Rockville , Sept. 20, 2023 (GLOBE NEWSWIRE) -- As per this latest industry report by Fact.MR, a market research and competitive intelligence provider, the global microfibrillated cellulose fiber market is projected to expand at an impressive 14% CAGR from 2023 to 2033 and attain a value of US$ 835 million by the end of 2033.
Plastic has become the Achilles heel of the world and as the climate change phenomenon worsens, governments across the world are launching initiatives to ban the use of plastic in all walks of life. As major and minor economies move to eliminate plastic from our ecosystem, demand for alternative materials such as microfibrillated cellulose (MFC) fiber and other bio-based materials is projected to skyrocket by the end of the study period.
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Leading microfibrillated cellulose fiber suppliers are estimated to focus on collaborations and partnerships to fast-track the research and development of novel bio-based materials such as MFC fibers.
- In December 2019, Norske Skog and Borregaard, the leading players in the microfibrillated cellulose fiber marketplace, announced that they were collaborating to develop novel biocomposites. Both companies have the goal of reducing plastic usage around the world.
| Report Attributes | Details |
| Value Projection (2033) | US$ 835 Million |
| Growth Rate (2023-2033) | 14% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 77 Tables |
| No. of Figures | 89 Figures |
Key Takeaways from Market Study
- The global microfibrillated cellulose fiber market stands at a value of US$ 225 million in 2023.
- From 2023 to 2033, microfibrillated cellulose fiber shipments are set to rise at a stellar CAGR of 14%.
- The market is anticipated to reach a size of US$ 835 million by the end of 2033.
- Growing demand for paints and coatings, high demand for sustainable packaging, increasing investments in bio-based material R&D, bans on the use of plastic, and advancements in material technology are key market drivers.
- Lack of knowledge regarding the benefits of microfibrillated cellulose fiber and volatility in pricing are key restraints impeding market development.
- Demand for microfibrillated cellulose fiber in China is estimated to rise at an astronomical 19% CAGR over the next ten years.
- The packaging industry is expected to account for more than 40% of global microfibrillated cellulose fiber sales by 2033-end.
“The packaging sector will be a gold mine of opportunities for established as well as new microfibrillated cellulose fiber manufacturers if they play their cards right,” says a Fact.MR analyst
Key Companies Profiled In this Report
- Borregaard
- Daicel FineChem Ltd.
- Weidmann Fiber Technology
- FiberLean Technologies Ltd.
- Zelfo Technologies GmbH
- Stora Enso Oyj
- Fibria (Suzano Brazil)
- SAPPI
- Cellu Comp Ltd.
- Norske Skog
Winning Strategy
Microfibrillated cellulose fiber manufacturers should focus on the adoption of novel manufacturing techniques to reduce overall production costs and improve profitability. Companies need to direct their efforts in maximizing sales for the packaging sector as it is the one that has been pointed out to be the most opportune one across the study period.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global microfibrillated cellulose fiber market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on application (barrier films, performance enhancers) and end-use industry (pulp & paper, packaging, food, paints & coatings, personal care, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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