UNITED STATES, ROCKVILLE, MD, April 10, 2022 (GLOBE NEWSWIRE) — According to a recent Fact.MR report, the microfibrillated cellulose fiber market is expected to grow at a CAGR of 13.6% from 2021 to 2031. By the end of 2029, the market is expected to reach US$ 300 million.
In addition, increasing investments in research and development activities to develop cost-effective production technologies and the cooperation of prominent players with giants of the consumer industry will provide further impetus growth from global microfibrillated cellulose fiber market.
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From 2016 to 2020, the market for microfibrillated cellulose fibers saw strong growth of around 12%. The industry is moderately fragmented. The packaging sector also saw stronger growth, particularly in high-income regions, with Europe and the United States accounting for higher production compared to the Middle East and Africa and Latin America.
According to the Fact.MR report, North America is the second largest regional market for MFC fibers and the United States is expected to account for more than 90% of the region’s market share by the end of the forecast period.
According to the Environmental Protection Agency (EPA), around 32 million tons of corrugated boxes were recycled in 2018 out of nearly 34 million tons of total recycling volume. The recycling rate for corrugated cardboard boxes was 96.5 percent. Additionally, according to the American Coatings Association (ACA) 2020 Sustainability Report, 11 states in the country have enacted legislation to establish detailed programs to introduce sustainable paints and coatings in their jurisdictions.
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Important insights from the market study
- New packaging applications such as personal care and cosmetics and food packaging will drive value growth by 3.3x by 2029
- Due to the advanced barrier properties and growing demand for MFC film for packaging applications, barrier film applications are estimated to exceed $120 million by the end of 2029, alongside other microfibrillated cellulose applications
- Fact.MR reports that the paper and packaging industry’s combined demand for microfibrillated cellulose fibers accounts for over a third of global consumption
- Paints and coatings are expected to see remarkable growth of ~15-16% over the entire assessment period (2019-2029), along with other end-use industries.
- Compared to developing regions, sales of microfibrillated cellulose fibers are expected to be higher in North America and Europe. However, developing countries such as India and China are likely to reap lucrative gains in the coming years.
The market for microfibrillated cellulose fibers is inherently moderately fragmented due to the presence of major regional players. Leading manufacturers invest heavily in R&D and go-to-market strategies aimed at expanding the portfolio and broadening the range of applications for microfibrillated cellulose fibers.
- In October 2019, Spinnova collaborated with Fortum to introduce the first prototype of a range of clothing made from sustainable microfibrillated cellulose textile fibers derived from wheat straw and layered onto organic cotton cloth.
- In November 2019, Stora Enso Oyj, a leading manufacturer of high-quality paperboard, presented a number of innovations related to pulp as a potential replacement for oil derivatives and plastic packaging for use in cosmetic formulations.
- Borregaard, a leading Norwegian biorefinery company, developed and launched Sense-Fi, a fat substitute and thickener. The microfibrillated cellulose-based material is made by converting non-digestible cellulose into starch.
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Market segments covered in Microfibrillated cellulose fiber Industry analysis
- barrier films
- performance enhancer
- Rheology Modifiers
- consumer industry
- Colors & Coatings
- personal hygiene
- North America (USA & Canada)
- Latin America (Mexico, Brazil and Rest of LATAM)
- Europe (EU-4, Scandinavia, Benelux, Poland and rest of Europe)
- Asia Pacific ex Japan (China, India, ASEAN, South Korea, Australia and New Zealand and other APEJ)
- Middle East and Africa (GCC countries, South Africa and rest of MEA)
Important points covered in Microfibrillated cellulose fiber Industry survey:
- Market Estimates and Forecasts (2016-2032)
- Key drivers and restraints affecting market growth
- Segment-wise, country-wise and regional analysis
- Competitive mapping and benchmarking
- Market Share Analysis
- Effects of COVID-19 on Microfibrillated Cellulosic Fibers and Navigation
- Recommendation on key winning strategies
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More insights available
Fact.MR presents in its new offering an unbiased analysis of the Microfibrillated Cellulosic Fibers market with historical market data (2016-2020) and forecast statistics for the period 2021-2031.
The market for microfibrillated cellulose fibers is highly consolidated, with key players dominating the overall market with 75% of global sales. Manufacturers are increasingly focusing on advancing production technologies to create innovative products and maintain a strong position in the market. Manufacturers are expanding their production capacities and collaborating with giants of the consumer industry to meet the growing global demand for microfibrillated cellulose fibers.
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