Press release
Microfibrillated Cellulose Fiber Market Demand is Forecasted to Reach a Revenue of US$ 835 Million by 2033
Microfibrillated Cellulose Fiber Market
Plastic has become a global concern, exacerbated by worsening climate change. In response, governments worldwide are initiating bans on plastic use across various sectors. This shift is driving a surge in demand for alternative materials like microfibrillated cellulose (MFC) fiber and other bio-based alternatives, expected to escalate sharply by the end of the forecast period.
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Major suppliers of microfibrillated cellulose fiber are anticipated to prioritize collaborations and partnerships to accelerate the research and development of innovative bio-based materials like MFC fibers.
In December 2019, Norske Skog and Borregaard, key players in the microfibrillated cellulose fiber market, announced a collaboration aimed at advancing new biocomposites. Their joint objective is to contribute to global efforts aimed at reducing plastic consumption.
Key Takeaways from Market Study
In 2023, the global market for microfibrillated cellulose fiber is valued at $225 million.
From 2023 to 2033, shipments of microfibrillated cellulose fiber are projected to grow at an impressive CAGR of 14%.
By the end of 2033, the market is expected to reach a size of $835 million.
Key market drivers include increasing demand in paints and coatings, sustainable packaging solutions, rising investments in bio-based material research and development, global initiatives to reduce plastic usage, and advancements in material technology.
Factors such as limited awareness of the benefits of microfibrillated cellulose fiber and price volatility are significant restraints affecting market growth.
In China, demand for microfibrillated cellulose fiber is forecasted to grow at a robust CAGR of 19% over the next decade.
By the end of 2033, the packaging industry is projected to account for more than 40% of global microfibrillated cellulose fiber sales.
"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
๐๐๐๐ ๐๐จ๐ซ๐: https://www.factmr.com/report/1710/microfibrillated-cellulose-fiber-market
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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