Microfibrillated cellulose (MFC) fiber is a biodegradable and renewable material and has emerged as the most suitable sustainable alternative for diverse end-use industries.
Rockville, United States – January 15, 2020 /MarketersMedia/ —
Microfibrillated cellulose (MFC) fiber market is growing swiftly with an impressive CAGR of ~ 13.6% through 2029, propelled by the paper and packaging industries worldwide. With the growing trend of clean label and ecofriendly packaging solutions, the demand for microfibrillated cellulose fiber is likely to propel over the forecast period. Moreover, rising investments in research & development activities to develop cost effective production technology and collaboration of prominent players with end-use industry giants is further going to stimulate the growth of global microfibrillated cellulose fiber market. Demand for microfibrillated cellulose fiber is anticipated to witness tremendous growth owing to increased demand for sustainable packaging in diverse industries such as cosmetics & personal care, and food and beverages. The global sales of microfibrillated cellulose fiber is estimated to surpass a value of ~US$ 300 Mn by 2029.
Key Takeaways of the Microfibrillated Cellulose Fiber Market Study
– Emerging packaging applications such as personal care & cosmetics and food packaging will fuel value growth by 3.3X through 2029
– Barrier film applications among other microfibrillated cellulose applications are estimated to surpass US$120 Mn by 2029 end owing to its advanced barrier properties and growing demand for MFC film for packaging applications
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– Fact.MR reports that demand for paper and packaging end use industry of microfibrillated cellulose fiber collectively accounts for over one-third of the global consumption
– Paints and Coatings among other end-use industries is likely to witness a striking growth of ~15-16% throughout the assessment period (2019-2029)
– As compared to developing regions, the sales of microfibrillated cellulose fiber are envisaged to be higher in the countries of North America and Europe. However, developing countries such as India and China are anticipated to gain lucrative profits in the coming years.
“With the rising trend of sustainable packaging, microfibrillated cellulose fiber will go mainstream with manufacturers focusing on expansion of production capacity and collaboration with industry giants,” says the Fact.MR analyst.
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Advancement of Production Technology to Remain Top Priority of Prominent Players
The microfibrillated cellulose fiber market is highly consolidated with key players ruling the overall market with 75% of the global sales. Manufacturers are increasingly focusing on advancement of production technologies to develop innovative products to maintain a strong position in the market. Manufacturers are expanding their production capacity and collaborating with end-use industry giants to meet the growing demands of microfibrillated cellulose fiber globally.
Find More Valuable Insights on Microfibrillated Cellulose Fiber Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global Microfibrillated cellulose fiber market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the microfibrillated cellulose fiber market on the basis of application (Barrier Films and performance enhancer), end-use industry (Paper, Packaging (Dairy, and Others), Food, Paints & Coatings, Personal Care, and Others) and region (North America, Latin America, Europe, CIS/Russia, Japan, APEJ, and Middle East & Africa).
To Get more insights on Microfibrillated cellulose fiber market, visit- https://www.factmr.com/report/1710/microfibrillated-cellulose-fiber-market
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Release ID: 88942924
This news is published on Reuters.