Microfibrillated Cellulose Market to Surpass US$ 565.7 Million by 2028

The global micro fibrillated cellulose (MFC) market was valued at US$ 200.6 million in 2020, according to Global Microfibrillated Cellulose (MFC) Market Report, by Manufacturing Process (Mechanical, Chemical, and Biological), By Distribution Channel (Paper, Packaging, Pharmaceuticals, Paints and Coatings, Personal Care & Cosmetics, and Others (Home Care & Food & Beverages), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.

The global micro fibrillated cellulose (MFC) market is expected to surpass US$ 565.7 million by 2028, exhibiting a CAGR of 13.84% during the forecast period (2021-2028).

Microfibrillated cellulose (MFC) is a lightweight natural biomaterial with excellent performance and improved properties. Microfibrillated cellulose are used in paper and cardboard packaging owing to their lightweight properties and excellent strength. Microfibrillated cellulose are cross-linked with fibers in paper and cardboard packaging which makes them lighter, stiffer, and stronger. For instance, in September 2018, Cellucomp (a Scottish-based company) developed microfibrillated cellulose with brand name ‘Curran’ from waste streams of root vegetables, namely carrots and sugar beet. Microfibrillated cellulose material provides excellent oxygen and moisture barrier properties, which makes them suitable for packaging applications where material with excellent oxygen and moisture barrier properties is required along with high strength. Microfibrillated cellulose can be used in the form of paper coatings, films, and nanocomposites.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/microfibrillated-cellulose-market-4967

Browse 50 market data tables* and 40 figures* on “Microfibrillated Cellulose Market” - Global Forecast to 2028.

Key Trends and Analysis of the Market:

• Among regions, North America market accounted for 45.2% of the market share in 2020 and is expected to exhibit a CAGR of 15.2%, in terms of value, over the forecast period. The demand for microfibrillated cellulose in the packaging industry is a key factor driving the microfibrillated cellulose market growth in the North America region. Due to busy lives, increasing disposable income, and the growing demand for quick and on-the-go packaged products is increasing, which is driving the growth of the microfibrillated cellulose market in the U.S. Also, demand for convenient, efficient, and environmentally friendly product packaging is increasing in in the North America region. For instance, according to the U.S. Environmental Protection Agency, it is estimated that around 32.1 million tons of corrugated boxes were recycled in 2018, out of a total of 33.9 million tons of paper and paperboard recycling.

Key Takeaways of the Market:

• Paper segment generated revenue of US$ 38.4% Mn in 2020 in the global microfibrillated cellulose market. Paper is gaining traction in the global market, owing to rising population and economic growth. According to the International Energy Agency, the rate of growth in paper production increased to 2.3 percent in 2017 and is expected to rise by 2030 due to growing demand for packaging products.
• Major players operating in the global microfibrillated cellulose market include Borregaard Chemicals Company, Daicel Corporation, FiberLean Technologies Ltd, J. Rettenmaier & Söhne, Nippon Paper Industries Co., Ltd, Norske Skog ASA, Sappi Limited, Stora Enso Oyj, Weidmann Fiber Technology, and Zelfo Technology GmbH

Global Microfibrillated Cellulose Market - Impact of CoronaVirus (COVID 19) Pandemic

• The global microfibrillated cellulose market has been negatively impacted due to the ongoing COVID-19 pandemic. This can be attributed to the imposition of lockdown, travel restrictions, and shutting down of manufacturing facilities. Moreover, the unavailability of raw materials required for farming had further hampered the demand for microfibrillated cellulose. However, restarting of international trade and ease of trade restrictions are expected to generate demand for microfibrillated cellulose in the near future. Moreover, the easing of restrictions and reopening of manufacturing facilities are expected to boost the demand for microfibrillated cellulose over the post-pandemic period.