SEATTLE, March 14, 2022 /PRNewswire/ -- According to Coherent Market Insights, The global Microfibrillated cellulose (MFC) market was valued at US$ 200.6 million in 2020 and is expected to exhibit a CAGR of 13.84% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Microfibrillated cellulose (MFC) Market:
Microfibrillated cellulose has huge growth potential to replace plastic in packaging application with increasing demand for environment-friendly materials. According to Coherent Market Insights' analysis, polyethylene terephthalate (PET) is the most preferred material for plastic bottles and PET bottles market is expected to reach US$ 70.32 billion by 2025. However, more research is required to develop commercial microfibrillated cellulose with excellent properties as plastic with competitive pricing. Microfibrillated cellulose are bio-based materials and are synthesized from wood pulp. This natural product caters to various industries including paper, packaging, and others. Thus, the increasing demand for biodegradable products is expected to drive the growth of the microfibrillated cellulose market globally during the forecast period.
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Key Market Takeaways:
The global Microfibrillated cellulose (MFC) market is expected to exhibit a CAGR of 13.84% over the forecast period (2021-2028). Growing awareness about microfibrillated cellulose is expected to boost the demand for microfibrillated cellulose in various applications such as paper, packaging, pharmaceuticals, personal care & cosmetics. Microfibrillated cellulose fiber is used as food additive that can be used as thickener or stabilizer for a wide range of food and beverages.
Major players operating in the global Microfibrillated cellulose (MFC) 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.
Key players are focusing on implementing strategies such as acquisitions and mergers to gain a competitive edge in the global market. For instance, in January 2021, in April, Horn (a U.S.-based raw materials and chemicals distributor) announced partnership with Borregaard (a Norway-based renewable product manufacturing company). Under this partnership, Horn became an exclusive distributor of microfibrillated cellulose for Borregaard in the U.S.
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Detailed Segmentation:
Global Microfibrillated Cellulose Market, By Manufacturing Process:
- Mechanical
- Chemical
- Biological
Global Microfibrillated Cellulose Market, By Application:
- Paper
- Packaging
- Pharmaceuticals
- Paints and Coatings
- Personal Care & Cosmetics
- Others (Home Care & Food & Beverages)
Global Microfibrillated Cellulose Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
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