Award winning market research company Fact.MR has recently published an exhaustive coverage on the global microfibrillated cellulose (MFC) fiber market. According to the study, the market is expected to generate significant gains in 2021 over 2020, as the world gradually recovers from the COVID-19 pandemic induced recession. Long-term growth prospects appears largely optimistic, with projections indicating a staggering double-digit CAGR for the forthcoming decade.
Manufacturers are introducing novel packaging solutions by leveraging heightening environmental protection concerns. Studies suggest that incorporating even 1% of MFC can result in nearly 20% product performance improvements. Moreover, MFC packaging limits oxygen transmission rates to 4-10 ml/m2 a day and a moisture transfer rate as low as 0.4 g/m2 a day. This ensures a longer shelf-life of end-use products, making them more durable.
According to Fact.MR's analysis, significant growth prospects exist across the European market, particularly in Norway, especially due to higher recycling rates in the wake of reduced taxation. For instance, the environmental tax rate for cans is pegged at NOK 5.99 and NOK 3.62 for recyclable bottles. Such low rates are likely to encourage adoption of MFC fibers in packaging solutions across the region.
"Growing emphasis on sustainable packaging alternatives is encouraging global level industrial coalitions to promote enhanced usage of environmental friendly packaging options, which is expected to catapult adoption of microfibrillated cellulose fibers on a larger scale," comments the Fact.MR analyst
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Key Takeaways from Fact.MR's MFC Study
- MFCs for use as performance enhancers likely to register noteworthy expansion through 2021
- By end-use industry, packaging is likely to garner approximately two-fifth revenue share
- U.S. expected to account for over 90% of the revenue share in the North American market, attributed to growing need for recycled products
- Intensive research to promote sustainable packaging to uplift U.K MFC market on a strong Y-o-Y growth rate
- Germany and France to register stable outlook, Norway to emerge as a potential green space
- China to emerge as the fastest growing market across APAC, registering a staggering CAGR, Japan and South Korea to remain attractive growth spots
MFC Market- Prominent Drivers
- Manufacturers eyeing thermomechanical pumping as an effective way of extracting MFC, widening revenue pools
- High demand for robust and economically viable packaging solutions is expected to bolster MFC uptake
- Food packaging is likely to yield credible future expansion opportunities, followed by the pharmaceutical industry
MFC Market- Key Restraints
- Limited knowledge about MFC structure and characteristics likely to impede long-term growth
- Volatile raw material prices renders it difficult to procure primary input ingredients by manufacturers, thus restricting uptake
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Competitive Landscape
According to Fact.MR, prominent microfibrillated cellulose (MFC) fiber manufacturers include Daicel FineChem Ltd., Stora Enso Oyj, Fibria, SAPPI, Norske Skog, FiberLean Technologies Ltd., Cellu Comp Ltd., Zelfo Technologies GmbH and Weidmann Fiber Technology. Furthermore, major regional players across key geographies render the market moderately fragment.
Prominent expansion strategies of the aforementioned players include portfolio diversification, strengthening research & development capabilities and strategic collaborations among others. Norske Skog is a prominent MFC manufacturers, which received US$ 800 thousand grand from Innovation Norway way back in 2013 to establish the world's leading pilot plant for developing MFC.
Furthermore, manufacturers are also incorporating sustainable packaging solutions to enhance sales of MFCs across a wide spectrum of clients. A case in point is of Weidmann Fiber Technology, which in 2020, shifted from conventional plastic barrels to utilizing ECO DRUM natural fiber-based packaging made out of Kraftliner paper to store its Celvoa® MFC.
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 (MFC) fiber market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges compelling insights on the MFC fiber market on the basis of application (barrier films and performance enhancers) and end-use industry (paper, packaging [dairy and others], food, paints & coatings, personal care, and others), across the regions of North America, Latin America, Europe, CIS/Russia, Japan, APEJ, and the Middle East & Africa.
https://www.factmr.com/article/109/emerging-growth-frontiers-in-the-global-coatings-industry
Key questions are covered in the report:
- How Europe and the US accounting for higher production in comparison to the Middle East & Africa?
- How is MFC Fiber Production from Thermomechanical Pulp Creating Opportunities?
- What are the Leading Challenges for MFC Fiber Market Players?
- What are the Sales Prospects for MFC Fiber in the United States?
- Why is China a High Potential Market for Microfibrillated Cellulose Fiber?
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