February 25, 2024
Cellulose Plastics Market

The Global Cellulose Plastics Market Driven By Eco-Friendly Properties

Cellulose plastics, also known as cellophane plastics, are thermoplastic materials derived from cellulose, including cellulose acetate and cellulose acetate propionate. They are commonly used as low-cost engineering plastics with properties similar to polypropylene and polystyrene. These plastics are sustainable and biodegradable alternatives to traditional petrochemical-derived plastics. Cellulose plastics find applications in consumer durables, electronics, automotive, and packaging industries. The packaging industry is a major consumer of cellulose plastics due to their transparency and strength. They are used to make cellophane sheets for food packaging, cigarette tips, and photographic films.

The global cellulose plastics market is estimated to be valued at US$ 819.69 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the cellulose plastics market is the growing adoption of these plastics for 3D printing filaments. Features like biodegradability and recyclability are driving their demand in the 3D printing industry. Leading 3D printer filament manufacturers are using cellulose acetate as a raw material for producing PLA- and ABS-like filaments. These cellulose-based filaments provide properties similar to traditional crude oil-derived filaments while reducing environmental footprint. Advancements in 3D printing technologies have increased the applications of cellulose plastics in the prototyping of various precision and medical components. The eco-friendly attributes of cellulose plastics are supporting their popularity among inventors and industrial designers

Porter’s Analysis

Threat of new entrants: The threat of new entrants into the cellulose plastics market is moderate due to the requirement of technical expertise and high capital investments required to set up manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers in the cellulose plastics market is moderate as cellulose plastics have applications in various end-use industries including textiles, medical & healthcare, automotive and more.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for manufacturing cellulose plastics such as plant-based polymers are available from numerous domestic and international suppliers.
Threat of new substitutes: The threat of substitutes is moderate as cellulose plastics can be substituted by conventional plastics however the demand is growing for sustainable and biodegradable alternatives.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of numerous international and regional players operating in the market.

Key Takeaways

The Global Cellulose Plastics Market Demand is expected to witness high growth over the forecast period supported by the expanding textiles industry.

Regional analysis: Asia Pacific is anticipated to continue dominating the global cellulose plastics market during the forecast period. Abundant availability of raw materials, low production costs, and strong presence of manufacturing facilities are some of the factors driving the regional market. China, India, Indonesia, and Japan are the major contributors to the regional market growth.

Key players: Key players operating in the cellulose plastics market are Kraig Biocraft Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft Laboratories is a leading manufacturer of specialized fibers for the bioplastics, textiles and apparel industries using patented recombinant silk technology. Spiber focuses on developing innovative materials involving plant-based polymers and biomanufacturing processes.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it