The global Cellulose Plastics Market is estimated to be valued at US$ 819.69 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Cellulose plastics are sustainable, renewable and biodegradable thermo-plastic made from plant-based raw materials, cellulose fiber fillers and plastic polymers.

Market Overview:
Cellulose plastics are plant-derived renewable polymers made from cellulose fiber. They exhibit properties similar to traditional plastics such as durability and structural integrity. Being plant-based, cellulose plastics offer sustainability benefits over petrochemical plastics and help reduce dependence on fossil fuels. Their biodegradable nature also facilitates end-of-life treatment without harming the environment.

Market key trends:
Increasing demand for sustainable and bio-based plastics from industries such as packaging, automotive and construction due to stringent environmental regulations is expected to drive the growth of cellulose plastics market over the forecast period. Cellulose plastic producers are focusing on developing advanced materials with superior moisture-resistant and heat-resistant properties for use across diverse industrial applications. Rising R&D investments to commercialize new grades of cellulose plastic composites reinforced with natural fibers is further anticipated to boost the market growth during the forecast period.

Porter's Analysis

Threat of new entrants: Low capital requirements and access to advanced technology has lowered the threat of new entrants in the cellulose plastics market.

Bargaining power of buyers: Large buyers can negotiate lower prices by increasing the competitiveness in the market.

Bargaining power of suppliers: Suppliers have moderate power due to fragmented nature and availability of substitute raw materials.

Threat of new substitutes: Introduction of bio-plastics pose threat to cellulose plastics market.

Competitive rivalry: Intense competition exists between the key players to gain market share.

SWOT Analysis

Strength: Cellulose plastics are eco-friendly, biodegradable and derived from renewable biomass sources.

Weakness: High production cost and limited processing techniques restrict growth of cellulose plastics market.

Opportunity: Stringent regulations on use of conventional plastics and growing demand for sustainable packaging offers opportunities.

Threats: Availability of substitutes like polyethylene and polypropylene pose threats.

Key Takeaways

The Global Cellulose Plastics Market Demand  is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing demand for eco-friendly substitutes to plastics from non-renewable sources.

Regionally, Asia Pacific dominates the global market and is expected to grow at fastest pace during the forecast period, owing to rapid industrialization, growing population and stringent regulations in countries like China and India.

Key players operating in the cellulose plastics market are Celanese Corporation, Solvay, Daicel Chemical Industries, Mitsubishi Rayon Company Limited, Eastman Chemical Company, SK Chemicals Co. Ltd., Rayonier Advanced Materials, Sappi, Merck Millipore,Haihang Industry.

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