by Cellulose plastics are sustainable and biodegradable plastics derived from natural polymers like cellulose. They are used as an alternative to conventional plastics in various applications like packaging, textiles and 3D printing due to their properties of being lightweight and durable. Cellulose plastics find wide usage in packaging films for food and consumer goods due to their moisture barrier properties and printability.
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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for sustainable packaging solutions is a major driver for the growth of the cellulose plastics market. Conventional plastics have contributed significantly to environmental pollution due to difficulty in disposal and non-biodegradability. This has prompted packaging manufacturers and brand owners to adopt biodegradable substitutes like cellulose plastics to meet sustainability targets. Cellulose plastics can be composted after usage, causing less harm to the environment. Their recyclability and sustainability make them an ideal alternative for packaging various FMCG and food products. Various regulations have also been implemented globally to curb usage of single-use plastics and promote bio-based plastics. This supports the increasing demand and growth of the cellulose plastics market
SWOT Analysis
Strength: Cellulose plastics are renewable, biodegradable and compostable materials with strength properties comparable to petroleum-based plastics. They can help reduce dependence on fossil fuels.
Weakness: Producing cellulose plastics at commercial scale remains a challenge. The production costs are currently higher compared to petroleum-based plastics.
Opportunity: Growing consumer preference for sustainable and eco-friendly products presents an opportunity for cellulose plastics. Stringent environmental regulations against single-use plastics also supports the market growth.
Threats: Established petrochemical industry lobbies against cellulose plastics and promotes conventional plastics. Volatility in raw material prices can impact the commercialization of cellulose plastics.
Key Takeaways
The Global Cellulose Plastics Market Growth is expected to witness high over the forecast period of 2023 to 2030. The market size is projected to reach US$ 819.69 Mn in 2024 growing at a CAGR of 6.1%.
Regional analysis: Asia Pacific region currently dominates the global cellulose plastics market and is expected to maintain its lead through 2030. Countries like China, Japan and South Korea are major producers and consumers of cellulose plastics. Growing environmental concerns and government push for sustainability are supporting market growth in the region.
Key players operating in the cellulose plastics market are Kraig Biocraft Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft Laboratories is a leading developer of spider silk-based materials. Spiber is pioneering production of synthetic spider silk protein called Brewed Proteins. AMSilk and Bolt Threads are engaged in producing artificial spider silk fibers for textiles and industrial applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
