Cellulose-Based Plastics Market Growth Factors with Prominent Key Players Worth USD 176.5 Million in 2028

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Increasing demand for cellulose-based plastics in packaging and stringent regulations to curb use of single-use plastics is driving market revenue growth

Market Size – USD 48.3 Million in 2020, Market Growth – at a CAGR of 17.5%, Market Trends – Increasing environmental concerns”
— EMARGEN RESEARCH

VANCOUVER, BRITISH COLUMBIA, CANADA, June 26, 2023/EINPresswire.com/ -- The global cellulose-based plastics market size is expected to reach USD 176.5 Million at a steady CAGR of 17.5% in 2028, according to latest analysis by Emergen Research. Global cellulose-based plastics market revenue growth is driven by rising demand for cellulose acetate in electronics and food packaging applications, and the trend is expected to continue over the forecast period.

Cellulose-based plastics are used to produce cellophane, thermoplastic products, ophthalmic goods, toys, and sheets, among others. Increase in implementation of stringent regulations regarding use of conventional plastics due to environmental concerns and ban on use of various plastics has created rising demand for cellulose-based plastics that are produced from renewable raw materials. Cellulose-based plastics are also biodegradable, which is another factor driving market revenue growth.

Rapidly increasing global population and urbanization along with rise in awareness regarding effects on health and environment in developing countries has created rising demand for cellulose-based plastics. Increasing concerns about high level of greenhouse gas emissions is driving the need for biodegradable and sustainable plastics.

Applications of cellulose-based plastics are increasing in production of electronic components such as transparent dialers and screen shields. Market players are investing in extensive research & development to produce low-cost packaging materials that are biodegradable and sustainable, which is propelling growth of the market. However, easy availability and low cost of traditional plastics is hampering growth of the cellulose-based plastics market to some extent. Moreover, complex process involved in the conversion of raw materials to plastic is posing challenges for market players and hampering market growth.

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Key manufacturers and vendors are profiled extensively, including their product portfolios, production capacity, gross margins, revenues, and costing. The report also includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis. The report also provides profiles of key competitive players and their strategies and operating procedures. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period.

Top players profiled in the report include

Celanese Corporation, Solvay, Daicel Chemical Industries, Mitsubishi Rayon Company Limited, Eastman Chemical Company, SK Chemicals Co. Ltd., Rayonier Advanced Materials, Sappi, Merck Millipore, and Haihang Industry

Some Key Highlights from the Report
In April 2021, Packaging Matters and Origin Materials, Inc. announced an agreement to develop advanced packaging materials, including a next-generation Polymer Polyethylene Furanoate (PEF). Origin Materials, Inc. will leverage its patented technology which converts cellulose from sustainable wood residues into carbon negative cost-advantaged materials that reduce the need for fossil resources. The partnership will revolutionize a wider range of end products, including clothing, plastics, and textiles, among others.
Cellulose acetate is a plastic manufactured from purified natural cellulose. It has high transparency and aesthetic appeal, high mechanical strength, good resistance to chemicals, and can be produced in a range of colors. Cellulose acetate dominated other type segments in terms of revenue share in the global market in 2020 as it is widely produced and readily available.
Cellulose-based plastics are commonly used in ophthalmic goods. They are premium materials used in the production of eyeglasses, and are highly durable, resistant to change in temperature, renewable, hypoallergenic, comfortable for extended period of time, are ideal for dye absorption, and can also be crafted into various geometric forms.
Cellulose-based plastics are an alternative to traditional plastics that make up most components in electronic devices, including mobile phones and computers. The material is biodegradable, renewable, strong, and lightweight. Major demand for sustainable plastics for manufacture of components used in human–machine interface units, wearable medical‐healthcare systems, personalized mobile equipment, and bionic intelligent robots is also driving market growth.
Key points covered in the report:

A detailed outlook of the market with essential data beneficial for business
Market segmentation based on product types, applications, and end-users. For further understanding, the key segments are further divided into sub-segments
Growth factors, driving and restraining factors, product trends, and technological advancements are extensively discussed
Latest product developments, incorporation of new techniques and profiles of major competitors
An 8-year forecast estimation detailing the growth and expansion scope of the Cellulose-Based Plastics market
In-depth analysis of the historical years and forecast period
Market dynamics with information of players, challenges, restraints, threats, and opportunities
SWOT analysis and Porter’s Five Forces analysis of the top vendors
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The global Cellulose-Based Plastics market report offers definitions, classifications, and comprehensive coverage of the entire industry. Furthermore, the report is segmented into key aspects to offer a better understanding of the global Cellulose-Based Plastics market. The report examines crucial elements of the Cellulose-Based Plastics industry by giving a detailed description of the threats, drivers, opportunities, and restraints.

The report further discusses in detail the market segmentation based on types and applications:

Type Outlook (Revenue, USD Million; 2018–2028)
Cellulose Butyrate
Cellulose Acetate
Cellulose Propionate
Others
Application Outlook (Revenue, USD Million; 2018–2028)
Thermoplastic
Extruded Films
Rods
Sheets
Ophthalmic Goods
Others (Toys, Sport Goods)
Regional Landscape:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Report Objectives

Examine the size of the global Cellulose-Based Plastics Market based on the parameters of value and volume.
Extensively profile top players of the global Cellulose-Based Plastics Market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Forecast the market size and share of all segments and regions in the global landscape.
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