Vancouver, British Columbia, May 20, 2021 (GLOBE NEWSWIRE) – The global cellulose-based plastics market size is expected to reach USD 176.5 million at a stable CAGR of 17.5% in 2028, according to the latest analysis from Emergen Research. The growing demand for cellulose-based plastics in packaging and the implementation of strict regulations to curb the use of single-use plastics are key factors driving the market revenue growth.
Conventional plastic has a very detrimental effect on the environment, which has stimulated the demand for biodegradable plastics. Another driver of market revenue growth is the high demand for biodegradable plastics from food industries. Another factor driving the growth of the market is the growing preference for ready-to-eat food products that require safe packaging.
Rapid urbanization, rapid growth in online shopping for packaged and fresh food products, expansion of e-commerce platforms and change in lifestyle are other factors driving demand. growing number of hygienic, safe and durable plastic packaging materials. The increase in exports and imports has also created a significant demand for more sustainable plastics that meet the environmental standards required for packaging applications.
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The packaging industry is one of the most robust and growing sectors in the world. The UK packaging industry has an annual turnover of 13.23 billion USD, which is a major contributor to the country’s GDP. India, in October 2020, exported plastics worth $ 813 million, and between April 2020 and October 2020, reached $ 5.58 billion.
In 2018, the United Nations announced legislation to regulate plastic bags in 127 countries, 27 countries banning the use of single-use plastics (SUPs), and mandates for extended producer responsibility for SUPs were announced. donated to 63 countries. Thirty-five countries are investing in degradable plastics, and the governments of these countries have encouraged the production of biodegradable, oxo-biodegradable and compostable SUPs. This development also opens up opportunities for the players in the global cellulose-based plastic market to generate income.
Some highlights of the report
- In October 2020, Celanese Corporation launched a cellulose-based material that aligns with environmental, social and corporate governance (ESG) and circular economy goals with a product that is both largely compostable and bio-based. The company announced the commercial availability of BlueRidge Cellulosic Pellets, as an alternative to conventional plastics, in consumer products that are difficult to recycle.
- Cellulose propionate is a type of thermoplastic polymer and is brighter and more transparent with better low temperature impact properties than cellulose acetate. It is more rigid than cellulose acetate and cellulose butyrate with application in eyeglasses, spectacle frames, television screen covers, tool handles and cutlery handles.
- Cellulose-based thermoplastics are heat molded or can be processed in conventional plastic processing processes. These thermoplastics are strong, lightweight and have the lowest water absorption of cellulosic plastic. These materials are used in the manufacture of bulk products and packaging films.
- Cellulose-based plastics are used as an alternative to fossil fuel-based plastics and are used in food contact materials (FCM). Cellulose acetate is commonly used to package fresh produce and baked goods. Cellulose acetate films have good gloss and clarity, good dimensional stability and good rigidity. Although these films tear easily, they are strong and puncture resistant, making them ideal for food packaging.
- The Asia-Pacific market revenue is expected to register the fastest growth rate during the forecast period owing to strong economic growth, technological advancement and expanding manufacturing industries. The region leads the production of cellulose-based plastics over regional capacity due to low labor costs and increasing demand from China.
- The major players in the 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 and Haihang Industry.
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Emergen Research has segmented the Global Cellulose Plastics Market Based on Type, Application, End Use and Region:
- Type Outlook (Revenue, USD Million; 2018-2028)
- Cellulose butyrate
- Cellulose acetate
- Cellulose propionate
- Application Outlook (Revenue, USD Million; 2018-2028)
- Extruded films
- Ophthalmic products
- Others (toys, sporting goods)
- End-Use Outlook (Revenue, USD Million; 2018-2028)
- Food packaging
- Building construction
- Sports and leisures
- Consumer goods
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- Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- The rest of europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MEA
- North America
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