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| Global Cellulose Plastics Market Size |
Cellulose plastics are biodegradable and environmentally friendly plastic
alternatives derived from wood and plant fibers. They provide lightweight yet
durable solutions across various applications like automotive, consumer goods,
and packaging.
The global
cellulose plastics market is estimated to be valued at US$ 944.29 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period
2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The widespread promotions of sustainable solutions by regulatory bodies as well
as eco-conscious consumers have accelerated the demand for cellulose plastics
in recent years. Cellulose plastics offer viable sustainable alternatives to
fossil fuel-based plastics that cause enormous environmental damage. They are
100% biodegradable and compostable thus reducing plastic waste in landfills and
oceans. The rising emphasis on green chemistry and circular bioeconomy will
further augment the adoption of cellulose plastics across industries looking to
improve their ESG credentials.
Segment Analysis
The global cellulose plastics market is dominated by the cellulose acetate
sub-segment due to its application in optical films, electronic displays and
electronics products. Cellulose acetate is a natural or synthetic compound that
comes with good tensile strength, optical clarity and purity. It finds
extensive use in flat or molded plastic products that require biodegradability
as well as engineering properties similar to synthetic polymers.
Key Takeaways
Global
Cellulose Plastics Market Size is expected to witness high growth over
the forecast period of 2024 to 2031. The global cellulose plastics market is
estimated to be valued at US$ 944.29 Mn
in 2024 and is expected to exhibit a CAGR
of 6.1% over the forecast period 2024-2031.
Regional analysis: Asia Pacific region is presently dominating the global
cellulose plastics market and is expected to maintain its leading position over
the coming years. This is attributed to high demand from countries like China,
India, Malaysia and Indonesia. Rapid industrialization and urbanization along
with availability of raw materials is propelling the growth of cellulose
plastics market in Asia Pacific.
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 spider and insect silk and focuses on
developing new recombinant silk fibers. Spiber Inc produces recombinant spider
silk fibers under the brand name Qmonos. AMSilk produces high-performance
biomaterials using proprietary fermentation processes. Bolt Threads utilizes
precision fermentation to produce spider silk proteins and develops novel
materials using these proteins.
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