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Cellulose Bioplastic Market Size Worth $1,536.7 Million By 2030

The global cellulose bioplastic market size is expected to reach USD 1,536.7 million by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 19.5% over the forecast period.

Cellulose bioplastic is a type of plastic that is made from cellulose esters (nitrocellulose, and cellulose acetate) or cellulose derivatives. Cellulosic plastics are produced using coniferous trees as the main raw material. The bark of the tree is separated and can be used as an energy source in production. The separation of cellulose fibers comes from the tree where they are cooked or heated in a digester. The growing demand for packaging is expected to drive significant market growth during the forecast period.

The growing demand for cellulosic bioplastics is associated with the production of mobile phones, ophthalmic products, thermoplastic products, sheets, and toys, among others. Strict rules governing the use of conventional plastic materials owing to environmental concerns and the resulting damage are significant factors driving the need for more environmentally sustainable materials across sectors and applications. The introduction of various bans on the use of conventional plastics has led to an increase in demand for cellulosic bioplastics and other plastics made from renewable raw materials. cellulosic bioplastics are also biodegradable, which is another driving factor in their preference and their adoption.

The global cellulose bioplastic market is highly competitive and fragmented in nature, with the presence of various key players such as Celanese Corporation, Solvay, Daicel Chemical Industries, Mitsubishi Rayon Company Limited, Eastman Chemical Company as well as a few medium and small-scale regional players operating across the globe.

The market is undergoing a transformation of the value chain from a linear economy to a circular one. Major market players are shifting towards a circular economy in order to have more sustainable solutions and minimize their dependence on crude oil in the future. In recent years, this trend has increased the demand for renewable raw materials such as softwood trees and tree bark for the production of plastics.

Growing concerns about petrochemical toxicity issues, along with the depletion of crude oil reserves, have spurred the development of cellulose-based plastics. Factors including stringent environmental norms such as EN 14995, EN 13432, and EN 17033; growing environmental concerns among consumers; The growing interest of market key players in the production of cellulose bioplastics is expected to be a key growth driver during the forecast period.

Cellulose Bioplastic Market Report Highlights

Cellulose Acetate dominate type segment with a share of more than 65% in 2021 and is expected to maintain a healthy growth rate over the forecast period because it is widely produced and readily available. The rapid usage of cellulose acetate in the packaging sector is due to the properties of cellulose acetate made films such as, tearing quickly, are sturdy and puncture-resistant, making them perfect for food packing, hence it can help to drive the cellulose bioplastic market across the globe
The packaging application led the market with a revenue share of more than 62% in 2021. Increasing utilization of cellulose bioplastics to produce bags for compost, agricultural foils, horticultural products, nursery products, toys, and textiles is the key factor responsible for the segment growth
Europe dominate the regional segment for the cellulose bioplastic market in 2021 with a revenue share of more than 44%. The European market for cellulosic bioplastics is expected to experience significant growth in the coming years due to various factors such as the presence of stringent environmental laws, growing consumer concern for the environment, and increased investment in research and development in the cellulosic bioplastics sector by private and public organizations
Stringent regulations pertaining to single-use plastic ban across regions including Europe, North America, and Asia, are expected to fuel the growth of cellulose bioplastics market
The growing demand for consumer goods along with rising environmental concerns is expected to drive the demand for cellulose bioplastics in the automotive &transportation application segment

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Cellulose Bioplastic Market Segmentation

Grand View Research has segmented the cellulose bioplastic market report based on application, product and region:

Application Outlook (Revenue, USD Million; 2019 - 2030)