Cellulose Films Market is Estimated to Witness High Growth Owing to Opportunity of Environmental Friendliness

 

Cellulose Films Market

Cellulose films are biodegradable films made from cellulose, a renewable material derived from plants and trees. These films find wide applications in food packaging due to their oil and grease resistance properties. Cellulose films helps preserve food quality while ensuring food safety. The films also protect food from external contamination and extend shelf life of perishable goods.

The global cellulose films market is estimated to be valued at US$ 823.37 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The key opportunity driving the growth of the cellulose films market is their environmental friendliness. Being biodegradable and compostable, cellulose films offer a sustainable packaging solution as they reduce plastic waste and lower carbon footprint. The rising consumer demand for eco-friendly packaging along with stringent government regulations banning single-use plastics have boosted the replacement of petroleum-based plastics with cellulose films across various end-use industries like food and beverages. The biodegradable nature of cellulose films is expected to increase their adoption, thereby propelling the market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the cellulose films market requires significant investments in R&D and production facilities to manufacture quality films. However, presence of low cost raw material i.e. cellulose helps new players to enter the market.

Bargaining power of buyers: Bargaining power of buyers is moderate to high as cellulose films have applications in various end use industries. Buyers can negotiate on price and easily switch between suppliers.

Bargaining power of suppliers: Bargaining power of suppliers is moderate as raw materials required are commodity in nature and suppliers have no real differentiation.

Threat of new substitutes: Threat of new substitutes is low to moderate as cellulose films have properties like biodegradability, flexibility and transparency which is unique. However, plastic films continue to substitute cellulose based films in few applications.

Competitive rivalry: High as major players compete intensely on basis of product quality, pricing and innovation.

SWOT Analysis
Strength: High tensile strength, transparency, biodegradability and recyclability of cellulose films. Wide applications in packaging, labels and tapes industries.
Weakness: High production costs compared to petroleum based films. Require sophisticated production facilities.
Opportunity: Growth in demand for sustainable packaging solutions driven by stringent regulations. Expanding end use industries especially food and pharmaceutical packaging.
Threats: Volatility in raw material prices impacts production costs. Increase in trade barriers can impact exports.

Key Takeaways

The global cellulose films market is expected to witness high growth during the forecast period of 2023-2030. The market size for cellulose films was valued at US$ 823.37 Mn in 2023 and is projected to reach over US$ 1.5 Bn by 2030, expanding at a CAGR of 12%.

Regional analysis - Asia Pacific dominates the global cellulose films market and accounted for over 35% of the total market share in 2023. China leads the cellulose films demand in the region owing to large packaging industry. Europe is the second largest market growing at a CAGR of 10.5% during the forecast period due to stringent regulations favoring sustainable packaging in countries like Germany, UK, France etc.

Key players related content - Key players operating in the cellulose films market are ATM S.A. (ATMAN), Equinix, Inc., Aruba S.p.A., Beyond.pl, EdgeConneX Inc., Virtua Operator, Exea Data Center, Comarch SA, OVH, T-Mobile Polska, SNP Poland Sp. z o.o. Major players are focusing on new product launches, capacity expansions and mergers & acquisitions to gain competitive advantage in the market.

Explore more trending article on this topic:https://www.newswirestats.com/cellulose-films-market-are-set-to-grow-significantly-with-increasing-demand-for-sustainable-packaging-solutions/

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