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.
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