Cellulose Plastics Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

The global cellulose plastics market size is expected to witness a substantial rise in the coming future, and register a significant CAGR over the forecast period (2019 - 2027).

Market Overview

Cellulose plastics are based on pure cellulose that is extracted from wood pulp or cotton lint and is reacted with alkalis, acids, or alkyl halides to produce flakes. The result is acetate, propionate, acetate butyrate, nitrate, or ethyl cellulose, depending on the reactants. Ethyl cellulose plastics have several industrial applications owing to their excellent molding properties, dielectric strength, light weight, and flexibility under a range of temperatures. Of all cellulose plastics, ethyl cellulose plastics have the lowest water absorption rate. Moreover, they are comparatively less tough and lower in strength than other cellulose plastics. Such plastics are typically used for manufacturing luggage items, sports helmets, refrigerator components, and others. Upon chemical modification, cellulose plastics can also be made into cellophane film and fibre such as rayon.

Market Dynamics

The growth of the cellulose plastics market is driven by demand for cellulose acetate (esters), and the demand is expected to grow steadily over the forecast period. Cellulose plastic are used primarily to produce thermoplastics, electronics, cellophane, fibres, sheets, ophthalmic goods, spectacle frames, toys, sports goods, and rods among others. Moreover, the demand for cellophane plastics from end use industries is expected to grow for applications such as packaging materials, everyday appliances, textiles, and composites. Wide usage of plastic packaging (such as petroleum-based plastic) has led to an increasing number of environmental regulations banning use of conventional or traditional plastics. This, in turn, has led to growing demand for cellulose plastics which are produced by renewable means and raw material. Biodegradability is another reason for increasing demand for bio-based plastics in the global market. In the past few years, applications of cellulose plastics has been increasing, such as screen shields, and electronics such as transparent dialers. However, low purchasing cost and easy availability of traditional plastics may hamper demand for cellulose plastics over the forecast period. Key players in the global cellulose plastics market are engaged in research and development efforts to develop low cost packaging materials that are sustainable and biodegradable at the same time.

Market Outlook

The global cellulose plastics market is segmented into North America, Europe, Asia Pacific, and rest of the world. North America is dominating the cellulose market in terms of consumer demand and production, and the trend is expected to continue during the forecast period. Europe is expected to account for the second largest market share owing to a huge demand in the region, especially Western Europe. The Asia Pacific cellulose market is also projected to exhibit significant growth owing to increasing awareness regarding the environmental hazards posed by conventional plastics, as well as the increasing initiates by governments in economies such as India to curb plastic usage. Other regions such as Latin America and the Middle East are also expected to contribute considerably to the overall market share due to the increasing presence of key players in the regions.

Key Players

The major players operating in the global cellulose plastics market are Daicel Chemical Industries, Celanese Corporation, Eastman Chemical Company, Solvay, Mitsubishi Rayon Company Limited, and SK Chemicals Co. Ltd. among others.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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