The global Cellulose Films Market was valued at US$ 745.4 Mn, according to global cellulose films market report, by Type (Colorless Cellulose Films and Colored Cellulose Films), by Product Type (Bags & Pouches, Labels, Tapes, Wrapping Films and Others), by Application (Packaging, Mulch Films, Containers, Adhesives, Textile Sizing Agents, and Others), by End-use (Food & Beverages, Personal Care, Pharmaceutical, Paints & Coatings, Building & Construction, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – published by Coherent Market Insights.
The global cellulose films market is expected to surpass US$ 1,166.4 Mn by 2030 and exhibit a CAGR of 5.1% during the forecast period (2022-2030). Cellulose is a main substance of plant cell wall and cellulose films are made from the cellulose from wood, cotton, hemp, and other sources. Cellulose films are commonly used in food packaging because they are durable, lightweight, and moisture-resistant. Cellulose films are made from plant materials such as wood pulp and used to create products such as paper and plastics.
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Browse 58 market data tables* and 40 figures* on "Global Cellulose Films Market” – Forecast to (2022-2030).
Key Trends and Analysis of the Global Cellulose Films Market:
- Among region, Asia Pacific has witnessed the development in the food industry which is drive the global cellulose films market growth. According to the report published by The Hindu in September 2022, the Indian food market currently estimated at US$ 1584 million and it will grow at a CAGR of 6.7% in the forecast period. Moreover, pharmaceutical industry in Asia Pacific region especially in emerging countries such as China and India are boost the growth of the cellulose films market in forecast period.
- Europe is the largest cellulose films market in the globe. Increased the demand in this regions countries such as Italy, the Netherlands, and others are expected to witness higher growth rates owing to increase the population & disposable income.
- For instance, in December 2020, a packaging manufacture company, CCL industries acquired some production units of cellulose manufacture company, Innovia Group in the Europe region to increases their production capacity and sale in the Europe region.
Key Takeaways of the Market:
- Among Type, the colorless cellulose films sub segment is held the dominant position in global cellulose films market in 2021. Colorless cellulose films is a type of cellulose films which is transparent, glossy and reasonably hard for a thermoplastics. Cellulose has a various promising properties such as mechanical strength, biocompatibility, hydrophilicity, relative thermo stabilization, high sorption, and alternate optical appearance.
- For instance, in July 2020, a plastic and cellulose manufacture company, Futamura Chemicals acquired a cellulose manufacturer Cellophane business and assets. They both are working together to expand and build their polymer films and banknote production unit across the globe.
- Major players operating in the global cellulose films market include Eastman Chemical, Futamura Group, Innovia Films, FkuR, Sateri, Celanese Corporation, China Lucky Film Corp., Chengdu Huaming Cellophane Co., Ltd, Ningbo Jiangdong Credit, Shaoxing Chunming Cellulose Film Co., Weifang Henglian Films Co, Zhejiang Koray New Material Co., Ltd., INTERPLEX INDIA PRIVATE LIMITED, IPI GmbH, and Rengo Co., Ltd.
- These key players are constantly engaged in acquisitions to gain a competitive advantage over other players. For instance, in December 2020, a yarn producer company, Eastman Chemical Company acquired a Spanish producer of cellulosic yarn, Industries Del Acetato de Celulosa S.A. to increase their textile business in Asia Pacific region.
Global Cellulose Films Market - Impact of Coronavirus (COVID-19) Pandemic
- Since March 2020, almost every industry in the world has suffered due to the COVID-19 pandemic. The demand for consumer goods in 2020 reduced significantly, which in turn, hampered growth of the cellulose films market. Furthermore, supply chain disruptions also reduced growth of the cellulose films market. Moreover, import and export activities reduced drastically due to stringent regulation policies.
- COVID-19 is boost to the cellulose films in globe. From manufacturing and distributing, this industry has faced lot of problems during the pandemic, unequalled demand from manufacturers as well as consumers, particularly for some products. However, increase the demand for the product in the food & beverages and pharmaceuticals end-use industries during the pandemic regularly grow the cellulose films market. Because consumers are more focusing on health benefits and cellulose has a various health benefits such as helps to maintain lower cholesterol, weight management, and others.