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(Health-NewsWire.Net, November 17, 2021 ) The report "Cellulose Ether & Derivatives Market by Product Type (Methyl Cellulose & Derivatives, Carboxymethyl Cellulose, HEC, HPC, EC), Application (Construction, Pharmaceutical, Personal Care, Food & Beverage), and Region - Global Forecast to 2026" The cellulose ether & derivatives market size is projected to reach USD 8.7 billion by 2026, at a CAGR of 9.4%, during the forecast period. The cellulose ether & its derivatives are used in a number of applications in pharmaceutical, personal care, food, construction, oil & gas, and other end-use industries, which helps the market to grow rapidly. In addition to this, the growing demand in for cellulose ether & derivatives in various end-use industries from emerging economies such as China, and India is also propelling the growth of the market.
However, the outbreak of COVID-19 has created ripples in various end-use industries, leading to reduced demand for cellulose ether & derivatives. Due to the lockdown scenario in Europe and North America, the demand for cellulose ether & derivatives from construction, personal care, food & beverage, and paints & coatings have declined sharply in the first quarter of 2020.
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Methyl cellulose ether & derivatives product type to have the largest market share in the cellulose ether & derivatives market during the forecast period.
Cellulose ether & derivatives is the major product types of cellulose ether & derivatives. Methyl cellulose (or methylcellulose) is a chemical compound that is derived from cellulose. It is a hydrophilic white powder in pure form. It dissolves in cold (but not in hot) water, forming a clear, viscous solution or gel. Methyl cellulose is not digestible, not toxic, and not an allergen, making it suitable for use in the food and pharmaceutical industries. It helps in controlling several crucial properties of a formulation, such as a rheology, dispersion, water demand, and water retention. It has many practical benefits, including high consistency and workability with low stickiness, high standing strength, and high yield. The methyl cellulose & derivatives market consists of methyl cellulose, hydroxypropyl methyl cellulose, and hydroxyethyl methyl cellulose. The methyl cellulose & derivatives segment has a major share in the global cellulose ethers & derivatives market, owing to its wide acceptability in end-use industries such as construction, pharmaceutical, food & beverage, personal care, etc.
The construction application of methyl cellulose & derivatives segment is expected to account for the largest share in the cellulose ether & derivatives market during the forecast period, in terms of value.
Construction is the major application for the methyl cellulose & derivatives product type in the celliulose ether & derivatives market. Cellulose ethers are the premium choice of the construction industry due to the increasing consciousness regarding green chemicals. On other hand, with the advancement of living standards in society and the enhanced awareness of the living environment, health, and safety, naturally derived cellulose ethers have become the first choice to replace the conventional chemicals in the industry. Cellulose ether & derivatives have many functions, which includes their use as a thickener, binder, film former, redispersible powder, air entrainer, hydrophobic agent, preservative, retarder/accelerator, rheology/viscosity in various applications of the construction industry.
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The growth of the construction industry, especially in emerging economies such as China and India owing to continuing increasing disposable income levels, and, consequently, an increasing population which has led to increase in the number of construction projects, is also expected to drive the cellulose ether & derivatives market.
APAC region to account for the largest market share in the cellulose ether & derivatives market during the forecast period.
APAC was the largest cellulose ether & derivatives market, in terms of value, in 2020. The increasing use of cellulose ether & derivatives in applications such as construction, pharmaceutical, paints & coatings, personal care, food & beverage, and others is expected to provide new growth opportunities to the market. Furthermore, high economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and the global shift of production facilities from developed markets to developing markets are some of the key factors driving the cellulose ether & derivatives market in Asia Pacific.
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The key players in the market include The Dow Chemical Company (US), Shin-Etsu Chemical Co., Ltd (Japan), Ashland Global Holdings, Inc (US), LOTTE Fine Chemicals (South Korea), Rayonier Advanced Materials Inc. (US), Shandong Head Co., Ltd (China), Nouryon Chemical Holdings B.V (Netherlands), Colorcon (US), J.M. Huber Corporation (US), J. RETTENMAIER SOHNE GmbH + Co KG (Germany), FENCHEM (China), Hebei Jiahua Cellulose Co., Ltd. (China), DKS Co. Ltd (Japan), Lamberti S.p.A (US), Zibo Hailan Chemical Co., Ltd (China). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the cellulose ether & derivatives market.
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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