CHICAGO, Aug. 7, 2023 /PRNewswire/ -- The report "Cellulose Ether & Derivatives Market by Product Type (Methyl Cellulose & Derivatives, Carboxymethyl Cellulose, HEC, HPC, EC), Application (Construction, Pharmaceutical, Personal Care, Food & Beverage), Region - Forecast to 2028", is estimated at USD 8.1 billion in 2023 and is projected to reach USD 12.5 billion by 2028, at a CAGR of 9.1% from 2023 to 2028. 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 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.
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The Carboxymethyl Cellulose type segment is expected to account for the second largest market share during the forecasted period.
The carboxymethyl cellulose segment accounted for a major share of the global market in 2022. Carboxymethyl cellulose is a prominent cellulose ether used for commercial applications. It has wide applications owing to its properties, such as water solubility and excellent UV and solvent resistance. It is used in the production of paints, dyes, inks, and adhesives. It is also utilized in personal care and cosmetics products. Rising investment in research and development, technological advancements, rise in disposable income of consumers, and greater demand from emerging economies would contribute to the growth of this segment during the forecast period.
The personal care application of methylcellulose & derivatives segment is expected to account for the third largest share in the cellulose ether & derivatives market during the forecast period in terms of value.
Polymer blends & alloys are widely used in consumer goods applications, including appliances, electronic devices, furniture, sporting goods, toys, personal care products, and home goods. They offer versatility, design flexibility, and cost-effectiveness, making them ideal for creating durable and attractive products. These materials provide lightweight solutions, impact resistance, vibrant colors, and properties such as scratch resistance and ease of maintenance. Polymer blends & alloys enable manufacturers to produce consumer goods that meet the demands of consumers in terms of aesthetics, functionality, and performance.
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Europe is expected to account for the third largest share in 2022.
The cellulose ether & derivatives market has been studied in North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The European cellulose ether & derivatives market is driven by the growing need for cellulose ether & derivatives in construction, pharmaceutical, personal care, food and beverage, and paints and coatings industries. The increasing requirements for various personal care and cosmetic products in the European market space will augment the demand for cellulose ether & derivatives. The increased penetration of cosmetic producers in the region has led to an increase in the consumption of products, such as hair care formulations, skin care creams, lotions, and makeup products. Cellulose ether & derivatives find applications in the European food and beverage industry as well. They are used as thickening agents, stabilizers, and emulsion stabilizers in various food products, including dairy products, sauces, dressings, and baked goods. The demand for natural and plant-based ingredients in the food industry further drives the use of cellulose ethers.
Prominent companies include The Dow Chemical Company (US), Ashland Global Holdings, Inc. (US), Rayonier Advanced Materials (US), Shin-Etsu Chemical Co., Ltd. (Japan), LOTTE Fine Chemicals (South Korea), DKS Co. Ltd. (Japan), Nouryon Chemical Holdings B.V. (The Netherlands), J.M. Huber Corporation (US), Shandong Head Co., Ltd. (China), Colorcon (US), FENCHEM (China), Lamberti S.p.A. (US), J. RETTENMAIER & SÖHNE GmbH + Co KG (Germany), among others.
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