The global cellulose ether & derivatives market size is expected to reach USD 12.79 billion by 2030, according to a new study by Polaris Market Research. The report “Cellulose Ether & Derivatives Market Share, Size, Trends, Industry Analysis Report, By Type (Carboxymethyl Cellulose, Hydroxypropyl Cellulose, Methyl Cellulose, Hydroxyethyl Cellulose, Ethyl Cellulose); By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is expected to experience growth during the forecast period owing to rising industrialization, increasing population, and growing environmental concerns. The rise in environmental awareness and increase in the adoption of sustainable and eco-friendly products drive the growth of the global industry.
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The rise in application in construction, personal care, and pharmaceutical sectors has increased the demand for cellulose ether & derivatives in recent years. Cellulose ether & derivatives are increasingly being used in pharmaceutical and personal care products.
An increase in awareness among consumers regarding health, hygiene, and wellness, a shifting trend toward the use of natural and bio-based products, and investments in material advancements support the growth of the industry. Industry players are introducing new sustainable products in the market to cater to the growing consumer demand and strengthen their market position.
Asia Pacific region accounted for a significant revenue share in 2021. Rise in population, industrialization, and increase in awareness among consumers boosts the demand for cellulose ether & derivatives. Greater demand from the construction sector on account of increasing application in the residential sector coupled with the development of public infrastructure and construction of offices and factories have boosted the industry growth in the region.
The outbreak of COVID-19 negatively influenced the global cellulose ether & derivatives industry. The industry was affected by reduced demand from the automotive, construction, and textile industries. Lockdown restrictions were imposed across the world to restrict the movement of people and contain the virus, which led to disruptions in the supply chain and the shutting of manufacturing activities. Low availability of raw materials, operational challenges, and lack of workforce further resulted in limited industry growth during the pandemic.
Cellulose Ether & Derivatives Market Report Highlights
- The methyl cellulose segment accounted for a major share owing to its application in production of paints, coatings, and adhesives
- The construction segment accounted for the largest share owing to strengthening construction sector in developing countries and growth in adoption of green buildings
- Asia Pacific accounted for a significant share on account of growth in the construction sector and increase in application in the personal care sector
- The global market is highly competitive owing to the existence of large industry players with global presence including Ashland Global Holdings, Inc, DKS Co. Ltd, Hebei Jiahua Cellulose Co., Ltd., J.M. Huber Corporation, LOTTE Fine Chemicals, Nouryon Chemical Holdings B.V, Shandong Head Co., Ltd, Shin-Etsu Chemical Co., Ltd, The Dow Chemical Company, and Zibo Hailan Chemical Co., Ltd
Polaris Market Research has segmented the cellulose ether & derivatives market report based on type, end-use, and region:
Cellulose Ether & Derivatives, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Carboxymethyl Cellulose
- Hydroxypropyl Cellulose
- Methyl Cellulose
- Hydroxyethyl Cellulose
- Ethyl Cellulose
Cellulose Ether & Derivatives, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Food and Beverage
- Personal Care
Cellulose Ether & Derivatives, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa