Growing construction industry and increasing use of gelling agents in food and beverages sector to drive global cellulose ether & its derivatives market through 2024
According to TechSci Research report, “Global Cellulose Ether and Its Derivatives Market By Product Type, By End-User, By Region, Competition, Forecast & Opportunities, 2024”, global cellulose ether & its derivatives market is projected to cross $ 5 billion by 2024, driven by increasing construction activities along with growth of pharmaceutical and personal care industries. Some of the key players in the market are Ashland Inc., Du Pont, Cp Kelco, Shin-Etsu Chemical Co. Ltd., Akzonobel, Ashland Inc., Daicel Finechem Ltd., Lotte Fine Chemicals, DKS Co. Ltd. and China Ruitai International Holdings Co. Ltd.
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In terms of end-user, the market has been segmented into construction, personal care & detergents, food & beverages, pharmaceuticals, oilfield applications and others. Among the various application segments, the construction sub-segment holds the largest market share. Cellulose ethers are widely used to prevent water loss, delay coagulation and enhance the strength of structures. They also perform functions such as thickening, binding and act as a protective colloid in many industries including food and beverages, pharmaceuticals, oil-field chemicals and others (textiles and automobiles).
Based on product type, the market has been segmented as carboxy methyl, methyl cellulose, hydroxy ethyl cellulose, hydroxypropyl methyl cellulose and others (ethyl, hydroxypropyl, carboxymethyl cellulose, others. Among these product types, carboxy methyl cellulose account for nearly half of the market share, owing to its increasing usage in pharmaceuticals, personal care and food & beverages industries. In personal care industry, it is used in detergents and toothpaste and as a thickening agent in oil drilling activities.
Asia-Pacific is the dominating regional market for cellulose ether & its derivatives, with significant developments in Japan, India, China and South Korea. The Asia Pacific region is anticipated to account for the largest demand for cellulose ether & its derivatives until 2024, owing to growing investments in prominent applications including construction, mining, drilling fluids in oilfields as well as pharmaceutical industries.
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“Government initiatives aimed at improving infrastructure is anticipated to propel the growth of construction industry, globally. Notably, the market is expected to witness substantial growth during the forecast period, owing to increasing demand for cellulose ether & its derivatives in construction as binders, thickeners and water-retention agents. Increasing penetration of cellulose ethers in pharmaceuticals, paints and food applications is also anticipated to have a positive impact on the global market.”, stated Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Cellulose Ether & Its Derivatives Market By Product Type, By End-User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global cellulose ether & its derivatives market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global cellulose ether & its derivatives market.
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