The cellulose ether & derivatives market is projected to grow 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. During the forecast period, the cellulose ether & derivatives market is expected to grow in the coming years, driven by increasing demand from various industries such as the construction industry, pharmaceutical, food & beverages, and personal care. The market is also expected to benefit from technological advancements in cellulose ether & derivatives manufacturing processes.
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Based on type, the Carboxymethyl cellulose segment has the largest share in the cellulose ether & derivatives market in 2022 in terms of volume. Carboxymethyl cellulose (CMC) is a water-soluble cellulose derivative that is used in a variety of applications, including food, pharmaceuticals, personal care, and industrial products. CMC is a versatile polymer that can be used to modify the properties of other materials, such as its viscosity, water retention, and gelling properties. The growth of the food, pharmaceutical, and personal care industries is expected to drive the demand for Carboxymethyl cellulose.
Based on application, The paints and coatings of the hydroxyethyl cellulose type segment are expected to have the largest share of the cellulose ether & derivatives by application segment in 2022 by value. Hydroxyethyl cellulose is widely used in paints and coatings applications due to its unique combination of properties, including improved rheology control, enhanced film formation, stability, water retention, and compatibility. Hydroxyethyl cellulose acts as an effective thickener and rheology modifier in water-based paints and coatings. It provides viscosity control, preventing sagging or dripping during application and improving the overall consistency and texture of the formulation. Hydroxyethyl cellulose helps in achieving the desired flow properties and ease of application. Advanced and superior characteristics of hydroxyethyl cellulose type driving the paints and coatings application.
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Based on Region, Europe was the third-largest market for cellulose ether & derivatives in 2022, with Germany being the largest market in the region. Europe’s construction sector is a major consumer of cellulose ether & derivatives. These compounds are used as additives in cement, mortar, tile adhesives, and other construction materials to improve workability, water retention, adhesion, and durability. The growing construction activities and emphasis on energy-efficient buildings contribute to the demand for cellulose ether & derivatives in the region. The pharmaceutical and personal care industries in Europe extensively utilize cellulose ethers & derivatives. They serve as key ingredients in pharmaceutical formulations, providing functionalities such as binding, thickening, stabilizing, and controlled release. In personal care products, cellulose ethers enhance viscosity, texture, and moisturizing properties.
Major players operating in the cellulose ether & derivatives market 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). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader geographical use cases, and a larger product footprint.
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