The growth of the construction industry has led to an augmented application paints and coatings which, in turn, is leading to a demand influx in the cellulose ethers market that is poised to attain an impressive global market size of $4726.59 million by the end of 2023 as the demand for cellulose ethers will observe an increment in various sectors with a cumulative compound annual growth rate (CAGR) of 4.54% during the forecast period of 2018 to 2023, according to a market intelligence report by IndustryARC’s analyst.
The cellulose ethers market research report is segmented to enable understanding about the current trends in the market along with market forces and trends that are disrupting the market and creating new opportunities. It is also comprised of the challenges that are foreseen in the future with the factor that will sustain the market size. The report is titled, “Cellulose Ethers Market: Cellulose Ethers Market: By Type (Carboxymethyl Cellulose, Methyl Cellulose, HEC, HPC, EC); By Form (Powder, granules, others); By Application (Food & Beverage, Personal Care, Construction, Adhesives, others); & By Geography Forecast (2018 2023).”
Cellulose Ethers Market: Leading Segments
According to the regional study by the market analyst, APAC had an impressive cellulose ethers market size of $1329.42 million in 2017. This was much attributed to the incremented application of cellulose ethers in cosmetics, food, and construction sector. Furthermore, the textile sector is on the rise which is also creating a demand for cellulose ethers. Apart from APAC, North America and Europe also observed good revenues even though the CAGR is projected to be moderate but sustainable for vendors to venture into the cellulose ethers market.
The cellulose ethers market is segmented on the basis of types that include carboxymethyl cellulose (CMC) and methyl cellulose & derivatives (MCD), hydroxyethyl cellulose (HEC), ethyl cellulose, and others. According to the application scrutiny by market analyst, the key application in the cellulose ethers market is found to be CMC, especially because it is used as a viscosity modifier or thickener and also stabilize emulsions in the frozen food products. Additionally, the water retaining capacity makes it all the more useful. The application of caroboxymethyl cellulose will grow with a CAGR of 4.02% through to 2023.
Cellulose Ethers Market: Trends and Growth Drivers
- The Easy Manufacturing Process Attracting Vendors –
The manufacturing process of cellulose ethers is relatively easier than other alternative products that are available in the market. Furthermore, the lesser investments and better returns attract a lot of vendors that venture in the cellulose ethers market.
- The Global Expansion of the Pharmaceutical Industry –
The pharmaceutical industry is poised to observe impressive growth. A type of methyl cellulose acts as an excipient in the pharmaceutical manufacturing process. The augmenting production in the pharmaceutical industries is poised to create robust growth potential in the cellulose ethers market.
- The Growth Prospects in the Cosmetic Industry –
The decade has observed soaring sales in the cosmetic and personal care products owing to the rise in disposable personal income and the fact that the trend of male-grooming is disrupting the market. Subsequently, there is a demand for cellulose ethers in the cosmetics segment which is leading to revenue generation in the cellulose ethers market.
- The Rising Consumption of Water-Based Paint –
The construction sector is witnessing an increased application of water-based paint which is significantly supporting the cellulose ethers market. This is again attributable to the water-retaining property of cellulose ethers.
Cellulose Ethers Market: Competitive Landscape
Some of the key companies identified in the cellulose ethers market intelligence report that are striving to capitalize on the demand influx in various sectors are DowDupont Inc., Ashland Inc., Shin-Etsu Chemical Co., Ltd., Lotte Corporation, and others.
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a) Nanocellulose Market
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