NEWARK, Del, July 24, 2023 (GLOBE NEWSWIRE) -- The Global Cellulose Derivative Market Size is estimated to secure a valuation of US$ 6.1 Billion in 2023 and reach US$ 10.3 Billion by 2033. The market secured a CAGR of 5.4% during the forecast period.
Key Drivers of the Global Cellulose Derivative Market
Several factors are influencing the global market to contribute to growth and development.
- Increasing Demand in Food & Beverages: The demand for cellulose derivatives is rising in the food & beverages sector as emulsifiers, thickeners, and stabilizers. The rising demand for convenience and processed foods to improve stability and texture in food products is fueling the global market.
- Expanding Pharmaceuticals and Personal Care Industries: The pharmaceuticals and personal care sectors are increasingly adopting cellulose derivatives for drug formulations, film formers, and controlled-release agents.
- Sustainable and Renewable Nature: The growing popularity of plant-based cellulose derivative drive the global market for renewable sources. This sustainability raises concerns about an environment that offer a biodegradable and renewable alternative.
- Rising Demand for Functional and Specialty Papers: The increasing demand for packaging materials, filtration papers, and coated paper increases the adoption of cellulose derivation. Increasing demand for specialty papers in various end-use industries such as food & beverages, healthcare, and electronics.
- Technological Advancements and Product Innovation: The increasing investment in research and development activities driving the global market. Growing advanced technologies in the cellulose derivative, such as nanotechnology and chemical modifications, expand the global market.
- Growing Construction Industry: The rising demand for construction materials such as gypsum, cement, and mortar products. These products enhance workability, water retention, and adhesion, driving the global market.
- Growing Cosmetic and Personal Care Sector: Increasing demand for shampoos, creams, lotions, and other cosmetics fuels the global market revenue. These products improve sensory properties, thickening, and emulsion stabilization.
- Regulatory Factors: The rising regulatory frameworks and standards regarding environment and product safety drive the market size. The increasing compliance with regulations with FDA approvals ensures the acceptance of cellular derivation products in several industries.
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Key Takeaways in Cellulose Derivative Market Research Study:
- The cellulose derivation market is estimated to capture a valuation of US$ 10.3 billion with a CAGR of 5.4% by 2033.
- In the historical period, the market secured a CAGR of 4% between 2018 and 2022.
- The United States Cellulose Derivative Market is estimated to register a share of 21.4% in the global market by 2033.
- With a share of 7.4%, Germany Cellulose Derivative Market is securing a share of the global market during the forecast period.
- Japan Cellulose Derivative Market is estimated to capture a share of 5.3% of the global market by 2033.
- With a share of 2.1%, the Australian Cellulose Derivative Market is anticipated to drive the market size during the forecast period.
Top 10 Companies in Cellulose Derivative Industry and Their Marketing Strategy
The market is highly competitive by several prominent players globally. These players are developing innovative products by adopting advanced technologies in the global market. Key players heavily invest in research and development activities to fuel the market size. They are adopting various marketing tactics such as mergers, collaborations, and partnerships to uplift the global market.
Top Key Players are:
- Shin-Etsu Chemical Co. Ltd
- LOTTE Fine Chemical
- Samsung Fine Chemicals
- Daicel Corporation.
- Akzo Nobel N.V.
- Ashland Inc.
- SE Tylose GmbH & Co. KG
- CP Kelco
- Shandong Head Europe BV
- Sichuan Nitrocell Co Ltd
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Recent Developments in the Global Market
- In 2021, Nouryon announced its new manufacturing facility to innovate sustainable additives. The company increases the production of paint and coatings with eco-friendly additives to increase the business portfolio.
Cellulose Derivative Market by Category
By Derivative Type:
- Methyl
- Carboxymethyl
- Hydroxyethyl
- Ethyl
- Other Types
By Derivative Grades:
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
By End Use:
- Food Industry
- Pharmaceutical Industry
- Personal Care
- Construction
- Paint Industry
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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Have a Look at Trending Reports of Chemicals & Materials Domain:
Carboxymethyl Cellulose Market Share: Growing demand for carboxymethyl cellulose from food, paints, coatings, paper & pulp, construction, and textile industries is a factor driving growth in the market.
Methyl Cellulose Market Size: Methyl cellulose is a buffer additive in chemical labs to control electroosmotic flow for enhanced separation in capillary electrophoresis. Methyl cellulose is also used as a substitute for gluten free items in consumer products.
Paint Additives Market Trends: Global demand for the paint additives market is expected to register a CAGR of 4.6% by accumulating a market value of US$ 14,877.8 Million by the end of 2032.
Coating Additives Market Outlook: The global coating additives market was valued at around US$ 10,613.3 Million in 2021 and is anticipated to reach US$ 17,724.8 Million by 2032.
Castor Oil Derivatives Market Demand: The castor oil derivatives market is expected to expand its roots at an average CAGR of 4.9% during the forecast period.
Microcrystalline Cellulose Market Growth: The market value is expected to grow from US$ 974.7 million in 2023 to US$ 1,794.1 million by 2033 end, due to its growing demand across numerous end-use industries across the world.
Bromine Derivatives Market Type: The global business is projected to witness a growth rate of 3.9% over the forecast period of 2022 and 2029.
Construction Textile Market Analysis Forecast: The global construction textile market is projected to have an average-paced CAGR of 6.8% during the forecast period.
Construction Aggregates Market Sale: The anticipated size of the construction aggregates market in 2022 was US$ 382.4 billion and is estimated to be US$ 395.67 billion in 2023.
Construction Chemicals Market Value: The global demand for the construction chemicals market is anticipated to grow at a CAGR of 6.7% and to be valued at US$ 104.92 billion in 2032.
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