NEWARK, Del, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The global cellulose ether and derivatives market is anticipated to reach a valuation of US$ 9.0 billion in 2024, driven by growing awareness of green products. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 9.6% between 2024 and 2034, and reaching a total valuation of approximately US$ 22.6 billion by 2034.
One of the major factors contributing to the growth of the market is the increased use in oil and gas industry. Cellulose ethers are employed in drilling fluids in the oil and gas industry. The demand for cellulose ethers in this sector is expected to grow, as exploration and drilling activities continue. Cellulose ethers find applications in the textile industry for sizing, finishing, and printing. The growth of the textile industry, particularly in developing economies, is expected to contribute to increased demand for cellulose ethers.
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The growing consumer preference for bio based and renewable materials has led to an increased demand for bio based polymers, including cellulose ethers, in various industries such as packaging, automotive, and textiles. Ongoing advancements in manufacturing technologies, including modified cellulose production techniques, are expected to lead to improved product quality, cost effectiveness, and expanded application possibilities.
Cellulose ethers may find applications in lightweight composites and coatings, as the automotive industry continues to emphasize lightweight materials for improved fuel efficiency and environmental impact. The development of smart and intelligent building materials that offer enhanced performance and sustainability can drive the integration of cellulose ethers in innovative construction solutions. The rise of 3D printing technology in various industries, including healthcare, automotive, and aerospace, presents opportunities for the utilization of cellulose ethers in 3D printing materials and processes.
Key Takeaways from the Market Study
- Global cellulose ether and derivatives market was valued at US$ 8.1 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 12.3%.
- The market in Korea is expected to expand at a CAGR of 12.0% through 2034.
- By type, the carboxymethyl cellulose segment to account for a CAGR of 9.4% through 2034.
“Cellulose ethers are utilized in water treatment applications for their thickening and stabilization properties. The demand for cellulose ethers in this sector may increase, as concerns over water quality and treatment continue,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape
Prominent players in the cellulose ether and derivatives market are Ashland Global Holdings, Inc, Colorcon, DKS Co. Ltd, Fenchem Biotek Ltd, Hebei Jiahua Cellulose Co., Ltd, J.M. Huber Corporation, J. RETTENMAIER SOHNE Gmbh, Lamberti S.p.A, LOTTE Fine Chemicals, and Nouryon Chemical Holdings B.V., among others.
Company Portfolio
- Colorcon, as a leading hydrocolloid producer, specializes in providing cellulose ethers for applications in food and beverages, pharmaceuticals, and industrial sectors. The global reach of the company, and focus on customer centric solutions contribute to its competitive edge.
- Nouryon Chemical Holdings B.V is a significant regional player in the cellulose ether market. The company focuses on catering to the growing demand in the construction and pharmaceutical industries.
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Segmentation Analysis of the Cellulose Ether and Derivatives Market
By Type:
- Carboxymethyl Cellulose
- Hydroxypropyl Cellulose
- Methyl Cellulose
- Hydroxyethyl Cellulose
- Ethyl Cellulose
By End Use:
- Pharmaceutical
- Food and Beverage
- Construction
- Personal Care
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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