Asia-Pacific to Dominate Global Cellulose Ether & Its Derivatives Market till 2024
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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