Hyderabad, India, October 28, 2020 –(PR.com)– Cellulose Ethers Market Overview
The global cellulose ethers market valued USD 4,292.87 million in 2019 and is expected to grow at a CAGR of 4.83%. This rise in market value can be attributed to the increase in awareness regarding the benefits of cellulose ether and its derivatives increase in the number of oil drilling activities.
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Cellulose ethers are finding applications in wide range of end user industries including construction, ceramic processing, adhesives, pharmaceuticals and healthcare, cosmetics and personal care, food and beverage, household products, textiles and others.
In the context of geography, Asia-Pacific is projected to have the largest market share of 39% and dominate the cellulose ethers market from 2020 to 2027. A high economic growth rate, growing demand for applications (such as, mining, construction, drilling fluids in oilfields, pharmaceuticals, and others), cheap labor, and competitive manufacturing costs are the main factors driving the market for cellulose ethers in the region.
The surging demand for cellulose ethers in food and beverage industry
Advantageous features of cellulose ethers are driving demand for this product in the world
Availability of substitutes
Volatility in raw material prices
COVID Impact on Cellulose Ethers Market
The global cellulose ethers market has witnessed a dual impact on the product demand in recent months owing to the lockdowns imposed in the majority of the countries due to the outbreak of COVID-19.
There is a large demand of hand sanitizers globally, which has caused the raw material- Carbomer 940 continues to be out of stock and the prices soared. To cope with the shortage of Carbomer, in April 2020, Sidley Chemical Co., Ltd. introduced HPMC (Hydroxypropyl Methylcellulose) to be used as thickener for alcohol hand sanitizer after their research and experiments.
Owing to its applications in various end use industries, the market for methyl cellulose derivatives valued USD 1,113.93 million in 2019 is estimated to reach USD 1.496.15 million by 2027, growing at a CAGR of 4.65% during 2020-2027.
The market value for cellulose ethers in the food and beverage industry is expected to witness a CAGR of 6.12% to grow from USD 935.76 million in 2019 to USD 1,443.37 million in 2027.
Cellulose ethers have huge value in pharmaceutical applications due to characteristics including high glass transition temperatures, high chemical and photochemical stability, solubility, limited crystallinity, hydrogen bonding capability, and low toxicity.
The cellulose ethers market in U.S valued at USD 499.20 million in 2019 and is estimated to reach USD 592.41 million in 2027, by growing at a CAGR of 3.07% during 2020-2027.
The food and beverage industry is an essential part of the US economy. Between agriculture, manufacturing, retail, and food service, the sector makes up roughly 5% of the country’s GDP and 10% of employment. Its sales total $1.4 trillion.
The cellulose ethers market in Asia Pacific region valued at USD 1,679.70 million in 2019 and is estimated to reach USD 2,541.52 million in 2027, by growing at a CAGR of 6.47% during 2020-2027.
Asia Pacific is the largest market in cellulose ethers, with market segments like textile industry, cosmetics and pharmaceuticals growing in the coming years. Moreover, the increasing penetration of the manufacturing base in the Asian countries is expected to support the growth.
Chinese textiles exports witnessed an annual growth of 8.1% in 2018 over 2017. In terms of share in world textile exports, China remained a global leader, with a share of around 37%. With the increase in textile production, the market is expected to register a gradual growth in China.
The Indian textiles sector is one of the oldest industries in the Indian economy dating back several centuries. India’s overall textile exports stood at USD 39.2 Million in FY18 and are expected to increase to USD 82.00 Million by 2021.
– For instance, in June 2020, Nouryon has completed its acquisition of the carboxymethyl cellulose (CMC) business of J.M. Huber Corporation.
– In December 2018, Norton (the subsidiary of Akzo Nobel) launched Bermocoll EBM 3000, which enhances the performance of water-based multicolor paints used on building cover-ups to simulator the appearance of stone or marble.
– In December 2018, Dow expanded production capacity of methyl cellulose. In March 2018, DKS merge with lithium battery Mie-based unit Elexcel which is engaged in lithium battery development and manufacture.
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