The global cellulose ether & its derivatives market was valued at $ 4.10 billion in 2018 and is projected to reach $ 5.39 billion by 2024, growing at a CAGR of 4.83% during the forecast period. High growth application areas including personal care, pharmaceuticals, food ingredients and construction coupled with expansion and new product launch activities undertaken by companies are the leading factors expected to drive the global cellulose ether & its derivatives market during forecast period. The market for cellulose ether & its derivatives has been segmented into product type, end-user and region.
Based on product type, the market has been categorized into carboxy methyl cellulose, methyl cellulose, ethyl cellulose andhydroxypropyl methyl cellulose. Of these segments,sodium carboxymethyl celluloseis expected to dominate the market, owing to its applications in the fast-growing industries such as pharmaceuticals and food & beverages in addition to revival in oilfield activities.
However, hydroxypropyl methyl cellulose is anticipated to be the fastest growing product type during the forecast period, backed by high growth in the end-use industries including pharmaceuticals, construction and oil drilling. Further, based on application, the market has been segmented into pharmaceuticals, personal care, food & beverages, construction, oilfield applications and others. The Asia-Pacific region is the largest market for cellulose ether & its derivatives, accounting for more than 40% of the global market. Furthermore, among all the countries, China dominated the cellulose ether & its derivatives market, followed by Japan and the rest of Asia-Pacific countries.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
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