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DUBLIN , Dec. 13, 2021 /PRNewswire/ -- The "Cellulose Ether & Derivatives Market - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global Cellulose ether & derivatives is expected to grow from USD 5.7 billion in 2021 to USD 8.7 billion by 2026, at a CAGR of 9.4% during the forecast period.
Increasing demand from various end-use applications is majorly driving the growth of the market. The cellulose ether & derivatives are used in construction, pharmaceutical, personal care, food & beverage, paints & coatings, and various other applications. However, the negative impact of the COVID-19 pandemic on the end use industries has affected the cellulose ether & derivatives market adversely.
The methyl cellulose & derivatives is the fastest-growing product type segment of cellulose ether & derivatives in terms of value and volume.
The methyl cellulose & derivatives product type segment is expected to witness high growth because of the growth in the product requirements, the growth in developing economies, and the technological developments in different applications. The major properties of methyl cellulose & derivatives include high viscosity, non-toxic nature, and hypoallergenic among others. It is widely utilized in construction, pharmaceutical food & beverage, personal care, and other applications which will drive the demand during the forecast period.
The pharmaceutical application to lead the hydroxypropyl cellulose (HPC) product type segment in 2020
The demand for HPC in pharmaceutical application is expected to increase during the forecast period. The product is extensively used in the pharmaceutical industry as thickening agents, viscosity builders, fillers, disintegrating agents, taste-masking agents, coating agents, and gelation agents. These are mostly used in healthcare product formulations. These compounds play a prominent role in osmotic drug delivery systems, bioadhesives, dosage forms, mucoadhesives, and compression tablets.
The demand for HPC in the pharmaceutical application is expected to increase as the pharmaceutical industry is booming, globally. As the industry grows, due to the increase in the number of diseases, accidents, geriatric population, and health awareness, the demand for hydroxypropyl cellulose in the pharmaceutical application will also increase. Therefore, the demand for HPC in pharmaceutical application will observe a surge during the coming years.
APAC to lead the cellulose ether & derivatives during the forecast period
APAC is projected to have the largest share in the cellulose ether & derivatives and will expand significantly by 2026. This dominance is attributed to the rising demand from domestic industries in the region. The demand for cellulose ether & derivatives is growing, especially, in APAC and Latin America .
The markets in these regions are expected to register high growth in comparison to other regions. The growth of the cellulose ether & derivatives market in the APAC region is also driven by high economic growth, increase in manufacturing industries, availability of cheap labour, growing end-use markets, and the global shift of production facilities from developed markets to developing markets.
For more information about this report visit https://www.researchandmarkets.com/r/l8r3ln
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