Cellulose Derivative Market Spurs as Demand from Various End-Use Industries Grows

Posted by Rajkumar on March 14th, 2023

The cellulose derivative market refers to the industry that produces and sells a wide range of products derived from cellulose, a natural polymer found in plant cell walls. Cellulose derivatives are widely used in various industries such as pharmaceuticals, food and beverages, cosmetics, and construction.

The global cellulose derivative market is expected to grow at a CAGR of around 6% during the forecast period of 2021-2026. The market is driven by the increasing demand for cellulose derivatives in the food and beverage industry as a thickening agent, stabilizer, and emulsifier. The growing awareness among consumers about the health benefits of cellulose derivatives is also driving the market growth.

The major players operating in the cellulose derivative market include Dow Chemicals, Ashland Inc., Shin-Etsu Chemical Co., Ltd., Eastman Chemical Company, AkzoNobel N.V., and others. These companies are adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to expand their market presence and enhance their product portfolio.

The cellulose derivative market is segmented based on type, application, and region. Based on type, the market is segmented into methyl cellulose, ethyl cellulose, hydroxypropyl cellulose, carboxymethyl cellulose, and others. Based on application, the market is segmented into pharmaceuticals, food and beverages, cosmetics and personal care, construction, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.