Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Cellulose Derivatives Market Size, Share & Trends Analysis Report By Type, (Methyl Cellulose, Ethyl Cellulose, Hydroxypropyl Methylcellulose) By Grade (Industrial Grade, Pharmaceutical Grade), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global cellulose derivatives market is poised for significant growth, projected to reach a market size of USD 10.7 billion by 2030, with a steady CAGR of 6.8% from 2023 to 2030. Hpmc Structure
Driving this surge in demand is the rising need from the food and beverage industry, where cellulose derivatives find extensive use as thickeners, stabilizers, and emulsifiers in various products like ice creams, yogurts, sauces, and dressings.
The versatility of cellulose derivatives is evident in its varying penetration across different industries. Products such as cellulose acetate and ethyl cellulose are widely embraced in textiles, pharmaceuticals, and food & beverage packaging sectors, while others cater to more niche applications.
An increasing focus on environmentally friendly and sustainable materials, coupled with advancements in production processes that broaden the scope of applications, is propelling the overall growth of the cellulose derivatives market.
Notably, the Asia Pacific region is expected to be a key player in driving market expansion. Factors such as the burgeoning food and beverage industry, growing pharmaceutical sector, and an expanding personal care market are anticipated to boost demand for cellulose derivatives as pharmaceutical excipients, binders, and disintegrants in the region.
Looking ahead, the future of cellulose derivatives in the global market remains bright, driven by the growing demand for sustainable and eco-friendly materials. The global shift towards more sustainable consumption patterns and increased awareness of the environmental impact of various materials will continue to bolster demand for cellulose derivatives.
Additionally, continuous advancements in production processes and exploration of new applications are expected to further fuel the market's growth trajectory. The cellulose derivatives market stands poised to play a pivotal role in shaping a greener and more sustainable future.
Cellulose Derivatives Market Report Highlights
Carboxymethyl cellulose is the fastest-growing type segment with a CAGR of 9.3% on account of its use as a viscosifier and suspension agent to control the rheological properties of the drilling fluid
The industrial grade segment is expected to expand with a CAGR of 6.6% since it is used as raw materials in various applications such as textiles, cellulose acetate, cellulose nitrate manufacturing, papermaking, and the production of adhesives, sealants, and gels
The demand for biodegradable products is driving market growth since they are used as a key raw material in the production of biodegradable products such as biodegradable plastics, food packaging, and other disposable items
The companies are investing in R&D activities to develop new and innovative products with improved functionality and performance. CP Kelco, one of the key manufacturers, is focusing on expanding its production capacity in Asia Pacific region to meet growing demand for the cellulose derivatives
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
SE Tylose GmbH & Co.KG
CP Kelco U.S., Inc.
Zibo Hailan Chemical Co., Ltd.
Cellulose Derivatives Market: Variables, Trends & Scope
Increasing Use of Cellulose Derivatives in End-Use industries
Growing demand for biodegradable and eco-friendly products
Impact of European Geopolitical Conflict
Industry Analysis - Porter's Analysis
Industry Analysis - Porter's
U.S. FDA: CFR - Code of Federal Regulations Title 21 (Cellulose Derivatives)
U.S. FDA: CFR - Code of Federal Regulations Title 21 (Carboxypropyl Methylcellulose)
E 464 Hydroxypropyl Methyl Cellulose - EU Specification
For more information about this report visit https://www.researchandmarkets.com/r/a2uzce
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