The global cellulose derivative industry size is estimated to secure a valuation of US$ 6.1 billion in 2023 and reach US$ 10.3 billion by 2033. The market secured a CAGR of 5.4% during the forecast period.
Which Factors are Driving the Global Market?
Several factors are influencing the global market to contribute to growth and development.
- Increasing Demand in Food & Beverages: The demand for cellulose derivatives is rising in the food & beverages sector as emulsifiers, thickeners, and stabilizers. The rising demand for convenience and processed foods to improve stability and texture in food products is fueling the global market.
- Expanding Pharmaceuticals and Personal Care Industries: The pharmaceuticals and personal care sectors are increasingly adopting cellulose derivatives for drug formulations, film formers, and controlled-release agents.
- Sustainable and Renewable Nature: The growing popularity of plant-based cellulose derivatives drives the global market for renewable sources. This sustainability raises concerns about an environment that offers a biodegradable and renewable alternative.
- Rising Demand for Functional and Specialty Papers: The increasing demand for packaging materials, filtration papers, and coated paper increases the adoption of cellulose derivation. Increasing demand for specialty papers in various end-use industries such as food & beverages, healthcare, and electronics.
- Technological Advancements and Product Innovation: The increasing investment in research and development activities driving the global market. Growing advanced technologies in the cellulose derivative, such as nanotechnology and chemical modifications, expand the global market.
- Growing Construction Industry: The rising demand for construction materials such as gypsum, cement, and mortar products. These products enhance workability, water retention, and adhesion, driving the global market.
- Growing Cosmetic and Personal Care Sector: Increasing demand for shampoos, creams, lotions, and other cosmetics fuels the global market revenue. These products improve sensory properties, thickening, and emulsion stabilization.
- Regulatory Factors: The rising regulatory frameworks and standards regarding environment and product safety drive the market size. The increasing compliance with regulations with FDA approvals ensures the acceptance of cellular derivation products in several industries.
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Key Takeaways:
- The cellulose derivation market is estimated to capture a valuation of US$ 10.3 billion with a CAGR of 5.4% by 2033.
- In the historical period, the market secured a CAGR of 4% between 2018 and 2022.
- The United States is estimated to register a share of 21.4% in the global market by 2033.
- With a share of 7.4%, Germany is securing a share of the global market during the forecast period.
- Japan is estimated to capture a share of 5.3% of the global market by 2033.
- With a share of 2.1%, Australia is anticipated to drive the market size during the forecast period.
How Key Players Take Efforts to Drive the Global Market?
The market is highly competitive by several prominent players globally. These players are developing innovative products by adopting advanced technologies in the global market. Key players heavily invest in research and development activities to fuel the market size. They are adopting various marketing tactics such as mergers, collaborations, and partnerships to uplift the global market.
Recent Developments in the Global Market
In 2021, Nouryon announced its new manufacturing facility to innovate sustainable additives. The company increases the production of paint and coatings with eco-friendly additives to increase the business portfolio.
Some Leading Cellulose Derivative Manufacturers Include:
- Shin-Etsu Chemical Co. Ltd
- LOTTE Fine Chemical
- Samsung Fine Chemicals
- Daicel Corporation.
- Akzo Nobel N.V.
- Ashland Inc.
- SE Tylose GmbH & Co. KG
- CP Kelco
- Shandong Head Europe B.V.
- Sichuan Nitrocell Co Ltd
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Cellulose Derivative Market by Category
By Derivative Type:
- Methyl
- Carboxymethyl
- Hydroxyethyl
- Ethyl
- Other Types
By Derivative Grades:
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
By End Use:
- Food Industry
- Pharmaceutical Industry
- Personal Care
- Construction
- Paint Industry
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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