Methyl Cellulose Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2027
Methyl Cellulose is a chemical compound which is
mainly derived from cellulose. It is available in the form of a hydrophilic
white powder in pure form and dissolves in cold water which then forms a clear
viscous solution or gel. Various kind of Methyl Cellulose derivatives can be
prepared depending upon the number of hydroxyl groups. It is used as a
thickener and emulsifier in numerous food and cosmetic products. Moreover, it
is used as a water retaining adjuvant and is used in wood finishing as a
thickener additive in paints.
They prevent paint pigments from settling and offer
excellent smoothness and consistency along with better adhesion of paint.
Furthermore, they find wide application scope in numerous application such as
cosmetic & personal care, pharmaceutical, paints & coatings,
construction material, and others.
Some of the prominent market factors that positively
influence the Methyl Cellulose Market growth are increasing demand from
construction sector, improving living standard, and continuous growth of
automotive industry. Rapid industrialization combined with rising disposable
income in emerging economies are expected to drive market growth over the
forecast period, 2017 to 2023. Additionally, increasing investment in the
residential, institutional, and industrial construction sector is estimated to
give new impetus to the Methyl Cellulose demand over the assessment period.
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Competitive Analysis:
The major players operating in the Methyl Cellulose
Market include The Dow Chemical Company (U.S.), Ashland (U.S.), Sigma-Aldrich
Co. LLC. (U.S.), Zhejiang Kehong Chemical Co. Ltd (China), BASF SE (Germany),
LOTTE Fine Chemical (South Korea), Shin-Etsu Chemical Co., Ltd (Japan),
Reliance Cellulose Products Ltd. (India), Zhejiang Kehong Chemical Co. Ltd.
(China), J. RETTENMAIER & SÖHNE GmbH + Co KG (Germany) and others.
Market Segmentation:
The Global Methyl Cellulose Market is divided into
derivative, application, and region. On the basis of derivative, the market is
segmented into hydroxyethyl methyl cellulose, hydroxybutyl methyl cellulose,
and hydroxypropyl methyl cellulose. Among these, hydroxypropyl methyl cellulose
is expected to grow with the highest CAGR on account of its wide utilization in
cosmetics & personal care products. Moreover, it provides better viscosity
and colloid stabilization in various types of lotions and creams. It can be
highly consumed as a stabilizer on account of its relatively high surface
activity. Furthermore, these are used to thicken and stabilize shampoos, shower
gels, and liquid soaps and a wide variety of skin care products. On the basis
of application, the market is segmented into construction material, cosmetic
& personal care, paints & coatings, pharmaceutical, and others. As of
2016, construction material was predicted to hold the largest share in
application segment and is predicted to continue its dominance over the
assessment period on account of rising construction activities across the
globe. Furthermore, Methyl Cellulose protects the fibers from absorbing water
and oil and thus find extensive use in paper and textile market as a sizing
substance.
Regional Analysis:
Asia Pacific is estimated to be the largest market
for Methyl Cellulose Market followed by North America and Europe on account of
rising demand from cosmetic & personal care, paint & coatings, and
construction sector. Emerging economies such as India, China, Malaysia, and
Vietnam are the fastest growing market for Methyl Cellulose, and is estimated
to grow with the same pace in the near future. North America Methyl Cellulose
Market is estimated to witness a steady growth with Canada and U.S. being major
contributor due to robust manufacturing base of pharmaceutical and textile
industries. Europe is expected to witness a substantial growth over the
assessment period owing to technological advancement and increasing R&D
spending by major players in the Methyl Cellulose Market.
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