Methyl Cellulose Market Analysis, Trends, and Forecasts 2019-2027
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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