The Cellulose Ether Market was worth USD 5.04 Billion in 2017 and is projected to reach around USD 7.67 Billion by 2024.
Pune, India -- (SBWIRE) -- 11/19/2018 -- The Cellulose Ether Market was worth USD 5.04 Billion in 2017 and is projected to reach around USD 7.67 Billion by 2024. The Cellulose Ether Market is estimated to grow at a CAGR of 6.26% during the forecast period 2018-2024. The Asia-Pacific region accounted for the largest market share of approximate 46% in 2017 and is expected to remain dominant through the forecast period. The Asia-Pacific region is expected to grow at highest CAGR of 6.95% during the forecast period.
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Cellulose ethers are generated from alkaline cellulose when converted after the extraction of cellulose from cotton or wood by washing with water, drying and grinding. Cellulose ethers are white bulky solids that form clear, hygroscopic films. Cellulose ethers are made by treating cellulose with concentrated sodium hydroxide followed by etherification with one or more reagents such as methyl chloride, ethyl chloride, ethylene oxide or propylene oxide. Moreover, cellulose ethers are used in many industries such as pharmaceuticals & personal care, textiles, construction and chemicals due to their properties like solubility, moisture absorption, thickening, binding and water retention.
The global cellulose ether market was sized over USD 4.75 billion in 2016. Growing demand for cellulose ether products owing to their unique properties such as water solubility, binding, water retention, surface activity, emulsification and PH stability is the key factor driving the cellulose ether market across the globe. Moreover, high availability of raw materials required for the production of cellulose ethers as well as low cost of production will drive the cellulose market globally. Furthermore, increasing demand for cellulose ethers owing to their applications such as pharmaceutical & personal care, chemicals, detergents and pulp & paper will drive the global cellulose market over the forecast period. However, fallen prices of guar gum which is used as a substitute over to cellulose ether in the foods & beverages industry as well as nonionic thickeners which are being used in formulations of paints & coatings as an alternative to cellulose ether are the prime factor restraining the growth of global cellulose ether market. Nevertheless, growing demand for cellulose ether in aqueous solutions owing to its properties such as surface activity which make it to act as a stabilizer as well as a thickener and growing technological developments as well as increasing consumer awareness will bring more opportunities to the global cellulose ether market over the forecast period.
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Major Key Players Mentioned in this Premium Report
The companies covered in the report include The Dow Chemical Company, Ashland Inc., Akzo Nobel N.V, Shin-Etsu Chemical Company, Zhejiang Kehong Chemical Company Ltd., Daicel FineChem Ltd., Reliance Cellulose Products Ltd., Fenchem Biotek Ltd., CP kelco and China Ruitai International Holdings Co. Ltd.