PUNE, India, January 16, 2017 /PRNewswire/ --
The report "Cellulose Ether & Its Derivatives Market by Product Type (Methyl, Ethyl, Hydroxyethyl, Hydroxypropyl, Carboxymethyl Cellulose), Application (Pharmaceuticals, Personal Care, Foods & Beverages, Surface Coatings & Paints), Region - Global Forecast to 2021", published by MarketsandMarkets, the market was valued at USD 4.51 Billion in 2015 and is projected to reach USD 6.41 Billion by 2021, at a CAGR of 6.0% from 2016 to 2021.
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Browse 97 market data Tables and 42 Figures spread through 166 Pages and in-depth TOC on "Cellulose Ether & Its Derivatives Market"
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This growth is fueled by the growing technological developments, increasing demand in application areas such as, personal care, pharmaceuticals, construction, food ingredients, rising development strategies, and increasing expansion and acquisition activities.
Pharmaceuticals - The largest market for cellulose ether & its derivatives
The pharmaceutical industry is the biggest consumer of cellulose ether & its derivatives and accounted for a major share of the market, in terms of value, in 2015. Cellulose ether & its derivatives are used as tablet binders and pharmaceutical excipients (non-active ingredients). The market for cellulose ether & its derivatives in the pharmaceutical industry is driven by the rise in demand for advanced drugs.
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Hydroxyethyl cellulose- The fastest growing cellulose derivative
The Hydroxyethyl Cellulose (HEC) derivatives market is the fastest growing cellulose derivative, among others, especially in the Asia-Pacific region, due to the rise in demand for nonionic HEC in oil drilling, paints & coatings, mining and construction activities, and personal care applications. Also, the growing use of HEC in cement, lime, gypsum, organic plasters & mortars is expected to further result in strong growth from the construction application.
Asia-Pacific - The largest market for cellulose ether & its derivatives
The Asia-Pacific region is the largest Cellulose Ether & Its Derivatives Market with major developments witnessed in China, Japan, India, and South Korea. The Asia-Pacific region accounted for half of the global cellulose ether & its derivatives market, in terms of value, in 2015. This region is expected to lead the market till 2021. The Asia-Pacific region is expected to remain the largest region till 2021 with high investments in growing applications such as, mining, construction, drilling fluids in oilfields, and pharmaceutical industries. Also, the Asia-Pacific region is projected to be the fastest-growing in the cellulose ether & its derivatives market. This high growth is attributed to the expansions of production capacities, competitive manufacturing costs, and others.
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Major players such as, Lotte Chemicals (Korea), AkzoNobel Performance Additives (The Netherlands), Ashland Inc. (U.S.), SE Tylose (Germany), and CP Kelco. (U.S.), and others have adopted development strategies such as, expansions, acquisitions, and product developments to achieve growth in the global cellulose ether & its derivatives market
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