Global Methyl Cellulose Market share Overview, Growth Forecast, Demand and Development Research Report to 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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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.
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.
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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