The ethyl cellulose market size has seen strong growth. It is projected to rise from $0.81 billion in 2023 to $0.88 billion in 2024, growing at a CAGR of 9.4%. The growth is driven by the growing use of cosmetic and personal care products, rising demand from the pharmaceutical industry, increasing use of paints and coatings, the rise in solar panel production, and growing demand in the plastics industry.
The ethyl cellulose market is projected to grow to $1.27 billion by 2028, at a CAGR of 9.4%. Growth drivers include research on natural polymers, the construction sector's demand, regulatory support for biodegradable products, and the rise of e-commerce platforms. Key trends include innovations in food packaging, tailored ethyl cellulose applications, and advancements in coating solutions.
Major Driver In The Ethyl Cellulose Market
The expansion of the plastic industry is anticipated to drive the ethyl cellulose market's growth. The plastic industry involves the production and manufacturing of plastic materials for various sectors such as packaging, automotive, construction, electronics, and healthcare. This industry's growth results from large-scale synthetic polymer production and its increasing application in packaging, especially for consumer goods and food, due to its versatility, durability, and cost-effectiveness, along with a focus on sustainability and recycling. Ethyl cellulose serves as a binder, film-former, and thickener in coatings and adhesives. For instance, in August 2024, sales of plastics and rubber products manufacturing in Ontario reached $21.6 million in 2022, a 16.9% increase compared to 2021, illustrating the plastic industry's expansion and its positive impact on the ethyl cellulose market.
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Ethyl Cellulose Market Competitive Landscape
Dow Inc., Eastman Chemical Company, Celanese Corporation, Nouryon Chemicals Holding B.V., FMC Corporation, Daicel Corporation, Ashland Global Holding Inc., Borregaard AS, Colorcon Inc., Lamberti S.p.A., DKS Co. Ltd., Fenchem Biotek Ltd., Shandong Head Co. Ltd., Huzhou Zhanwang Pharmaceutical Co. Ltd., J. Rettenmaier & Söhne GmbH Co KG, SE Tylose GmbH & Co. KG, Scope Ingredients Pvt. Ltd., LOTTE Fine Chemical Co. Ltd., Sidley Chemical Co. Ltd., Asha Cellulose Pvt. Ltd.
Key Ethyl Cellulose Market Trend
Companies in the ethyl cellulose market are focusing on sustainable products to reduce environmental impact and meet the demand for eco-friendly solutions. These products aim to deliver the same functionality as traditional ethyl cellulose while promoting sustainability. In April 2022, Nouryon, a Netherlands-based chemicals manufacturer, launched Bermocoll FLOW cellulose ether, a natural alternative to synthetic paint thickeners. This product combines the flow and leveling properties of synthetic thickeners with the stability of cellulose thickeners, enabling optimal paint rheology without complex systems.
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Global Ethyl Cellulose Market Segmentation
The ethyl cellulose market covered in this report is segmented –
1) By Type: Cosmetic Grade, Food Grade, Industrial Grade, Pharmaceutical Grade
2) By Source: Cotton, Wood Pulp
3) By Application: Personal Care and Cosmetic, Food, Pharmaceuticals, Paint And Ink, Textiles And Paper, Other Applications
By Geography:The regions covered in the ethyl cellulose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the ethyl cellulose market in 2023.
The Ethyl Cellulose Global Market Report 2024 furnishes information about the global ethyl cellulose market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
