Asia: Leading the Growth of Cellulose Ether
MIKEM Information Asia: Leading the Growth of Cellulose Ether Asia: Leading the Growth of Cellulose Ether According to the latest report from IHS Markit,
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Cellulose Ether Market Is Predicted to Reach to USD 235 Billion by 2026
Cellulose Ether Market Is Predicted to Reach to USD 235 Billion by 2026
Cellulose ether is made of refined cotton as the key raw materials by chemical treatment and the reaction of etherifying agents. Nowadays, it has been applied in various industries like construction, oil drilling, the food and pharmaceuticals industry, etc. It is predicted that the cellulose ether market will record a CAGR of 2.9% in terms of value, from 2020 to reach USD 235 Billion by 2026, says Global Market Insights Inc.
Reasons Analysis for Increasing Market of Cellulose Ether
In general, the growth in demand among the following industries is contributing to the increasing consumption of cellulose ether across the globe. The industries and areas are shown in the below chart:
(Data source: Reports and Data)
On the one hand, increasing the use of cellulose ether in the construction industry is an important factor to stimulate the demand in the next 5 years. In the construction industry, paints are the main area that uses cellulose ether. With the popularity of latex paints due to their environment-friendly character in recent years, the demand for cellulose ether for paints also increase significantly. The principal function of cellulose ether as a thickening agent is to make the paint reach the desired storage and viscosity for construction. Owing to its strong water retention, cellulose ether can be added to the emulsion to absorb enough water and substantially expand in volume, thereby significantly increasing the viscosity of the latex. Therefore, the increasing use of paints is one of the biggest driving forces for increasing consumption.
On the other hand, the rising demand for paper-related products also contributes greatly to the growth market of cellulose ether. Its functionality, recyclability, and biodegradability will drive the demand increase in the forest years. Europe will account for over 25% share of the demand for paper-related products. It can be primarily attributed to its large production ability of paper and pulp. Besides, the increasing demand for hygiene products such as baby wipes, face masks, and floor wipes across Europe will also increase the demand. In addition, the EU has implied a directive to prohibit the sale of plastic disposables, which will be effective in 2021, which will also stimulate the growth in the consumption of cellulose products across Europe.
MIKEM is a global manufacturer and distributor of specialty chemical products. Headquartered in Dallas, USA, we have branches, offices, manufacturing plants, and warehouses in several countries. In 2020, we completed our construction of a new modern cellulose production base in China. Besides, we have established a strong partnership with global manufacturers. Our advanced supply chain services can provide customers with comprehensive market analysis and supply chain solutions based on our knowledge and market understanding. We strive to provide our customers with the most cost and performance-effective products that best suit their specific industrial needs.
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