Cellulose Derivatives Global Market Report 2024

The cellulose derivatives market size has grown strongly in recent years. It will grow from $5.86 billion in 2023 to $6.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historic period can be attributed to several factors, including the increased demand for eco-friendly and sustainable products, heightened usage in industries such as pharmaceuticals, food and beverage, and personal care, a regulatory landscape conducive to the use of cellulose derivatives, and growing awareness about the benefits of these derivatives across various applications.

The cellulose derivatives market size is expected to see strong growth in the next few years. It will grow to $8.53 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. In the forecast period, growth is expected to be driven by the expansion of the pharmaceutical and personal care industries, increased adoption of cellulose derivatives in new applications such as 3D printing and biodegradable packaging, rapid urbanization and industrialization in emerging markets, and innovations in manufacturing processes leading to improved cost-efficiency. Major trends anticipated during this time include consolidation through mergers and acquisitions, development of advanced cellulose derivatives, increased use of cellulose ethers for thickening and stabilizing purposes, growing demand for microcrystalline cellulose in pharmaceuticals, and the adoption of cellulose esters in specialty coatings and films.

The growth of the cellulose derivatives market is expected to be driven by the increasing demand for pharmaceuticals and personal care products. This demand is fueled by factors such as growing health consciousness, aging populations, and advancements in medical and cosmetic technologies. Cellulose derivatives play a crucial role in these industries as thickeners, stabilizers, and excipients, improving the texture, stability, and delivery of active ingredients. For instance, the European Federation of Pharmaceutical Industries and Associations reported in June 2023 that pharmaceutical production reached around $374.0 billion in 2022, up from $356.35 billion in 2021. Similarly, the U.S. Department of Commerce noted in July 2023 that sales of beauty and personal care products in China reached $88 billion in 2021, showing a 10% increase from the previous year. Therefore, the growing demand for pharmaceuticals and personal care products will propel the cellulose derivatives market's growth.

Major companies in the cellulose derivatives market are focusing on innovative and sustainable solutions, such as cellulose thickeners, to address environmental concerns and meet the rising demand for eco-friendly products across industries. Cellulose thickeners enhance viscosity and stability in various products, including food, pharmaceuticals, and cosmetics. For example, Nouryon launched Bermocoll flow cellulose ethers in April 2022, offering improved sag resistance, leveling, spatter resistance, and hiding compared to standard thickeners in paint systems. This water-soluble product is particularly suitable for low-VOC paint formulations and airless spray applications, providing a natural and sustainable option for interior and exterior decorative paints.

In September 2022, Roquette acquired Crest Cellulose Pvt. Ltd. to strengthen its presence in the cellulose derivatives market and enhance its offerings for the pharmaceutical and personal care industries. Crest Cellulose Pvt. Ltd., based in India, specializes in producing cellulose derivatives for various applications in these sectors.

Major companies operating in the cellulose derivatives market are The Dow Chemical Company, Shin-Etsu Chemical Co. Ltd., AkzoNobel N.V., Eastman Chemical Company, Celanese Corporation, Nippon Paper Industries Co. Ltd., Sappi Limited, Nouryon, SNF Group, Daicel Corporation, Ashland Global Holdings Inc, Rayonier Advanced Materials Inc, LOTTE Fine Chemical Co. Ltd, Viscofan, CP Kelco ApS, Lamberti SpA, Yueyang Xingchang Petrochemical Co Ltd, DKS Co Ltd, Shandong Head Co Ltd, J RETTENMAIER & SÖHNE GmbH + Co KG, Reliance Cellulose Products Ltd, SE Tylose GmbH & Co KG, Hangzhou Dayangchem Co Ltd.

Asia-Pacific was the largest region in the cellulose derivatives market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the cellulose derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the cellulose derivatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cellulose derivatives are compounds derived from cellulose through chemical modifications, aimed at enhancing or altering its properties for various applications. These derivatives offer improved processability and functionality, making them ideal for creating environmentally friendly products that are biodegradable and non-toxic.

The main types of cellulose derivatives include methylcellulose, hydroxypropyl methylcellulose (HPMC), hydroxypropyl cellulose (HPC), carboxymethylcellulose, hydroxyethyl cellulose (HEC), ethyl cellulose, among others. Methyl cellulose, for instance, is utilized in pharmaceuticals as a thickener, emulsifier, and binder in tablet formulations. These derivatives are further categorized into grades such as Industrial Grade, Food Grade, and Pharmaceutical Grade, catering to end-users such as the food industry, pharmaceutical industry, personal care sector, construction industry, paint industry, and more.

The cellulose derivatives market research report is one of a series of new reports that provides cellulose derivatives market statistics, including cellulose derivatives industry global market size, regional shares, competitors with an cellulose derivatives market share, detailed cellulose derivatives market segments, market trends and opportunities, and any further data you may need to thrive in the cellulose derivatives industry. This cellulose derivatives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cellulose derivatives market consists of sales of cellulose acetate butyrate (CAB), cellulose acetate propionate (CAP), and cellulose nitrate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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