The top companies in the carboxymethyl cellulose market include Akzo Nobel N.V., CP Kelco U.S., Inc., (A Subsidiary Of J.M. Huber Corporation Company), Ugur Seluloz Kimya A.S, Química Amtex S.A. De C.V, The Dow Chemical Company, DKS Co. Ltd., Nippon Paper Industries Co. Ltd, Daicel Corporation, Ashland Inc., and Lamberti S.P.A.
Microcrystalline Cellulose Market was valued at USD 713.1 million in 2019 and it is projected to reach USD 1,300.1 million by 2028, growing at a CAGR of 6.9% during the forecast period. Major factors that are driving the microcrystalline cellulose market are the increase in consumption of processed foods, growing pharmaceutical industries aggressively and awareness regarding health is increasing across the world.
Microcrystalline cellulose is a chemically inert and tasteless compound with multiple applications in food, pharmaceutical, cosmetics & personal care and paints & coating sector. It is used as a substitute to unhealthy fat and provides texture for baked food products. The product caters a large amount of fiber that helps in improving the digestion. It also serves as an excellent nutrition contributor for several nutrients. Rapidly growing population, increasing obesity epidemic and changing consumer perception towards healthier foods will drive the product adoption.
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The pharmaceutical is the leading industry with a maximum consumption of microcrystalline cellulose. The steady growth of the pharmaceuticals in developed economies such as Italy, Germany, and France is another driver of the market. Its application as an excipient in most of the pharmaceutical formulations is a propelling factor for the market. The increasing geriatric population coupled with other factors need a constant advancement in the pharmaceuticals, which, in turn, raises the demand for microcrystalline cellulose.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT Analysis:
The key leading players in the microcrystalline cellulose market are Mingtai Chemical Co., Ltd., DuPont, Accent Microcell Pvt. Ltd, JRS Pharma GmbH & Co. KG, Asahi Kasei Chemicals Corporation, DFE Pharma GmbH & Co.KG, Avantor Performance Materials Inc., Huzhou City Linghu Xinwang Chemical Co., Ltd, Shandong Xinda Biotechnology Co., Ltd, Blanver, Libraw Pharma, Rayonier Advanced Materials, Sigachi Industrial Pvt. Ltd., Roquette, FrieslandCampina, Juku Orchem Private Limited, among others.
Some of the key Impact Factors:
Key developments in the Microcrystalline Cellulose Market:
There are large numbers of players that are operating in the global microcrystalline cellulose market. Top manufacturers capture the largest market share in the global microcrystalline cellulose market. The major market players have production and sales offices mainly located in North America, Asia Pacific, and the European region. Besides this, the growth of the healthcare industry along with the food & beverages and personal care industries across the emerging regions are the major factors that cater to the growth of the microcrystalline cellulose market in these regions.
Market Segmentation:
By Raw Material Type:
By Application:
By Region:
North America
Asia Pacific
Western Europe
Eastern Europe
Middle East
Rest of the World
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Global Cellulose Acetate Market is expected to grow at a CAGR of 5.78% in the upcoming period as the scope and its applications are rising enormously across the globe. Cellulose acetate is a synthetic compound obtained from the acetylation of the plant substance cellulose. It is spun into textile fibers termed as triacetate, acetate rayon, or acetate. It may be molded into solid plastic parts like food wrapping, handles, or cast into a film for photography.
The factors that are playing a major role in the growth of market are increasing technological enhancement and infrastructural developments and growing investment by manufacturers for developing effective cigarette filters of cellulose acetate. However, governments’ strict policy regarding wood pulp procurement may restrain overall market growth in the years to come. Cellulose acetate market is segmented based on type, application, and region.
Plastic and fiber are the types that could be explored in cellulose acetate in the forecast period. The fiber type sector accounted for the substantial market share of cellulose acetate and is estimated to lead the overall market in the years to come. The reason could be the high demand from end-users like textiles & apparels and cigarette manufacturing and its easy availability.
The market could be categorized based on application like tapes & labels, cigarette filters, photographic films, textiles & apparel, and others could be explored in the forecast period. Textile and apparel sector is estimated to grow at the fastest pace in the years to come. The reason could be a rising demand for specialty cellulose acetate and technological enhancement in the textile industry.
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Globally, Asia Pacific accounted for the substantial market share of cellulose acetate and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be increasing the use of cellulose acetate in tapes & labels, cigarette filters, photographic films, and textiles & apparel.
Also, the availability of cheap labor in developing countries, high economic growth, and developing manufacturing industries are another factors boosting overall market growth in the years to come. The developing countries like India and China are the major consumers of cellulose acetate in this region.
North America and Europe are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the forecast period. The key players of the cellulose acetate market are Eastman Chemical Company, Celanese, Daicel, Mitsubishi Chemicals, and China Tobacco Corporation. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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