Hydroxyethyl Cellulose Market size is expected to reach USD 1.2 billion by 2030

 Hydroxyethyl Cellulose Industry Overview

The global hydroxyethyl cellulose market size was valued at USD 813.9 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030.

 

Growing utilization of hydroxyethyl cellulose in several end-use industries such as construction, paints and coatings, textile, food, pharmaceuticals, paper and printing inks, personal care and cosmetics, and oilfields is estimated to drive the market in the near future. The market is highly competitive in nature, owing to the presence of a large number of players who try to gain a competitive edge over others with their product quality, superior distribution networks, and various other strategies. These companies contribute a high market share accounting for nearly 70-75%.

 

Gather more insights about the market drivers, restrains and growth of the Global Hydroxyethyl Cellulose Market


Top manufacturers have defined different grades of products such as pharmaceutical, application, and industrial-grade, which provide a competitive edge in the market for hydroxyethyl cellulose. Demand for hydroxyethyl cellulose is anticipated to be driven by the expanding construction and infrastructure industry and increasing oil and gas exploration activities. Similarly, the demand for building materials is expected to witness increasing consumption owing to the expanding construction industry. Similarly, consumption of water-borne paints and coatings is anticipated to increase owing to their growing consumption in architectural coatings over the forecasted period.

 

The regulatory framework for water borne coating is governed by the Technische Anleitung (TA), Luft environment protection act, US Environment Protection Agency, and REACH. These regulatory bodies specify the chemical and physical risks associated with the use of raw materials in the manufacturing of water borne coatings and paints and general requirements for labeling, storage, and the use of these raw materials. Rising health and environmental concerns arising from the use of hazardous textile chemicals have led to the increasing adoption of sustainable alternatives such as hydroxyethyl cellulose in the textile industry. Also, increasing awareness pertaining to the use of organic and sustainable alternatives in personal care and cosmetics products is likely to propel the product demand globally.

 

Browse through Grand View Research's Renewable Chemicals Industry Research Reports

  • Chitosan Market: The global chitosan market size was valued at USD 10.88 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 20.1% from 2023 to 2030.
  • Argan Oil Market: The global argan oil market size was estimated at USD 299.45 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.4% from 2023 to 2030.

 

Market Share Insights

  • March 2021: Ashland Global Holdings Inc. announced plans to expand its Natrosol Hydroxyethyl Cellulose (HEC) production capacity in Nanjing, China. This expansion is in line with the company’s growth strategy and commitment to investing in the region.

 

Key Companies Profile

 Some of the prominent players in the hydroxyethyl cellulose market include:

  • Ashland
  • Dow Chemicals
  • Shin-Etsu Chemicals Co., Ltd.
  • AkzoNobel N.V.
  • Daicel Corporation
  • Lotte fine Chemicals
  • Chemcolloids Ltd.
  • Zhejiang Haishen New Materials Limited
  • Yil-Long Chemical Group
  • Wuxi Sanyou New Material Technology Co., Ltd.

 

Order a free sample PDF of Hydroxyethyl Cellulose Market Intelligence Study, published by Grand View Research.

 

 

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