Methyl Cellulose Market Summary
As per Market Research Future Analysis, the Methyl Cellulose Market was valued at USD 1,690 million in 2022 and is projected to reach USD 2,440 million by 2030, growing at a CAGR of 4.5%. Methyl Cellulose, a hydrophilic compound derived from cellulose, is utilized across various sectors including paints & coatings, pharmaceuticals, construction materials, and cosmetics. The market is driven by rising awareness, an increasing number of working professionals, and a booming construction sector. Innovations in product offerings and the growing importance of personal grooming are expected to further enhance market growth. The Asia Pacific region is anticipated to witness the highest growth due to demand from developing countries like India and China, while North America and Europe also contribute significantly to the market.
Key Market Trends & Highlights
Key trends influencing the Methyl Cellulose Market include rising demand in various applications and innovative product launches.
- Market valued at USD 1,690 million in 2022; projected to reach USD 2,440 million by 2030.
- Asia Pacific expected to grow at the highest CAGR due to increasing construction activities.
- New product innovations, such as IFF's controlled release platform, are enhancing market offerings.
- Rising demand for personal care products is boosting Methyl Cellulose usage in cosmetics.
Market Size & Forecast
2022 Market Size | USD 1,690 million |
2030 Market Size | USD 2,440 million |
CAGR | 4.5% |
Major Players
The Dow Chemical Company (U.S.), Ashland (U.S.), Sigma-Aldrich Co. LLC. (U.S.), Zhejiang Kehong Chemical Co. Ltd (China), BASF SE (Germany), LOTTE Fine Chemical (South Korea), Shin-Etsu Chemical Co., Ltd (Japan), Reliance Cellulose Products Ltd. (India), J. RETTENMAIER & SÖHNE GmbH + Co KG (Germany)