APAC Tops the Global Cellulose Ether Market | Technavio

LONDON–(BUSINESS WIRE)–#CelluloseEther–The latest market research report by Technavio
on the global
cellulose ether market predicts a CAGR of more than 6% during the
period 2017-2021.

The report segments the global cellulose ether market by application
(pharmaceutical, food and beverages, personal care, and paint and
coatings) and by geography (APAC, Europe, North America, and ROW). It
provides a detailed illustration of the major factors influencing the
market, including drivers, opportunities, trends, and industry-specific
challenges.

Here are some key findings of the global cellulose ether market,
according to Technavio chemicals
and materials researchers:

• Growth in the processed foods industry: a major market driver
• In 2016, the pharmaceutical segment dominated the market by occupying
  more than 41% share
• APAC dominated the global cellulose ether market with more than 51%
  share in 2016
• Akzo Nobel, Ashland, LOTTE Fine Chemical, SHANDONG HEDA, and The Dow
  Chemical Company are the leading players in the market

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Growth in the processed foods industry: a major market driver

Growth in the processed foods industry is one of the major factors
driving the global cellulose
ether market. The change in the patterns of consumer behavior and
the growth of the processed food industry is expected to drive the
global cellulose ether market. The growing demand for convenience foods
and fast food is increasing the requirement for lightweight packaging.
Apart from this, the properties of cellulose ether such as better water
solubility and biodegradability are positively influencing the need for
cellulose ether in food packaging. The packaging of a product plays an
important role in the demand and shelf life of products. Processed foods
need easy and flexible packaging material that is convenient and ensures
product safety.

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APAC: largest cellulose ether market

In APAC, the major application industries of cellulose ether market such
as the pharmaceutical, construction, food and beverage, and others are
thriving due to significant economic growth rates. More than half of the
world’s population lives in Asia. Consequently, the demand for
healthcare is also high, which is proportional to the increasing rates
of income, population, disease rates, and other factors. Thus, the
medical device and pharmaceutical drug manufacturers in APAC are
planning on different strategies to introduce high-quality products at
low cost for more number of patients.

According to Hitesh Bhatia, a lead analyst at Technavio for research on
specialty
chemicals, “Among all the countries in APAC, India is the prime
destination for medical tourism, followed by China. Furthermore, the
healthcare sector in Australia and South Korea is also expected to grow
during the forecast period. Hence, APAC is a major pharmaceutical
manufacturing powerhouse in the world. This is mostly due to the
increasing number of pharmaceutical companies in India, Singapore, and
Malaysia. Hence, APAC is slated to enjoy a good growth rate.”

Competitive vendor landscape

The global cellulose
ether market is one of the growing markets that consists of major
vendors whose presence is widely recognized in APAC. Some of the vendors
in the market are Akzo Nobel, Ashland, LOTTE Fine Chemical, SHANDONG
HEDA, and The Dow Chemical Company. The market is moderately
concentrated. Key vendors have integrated their business in the backward
direction, in a cost-effective way. Apart from this, the companies are
consistently working on plans to extend their product portfolio by
investing heavily in R&D. The competitive environment might further
intensify over the next five years since vendors are expected to compete
based on factors such as the production cost, product innovation, price,
operational cost, R&D cost, and product quality.

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