Hydroxyethyl Cellulose Market Share by Manufacturers 2030

Hydroxyethyl Cellulose Market Growth & Trends

The global hydroxyethyl cellulose market size is expected to reach USD 1.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. The growth is majorly driven by rising demand for cellulose products in water-borne architectural paints and coatings, textile, personal care and cosmetics, and other industrial applications. The cellulose esters market is anticipated to be driven by growing demand in the paper and paperboard, textile, photographic films, and food and beverages industries. The production process of HEC begins with cellulose as a raw material in the form of sheets and rolls, which are treated with sodium hydroxide solution and reacted with ethylene oxide.

U.S. hydroxyethyl cellulose market size, by application, 2020 - 2030 (USD million)

Hydroxyethyl Cellulose Market Segmentation

Grand View Research has segmented the global hydroxyethyl cellulose market on the basis of application and region:

Based on the Application Insights, the market is segmented into Building Materials, Water Borne Paints & Coatings, Oil fields, Personal Care & Cosmetics, Pharmaceuticals, Textiles, Food, Paper & Printing Inks, Others.

  • The water borne paints and coatings application segment dominated the market for hydroxyethyl cellulose and accounted for the largest revenue share of 25.4% in 2021. Its high share is attributable to the increasing usage of the product in architectural coatings intended for on-site application to interior and exterior surfaces of commercial, residential, and institutional buildings. The product provides thickness to paints and helps eliminate sagging, which is one of the most important characteristics required.
  • Stringent government regulations regarding VOC emissions, especially in Europe and North America, are projected to augment the growth of the water-borne coatings and paints segment. The rising trend in the automotive industry to use water borne coatings and paints in all repair work is further anticipated to propel the demand for hydroxyethyl cellulose over the coming years. The future growth of water borne paints and coatings, both in terms of volume and revenue, is highly dependent on the awareness among consumers regarding the safety of the products and the government regulations associated with them.
  • The oilfields segment accounted for the second-largest revenue share of 15.5% in the market for hydroxyethyl cellulose in 2021. This is attributed to the wide usage of HEC due to its properties such as thickening, lubrication suspension, and others. Hydroxyethyl cellulose is very effective in large hole drilling and spudding technologies. Using HEC with drilling fluid significantly reduces the hydrodynamic friction, which results in reduced pump pressure. It is also useful in reducing the chances of oil well leakage.

Hydroxyethyl Cellulose Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

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 & Market Share Insights

The competition in the market for hydroxyethyl cellulose is highly dependent on the grade of products, the number of sellers/manufacturers, and geographical location. The products manufacturers are engaged in continuous R&D activities, capacity expansion, mergers and acquisitions, and other strategies to gain a competitive advantage over others.  

Some of the prominent players operating in the global 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 the Hydroxyethyl Cellulose Market Intelligence Study, published by Grand View Research.

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