Increasing demand from oil and gas industry is expected to significantly contribute towards expansion of the global market for guar gum. According to the current scenario, food and beverage industry is creating tremendous opportunities for the growth of global market. Rising incidences of health disorders like cardiac elements and diabetes are creating opportunities for However, cost-effective alternatives are likely to create obstructions for the growth of global market.
A recent report anticipates that the global market for guar gum will expand at a sluggish 2.8% CAGR during the forecast period, 2017-2026, to touch an evaluation of over US$ 1.3Bn by the end of 2026. Companies namely Vikas WSP, India Glycols Ltd, Cargill Inc., Lamberti, Supreme Gums Pvt. Ltd, Rama industries and Ashland Inc. amongst others will observe a substantial growth worldwide. Leading companies are concentrating on marketing strategies such as product developments and expanding their product portfolio.
Vikas WSP Export Orders to Contribute Towards Business Expansion
Vikas WSP manufacturers are making heavy investments in research and development for creating innovative guar gum products. This would help in catering to the increasing needs from the food industry. The company has obtained trial export orders from MNC customers for guar gum 480U, in order to utilize it in convenient and lacto-fermented food applications. Manufacturers in the food industry are working towards increasing food applications, properties, composition, processing, production and is planning to promote health advantages with guar gum.
Apart from this, Vikas WSP has received export order for its innovative ‘Thermo Guar-30’ – a guar gum product. This innovative product is largely accepted by Nestle, Unilever Global and various other customers of Vikas WSP in Germany and China. Shipment of the new guar gum products will be done within next two quarters. Key players can plan to invest in this company of enter into collaboration with Vikas WSP. As the product is fresh in the market, there is possibility of increase in production sales, which in turn will benefit the global market for guar gum. Furthermore, Vikas WSP has planned to consolidate its export business of guar gum polymers.
Vikas WSP Hits Upper Circuit After a Significant Export Order
Vikas WSP hits nearly 5% upper circuit by Rs.15.93 on BSE, after receiving an export order of approximately Rs.92.37 Cr for the newly developed and innovative guar gum ‘Thermogel-25’. The MNC customers have ordered the new guar gum products for the purpose of utilizing it in sausage roll and ultra-fermented applications. This helps in binding free water for extended period of time, thereby improving the mouthfeel, naturally. According to recent news, it has been observed that there is increasing usage of guar gum products in North America and Europe, which in turn is expected to benefit the global market for guar gum products.
Vikas WSP gets financing help from Punjab National Bank of nearly Rs.24.37Cr. The company is also improving its efforts in developing guar gum products for technical purposes such as mining paper, textile printing, oil drilling and pet food.
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