Carboxymethyl Cellulose (CMC) is a tasteless and odorless organic compound that is known for its high viscosity and non-toxic nature. It is used by a variety of industries like pharmaceutical, food and beverages, oil and gas, and detergent industries. The global carboxymethyl cellulose market is projected to exhibit a CAGR of 3.5% between the years 2020 and 2030 owing to the rise in demand by various industries.
What are the various drivers for the global carboxymethyl cellulose market?
With the enhancement in technology, there has been an increase in the production of several industries like pharmaceutical and cosmetics, food and beverages industries, and oil and drilling activities. Carboxymethyl cellulose is widely utilized by these industries as binder, thickener and stabilizer for a variety of purposes. The increase in income level of people in the developing countries like India, China and Mexico will boost the household consumption, thereby increasing the revenue generated by different businesses in the industry. The growth of these industries led to the rise in demand of CMC which is one of the major drivers for the global carboxymethyl cellulose market.
- 1 What are the major restraints to the carboxymethyl cellulose market?
- 2 What is the regional distribution of the global carboxymethyl cellulose market?
- 3 What are the latest application-based insights on the carboxymethyl cellulose market?
- 4 What is the current market landscape in the carboxymethyl cellulose market?
- 5 Conclusion
What are the major restraints to the carboxymethyl cellulose market?
Carboxymethyl cellulose is used by a wide range of industries for a variety of purposes. It is a stable compound and safe for the environment which makes it popular among the industries. But the organic compound is quite difficult to acquire and requires a large investment to set up the processing and manufacturing units necessary for the production. This acts as a limiting factor to the growth of the market. In addition to this, a large number of substitutes have been introduced in the market that can be used in place of CMC to achieve similar results. For example, guar gum provides an alternative to the cellulose gum as it has applications in several industries and can be acquired at relatively cheaper rates.
What is the regional distribution of the global carboxymethyl cellulose market?
The global carboxymethyl cellulose market is dominated by the Asia-Pacific region in terms of revenue and consumption. The region accounts of approximately 39% of the total share in the CMC market in terms of volume owing to the rise in demand of the compound by various end-user industries like pharmaceutical and cosmetics, food and beverages, oil and gas and detergent industries in the developing economies like India, China and Japan. Europe has the second largest market for CMC followed by North America and the rest of the world.
What are the latest application-based insights on the carboxymethyl cellulose market?
The food and beverages industry accounts for the maximum portion of the total share in the carboxymethyl cellulose market in terms of volume and revenue. Other key industries include pharmaceutical and cosmetics, oil and gas, and detergent manufacturing that contribute to a significant part of the market. The growing awareness among people regarding the importance of health and nutrition has led to the rise in consumption of the food and beverage industry. With the increase in disposable incomes of people from the emerging economies, the pharmaceutical and cosmetics production is expected to rise, due to the increase in demand.
What is the current market landscape in the carboxymethyl cellulose market?
The key players in the market are focusing on technological advancements and research and development to create effective products and attain a competitive edge over other major companies. They are thriving to create better opportunities to promote the growth and development of the market.
Some of the major players in the global carboxymethyl cellulose market include Akzo Nobel N.V., CP Kelco U.S., Inc., (A Subsidiary of J.M. Huber Corporation Company), Ugur Seluloz Kimya A.S, Química Amtex S.A. De C.V, Dow Chemical Company, DKS Co Ltd, Nippon Paper Industries Co. Ltd, Daicel Corporation, Ashland Inc., and Lamberti S.P.A.
The carboxymethyl cellulose market is expected to show growth and development in the following years driven mainly by the rise in demand by different end-user industries like food and beverages, and pharmaceutical and cosmetics. The diverse properties and high versatility of CMC makes it popular among various industries worldwide. The organic compound has been declared safe for the environment and comes with a green label which acts as an added bonus in spurring the growth of the market. The major companies are focusing on innovation and research to develop latest products to create opportunities of growth and expansion of the carboxymethyl cellulose market.
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