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Press Release: Carboxymethyl Cellulose Market to reach around US$ 1,342.9 million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Carboxymethyl cellulose is cellulose gum which is extracted from wood pulp and pure cotton. Cellulose gum is widely used across various industries which include oil &gas, agriculture, cosmetics & personal care, paint, paper processing, pharmaceutical, food & beverages, and household care industries.
Drivers:
Growing demand for functional ingredients in the food that helps in making food gluten-free and low-fat content is expected to drive the market growth of carboxymethyl cellulose. It helps in thickens and stabilize the food and also replaces food by increasing fiber content in food. Moreover, growing demand for frozen desserts that have low in fat content and gluten-free is again expected to propel the market growth. CMC helps in preventing melting of ice creams and yogurts and maintain the texture of desserts.
Increasing demand for natural stabilizers from the pharmaceutical industry for manufacturing of various drugs is expected to fuel the market growth of carboxymethyl cellulose. Rising geriatric populations is driving demand for healthcare needs which is influencing industrial growth. Thus, the growing demand for natural stabilizers for drug manufacturing is expected to augment the market growth of carboxymethyl cellulose.
Figure 1. Global Carboxymethyl cellulose Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global carboxymethyl cellulose market in 2019, accounting for 35.9% share in terms of value.
Market Restraints
Threat from substitute such as hydroxypropyl cellulose, guar gum, ethylcellulose and methylcellulose as they possess similar properties and can replace carboxymethyl cellulose in numerous applications. This factor is expected to hinder the market growth of the carboxymethyl cellulose.
The decline in raw material quantity is hampering the production of the carboxymethyl cellulose. This is affecting the demand and supply of the product. This factor is projected to hinder the market growth over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 1,039.5 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 3.2% | 2027 Value Projection: | US$ 1,342.9 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Akzo Nobel N.V., Ashland Inc., CP Kelco, Daicel Corporation, The Dow Chemical Company, Lamberti S.p.A., Penn Carbose Inc., Sichem LLC, SINCOCMC Co. Ltd, Yixing Tongda Chemical Co. Ltd, and Nouryon |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Opportunities
Increasing iron ore and taconite mining is expected to provide potential opportunities for carboxymethyl cellulose. It is widely used across mining flotation applications for separating the impurities and metals. Basically, it is used as a modifier in the mining floatation process. Moreover, it is also used in nickel ore as it easily gets absorbed by minerals surfaces. Thus, growing demand across mining application is projected to foster the market growth of carboxymethyl cellulose.
The growing application of carboxymethyl cellulose from paper processing industry is expected to bring new market opportunities. It is used as a stabilizer, binder, thickener, and dispersant in the production of paper. Growing demand for paper from various applications is boosting production of paper which in turn augmenting demand for carboxymethyl cellulose from paper processing industry. This is expected to bolster the market growth over the forecast period.
Figure 2. Global Carboxymethyl cellulose Market– Opportunity Analysis
Market Trends/Key Takeaways
Increasing strategic alliance such as merger and acquisition among key manufacturer for business expansion on global as well as the regional level is a growing trend. For instance, in January 2020, Nouryon has signed an agreement to acquire JM Huber’s carboxymethyl cellulose (CMC) business. This acquisition add production capabilities of a complete line of CMC grades to Nouryon’s carboxymethyl cellulose product portfolio.
The increasing use of carboxymethyl cellulose in alcoholic drinks such as wine and beer is one of the current trends in the market. Growing consumption of the alcohol due to rising westernization around the globe is driving demand for carboxymethyl cellulose in such drinks. Growing consumption of the dairy and meat products where CMC is used as an emulsifying agent is further expected to foster the market growth over the forecast period.
Figure 3. Global Carboxymethyl cellulose Market Share (%) in terms of Value, By End-User, in 2019
On the basis of end-user in 2019, the food and beverage segment has accounted the largest market share of 33% in terms of value, followed by oil drilling fluids and paper processing segment respectively.
Global Carboxymethyl Cellulose Market - Impact of Coronavirus (Covid-19) Pandemic
The carboxymethyl cellulose market is expected to grow at a significant rate during the forecast period as the demand for hygiene product industry is rising at a great extent. Due to rising consciousness among consumers regarding cleanliness and protection against the contagious disease. The government across various nations is also launching a number of initiatives to maintain hygiene thereby, increasing the demand for carboxymethyl cellulose market in the near future.
Competitive Section:
Company Names
Few Recent Developments
In September 2018, the CMC business unit of CP Kelco announced that it is increasing the pricing of its entire CMC product portfolio up to 10% globally, effective October 17, 2018, as contracts allow.
Carboxymethyl cellulose is cellulose gum which is extracted from wood pulp and pure cotton. Cellulose gum is widely used across various industries including oil & gas, agriculture, cosmetics & personal care, paint, paper processing, pharmaceutical, food & beverages, and household care industries.
Market Dynamics
Growing awareness regarding painting houses is encouraging consumers to spend on renovation of the house is one of the ongoing trend. This is creating demand for high performance paints and coatings. Carboxymethyl cellulose is widely used as a stabilizer and thicker in the paints. The growth of carboxymethyl cellulose is also attributed to the rapidly growing oil drilling fluids industry due to increasing urbanization and industrialization around the globe. Thus, the growing demand for paints from the oil drilling fluids industry is propelling the market growth of carboxymethyl cellulose over the forecast period.
Growing demand for functional ingredients in the food that helps in making food gluten-free and low-fat content is expected to drive the market growth of carboxymethyl cellulose. It helps in thickening and stabilizing the food and also replaces food by increasing fiber content in food. Moreover, growing demand for frozen desserts that are low in fat content and gluten-free is again expected to propel the market growth. CMC helps in preventing melting of ice creams and yogurts and maintain the texture of desserts.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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