Carboxymethyl cellulose also known as cellulose gum or tylose powder. It is chemically stable, odorless, physiologically inert, and tasteless substance. It is non-toxic in nature, hypoallergenic, and exhibit high viscosity. Caustic soda, monochloroacetic acid, and plant-derived cellulose are some of the major raw materials used in the manufacturing of carboxymethyl cellulose.
The global carboxymethyl cellulose market is estimated to account for US$ 1,039.8 Mn in terms of value and 432.1 Kilo Tons in terms of volume by the end of 2019.
Rising demand from oil drilling activities is expected to foster the market growth of carboxymethyl cellulose. Growing demand for crude oil and natural gas around the globe are expected to fuel the demand for oil drilling activities which in turn creating huge demand for carboxymethyl cellulose. Carboxymethyl cellulose is used as a viscosifier in drilling muds, digging, and other activities associated with the oil and gas industry. Thus, growing demand for carboxymethyl cellulose from oil drilling activities is projected to augment market growth over the foreseeable period.
Growing demand for carboxymethyl cellulose from personal care and cosmetic industry is expected to serve major market opportunities in the near future. CMC is used as a binder, thickener and stabilizer in the personal care industry is expected to foster the market growth of the carboxymethyl cellulose. It is widely used across sanitary napkins, wet tissues, and diapers as a binder with higher water absorption. Thus, the growing demand for carboxymethyl cellulose from the personal care industry is expected to augment the market growth in the near future.
Strict regulations associated with the use of carboxymethyl cellulose across food &beverage industry is expected to restrict the market growth of carboxymethyl cellulose over the forecast period. According to the standard set by FDA, manufacturers are required to follow certain rules in order to meet stipulations of regulatory bodies.
Food & Beverage segment dominated the global carboxymethyl cellulose market in 2019, accounting for 33% share in terms of value, followed by oil drilling fluids and personal care, respectively
Increasing investment by manufacturers on enhancing the production capacity of carboxymethyl cellulose is a growing trend in the market. For instance, in March 2019, Nippon Paper Industries Co. announced the construction of a new facility for the functional cellulose product carboxymethyl cellulose at the Gotsu Mill in Gotsu City, Shimane Prefecture of Japan. The company will invest approximately JPY 4.7 billion into this facility.
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 construction industry due to increasing urbanization and industrialization around the globe. Thus, the growing demand for paints from the construction industry is propelling the market growth of carboxymethyl cellulose over the forecast period.
Carboxymethyl Cellulose Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has changed the consumer buying pattern and have made consumer conservative, leading to decline in their spending for non-essentials products. On the other hand, the demand for homecare products and personal hygiene is expected to rise in the forecast period owing to growing awareness among consumers to minimize the chances of infection during the pandemic situation.
Few Recent Developments
In January 2020, Nouryon has signed an agreement to acquire JM Huber’s carboxymethyl cellulose (CMC) business. This acquisition will add production capabilities of a complete line of CMC grades to Nouryon’s carboxymethyl cellulose product portfolio.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.