Rising demand of carboxymethyl cellulose from stabilizing agent for food manufacturing, detergent manufacturing, and personal care products is expected to drive the market
Category: Chemicals & Materials Published Date : May 2022 ID: CVC-00110-CH Format: PDF Pages: 328
Global Carboxymethyl Cellulose Market Size Analysis
According to a research analysis conducted by ChemView Consulting, in 2022, the Global Carboxymethyl Cellulose Market was worth US$ 1,684.2 Mn, and it is expected to grow at a CAGR of 4.4% over the forecast period. The market is expected to hit US$ 2,376.8 Mn by 2030 end.
Why does the Cosmetics & Personal Care segment hold the highest market share in the Carboxymethyl Cellulose Market?
In the carboxymethyl cellulose industry, personal care items and cosmetics offer producers value-grab possibilities. The segment is projected to grow at a CAGR of 5.3% between 2022-3030.
CMC is becoming more popular because of hair care products, hair grooming aids, and shampoos. The need for carboxymethyl cellulose is fueled by cosmetic moisturizing skin care products, creams, and lotions. Cold creams, hand skin care preparations, and cosmetics foundations are among the products that manufacturers are ramping up production. Eyeshadow blushers and eyeliners spark the demand for CMC.
For producers in the carboxymethyl cellulose sector, toothpaste formulas provide dependable revenue streams. The need for carboxymethyl cellulose is being fueled by regular white, clear translucent gels and tartar control toothpaste. This helps to explain why the industry is expected to reach US$ 1.75 billion by 2030.
Which application type is expected to dominate the Carboxymethyl Cellulose Market?
The application category’s food and beverage segment are estimated to hold a market size of US$ 575.9 Mn in 2021. This segment is expected to grow at a stellar 5.4% value CAGR during the forecast period. In terms of volume, the food and beverage segment leads the pack, with a high number of units produced each year.
Demand for packaged foods, instant noodles, ready-to-cook, and gluten-free foods is expected to rise. Furthermore, the rising demand for detergents due to the exceptional properties of sodium carboxymethyl cellulose will drive market growth. Another growing segment is using CMC in oil drilling activities as a thickening agent for water retention in drilling mud.
Why does Asia-Pacific account for the largest market share in the Carboxymethyl Cellulose Market?
In 2021, the Asia Pacific market was worth US$ 692.5 Mn. The growing demand for convenience, secondary and tertiary processed foods ascribed to the population in nations like China, India, Malaysia, Indonesia, Bangladesh, and others is likely to propel regional growth.
Growing demand for personal care products in emerging economies due to rising disposable income and changing lifestyles, particularly in India, China, Malaysia, and Indonesia, is expected to drive industry growth by the end of 2030.
How is North America Faring in the Carboxymethyl Cellulose Market?
North America is one of the largest oil drilling regions. The presence of a large manufacturing base for oil drilling fluids attributed to huge oil reserves is expected to boost the demand for carboxymethyl cellulose, an important thickening additive used on oilfield chemicals. Furthermore, increasing awareness among consumers regarding the health benefits of gluten-free products is fostering the demand for food-grade CMC.
Also, commercial buyers in developed economies prefer equipment with advanced diagnosis and automation. Manufacturers have significantly improved their response time to such client custom requirements through research, development, and product innovation in carboxymethyl cellulose products and goods.
Because of numerous domestic and regional players, the global carboxymethyl cellulose market is highly fragmented and competitive.
To remain competitive in the industry, key market players are investing in expanding their market footprint. Several vital players invest a fair share of their revenue in research and development to boost their product portfolio. Market participants focus on technological development and utilizing a product in several applications.
Some Key Developments:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Purity Level:
By Region and Country:
Global Carboxymethyl Cellulose Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||Purity, Application, Property, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|