The global carboxymethyl cellulose market is currently expected to be around US$ 1835.10 million in 2022 and is expected to progress at a constant CAGR of 4.8% between 2022 and 2032 to reach a valuation of USD to be reached 2,932.7 million by 2032.
Increasing demand for carboxymethyl cellulose from the food, paint, coating, paper and pulp, construction and textile industries is a factor , driving the growth of the market.
A new research publication titled “Carboxymethyl Cellulose Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2022-2032)” by Future Market Insights focusses on various market developments, trends, growth drivers and forecasts across important regions. A detailed market segmentation is carried out that explores every angle of the carboxymethyl cellulose (CMC) market.
Several factors have contributed to the growth of the global carboxymethyl cellulose market. Increase in the upstream exploration for unconventional sources of energy, growth in end use industries to fuel demand, new product development, economic growth, high industrial growth and merger activities in the petrochemical sector.
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Rising adoption of carboxymethyl cellulose in different applications, rising demand for carboxymethyl cellulose in the personal care and food and beverages industry, increasing focus towards reduction in production costs, technologically advanced manufacturing infrastructure.
Superior properties of carboxymethyl cellulose based products, growing pharmaceutical and personal care industries and growth in oil drilling operations are expected to drive the growth of the global carboxymethyl cellulose market during the assessment period.
However, high prices of cosmetic products, slump in the oil and gas industry, increasing competition among local manufacturers, and stringent environmental regulations are expected to hamper market revenue growth during the forecast period.
Global Market for Carboxymethyl Cellulose (CMC): Segmental Snapshot
The global carboxymethyl cellulose market is segmented on the basis of grade type, application and region.
- By grade type, high purity segment is estimated to be the largest with a high market share. This is a highly potential segment from both revenue and growth perspectives. It is projected to grow at a CAGR of 5.5% during the forecast period.
- By application, food and beverages segment followed by detergent segment are expected to highly contribute to the growth of the global market. The food and beverages segment is projected to grow at the fastest pace in the coming years.
- By region, the carboxymethyl cellulose market in Asia Pacific excluding Japan (APEJ) is estimated to grow at a high CAGR to reach a significant valuation during the assessment period.
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Global Market for Carboxymethyl Cellulose (CMC): Competitive Landscape
The research report on the carboxymethyl cellulose market includes competition analysis. Several aspects such as SWOT analysis, product portfolio analysis, mergers and acquisitions, growth strategies, key developments, key personnel, company overview, key financials and expansion plans of the top companies are covered in this chapter.
Major companies such as CP Kelco, The Dow Chemical Company, Ashland Global Holding Inc., Anqiu Eagle Cellulose Co., Ltd., Wealthy Chemical Industry (Suzhou) Co., Ltd., Shanghai Shenguang Edible Chemicals Co., Ltd., Akzo Nobel N.V., Nippon Paper Industries Co., Ltd., Lamberti S.p.A, Xuzhou Liyuan cellulose Technology Co. Ltd., Daicel Finechem Ltd., Química Amtex, S.A. de C.V., DKS Co. Ltd., Ugur Seluloz Kimya AS, Mikro Technik GmbH and Patel Industries are featured in this research report.
A detailed market segmentation
By Application:
- Food and Beverage
- Detergent
- Paper and Pulp
- Oil Field Drilling Fluid
- Cosmetic and Pharmaceutical
- Paint and Coating
- Others (Construction, Mining, Textile etc.)
By Grade:
- High Purity Grade (99.5% +)
- Technical Grade (90%-99.5%)
- Industrial Grade (50%-90%)
Global Market for Carboxymethyl Cellulose (CMC): Forecast Highlights
The research report on the carboxymethyl cellulose market reflects future market projections describing the growth direction of the market. The global carboxymethyl cellulose market is projected to grow at a high CAGR of 4.8% throughout the period of assessment and is estimated to reach a valuation of more than US$ 2.9 Bn by the end of the year of assessment from a value of around US$ 1,835.10 Mn in 2022.
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Food and beverage segment to cement its dominance over the period of forecast
The food and beverage segment in the application category is anticipated to grow at a faster rate to reach a high market valuation of more than US$ 900 Mn by the end of the assessment year (2022) from a value of around US$ 480 Mn in 2022.
This segment is projected to grow at a stellar 6.1% value CAGR during the period of forecast. With respect to volume, the food and beverage segment is the leading segment with high number of units produced every year.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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