Guar Gum Market is Likely to Reach US$1,611.23 million by 2026

Market Overview:

According to Market Prognosis, the Global Guar Gum market is accounted for $761.30 million in 2017 and is expected to reach $1,611.23 million by 2026 growing at a CAGR of 8.6% during the forecast period. Factors such as rising demand for guar gum in the oil & gas industry, growing demand for dairy, convenience & frozen foods and developing applications of guar gum due to its multifunctional properties are propelling the market growth. However, lack of R&D activities in various countries and fluctuating costs of guar and its products are hampering the growth of the market. Expanded consumption of convenience food and fast growth in the global pharmaceutical industry provides ample opportunities for the market.

Guar gum is a unique agrochemical processed from endosperm of cluster bean. It is mainly used in the form of guar gum powder as an additive in food, pharmaceuticals, paper, textile, explosive and oil well drilling and cosmetics industry. Industrial applications of guar gum are likely because of its capability to form hydrogen bonding with water molecule. Accordingly, it is primarily used as thickener and stabilizer. It is also useful in the control of various health problems like diabetes, bowel movements, heart disease and colon cancer.

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By grade, industrial grade is attributed to its multi-functional properties and its huge operations in the oil & gas, mining & explosives, paper manufacturing, textile, tobacco, and photography with other industries. By application, In the Oil and Gas Industry, guar gum has been adopted for use by petrochemical companies for its thickening properties. These properties are used during drilling applications where huge viscosity water is required to extract oil and natural gas from shale rock formations.

In terms of geography, North America commanded the largest market share due to the prevailing oil & gas industry. Rising in non-conventional oil production such as shale oil and oil sand in the U.S. and Canada has improved its demand.

Some of the key players in global Guar Gum market include Ashland Global Specialty Chemicals Inc., Dabur India Limited, Global Gums And Chemicals Pvt Ltd, Ingredion Incorporated, Lucid Group, Rama Gum Industries India Limited, Shree Ram Industries, Vikas WSP Ltd., Altrafine Gums, Cargill, E. I. du Pont de Nemours and Company, Guangrao Liuhe Chemical Co., Ltd., India Glycols Limited, Jai Bharat Gum & Chemicals Ltd, Neelkanth Polymers, Ruchi Soya Industries Limited, Supreme Gums Private Limited and Hindustan Gums and Chemical Limited.

What our report offers:

- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Market Segments:
Functions Covered:
• Gelling
• Friction Reducing
• Thickener and Stabilizer
• Emulsifier
• Fracturing Agent
• Fat Replacer
• Preservation Agent
• Hydrocolloid
Grades Covered:
• Industrial-Grade
• Food-Grade
• Pharmaceutical-Grade
• Fast Hydrated Gum Oil Drilling Grade
• Other Grades
Applications Covered:
• Food & Beverages
• Oil & Gas
• Fracking
• Paper Manufacturing
• Defense
• Mining & Explosives
• Petroleum Industry
• Pharmaceuticals & Cosmetics
• Other Applications

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This release was published on openPR.