Press release
Carboxymethyl Cellulose Market to gain significant revenue by 2024
Carboxymethyl Cellulose (CMC) Market
Robust demand from oil & gas applications is anticipated to drive carboxymethyl cellulose market forecast over the projected period. In recent years, water-based drilling fluids such as CMC have gained significant traction as an environmentally sustainable substitute over conventional oil-based fluids. This trend will undeniably fuel the demand for the product in the near future.
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Carboxymethyl cellulose or cellulose gum is prominently used for thickening, binding, soil anti-redisposition, water retention, and as a protective colloid across a wide range of industries including oil & gas, food & beverage, pharmaceuticals, personal care, construction, detergents & laundry, textile, pulp & paper, and many others. It is estimated that global carboxymethyl cellulose market size will be in excess of USD 1.7 billion by 2024.
o Global growth drivers are
1. High demand for low fat foods and gluten-free frozen desserts
2. Increasing number of oil drilling activities
o Regional growth drivers are
1. Positive outlook from the pharmaceutical and cosmetics sectors in Asia Pacific
Obesity, which was once considered a major problem only in high-income countries, has been increasingly prevalent in middle-income and low-income countries, and largely across urban regions. Statistical records suggest that the number of overweight children below the age of 5 in Africa have increased by around 50% since 2000.
Consequently, more and more consumers are opting for low-fat and low-calorie foods. This is expected to propel the demand for various food additives, including cellulose gum, which is widely used to lessen the fat content of foods items. Rising occurrence of obesity and the subsequent shift in lifestyle choices will present lucrative growth opportunities for CMC manufacturers.
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Unhealthy snacking habits and increased consumption of ready meals, junk foods and sugary beverages along with a sedentary lifestyle has increased occurrence of obesity in North America. These habits have significantly increased the risk of chronic diseases such as hypertension, type-2 diabetes, coronary heart diseases and cardiovascular disorders as well.
North America carboxymethyl cellulose market will record a healthy 4% CAGR during over 2016-2024. This can majorly be attributed to strong demand for cellulose gum from the region's food & beverage sector which prominently uses the product as a food stabilizer and fat replacer.
Availability of various product substitutes, including cellulose ethers and hydrocolloids such as ethyl cellulose, pectin, guar gum, xanthum gum, and others which possess similar characteristics might hamper industry growth up to a certain extent. However, R&D activities and the adoption of different business strategies from industry participants primarily to gain a competitive edge will propel carboxymethyl cellulose market outlook.
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Leading market players
The key market players analyzed in the global carboxymethyl cellulose market report include Akzo Nobel N.V., J.M. Huber Corporation, Ashland, The Dow Chemical Company, Nippon Paper Industries, USK Kimya A.S., Daicel Corporation, Lamberti S.P.A., Chongqing Qiaofeng Industrial (Group) Co. Ltd., DKS Co. Ltd., Patel Industries, Triveni Chemicals, QINGDAO SINOCMC CHEMICAL Co. Ltd., Qingdao Tianya Chemical Co Ltd
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Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Research and Development News --
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Latest Update "Global Carboxymethylcellulose (CMC) Market Insights,Forecast to 2025" with Industries Survey | Global Current Growth and Future.
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