Carboxymethylcellulose Sodium Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global carboxymethylcellulose sodium market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Carboxymethylcellulose (CMC) sodium has the huge applications in food and beverage industry. The expansion of the processed food industry, increased pharmaceutical and cosmetics production, and increased oil drilling activities are the primary drivers of the CMC sodium market. Increasing population demand for convenience foods, secondary and tertiary processed foods, and other food products in countries such as China, India, Malaysia, Indonesia, Bangladesh, and others is expected to drive global market growth. Furthermore, a large crude oil manufacturing base is another factor driving CMC sodium market growth.

Due to high application of CMC sodium as inert non-pharmacologically active ingredient in detergent and paper & pulp making; paper industry and coating industry are some other potential areas of the CMC sodium. The Confederation of European Paper Industries estimates that Europe will produce 85.1 million tonnes of paper in 2020. Such huge production of paper will create high demand for CMC which in turn will drive the market growth.

Furthermore, the product will be in high demand among manufacturers in the coming years as an alternative to conventional additives in order to meet the growing consumer demand for gluten-free desserts. CMC sodium is a physiologically inert, chemically stable, odorless, and tasteless substance that is non-hazardous to human health and the environment. Other properties of CMC sodium include its high viscosity, non-toxicity, and hypoallergenic nature. Plant-derived cellulose, caustic soda, and monochloroacetic acid are the primary raw materials used in the production of CMC sodium.

Looking towards the potential application of CMC sodium in several industries key manufacturers of CMC are adopting several market growth strategies such as mergers & acquisitions, partnerships, geographical expansion, and production capacity expansion among other to meet the growing demand for CMC sodium from different industries. For instance, in January 2020, Nouryon is accelerating its growth plans with an agreement to acquire J.M. Huber Corporation's CMC business. The acquisition significantly expands Nouryon's product portfolio in CMC, a bio-based water-soluble polymer used as a thickener, binder, stabilizer, and film former. The companies' positions in CMC end markets, which include home and personal care, mining, food, pharmaceuticals, and paper and packaging, are largely complementary.

The emergence of substitutes in various applications is the major factor impeding the growth of the CMC market. Guar gum can be used in place of CMC in the vast majority of applications. Guar gum's organic/green label is an added benefit for the product's ability to replace CMC in a variety of applications.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- J.M. Huber Corp., Ashland Global Holdings Inc, QuimicaAmtex y Amtex Chemicals, LLC, Changzhou Science & Technology Co., LTD, DKS Co. Ltd, Carlyle Investment Management L.L.C., among others.

A full report Carboxymethylcellulose Sodium Market of is available at:  https://orionmarketreports.com/carboxymethylcellulose-sodium-market-2/92665/

Global Carboxymethylcellulose Sodium Market Report by Segment
By Application
•Food & Beverage
•Oilfield
•Paper & Pulp
•Detergents
•Coatings
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.