Carboxymethyl Cellulose Market Overview:
Carboxymethyl cellulose (CMC) is widely used in a variety of applications such as food & beverage, paper processing, and cosmetics and personal care. The food & beverage industry is a major consumer of CMC, which is used as a viscosity modifier, thickener, and emulsifier, and in fat-free food products. CMC is also a major constituent of non-consumable food items such as toothpaste, diet pills, and laxatives. In addition, water based paints, reusable heat packs, detergents and paper processing require a large amount of CMC.
Carboxymethyl Cellulose Market Size:
Carboxymethyl Cellulose Market was valued at USD 1411 million in 2017 and poised to touch USD 1752 million by 2022 growing at a CAGR of 4.63% during the forecast period 2017 to 2022.
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Carboxymethyl Cellulose Market Drivers and restraints:
The global market for carboxymethyl cellulose is expected to grow at a substantial pace due to growing demand from the main end-use sectors, such as food and beverages, paper and cellulose, personal care and cosmetics. The world population is growing at a considerably higher rate, which requires more food processing, conservation and nutritional value. In developed countries, the consumption of processed foods is much higher than that of developing economies. This trend is changing as governments in emerging economies increasingly focus on food security and processing to feed the large population. This will probably fuel CMC’s demand in the coming years. In addition, global energy demand is reaching new heights and renewable energy sources are not meeting this demand, which will probably result in an increase in oil drilling activity. This should feed the demand for products during the evaluation period. Moreover, changing lifestyles, increasing disposable income, shifting consumer preferences, and rising consumption of processed food are some of the additional factors favoring the growth of the market.
Carboxymethyl Cellulose Market Geographical segmentation:
Based on geography, the Asia-Pacific region accounted for almost 35% of the world market. The growing sustenance food and beverage industry in Asia Pacific is the main growth factor for carboxymethyl cellulose in the region. The increase in oil exploration in the region will also boost demand for CMC. The food and beverage industry, expanding in the Asia-Pacific region, is increasing opportunities for the global market. In addition, the growing demand from the food and beverage sector will feed the demand of the CMC market in the Middle East and Latin America in the near future.
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Key Players of Carboxymethyl Cellulose Market:
The main players in the global carboxymethyl cellulose market are Lamberti S.p.A, SINOCMC Co., Ltd., Dow Chemical Company, CP Kelco, Akzo Nobel N.V. and Ashland Inc.
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