Carboxymethyl Cellulose Market Overview
The Carboxymethyl Cellulose Market Size is expected to grow by $ 463.11 mn during the estimated time frame of 2020 to 2030. It is progressing at a CAGR of 6% during the forecast period.
Rising infusion of functional ingredients in various food products to render them low-fat and gluten-free has been quite favorable for the Carboxymethyl Cellulose Market Growth over the years. The product is used extensively in foods since it helps stabilize and thicken the texture and boost the fiber content. Besides, the surging consumption of frozen desserts that are gluten free and have low fat content should also catapult the market position in the following years. CMC is also added to ice creams, yoghurts, and various desserts to prevent melting while maintaining their texture.
Growth opportunities will emerge in the global market in the form of rising iron ore as well as taconite mining, which will in turn foster the need for carboxymethyl cellulose. It has major mining flotation applications and is used to separate metals and impurities. Basically, carboxymethyl cellulose acts as a modifier during the mining floatation procedure. Thus, the expanding mining applications worldwide is projected to enhance the market size for carboxymethyl cellulose in subsequent years.
The increased need for natural stabilizers in the pharmaceutical sector to manufacture a variety of drugs should propel the demand for carboxymethyl cellulose in the coming years. The expansion of the elderly population with a number of health issues has pushed healthcare needs, ultimately benefitting the carboxymethyl cellulose market Vendor Strategies. As a consequence, soaring need for natural stabilizers during drug manufacturing will open up lucrative avenues for the global market in the years to come.
Segmental Analysis
The global market for carboxymethyl cellulose has been considered for application in the MRFR report.
Paints & coatings, pharmaceuticals, oil & gas, paper processing, detergents, cosmetics & personal care, agriculture, food & beverage, and others are the major applications of carboxymethyl cellulose.
Regional Outlook
APAC or Asia Pacific, Europe, North America, MEA or Middle East & Africa are the key markets for carboxymethyl cellulose.
The European market is on track to achieve the second spot in the years ahead, by virtue of the expanding application scope of carboxymethyl cellulose in the paper processing sector. In the paper industry, it is increasingly being use as a binder, stabilizer, dispersant, and thickener for producing paper. Moreover, substantial consumption of various alcoholic beverages such as beer and wine should further bolster water-soluble polymers’ demand in the food industry. The region is known for its thriving personal care industry in line with high disposable income and sophisticated lifestyles led by consumers, especially in Spain, France, and Germany. This aspect is touted to work in favor of the European market in the next couple of years. However, Germany has managed to secure the lead in the regional market as the country is one of the biggest manufacturers of baked goods, confectionaries, and dairy products in the world. As a result, the demand for carboxymethyl cellulose will remain robust in the country even in the years ahead.
Asia Pacific is not only the highest gainer but the fastest progressing market for carboxymethyl cellulose, largely on account of the improving economic status and rising disposable income of consumers in the region. Significant consumption rate of low-fat and processed food products in the region also adds to the value of the carboxymethyl cellulose industry. The thriving pharmaceutical sector and the presence of agrarian countries like Thailand, India and Malaysia, have raised the product demand over the years. Besides, the expanding geriatric populations and the mounting cases of different health conditions has fostered the need for carboxymethyl cellulose in the healthcare industry. The chemical is extensively used as a natural stabilizer during drug manufacturing and is therefore, witnessing growth in the pharmaceutical industry across India, Japan, and others.
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Affluent Companies
Some of the most notable firms in the global market for carboxymethyl cellulose include Lamberti SpA (Italy), Ashland (US), Qingdao Sinocmc Chemical Co., Ltd (China), (Japan), CP Kelco US, Inc. (US), Akzo Nobel NV (Netherlands), USK KIMYA CORP (Turkey), Nippon Paper Industries Co., Ltd DAICEL FINECHEM LTD (Japan), Amtex (Peru), Dow (US), to name a few.
Acquisitions, partnerships and mergers along with new product launches and agreements are the key strategies generally employed by the leading manufacturers
To cite a reference, in May 2021, Allergan launched Refresh Digital lubricant eye drops, which help relieve symptoms related to eye dryness as well as irritation that take place due to extended spans of screen time. Some of the primary active ingredients are carboxymethylcellulose sodium along with polysorbate 80 and glycerine. The carboxymethylcellulose sodium content in the eye drop acts as a lubricant for eyes, reducing discomfort and irritation.
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