Carboxymethyl Cellulose Market to Grow at 5.2% CAGR by 2027
Several factors have contributed to the growth of the global carboxymethyl cellulose market. Increase in the upstream exploration for unconventional sources of energy, growth in end use industries to fuel demand, new product development, economic growth, high industrial growth and merger activities in the petrochemical sector, rising adoption of carboxymethyl cellulose in different applications, rising demand for carboxymethyl cellulose in the personal care and food and beverages industry, increasing focus towards reduction in production costs, technologically advanced manufacturing infrastructure, superior properties of carboxymethyl cellulose based products, growing pharmaceutical and personal care industries and growth in oil drilling operations are expected to drive the growth of the global carboxymethyl cellulose market during the assessment period.
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However, high prices of cosmetic products, slump in the oil and gas industry, increasing competition among local manufacturers, and stringent environmental regulations are expected to hamper market revenue growth during the forecast period.
Global Market for Carboxymethyl Cellulose (CMC): Segmental Snapshot
The global carboxymethyl cellulose market is segmented on the basis of grade type, application and region.
- By grade type, high purity segment is estimated to be the largest with a high market share. This is a highly potential segment from both revenue and growth perspectives. It is projected to grow at a CAGR of 5.5% during the forecast period.
- By application, food and beverages segment followed by detergent segment are expected to highly contribute to the growth of the global market. The food and beverages segment is projected to grow at the fastest pace in the coming years.
- By region, the carboxymethyl cellulose market in Asia Pacific excluding Japan (APEJ) is estimated to grow at a high CAGR to reach a significant valuation during the assessment period.
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Global Market for Carboxymethyl Cellulose (CMC): Competitive Landscape
The research report on the carboxymethyl cellulose market includes competition analysis. Several aspects such as SWOT analysis, product portfolio analysis, mergers and acquisitions, growth strategies, key developments, key personnel, company overview, key financials and expansion plans of the top companies are covered in this chapter.
Major companies such as CP Kelco, The Dow Chemical Company, Ashland Global Holding Inc., Anqiu Eagle Cellulose Co., Ltd., Wealthy Chemical Industry (Suzhou) Co., Ltd., Shanghai Shenguang Edible Chemicals Co., Ltd., Akzo Nobel N.V., Nippon Paper Industries Co., Ltd., Lamberti S.p.A, Xuzhou Liyuan cellulose Technology Co. Ltd., Daicel Finechem Ltd., Química Amtex, S.A. de C.V., DKS Co. Ltd., Ugur Seluloz Kimya AS, Mikro Technik GmbH and Patel Industries are featured in this research report.
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Global Market for Carboxymethyl Cellulose (CMC): Forecast Highlights
The research report on the carboxymethyl cellulose market reflects future market projections describing the growth direction of the market. The global carboxymethyl cellulose market is projected to grow at a high CAGR of 5.2% throughout the period of assessment and is estimated to reach a valuation of more than US$ 2 Bn by the end of the year of assessment from a value of around US$ 1.4 Bn in 2017.
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