Pune, India, May 16, 2023 (GLOBE NEWSWIRE) -- The global carboxymethyl cellulose market size is expected to grow from USD 1.67 billion in 2021 to USD 2.23 billion by 2028, exhibiting a CAGR of 4.2% during the forecast period. The growing demand for cellulose in food applications like thickeners, suspension agents, and bulking agents can have a tremendous impact on the market growth, states Fortune Business Insights™ in its report titled “Carboxymethyl Cellulose (CMC) Market, 2021-2028.” The market size stood at USD 1.60 billion in 2020.
Carboxymethyl cellulose (CMC) is a water-soluble polymer derived from cellulose, a natural polymer found in plant cell walls. CMC has a wide range of applications in various industries, including food and beverages, pharmaceuticals, personal care products, paper and pulp, and oil and gas. The growing demand for eco-friendly and sustainable paper products is expected to drive the growth of the CMC market in the paper and pulp industry.
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The Report Lists the Key Players in the Carboxymethyl Cellulose Market:
- CP Kelco U.S., Inc (California, U.S.)
- Nippon Paper Industries Co. Ltd (Tokyo, Japan)
- Ashland Inc. (Delaware, U.S.)
- Dow Chemical Company (Michigan, U.S.)
- Lamberti S.P.A (Gallarate, Italy)
- DKS Co. Ltd (Kyoto, Japan)
- Química Amtex S.A. (Medellin, Colombia)
- Nouryon (Amsterdam, Netherlands)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 4.2% |
| 2028 Value Projection | USD 2.3 Billion |
| Market Size in 2020 | USD 1.60 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 140 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Carboxymethyl Cellulose Market Growth Drivers | Increasing Demand for Gluten-free Food products to Foster Market Development |
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Market Segments:
Based on application, the market is classified into food & beverages, oilfield, paper & pulp, detergents, coatings, and others. The food and beverage segment is expected to dominate the global market due to the high demand for packaged food products, instant noodles, and ready-to-cook and gluten-free products.
Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the carboxymethyl cellulose market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain the market stronghold between 2021 and 2028.
COVID-19 Impact:
The COVID-19 epidemic severely harmed the worldwide economy. The food distribution system is regarded as one of the most important sectors of the economy, and the outbreak has been found to influence the entire operation from field to consumer. The food industry's production, distribution, and supply activities were significantly affected, which is currently a major cause for concern. Employee restrictions, federal regulations, food trade barriers, changes in consumer desire, and financial strain due to an unexpected halt in production and distribution operations affected the market. Despite the unprecedented demand for food during the epidemic, food chain participants such as farmers, suppliers, distributors, and retailers continue to struggle amid the global pandemic.
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Driving Factor:
The global carboxymethyl cellulose (CMC) market is driven by several factors, including:
1. Increasing demand from end-use industries: CMC is widely used in various industries, including food and beverages, pharmaceuticals, personal care products, paper and pulp, and oil and gas. The growing demand from these end-use industries is expected to drive the growth of the CMC market.
2. Functional properties of CMC: CMC is a versatile and multifunctional polymer that offers several benefits, including thickening, stabilizing, binding, and emulsifying properties. These properties make it a popular choice for use in various products and applications.
3. Growing demand for eco-friendly and sustainable products: CMC is a natural polymer derived from cellulose, a renewable and biodegradable resource. The increasing focus on eco-friendly and sustainable products is expected to drive the demand for CMC in various industries.
4. Growing demand for convenience food: The demand for convenience food and ready-to-eat meals is increasing globally. CMC is widely used as a thickener and stabilizer in these products, and the growing demand for convenience food is expected to drive the growth of the CMC market.
5. Growing demand for generic drugs: The pharmaceutical industry is a significant consumer of CMC, where it is used as a binder, disintegrant, and viscosity modifier in tablet formulations. The growing demand for generic drugs is expected to drive the demand for CMC in the pharmaceutical industry.
6. Technological advancements: Technological advancements in CMC production and processing are expected to reduce production costs and increase the efficiency of the manufacturing process, which is expected to further drive the growth of the CMC market.
Regional Insights:
Rising Demand for Convenience Foods to Bolster Growth in North America
In 2020, the Asia Pacific market was worth USD 0.69 billion. Asia Pacific now dominates the carboxymethyl cellulose market share and is expected to do so through the end of the forecast period. The population in nations such as China, India, Malaysia, Indonesia, Bangladesh, and others is predicted to boost demand for convenience food goods, secondary and tertiary processed food goods, fueling the market's growth.
The carboxymethyl cellulose (CMC) industry is a global market with significant demand from various regions. Here is a regional analysis of the CMC industry:
North America: North America is a significant consumer of CMC, driven by the growing demand from various end-use industries, including food and beverages, pharmaceuticals, and oil and gas. The United States is the largest market for CMC in North America, accounting for a significant share of the regional market.
Europe: Europe is another significant market for CMC, driven by the growing demand for eco-friendly and sustainable products and the increasing demand from the food and beverage and pharmaceutical industries. The United Kingdom, Germany, and France are the major markets for CMC in Europe. North America is one of the most important oil-drilling regions in the world. Due to the abundance of oil reserves, the development of a substantial production base for oil drilling fluids is likely to increase demand for the product, a key thickening agent used in oilfield chemicals.
Overall, the global CMC market is expected to witness steady growth in the coming years, driven by the increasing demand from various end-use industries and the growing focus on eco-friendly and sustainable products.
Competitive Landscape:
Dow Chemical Company to Hold a Significant Share
The global carboxymethyl cellulose market is highly consolidated in essence, with a few worldwide companies acquiring a major share. Some of the market's major companies are DKS Co, Ltd., Nouryon, The Dow Chemical Company, Nippon Paper Industries Co. Ltd, and Ashland Inc.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Carboxymethyl Cellulose (CMC) Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
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Key Development:
- August 2020: Nouryon announced its plans to expand the production of Monochloroacetic acid as a response to the increasing demand for MCA in carboxymethyl cellulose production.
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