Global Carboxymethyl Cellulose Market to Reach US$1,039.8 mn by 2019, Demand from Food and Beverage Industry to Drive Growth
A report published by Transparency Market Research (TMR) has pegged the global carboxymethyl cellulose market to report a steady CAGR of 3.2% between 2013 and 2019. The report is titled “Carboxymethyl Cellulose Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.” According to the report, the global carboxymethyl cellulose market stood at a valuation of US$834.0 mn in 2012. By 2019, the market is expected to reach US$1,039.8 mn.
Carboxymethyl cellulose (CMC) is a highly effective additive used for improving products and their processing characteristics across various domains such as pharmaceutical, food and beverages, and other industries. It is synthesized using the alkali-catalyzed reaction. CMC is mainly used as sodium salt (NaCMC) in the market.
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Based on composition CMC can be broadly classified into two grades: Purified and technical. The technical grade CMC is mainly used in detergents while the purified grade finds application in food, pharmaceuticals, and personal care products. CMC is functionally used as a thickening agent, rheology modifier, stabilizer, and suspending agent. Major end-use industries of carboxymethyl cellulose are oil drilling fluids, food and beverages, personal care, detergents, paints and adhesives, mining, and textiles.
The global CMC market will primarily gain from the surging demand witnessed in the food and beverages sector. The rising exploration activities around the world have fuelled the demand for carboxymethyl cellulose as well. CMC is used in diverse applications such as a stabilizer, water binder, rheology controller, and thickener in the food and beverage industry. Besides this, CMC is used as rheology controller and viscosifier for oil drilling fluids. These increasing applications of the chemical across industries will translate into positives sales for the global carboxymethyl cellulose market. Additionally, the increasing application of CMC in the manufacture of personal care products and the rising iron ore and mining activities will provide attractive opportunities for vendors in the carboxymethyl cellulose market.
By end user, the global carboxymethyl cellulose market was led by the food and beverages industry with a share of 22.3% in 2012. The personal care segment is also expected to exhibit rising demand in the coming years, states the TMR report. The demand for CMC in paper processing and paints and adhesives industries will remain stable. However, the market is expected to witness lucrative prospects in the industrial detergents and mining industries in the near future.
Regionally, the global carboxymethyl cellulose market was dominated by Asia Pacific, with a share of 35% in 2012. The expansion of the food and beverages industry in the region has been fuelling the demand for CMC in Asia Pacific. Furthermore, the increasing oil exploration activities, coupled with the rising demand from the food and beverage sector, will spur the CMC market in Latin and the Middle East. North America held the third largest share in the global CMC market in the same year.
To study the competition prevailing in the market, the report has profiled a few of the most prominent enterprises operating therein. These include Ashland Inc., Akzo Nobel N.V., Lamberti S.p.A, SINOCMC Co., Ltd., and Dow Chemical Company.
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