The global carboxymethyl cellulose market is projected to grow at a healthy growth rate with the increasing demand for gluten-free and low-fat frozen desserts. Carboxymethyl cellulose (CMC) helps in reducing fat content from food; it is also used extensively as a stabilizer, rheology controller, thickener, and water binder. Moreover, increasing use of CMC due to its superior performance and low cost in food and beverages industry is likely to boost the market growth in coming years.
CMC is used as a viscosifier and rheology controller in oil drilling fluids sector. Therefore, rising oil exploration across the globe will significantly increase the demand for carboxymethyl in forthcoming years. However, the demand for CMC is not just limited to the above-mentioned industries; its application is also growing in the personal care products sector and used in iron ore and mining activities. Therefore, with the increasing application, the demand for CMC is expected to rise significantly in the near future.
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The global carboxymethyl cellulose market is anticipated to exhibit positive CAGR of 3.2% during the forecast period 2013 to 2019. The market valuation was US$0.83 bn in 2012, which is predicted to reach US$ 1.03 bn by the end of 2019.
Growing Application of CMC in various Industries will Boost Market Demand
The global carboxymethyl cellulose market is categorized on the basis of end users, which is further divided into oil drilling fluids, food and beverages, personal care, paper processing, paints and adhesives, and others (including mining, industrial detergents, etc.). Out of these, food and beverages industry contributed an outstanding share of income in the global carboxymethyl cellulose market in 2012. The second position was held by oil drilling fluids that represent 22.3% of the aggregate demand in the global CMC market in 2012. Moreover, the demands for carboxymethyl cellulose is estimated to grow in the personal care segment due to its growing application in it. In forthcoming years, the mechanical cleansers and mining industry are expected to offer lucrative opportunities for the carboxymethyl cellulose. Growing contribution from the paints and glues industry is likely to boost the demand for the carboxymethyl cellulose during the forecast period. Therefore, with the increasing contribution in all the industries, the global carboxymethyl cellulose market is estimated to grow at a healthy rate during the forecast period.
Asia Pacific Emerges Dominant Owing to Expanding Food and Beverage Industry
On the basis of geography, Asia Pacific held 35% shares in the global market in 2012. The increasing sustenance and refreshments industry in Asia Pacific is the major factors for the growth of the carboxymethyl cellulose in the region. The rising oil exploration in the region will also boost the demand for CMC. The food and beverage industry is expanding in Asia Pacific, thus, increasing opportunities for the global carboxymethyl cellulose market. Moreover, growing demand from the food and beverage sector will fuel demand from the CMC market in the Middle East and Latin America in the near future.
In the competitive landscape section, various leading players in the market are analyzed. Some of the prominent players are 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.