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The Global Carboxymethyl Cellulose (CMC) Market size is estimated to grow by USD 509.15 million and the size of the market is forecast to increase at a CAGR of 5.62% between 2022 and 2027. The growth of the market depends on several factors, including the health-related benefits of linen products, the rapid growth in online retail sales, and new product launches.
This market research report extensively covers market segmentation by application (food & beverages, pharmaceutical, and cosmetics, oil, and gas, paper, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
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The new product launches in the carboxymethyl cellulose market will notably drive market growth. To widen their product portfolio and expand their customer base, several local and global vendors operating in the global carboxymethyl cellulose market are developing a wide range of high-quality products. Owing to the superior quality of these products, their demand is increasing across the world. This factor will, therefore, help drive the market's growth over the coming years.
Some of the prominent product launches by various local and global vendors have been listed below:
Therefore, a wide range of superior-quality products is regularly launched by various vendors operating in the global carboxymethyl cellulose market, which will drive the growth of the CMC market during the forecast period.
The growth in the construction industry is a major trend that will primarily drive the CMC market growth. The growth in the global construction industry is expected to fuel the demand for carboxymethyl cellulose products worldwide. The major reasons behind the increasing constructions are the good economic situation prevailing across regions along with the increased emphasis on investments made by government authorities in developing infrastructure. In addition to this, immigration and growing urbanization have led to an expansion in residential constructions across developed regions such as Europe and North America. For example, in 2020, the major countries contributing to the growth of the construction industry in Europe were Hungary, Poland, Ireland, and Portugal. Thus, the growth of the construction industry is expected to have a strong positive impact on the global carboxymethyl cellulose market during the forecast period.
The stringent regulations in the textile industry are expected to impede the carboxymethyl cellulose market. The textile industry is subjected to several regulations, policies, and safety standards for consumer products, which aim to ensure consumer safety and well-being. The imposition of such stringent regulations by government authorities and the mandate to comply with them are serious challenges to the growth of the overall textile industry, including the carboxymethyl cellulose segment. Several textiles and clothing regulations are imposed by various regulatory bodies operating in different regions. For example, the EU has imposed the Textile Regulation (EU) No 1007/2011 on fiber names (including linen products) and related labeling and marking of the fiber composition of textile products, which is in alignment with all the member countries. This is a major concern that will slow down the CMC market growth.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Carboxymethyl Cellulose Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allwyn - The company offers carboxymethyl cellulose products such as in powder format. Also, the company provides a wide variety of starch products, which include Oil Well Drilling Starch, Oxidized Starch, Thin Boiling Starch, Cationic Starch, White Dextrin Powder, Yellow Dextrin Powder, Corrugation Gum, Pasting Gum, Paper Cone Gum, Paper Tube Gum, Starch Binder/Briquette Binder, Pellet Binder, Fish Feed Binder, Textile Printing Gum, Yarn Sizing Gum, Incense/Agarbatti Binder, among others.
The carboxymethyl cellulose (CMC) market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the food and beverages segment will be significant during the forecast period. The food and beverages segment showed a gradual increase in market share with USD 457.70 million in 2017 and continued to grow by 2023. Carboxymethyl cellulose is used in food and beverages as a food additive for various food products. It is used as a stabilizing, suspension, and thickening agent in food and beverage products as it can control the rheological property, structure, flavour, and appearance of products and their pseudoplastic properties. Carboxymethyl cellulose can be used to prevent the protein in yoghurt from condensation, as well as sedimentation and layering. Moreover, owing to its good homogeneity, carboxymethyl cellulose offers excellent stability in acid beverages.
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Carboxymethyl cellulose is also used in manufacturing fruit squashes. In fruit squashes, the proportion of solids is larger than that of liquids, so the solids in fruit squashes generally tend to settle at the bottom of the container as sediment. When carboxymethyl cellulose is added to fruit squash, it enables the flesh and fruit suspended in the packaging container to be well-distributed, full, bright, and striking in colour. Moreover, carboxymethyl cellulose helps in extending the storage life of fruit squashes. Carboxymethyl cellulose is also used as a non-caloric thickening agent and binder in ready-to-eat food products. It reduces the formation of ice crystals in frozen food. Overall, all these factors will lead to the CMC market growth.
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In APAC, the increasing demand for food and beverages in the region will boost the carboxymethyl cellulose market during the forecast period. The food and beverage market in APAC is expected to witness accelerating growth momentum during the forecast period. The growing consumption of packaged food products further increases the demand for carboxymethyl cellulose in the region. China accounted to be the highest market for the consumption of carboxymethyl cellulose in APAC due to the increasing demand for carboxymethyl cellulose in applications such as food processing, pharmaceuticals, and cosmetics. China will continue to lead the market during the forecast period. In addition, many countries in the region are focusing on developing their national oil and gas industry. Such factors influence the demand for carboxymethyl cellulose in the region during the forecast period.
The recovery of the carboxymethyl cellulose market is driven by the reopening of end-user industries and the strategies adopted by end-user industries for the recovery from the COVID-19 crisis. Some of the oil refineries are focusing on expanding their refinery capacity. For instance, in September 2020, IOC announced an investment to raise the capacity of its Gujarat refinery and set up a petrochemical plant in India. Such expansions by end-users are one of the factors that will influence the demand for carboxymethyl cellulose in APAC during the forecast period.
The carboxymethyl cellulose (CMC) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Carboxymethyl Cellulose Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.62% |
Market growth 2023-2027 |
USD 509.15 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.97 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allwyn Chem Industries, Amar Cellulose Industries, Ashland Global Holdings Inc., Barzaghi Srl Unipersonale, Cellulose Solutions Pvt Ltd., CMC SA, Daicel Miraizu Ltd., DKS Co. Ltd., Foodchem International Corp., Hefei TNJ Chemical Industry Co. Ltd., Jining Fortune Biotech Co. Ltd., Lamberti SpA, Nilkanth Organics, Nippon Paper Industries Co. Ltd., Nouryon Chemicals Holding BV, Patel Industries, Quimica Amtex SA De CV, Univar Solutions Inc., and USK Kimya Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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