Global Carboxymethylcellulose (CMC) Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1.85 Billion by 2025 from $1.23 Billion in 2017, growing at a CAGR of 5.2% from 2017 to 2025. By Geography, Asia-Pacific and North America are expected to grow at a CAGR of 5.6% and 5.3%, respectively, during the forecast period.
"Carboxymethylcellulose (CMC) Market (By Application: Oil & Gas, Food & Beverages, Paper, Pharmaceutical & Cosmetics, Detergents, and Other Applications; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
The global Carboxymethylcellulose (CMC) Market is mainly driven by rising demand for processed food and growth of pharmaceutical and cosmetics production
Increasing number of oil drilling activities, growing demand for processed food and growth of pharmaceutical and cosmetics production are the factor propelling the growth of the carboxymethylcellulose (CMC) market. However, emergence of substitutes in numerous applications is the restraint of the market growth. Furthermore, growing end-use industries in emerging economies and increasing use of CMC for flotation process in mining would generate profitable opportunities for the global market.
The segment considered in the global carboxymethylcellulose (CMC) market are application and geography. On the basis of application, segment is categorized into oil & gas, food & beverages, paper, pharmaceutical & cosmetics, detergents, and other applications.The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, UK, Russia,Italy, and Rest of Europe are analyzed under the European market. India, China, Japan, South Korea, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
Food & Beverages, by application segment led the market with major share in 2017
Food & Beverages contributed for the majority of the share in 2017, in the application segment, and is expected to continue itstrend during the forecast period. In terms of growth. The growth is attributed in this segment owing to rise in the consumption of bakery nutrients, beverages, and fruit juices and soy milk. Also, Oil & gas segment was the second largest application of CMC market. Technological advances in the unconventional oil & gas sector primarily enhanced oil recovery and hydraulic fracturing, has resulted in increase in shale gas exploration activities.
Asia-Pacific accounted for the maximum share in the global carboxymethylcellulose (CMC) market
In 2017, Asia-Pacific was the highest revenue generating region accounting for 34.4% of the global Carboxymethylcellulose (CMC) Market share. Also, Asia Pacific is likely to witness the fastest market growth during the forecast period, owing to substantial consumption in oil & gas, pharmaceuticals, cosmetics, and food & beverage industries in the region is expected to increase demand for carboxymethyl cellulose market.
Prominent players operating in the market include Arkema The Dow Chemical Company, DKS Co. Ltd., NIPPON PAPER INDUSTRIES CO., LTD., Daicel Corporation., Ashland, Lamberti S.p.A., Akzo Nobel N.V., CP Kelco, Shanghai Shenguang Edible ChemiccalsCo., Ltd., and QINGDAO SINOCMC CHEMICAL CO., LTD., among others.