Carboxymethyl Cellulose Market revenue to hit USD 3 Billion by 2035, says Research Nester
Key carboxymethyl cellulose market players include Akzo Nobel N.V., J.M. Huber Corporation, USK KIMYA CORP, Amtex-Corp, Dow, DKS Co. Ltd., NIPPON PAPER INDUSTRIES CO., LTD, Daicel Corporation, Ashland., Amar Cellulose Industries, Patel Industries, and SINOCMC CHEMICAL CO., LTD.
New York, Sept. 05, 2023 (GLOBE NEWSWIRE) — The global carboxymethyl cellulose market size is estimated to attain at ~6% CAGR from 2023 to 2035. The market is expected to garner a revenue of USD 3 billion by the end of 2035, up from a revenue of ~USD 2 billion in the year 2022.The growing consumption of gluten-free products is the major factor driving the market growth. Various additives, including carboxymethyl cellulose, are used to improve the texture, consistency, and shelf life of gluten-free products to compensate for the lack of gluten. In the world, around 13%% of people affected with celiac gluten sensitivity, and 1% with autoimmune celiac disease have switched to gluten-free food.
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Moreover, around 51% of gluten-free food consumers are adopting it for other reasons. In addition to these, a factor that significantly contributes to the market expansion is the rising demand for detergent. Carboxymethyl cellulose can suspend solid particles in the detergent solution. This is especially useful in laundry detergents, where it helps to keep dirt and other particles suspended, preventing them from redepositing on the garments during the washing process.
Carboxymethyl Cellulose Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The food & beverage segment to garner the highest growth
- Market in North America to grow at a highest rate
Increasing Production of Oil and Gas across the Globe to Boost Market Growth
Global crude oil output climbed by around 5% in 2022, much above growth in 2021 which was nearly 1.6%. Carboxymethyl cellulose is a fluid loss control compound that produces a thin, impervious filter cake in the wellbore walls, decreasing fluid loss during drilling. In 2021, the global production of packaging paper and paperboard reached around 264 million metric tons.
Carboxymethyl cellulose is used to improve the characteristics of paper as a coating or surface treatment in the packaging industry. These packagings are then applied in various sectors such as healthcare packaging. Lately, usage of products such as facewashes, moisturizers, exfoliators, and scrubs has increased, around 40% of facial skincare customers across the world use these products more often. CMC is frequently used to improve the consistency and texture of moisturizers, creams, lotions, and gels.
Carboxymethyl Cellulose Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Expanding production of dairy to Drive the Market Growth in Asia Pacific Region
The market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The carboxymethyl cellulose market growth in the region is primarily expected on the account of rising production of dairy products. India is the world’s largest milk producer, accounting for 24% of the world’s milk output in the years 2021-22. During the last eight years, from 2014-15 and 2021-22, India’s milk output has increased by 51%. Furthermore, rising expenditure on cosmetic and pharmaceutical products is also expected to drive market growth in the region. Out of all the regions in Asia-Pacific, China is the leading consumer of carboxymethyl cellulose, the demand is driven by its use in several end-user industries.
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Growing Food and Beverage Industry to Propel the Growth in the North America Region
The North America carboxymethyl cellulose market is estimated to garner the highest CAGR by the end of 2035. The increasing demand for processed and convenience foods, along with the need for effective food preservation and texture enhancement, has propelled the use of CMC in the food and beverage sector. The North American food and beverage industry is estimated to grow at a rate of approximately 4.5% by the year 2025. CMC’s ability to improve viscosity, stabilize emulsions, and provide moisture retention has led to its widespread adoption in various industrial applications. In pharmaceuticals, carboxymethyl cellulose is extensively used as a binder in tablet formulations and as a thickener in liquid dosage forms. The continuous research and development efforts to enhance the properties of carboxymethyl cellulose, such as its rheological behavior and solubility, have paved the way for its utilization in novel applications. These advancements contribute to the overall expansion of the North American carboxymethyl cellulose market.
Carboxymethyl Cellulose, Segmentation by Application
- Food & Beverage
- Paper & Pulp
- Paint & Coating
- Oil Field Drilling Fluid
Amongst these segments, the food & beverage segment is anticipated to hold the largest share over the forecast period. The growth of the segment can be attributed growing consumption of packaged food, ready-to-cook meals, and instant noodles. The average American consumes 31% more packaged food than fresh food. Carboxymethyl cellulose is commonly used in food items as a thickening and stabilizer. It aids in the creation of a constant texture and the prevention of ingredient separation in sauces, gravies, and dressings. As consumers prioritize health and wellness, the demand for functional and nutraceutical foods has surged. CMC’s role as a thickening agent and its compatibility with various nutritional ingredients make it suitable for use in these specialized food products. The convenience food sector is experiencing rapid growth due to changing lifestyles and increasing urbanization. CMC’s role in maintaining the quality of convenience foods, such as frozen meals, sauces, and soups, by preventing texture degradation during freezing and reheating processes, contributes to the expansion of this segment.
Carboxymethyl Cellulose, Segmentation by Grade
- Technical Grade
- Industrial Grade
- High Purity Grade
Amongst these segments, the high-purity segment in carboxymethyl cellulose market is anticipated to hold a significant share over the forecast period. The pharmaceutical industry demands exceptionally pure ingredients to ensure the safety and efficacy of drug formulations. High-purity CMC’s compliance with strict quality standards makes it a sought-after choice for pharmaceutical applications such as tablet binding and controlled-release formulations. In the North American pharmaceutical industry, CMC’s application as a binder is expected to reach a value of USD 670 million by 2025, showcasing its integral role in drug manufacturing.
The personal care and cosmetics industry relies on high-purity CMC to achieve precise formulations that deliver consistent results. Its use as a thickening agent and stabilizer in skincare, hair care, and cosmetic products highlights the importance of maintaining purity for optimal product performance. As the food industry focuses on maintaining the integrity of food products, high-purity CMC emerges as a crucial ingredient to meet stringent food safety regulations. Its role in stabilizing and improving the texture of foods necessitates its use in applications requiring the highest levels of purity.
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Carboxymethyl Cellulose, Segmentation by Property
- Thickening Agent
- Anti-Repository Agent
Few of the well-known industry leaders in the carboxymethyl cellulose market that are profiled by Research Nester are Akzo Nobel N.V., J.M. Huber Corporation, USK KIMYA CORP, Amtex-Corp, Dow, DKS Co. Ltd., NIPPON PAPER INDUSTRIES CO., LTD, Daicel Corporation, Ashland., Amar Cellulose Industries, Patel Industries, and SINOCMC CHEMICAL CO., LTD, and other key market players.
Recent Development in the Market
- AkzoNobel N.V. announces the acquisition of Chinese decorative paints business of Sherwin-Williams, this will solidify its position in to five geographical place in China. The acquisition will be compledted in the second half of 2023.
- Nippon Paper Industries Co., Ltd. announce to set up a manufacturing and sales subsidiary for Sunrose Mac carboxymethyl cellulose in Hungary. It will increase its application in lithium-ion batteries in electric vehicles and will later joining the sypply chain of Europe.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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