- Escalating demand for pharmaceuticals and cosmetic products will have a positive impact on the growth of the carboxymethyl cellulose market
- Properties of carboxymethyl cellulose such as high viscosity, salt resistance, and optimum high resistance, among others attract considerable growth opportunities
ALBANY, N.Y., July 21, 2021 /PRNewswire/ -- Increasing demand for functional ingredients in numerous food products and expanding popularity of frozen desserts will serve as prominent growth drivers for the carboxymethyl cellulose market during the assessment period of 2020-2030. The growth of the oil &gas industry is also anticipated to offer several growth prospects for the carboxymethyl cellulose market.
Carboxymethyl cellulose is used as an emulsifying agent in drilling fluids necessary for hydraulic fracturing operations. Carboxymethyl cellulose is a cellulose gum type derived from pure cotton and wood pulp. It is primarily used as a thickening, binding, stabilizing, and sizing agent across extensive applications. The properties of carboxymethyl cellulose such as high viscosity, salt resistance, optimum acid resistance, etc.are likely to offer lucrative opportunities for the global market. In addition, the exponential demand for natural stabilizers in drug manufacturing will help in structuring the growth trajectory of the carboxymethyl cellulose market.
Transparency Market Research (TMR) has performed an extraordinary analysis on all growth factors associated with the carboxymethyl cellulose market. Analysts at the TMR Group, in the research report on the the carboxymethyl cellulose market, predict that the market would expand at a CAGR of 3.5% during the forecast period of 2020-2030. The global market for carboxymethyl cellulose was valued at US$ 1 Bn in 2019 and is extrapolated to surpass US$ 2 Bn by 2030.
Mechanical cleansers and the mining sector will bring immense growth for the carboxymethyl cellulose market during the assessment period. Furthermore, carboxymethyl cellulose will also witness exponential demand from the paints and adhesive sector due to its extraordinary properties. These aspects will strengthen the growth trajectory substantially.
Key Findings of Global Market
Rising Disposable Income of Individuals Residing in Low-income Economies to Propel Market Growth
The rapidly growing disposable income of individuals living in low-income and developing economies will prove to be profitable for the carboxymethyl cellulose market. As disposable income increases, the consumption of gluten-free and healthy food also increases substantially. These factors will help decide the growth structure of the carboxymethyl cellulose market during the tenure of 2020-2030.
Use of Carboxymethyl Cellulose in Cosmetics and Personal Care Products to Bring Profitable Growth
Carboxymethyl cellulose is used on a massive scale in cosmetics and personal care products. It is prominently used as a stabilizing and binding agent. The demand for these products is rising at a rapid rate among the global populace. This aspect will bring tremendous growth opportunities for the carboxymethyl cellulose market during the tenure of 2020-2030.
High Demand for Medicines to Treatment of Several Diseases, Disorders to Fuel Market Expansion
The prevalence of infections and other diseases is increasing expansively across the globe. The need for medicines has expanded to a great extent because of high disease prevalence. Hence, increased consumer spending on medicines is driving the carboxymethyl cellulose market. Carboxymethyl cellulose is used on a massive scale in specialty medicines due to its property of high viscosity. As it is used in the processing of specialty medicines, these factors will prove to be revenue generators for the carboxymethyl cellulose market.
Monochloroacetic Acid Market - The growth of the monochloroacetic acid market can be ascribed to the rise in demand for carboxymethyl cellulose, as monochloroacetic acid is used in the manufacture of carboxymethyl cellulose. Globally, more than 30% of the monochloroacetic acid is used in the production of carboxymethyl cellulose. Carboxymethyl cellulose is used as a viscosifier in drilling muds for drilling of boreholes for the extraction of oil and gas. It balances physical parameters such as viscosity, thereby reducing the loss of water and increasing the thixotropy of the oil. It also arrests the growth of fungus while drilling mud, thereby terminating the need of preservatives and pH level indicators in the mud. Therefore, demand for monochloroacetic acid is directly proportional to the usage of carboxymethyl cellulose for oil exploration and rig drilling activities.
Carboxymethylcellulose (CMC) Market - The global carboxymethyl cellulose market is classified as per the end users. It is segmented as oil drilling fluids, personal care, food and beverages, paints and adhesives, paper processing, and others (such as industrial detergents, mining, and so on). Among these, food and beverages sector accounted for the major share of revenue in the global carboxymethyl cellulose market. Additionally, the demands for carboxymethyl cellulose is likely to increase in the personal care sector owing to its rising usage in it. In coming times, the mining sector and mechanical cleansers are foreseen to provide interesting offers for the players in CMC. Increasing contribution via paint and adhesive sector is estimated to fuel the demand regarding the carboxymethyl cellulose in the forthcoming years.
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