USD 2 Billion
Global Carboxymethyl Cellulose Market Size, Share, Growth Analysis, By Purity Level(Technical Grade, and Industrial Grade), By Application(Food & Beverages, Oil & refining) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2371 |
Region:
Global |
Published Date: February, 2024
Pages:
184
|
Tables:
66 |
Figures:
75
Global Carboxymethyl Cellulose Market Insights
Global Carboxymethyl Cellulose Market size was valued at USD 2 Billion in 2021 and is poised to grow from USD 2.09 Billion in 2022 to USD 2.92 Billion by 2030, at a CAGR of 4.2% during the forecast period (2023-2030).
The purpose of the carboxymethyl cellulose market is to cater to the growing demand for this versatile ingredient across various industries. CMC is valued for its unique properties, including thickening, stabilizing, and emulsifying capabilities, making it a crucial component in many products. The driving factors behind the growth of the global carboxymethyl cellulose market is the increasing consumer demand for convenience and processed food products. There are certain restraining factors that impact the market. One such factor is the availability of alternative products and substitutes that offer similar functionalities. The carboxymethyl cellulose market also faces challenges related to regulations and compliance standards. As the demand for clean-label and natural products increases, manufacturers need to ensure that CMC meets the necessary regulatory requirements and aligns with consumer preferences.
The global carboxymethyl cellulose market presents several opportunities for growth. The expanding food and beverage industry in emerging economies, the development of innovative products, and the increasing demand for pharmaceutical excipients and personal care products offer significant opportunities for market players. The global carboxymethyl cellulose market serves the purpose of meeting the demand for a versatile cellulose derivative in various industries. The market is driven by factors such as the demand for convenience and processed foods, expanding pharmaceutical and personal care sectors, and the unique properties of CMC. challenges such as availability of substitutes, raw material price volatility, and regulatory compliance exist. Nonetheless, opportunities lie in emerging markets, product innovation, and sustainable solutions.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Technical Grade
Fastest Growth
Technical Grade
Growth Rate
4.2% CAGR
Global Carboxymethyl Cellulose Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Carboxymethyl cellulose Market Size By Purity Level, 2022-2030 ($ Bn)
Global Carboxymethyl Cellulose Market Size By Purity Level, 2022-2030 (%)
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Global Carboxymethyl Cellulose Market Segmental Analysis
The global carboxymethyl cellulose market is segmented on the basis of purity Level, application, and region. In terms of purity level, the market is segmented into technical grade, and industrial grade. With respect to categorization by application, the market is segmented into food & beverages, oil & refining, pharmaceutical, paint & textile, cosmetics & personal care, paper coating & household care, and others. Regionwise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Carboxymethyl Cellulose Market Analysis by Purity Level
Technical grade CMC refers to the lower purity level of carboxymethyl cellulose. It is primarily used in industrial applications where stringent quality standards are not the primary concern. Technical grade CMC is commonly utilized in various industries such as oil and gas drilling, mining, construction, and textile manufacturing. In these applications, CMC acts as a thickening agent, binder, and stabilizer. Technical grade CMC is often chosen for its cost-effectiveness and basic functionality, suitable for non-food and non-pharmaceutical applications.
Industrial grade CMC represents a higher purity level compared to technical grade CMC. It is manufactured with greater emphasis on quality control and adhering to specific standards. Industrial grade CMC finds extensive usage in several industries, including food and beverages, pharmaceuticals, personal care, and paper and pulp. In the food industry, it serves as a stabilizer, thickener, and emulsifier in various processed food products such as dairy, sauces, dressings, and baked goods. Industrial grade CMC is also widely employed in pharmaceutical formulations as a binder, disintegrant, and viscosity modifier. It is utilized in personal care products like cosmetics, detergents, and toiletries due to its ability to improve texture and enhance product performance.
Global Carboxymethyl Cellulose Market Analysis by Application
CMC finds extensive use in the food and beverage industry as a versatile ingredient. It is employed as a stabilizer, thickener, emulsifier, and texture modifier in various food products such as dairy, sauces, dressings, confectionery, bakery items, and beverages. CMC enhances the viscosity, mouthfeel, and shelf stability of these products. Oil & Refining and refining industry, CMC is utilized as a drilling fluid additive. It helps in fluid viscosity control, filtration control, and suspension of solid particles during oil and gas drilling operations. CMC also improves the stability and performance of drilling fluids under high-temperature and high-pressure conditions.
Pharmaceutical CMC is widely used in the pharmaceutical industry as an excipient in tablet formulations. It acts as a binder, disintegrant, and film-forming agent, ensuring the integrity, controlled release, and dissolution of pharmaceutical tablets. CMC enhances the tablet's mechanical strength and aids in drug release. Paint & Textile CMC is employed in the paint and textile industries as a thickener, stabilizer, and binder. In paint formulations, CMC enhances viscosity control, suspension of pigments, and stability. In the textile industry, it acts as a sizing agent, providing improved fabric strength, wrinkle resistance, and easier fabric handling.
Global Carboxymethyl Cellulose Market Size By Purity Level, 2022(%), 2023 (%)
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Global Carboxymethyl Cellulose Market Regional Insights
Asia-Pacific (APAC) is the dominating region in the global carboxymethyl cellulose market. The APAC region has a significant share in both consumption and production of CMC. Countries like China, India, Japan, South Korea, and Southeast Asian nations are major contributors to regional dominance. Several factors contribute to the leading position of APAC in the market. These include the region's large population, rapid industrialization, robust growth of end-use industries such as food and beverages, pharmaceuticals, personal care, and increasing consumer demand for processed food and convenience products.
The Middle East and Africa (MEA) is expected to be the fastest-growing region in the global carboxymethyl cellulose market. The MEA region is witnessing substantial growth in various industries, including food and beverages, oil and gas, and pharmaceuticals. The rising population, urbanization, increasing disposable income, and changing consumer preferences are driving the demand for processed food, pharmaceutical products, and personal care items in the region. As a result, the consumption of CMC is projected to grow significantly in the MEA region, making it the fastest-growing market.
Global Carboxymethyl Cellulose Market Size By Geography, 2022-2030, 2024-2031
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- Fastest
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Global Carboxymethyl Cellulose Market Dynamics
Global Carboxymethyl Cellulose Market Drivers
Growing Consumer Awareness and Demand for Clean Label Products
- Consumer awareness regarding the quality and safety of food and personal care products increased in 2022. There was a rising demand for clean label and natural products, driving the use of CMC as a preferred ingredient due to its natural and sustainable characteristics. Consumers are increasingly seeking products with minimal additives and ingredients that align with their health and environmental concerns.
Expansion of End-Use Industries in Emerging Markets
- The rapid industrialization and economic growth in emerging markets, particularly in Asia-Pacific and Latin America, acted as a significant driver for the CMC market in 2022. The expanding food and beverage, pharmaceutical, and personal care industries in these regions drove the demand for CMC as a functional ingredient.
Global Carboxymethyl Cellulose Market Restraints
Volatility in Raw Material Prices
- The CMC market faced challenges due to the volatility in raw material prices, particularly cellulose. Fluctuations in cellulose prices can impact the cost of CMC production and pricing, posing challenges for manufacturers and impacting profit margins. Price fluctuations can also affect the market competitiveness of CMC compared to alternative products.
Availability of Substitute Products
- The presence of substitute products and alternatives with similar functionalities posed a restraint on the CMC market in 2022. Other cellulose derivatives or synthetic thickeners can offer comparable properties, potentially leading to competition and pricing pressures. Manufacturers of CMC need to differentiate their products based on quality, performance, and cost-effectiveness to maintain market share.
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Global Carboxymethyl Cellulose Market Competitive Landscape
The global carboxymethyl cellulose market features a competitive landscape with several key players vying for market share and striving for product differentiation. The competitive landscape is influenced by factors such as product quality, innovation, pricing strategies, distribution networks, and customer relationships. The global CMC market is competitive, with key players focusing on factors like product quality, innovation, pricing strategies, distribution networks, and customer relationships. Leading companies aim to expand their product portfolios, invest in research and development, establish strategic partnerships, and enhance their geographical presence to gain a competitive edge. Differentiation is achieved through product quality, technical support, customer service, and sustainability initiatives.
Top Player’s Company Profiles in Global Carboxymethyl Cellulose Market
- CP Kelco (US)
- Dow Chemical Company (US)
- Nippon Paper Industries Co., Ltd. (Japan)
- Akzo Nobel N.V. (Netherlands)
- Lamberti S.p.A. (Italy)
- Daicel Corporation (Japan)
- Química Amtex S.A. de C.V. (Mexico)
- Ugur Seluloz Kimya A.S. (Turkey)
- DKS Co. Ltd. (South Korea)
- Anqiu Eagle Cellulose Co., Ltd. (China)
- QINGDAO SINOCMC CHEMICAL CO., LTD. (China)
- Lamberti Group (Italy)
- Xuzhou Liyuan Chemical Co., Ltd. (China)
- Patel Industries (India)
- Shanghai Shenguang Edible Chemical Co., Ltd. (China)
- Ashland Specialty Ingredients (US)
- Sichuan Longmang Fusheng Biotechnology Co., Ltd. (China)
- Hangzhou Hongbo New Materials Co., Ltd. (China)
- Samsung Fine Chemicals Co., Ltd. (South Korea)
Global Carboxymethyl Cellulose Market Recent Developments
- In September 2022, Lamberti S.p.A., an Italian specialty chemical company, announced the launch of a new line of eco-friendly CMC products. The range, named Lamco™ Green, emphasized sustainability by utilizing raw materials from renewable sources and employing eco-friendly manufacturing processes.
- In April 2022, Ashland Global Holdings Inc. introduced a new grade of CMC, called Aqualon™ CMC 11M4F, specifically designed for high-performance adhesives and sealants. This grade offers improved viscosity control and adhesive strength, addressing the evolving needs of the adhesives market.
- In January 2022, CP Kelco, a leading manufacturer of CMC, announced the expansion of its CMC production capacity at its Wulian, China facility. The expansion aimed to meet the growing demand for CMC in various industries, including food and beverages, personal care, and pharmaceuticals.
- In November 2021, Dow Chemical Company announced the expansion of its CMC production facility in Zhangjiagang, China. The expansion aimed to meet the increasing demand for CMC in various industries, including food and beverages, pharmaceuticals, and household care.
Global Carboxymethyl Cellulose Key Market Trends
- Increasing Emphasis on Sustainability: The global shift towards sustainability and environmental consciousness was a key trend in the CMC market. Manufacturers and consumers are increasingly focused on using sustainable and eco-friendly ingredients. CMC, being derived from renewable cellulose sources, aligns with this trend and offers advantages over synthetic alternatives. The trend towards sustainable sourcing and production processes continued to shape the market landscape in 2022.
- Technological Advancements and Product Innovations: The CMC market witnessed advancements in manufacturing processes and product innovations in 2022. Manufacturers focused on enhancing the functional properties, purity, and performance of CMC to cater to specific industry requirements. Innovations such as modified CMC grades for specialized applications and improved production techniques contributed to the market's growth and differentiation.
Global Carboxymethyl Cellulose Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global carboxymethyl cellulose market analysis, the increasing consumer awareness, coupled with the growing demand for processed food and convenience products are the key growth drivers. Additionally, the rise in the number of end-use industries, and technological advancements are also projected to aid in market growth. The rising demand for processed foods, convenience foods, and ready-to-eat meals is driving the demand for CMC in this industry. Additionally, the increasing adoption of natural and organic food products is also fuelling the market growth as CMC is a plant-based ingredient. The pharmaceutical industry is another significant consumer of CMC, owing to its excellent properties such as non-toxicity, biodegradability, and compatibility with other pharmaceutical ingredients. The increasing prevalence of chronic diseases and the need for advanced drug formulations are expected to further boost the demand for CMC in this industry. The market growth is restrained by factors such as the availability of substitutes, fluctuations in raw material prices, and environmental concerns associated with CMC production. The global carboxymethyl cellulose market is expected to continue to grow in the coming years, driven by the increasing demand from various industries and the development of new applications and products. market players must keep up with the evolving market trends and customer requirements to stay competitive in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2 Billion |
| Market size value in 2031 | USD 2.92 Billion |
| Growth Rate | 4.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Carboxymethyl Cellulose Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Carboxymethyl Cellulose Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Carboxymethyl Cellulose Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Carboxymethyl Cellulose Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Carboxymethyl Cellulose Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Carboxymethyl Cellulose Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Carboxymethyl Cellulose Market Report Snapshots
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