Carboxymethyl cellulose is also known as cellulose gum or tylose powder. It is a chemically stable, odorless, physiologically inert, and tasteless substance. It is non-toxic, hypoallergenic, and exhibits high viscosity. Caustic soda, monochloroacetic acid, and plant-derived cellulose are some of the major raw materials used in the manufacturing of carboxymethyl cellulose.
The global carboxymethyl cellulose market is estimated to account for US$ 1154.5 Mn in terms of value by the end of 2022.
Drivers:
Rising demand from oil drilling activities is expected to foster the market growth of carboxymethyl cellulose. Growing demand for crude oil and natural gas around the globe is expected to fuel the demand for oil drilling activities which in turn creates huge demand for carboxymethyl cellulose. Carboxymethyl cellulose is used as a viscosifier in drilling mud, digging, and other activities associated with the oil and gas industry. Thus, the growing demand for carboxymethyl cellulose from oil drilling activities is projected to augment market growth over the foreseeable period.
Market Opportunities
Growing demand for carboxymethyl cellulose from personal care and cosmetic industry is expected to serve major market opportunities in the near future. CMC is used as a binder, thickener, and stabilizer in the personal care industry and is expected to foster the market growth of carboxymethyl cellulose. It is widely used across sanitary napkins, wet tissues, and diapers as a binder with higher water absorption. Thus, the growing demand for carboxymethyl cellulose from the personal care industry is expected to augment the market growth in the near future.
Market Restraints
Strict regulations associated with the use of carboxymethyl cellulose across the food &beverage industry is expected to restrict the market growth of carboxymethyl cellulose over the forecast period. According to the standard set by FDA, manufacturers are required to follow certain rules in order to meet stipulations of regulatory bodies.
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https://www.coherentmarketinsights.com/market-insight/carboxymethyl-cellulose-market-4132
Key Takeaways:
Food & Beverage segment dominated the global carboxymethyl cellulose market in 2022, accounting for a 33% share in terms of value, followed by oil drilling fluids and personal care, respectively
Market Trends
Increasing investment by manufacturers in enhancing the production capacity of carboxymethyl cellulose is a growing trend in the market. For instance, in March 2020, Nippon Paper Industries Co. announced the construction of a new facility for the functional cellulose product carboxymethyl cellulose at the Gotsu Mill in Gotsu City, Shimane Prefecture of Japan. The company will invest approximately JPY 4.7 billion into this facility.
Growing awareness regarding painting houses is encouraging consumers to spend on renovation of the house is one of the ongoing trends. This is creating demand for high-performance paints and coatings. Carboxymethyl cellulose is widely used as a stabilizer and thicker in the paints. The growth of carboxymethyl cellulose is also attributed to the rapidly growing construction industry due to increasing urbanization and industrialization around the globe. Thus, the growing demand for paints from the construction industry is propelling the market growth of carboxymethyl cellulose over the forecast period.
Carboxymethyl Cellulose Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has changed the consumer buying pattern and have made consumer conservative, leading to a decline in their spending for non-essential products. On the other hand, the demand for home care products and personal hygiene is expected to rise in the forecast period owing to growing awareness among consumers to minimize the chances of infection during the pandemic situation.
Competitive Section:
- Akzo Nobel N.V.
- Ashland Inc.
- CP Kelco
- Daicel Corporation
- The Dow Chemical Company
- Lamberti S.p.A
- Penn Carbose Inc.
- Sichem LLC
- SINOCMC Co. Ltd.
- Yixing Tongda Chemical Co. Ltd.
- Nouryon
Few Recent Developments
In January 2020, Nouryon signed an agreement to acquire JM Huber’s carboxymethyl cellulose (CMC) business. This acquisition will add production capabilities of a complete line of CMC grades to Nouryon’s carboxymethyl cellulose product portfolio.
