Carboxymethyl Cellulose Market is expected to propel with a stable CAGR through 2018 to 2023

Highlights: Carboxymethyl cellulose (CMC) or cellulose gum is a cellulose derivative with carboxymethyl groups attached to the hydroxyl groups of glucopyranose monomers. The product is generally used as its sodium salt. The major applications of CMC are in paper processing, cosmetics, food & beverage, and personal care, among others. In the foods & beverage industry, CMC is mainly used as a viscosity modifier, thickener, and emulsifier. The product is also used in fat-free food products.
Additionally, CMC is a major constituent of non-consumable food items such as toothpaste, diet pills, and laxatives. Moreover, water-based paints, reusable heat packs, detergents, and paper processing require substantial amounts of carboxymethyl cellulose (CMC). By application, the market has been categorized into, food & beverage, cosmetics and personal care, pharmaceuticals, paper processing, oil & gas, paints and coatings, detergents, and others. The food & beverage segment is expected to be the largest. The product is widely used in making ice cream, baked goods, and chewing gum to improve the flavor, texture, and quality of the product. Furthermore, surging demand for processed food is likely to boost the growth of the carboxymethyl cellulose market during the forecast period.
Global Competitors: The prominent players in the Global Carboxymethyl Cellulose Market are; Akzo Nobel N.V. (Netherlands), CP Kelco (US), NIPPON PAPER INDUSTRIES CO. LTD. (Japan), DAICEL FINECHEM LTD. (Japan), The Dow Chemical Company (US), Ashland (US), Química Amtex, S.A. De C.V. (Mexico), DKS Co. Ltd. (Japan), Lamberti S.p.A. (Italy), and QINGDAO SINOCMC CHEMICAL CO. LTD. (China).
Segmentation: The Global Carboxymethyl Cellulose Market has been segmented on the basis of application, and region.
By regions, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. By application, the market has been divided into food & beverage, oil & gas, paints and adhesives, paper processing, cosmetics and personal care, pharmaceuticals, and detergents.
Regional Analysis: The Global Carboxymethyl Cellulose Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The North American market was the second-largest in terms of market size, with the US as the largest market in the region. This can be attributed to the high demand for CMC from the growing food & beverage and chemicals industries.
Asia-Pacific was the dominant carboxymethyl cellulose market with more than a 40% share in 2017. This can primarily be attributed to the growing demand from the well-established pharmaceutical and personal care industries in this region. Favorable government policies pertaining to food processing is likely to boost the growth of the market in this region. The major markets in this region are India, Japan, South Korea, and China on account of the presence of major end-use industries.
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