Carboxymethyl Cellulose Market to Reach $2.37 Bn, Globally, by 2026 at 4.1% CAGR: Allied Market Research

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Sep 03, 2019, 08:30 ET

PORTLAND, Oregon, Sept. 3, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Carboxymethyl Cellulose Market by Purity Level (Highly Purified, Technical Grade, and Industrial Grade), Application (Food & Beverages, Oil & Refining, Pharmaceutical, Paint & Textile, Cosmetics & Personal Care, Paper Coating & Household Care, and Others), and Property (Thickening Agent, Stabilizer, Binder, Anti-Repository Agent, Lubricator, Emulsifier, and Excipient): Global Opportunity Analysis and Industry Forecast, 2019–2026" According to the report, the global carboxymethyl cellulose industry generated $1.74 billion in 2018, and is estimated to reach $2.37 billion by 2026, registering a CAGR of 4.1% from 2019 to 2026.

Rise in adoption of carboxymethyl cellulose in different food & beverages and increase in development of biopolymer composites films through carboxymethyl cellulose have boosted the growth of the carboxymethyl cellulose market growth. However, dynamic climatic conditions and rising pest issues in crops hamper the cotton production, which, in turn, hinder the market growth. On the contrary, diversified use of carboxymethyl cellulose in other fields, expansion of market in clean label, and expansion of raw material base for production of carboxymethyl cellulose are expected to create lucrative opportunities in the near future.

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Highly purified segment dominated the market in terms of both revenue and CAGR

Based on purity level, the highly purified segment accounted for the major share in 2018, contributing more than three-fifths of the total share in the carboxymethyl cellulose market. This segment is expected to continue its dominant share during the forecast period. Moreover, the segment is expected to grow at the highest CAGR of 4.3% from 2019 to 2026, owing to rising use of carboxymethyl cellulose across the globe. This report also analyzes the technical and industrial-grade segments.

Food and beverages segment to continue its dominant position by 2026

Based on application type, the food and beverages segment held the highest market share in terms of revenue in 2018, contributing nearly one-third of the total share. This segment is expected to continue its dominant share during the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 4.6% from 2019–2026, owing to its emulsifier properties which results in enhancing the demand in the carboxymethyl cellulose market.

Asia-Pacific to contribute the highest share, North America to follow

Asia-Pacific contributed nearly one-third of the total share in 2018 in the carboxymethyl cellulose market. This segment is expected to continue its dominant share during the forecast period. Moreover, this segment is estimated to grow at the highest CAGR of 5.6% from 2019–2026, owing to its emulsifier properties and the changing lifestyle due to globalization and rising working population. On the other hand, North American region contributed more than one-fourth of the total revenue in 2018.

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Leading players of carboxymethyl cellulose market

Chongqing Lihong Fine Chemicals Co., Ltd.
Formitex Empreendimentose Participacoes Ltd
J.M. Huber Corporation
Ashland Global Holdings Inc,
Quimica Amtexy Amtex Chemicals
Changzhou Science & Technology Co. LTD
LLC
DKS Co. Ltd
Carlyle Investment Management L.L.C.
Mikro-Technik GmbH & Company KG
Zibo Hailan Chemical Co., Ltd

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