Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Thus, increasing demand from the food and beverages sector, combined with rising oil exploration activities worldwide, has generated significant demand for carboxymethyl cellulose in the last couple of years. In the food and beverages sector, CMC is used as a stabilizer, rheology controller, thickener, and water binder, whereas for oil drilling fluids, it is used as a viscosifier and rheology controller.Moreover, increasing demand for CMC in personal care products and increasing iron ore and mining activities are offering opportunities for growth of the CMC market.However, regulations set by the U.S. Food and Drug Administration (FDA) for use of carboxymethyl cellulose and the easy availability of eco-friendly substitutes limit the growth of this market.
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By end user, food and beverages registered the highest revenue in the CMC market in 2012. This was followed by oil drilling fluids, accounting for 22.3% of the total demand for carboxymethyl cellulose in 2012. Furthermore, personal care is expected to be a rapidly growing end user of CMC in the coming years, adds the report. Paints and adhesives and paper processing will observe stable demand for CMC in the next few years. However, industrial detergents and mining are expected to open promising opportunities for the expansion of the CMC market in the years to come.
In 2012, Asia Pacific dominated the carboxymethyl cellulose market, accounting for nearly 35% of the overall market. The expanding food and beverages industry in the region has been beneficial for the demand for CMC.Rising oil exploration activities, combined with demand from the food and beverages sector, will spur the CMC market in Latin America and the Middle East.Europe trails Asia Pacific in terms of revenue in the CMC market. The demand for carboxymethyl cellulose from various end users such as personal care, food and beverages, and paper processing has been beneficial for the growth of the overall market. In 2012, North America accounted as the third largest market for carboxymethyl cellulose. In the region, the U.S. emerged as the regional leader, due to the flourishing food and beverage industry and high consumer spending on personal care products.
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The carboxymethyl cellulose market is segmented as:
Carboxymethyl Cellulose Market: End-user Analysis
- Food and beverages
- Oil drilling fluids
- Paper processing
- Personal care
- Paints and adhesives
- Others (Including industrial detergents, mining, etc.)
Carboxymethyl Cellulose Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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Source:Transparency Market Research