Albany, NY, Jan. 21, 2016 (GLOBE NEWSWIRE) -- A research report by Transparency Market Research, titled “Carboxymethyl Cellulose Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” pegs the value of the global carboxymethyl cellulose market at US$834.0 million in 2012. According to the study conducted, the market, by 2019, will reach US$1,039.8 million. If the figures hold true, the global carboxymethyl market will exhibit a positive CAGR of 3.2% between 2013 and 2019.
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The increasing demand for low-fat and gluten-free frozen desserts is driving the market for carboxymethyl cellulose (CMC). Carboxymethyl cellulose helps in reducing fat content in food. Due its low cost and superior performance characteristics, carboxymethyl cellulose is preferred over other hydrocolloids in the food and beverage industry. Furthermore, with rising oil exploration worldwide, the demand for carboxymethyl is poised to grow substantially in the near future.
In the food and beverages industry, CMC finds extensive use as a rheology controller, stabilizer, water binder, and thickener. In the oil drilling fluids sector, CMC is used as a rheology controller and viscosifier. The application of CMC is, however, not limited to the aforementioned industries. In the recent past, CMC has witnessed increasing demand from the personal care products sector. It is also used in iron ore and mining activities. With such diverse applications, the demand for CMC is anticipated to escalate by several manifolds during the report’s forecast period.
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Despite witnessing robust growth, stringent regulations imposed by the U.S. FDA governing the use of CMC will restrain the market. The availability of eco-friendly substitutes will also hamper its growth trajectory to an extent. Among the end users of CMC, the food and beverages industry contributed the highest share of revenue generated by the global CMC market in 2012. The oil drilling fluids industry accounted for 22.3% of the total demand for CMC in 2012 and emerged as the second largest segment. The demand for CMC from the personal care segment is also expected to grow rapidly in the coming years. The CMC market will also witness steady demand from the paints and adhesives industry over the report’s forecast period. Mining and industrial detergents are expected to offer lucrative opportunities for the CMC market to capitalize on in the near future.
Regionally, Asia Pacific held a dominant share of 35% in the global carboxymethyl market in 2012. The region is home to an expanding food and beverages industry, which aids in fuelling demand from the CMC market. The rising oil exploration in the region will also increase the demand for CMC. Furthermore, increasing demand from the food and beverage sector will fuel demand from the CMC market in the Middle East and Latin America. Europe follows Asia Pacific in terms of demand exhibited for CMC. North America emerged as the third-largest market for carboxymethyl cellulose in 2012.
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The TMR report provides a comprehensive overview of the market, providing insights into the key factors driving or restraining the market’s growth between 2013 and 2019.
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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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decisionmakers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research