The global Carboxymethyl cellulose market is witnessing a high degree of competition, thanks to the presence of a large pool of multinational players, finds a research report published by Transparency Market Research (TMR). With two massive manufacturing facilities, CP Kelco emerged as the leading producers of carboxymethyl cellulose across the world in 2012 and was closely followed by Ashland Inc. and Akzo Nobel N.V. No significant change is expected in this scenario over the forthcoming years.
The leading companies are predicted to explore viable prospects through mergers, acquisitions, and strategic alliance in a bid to sustain in this competitive environment. The construction of new manufacturing facilities, in order to cater to the increased demand for carboxymethyl cellulose, is also projected to emerge as a prominent trend in this market over the next few years.
According to the research study, the worldwide market for carboxymethyl cellulose presented an opportunity worth US$0.8 bn in 2012. Rising at a CAGR of 3.20% during the period from 2013 to 2019, it is estimated to increase to US$1.0 bn by the end of the forecast period. Carboxymethyl cellulose finds a widespread usage as a water binder, stabilizer, rheology controller, and thickener in the food and beverage industry. However, over the next few years, it will witness a remarkable surge in the demand from the personal care products sector.
Asia Pacific to Lead Demand for Carboxymethyl Cellulose
Among regional markets, Asia Pacific led the demand for carboxymethyl cellulose in 2012, with a share of 35%, notes the study. The substantial rise in the Asia Pacific food and beverage industry has fueled the demand for carboxymethyl cellulose in this region over the last few years.
The significant rise in oil exploration activities in Asian economies is expected to maintain a high demand for carboxymethyl cellulose throughout the forecast period, ensuring the dominance of Asia pacific. Latin America and the Middle East and Africa will also witness a steady rise in the demand for carboxymethyl cellulose in the near future.
Growing Awareness Regarding Health and Fitness to Boost Demand for Carboxymethyl Cellulose
“The demand for carboxymethyl cellulose is highly influenced by the increasing preference for low-fat and gluten-free food,” states an analyst at TMR. The growing awareness among consumer pertaining to health and fitness has triggered a massive shift toward healthy food products, especially gluten-free low-fat frozen desserts. As carboxymethyl cellulose helps in decreasing fat content in food and beverage items, its demand has been remarkably increased in the recent times.
Due to its cost-efficiency, carboxymethyl cellulose has also surfaced as a preferred option among hydrocolloids, increasing its usage in the food and beverage industry. In addition, the rise in the exploration of oil across the world is likely to fuel the demand for carboxymethyl cellulose in the near future.
Stringent U.S. FDA Regulations to Restrict Usage of Carboxymethyl Cellulose
In the coming years, although the market is expected to witness a robust rise, stringent rules implemented by the U.S. FDA regulating the usage of carboxymethyl cellulose are likely to limit their applications to some extent. Other than this, the easy availability of environment-friendly substitutes are also expected to obstruct the growth trajectory of this market, states the report.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Carboxymethyl Cellulose Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”
The carboxymethyl cellulose market is segmented as:
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