The carboxymethyl cellulose market is expected to record exponential growth by 2027 owing to increasing oil drilling activities in key regions. In addition, the booming pharmaceutical and cosmetics industries across the globe are likely to further support market development over the forecast timeframe.
Carboxymethyl cellulose (CMC), an anionic and water-soluble derivative of cellulose, is extensively applied in various industries viz., food & beverage, construction, pharmaceuticals, and personal care, among others. In the food & beverage industry, CMC is used as a multi-functional ingredient that can act as a stabilizer, thickener, emulsifier, and binder. Recently, escalating demand for low-fat foods and gluten-free frozen foods has bolstered product adoption in leading regions.
Furthermore, industry players have been implementing lucrative strategies to capitalize on emerging trends in the market, which has favorably impacted the global business landscape. For instance, in June 2021, AkzoNobel N.V., a leading paints and performance coatings manufacturer, inked an agreement to acquire Grupo Orbis, a major chemical manufacturing company. The deal enabled AkzoNobel to expand its paints and coatings business across new geographies by leveraging Orbis’ expertise and technology.
The carboxymethyl cellulose market has been segmented based on end-user, purity, and region. In terms of end-user, the market has further been classified into detergents & laundry, food & beverage, pulp & paper, pharmaceuticals, oil & gas, personal care, and others.
The others sub-segment is anticipated to grow at a CAGR of around 2.9% through the study timeline primarily owing to extensive use of carboxymethyl cellulose in paints and adhesives. CMC is also utilized in textiles as a suspension, sizing, and finishing agent. Additionally, it finds various applications in the construction industry, including adhesion, rheology modification, and ceramics, among others. Furthermore, it is widely used in the electrical & electronics sector, particularly in batteries as binder for anode component, which is likely to facilitate segmental expansion in the coming years.
From the regional point of view, the Middle East & Africa carboxymethyl cellulose market is speculated to garner substantial gains by the end of 2027. The Middle East region has been witnessing economic instability due to its increased reliance on the oil sector. Subsequently, the region has been looking to diversify its sources of income by growing its downstream petrochemicals industry, which has fostered product outlook.
Notably, industrial centers like the Rabigh Conversion Industrial Park in Saudi Arabia and the Abu Dhabi Polymer Park in the UAE are some government initiatives to attract global investors. Mounting focus of the Middle East government on the development of the domestic downstream petrochemical industry would boost product demand in the region, which is set to propel MEA carboxymethyl cellulose market growth over the forecast period.