Carboxymethyl Cellulose Market Expected to Reach $2,439.4 million by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “carboxymethyl cellulose market by purity level, application, property, and region: global opportunity analysis and industry forecast, 2021–2030,” the global carboxymethyl cellulose market size was valued at $1,566.9 million in 2020 and is projected to reach $2,439.4 million by 2030, registering a CAGR of 4.0% from 2021 to 2030. Carboxymethyl cellulose (CMC) also known as cellulose gum is extracted from pure cotton and wood pulp by chemical synthesis with chloroacetic acid. It is used in various end-use industries such as food & beverages, pharmaceutical, oil & refining, paint & textile, cosmetics & personal care, paper coating & household care, and others. It has widespread applications owing to its various properties such as thickening, binding, suspending, emulsifying, lubricating, use as a stabilizing agent, viscosity modifier, and coating. The food & beverage industry is a leading consumer of CMC, which is utilized as emulsifier, stabilizer, and thickener.

CMC is popular as a thickening agent that helps increase the viscosity of liquid without significantly changing its other property. It is used in sauces, puddings, and soups. It is also used to prepare film-foaming materials. This film will be effective in controlling the wound infection. It is used to gauze dressings. Furthermore, CMC is used to prepare gels, to disintegrate tablets, to transport the drugs and it is also used as a stabilizer for emulsions, suspensions, and sprays. Moreover, it is used for the treatment of liver cancer as it is used in preparing trans catheter arterial perfusion anticancer drugs, which also fuels the growth of the carboxymethyl cellulose market.

CMC is produced from cotton and wood. According to the U.S. Department of Agriculture (USDA), production of cotton declined due to the change in climatic conditions in many countries like the U.S., Pakistan, India, and Australia. The changes in climatic conditions and rise in pest issues in crops has declined the cotton production, which, in turn, is expected to hamper the growth of the global carboxymethyl cellulose market.

There is an increase in the popularity of the e-vehicles due to environmental sensitivity, government subsidies, increase in range, and elimination or reduction of use of petrol and diesel. Lithium-ion battery, which is developing high specific energy has replaced the traditional graphite anode materials by the anode materials of high specific capacity such as metal oxides and alloy. Compared with polyvinylidene fluoride (PVDF), the aqueous sodium carboxymethyl cellulose binder can expressively progress the electrochemical property of Si-based electrode. Carboxymethyl cellulose is a significant binder owing to which it helps in improving the electrochemical property of lithium-ion battery, which has great capacity anode materials. There is an increase in the consumption of battery, which in turn provided the lucrative carboxymethyl cellulose market opportunity.

The carboxymethyl cellulose market is segmented on the basis of purity level, application, property, and region. By purity level, the carboxymethyl cellulose market is divided into highly purified, industrial grade, and technical grade. By application, carboxymethyl cellulose market industry is classified into food & beverages, oil & refining, pharmaceutical, paint & textile, cosmetics & personal care, paper coating & household care, and others. By property, the carboxymethyl cellulose market is categorized into thickening agent, stabilizer, binder, anti-repository agent, lubricator, emulsifier, and excipient. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key findings of the study

• By purity level, the highly purified segment accounted for around 62.4% in the carboxymethyl cellulose market share in 2020, growing at a CAGR of 4.5% from 2021 to 2030.
• By application, the food & beverages segment led the global carboxymethyl cellulose market demand in 2020, and is expected to retain its dominance throughout the forecast period.
• By property, the thickening agent segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.
• By region, Asia-Pacific accounted for a prominent market share in 2020 and is anticipated to grow at a CAGR of 5.9% throughout the carboxymethyl cellulose market forecast period.

The key players profiled in the carboxymethyl cellulose market analysis include Ashland Global Holdings Inc., Changzhou Science and Technology Co., Ltd., DKS Co Ltd, Carlyle Investment Management L.L.C., Formitex Empreendimentos e Participações Ltda., Mikro-Technik GmbH & Co. KG, Zibo Hailan Chemical Co., Ltd., Chongqing Lihong Fine Chemicals Co.,Ltd, Amtex Corp SA de CV and Nippon Paper Industries Co., Ltd.