The global carboxymethyl cellulose market in Asia-Pacific is estimated to register the highest CAGR of 5.9% during the forecast period.
Allied Market Research published a research report on the global carboxymethyl cellulose market. The research shows that the global carboxymethyl cellulose market is pegged at $1.56 billion in 2020, and is projected to garner $2.43 billion by 2030, registering a CAGR of 4.0% from 2021 to 2030. The research provides comprehensive information about market dynamics, major segments, top investment pockets, and competitive scenarios for major market players, investors, new market entrants, and shareholders.
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Shankar Bhandalkar, the Lead Analyst, at food & beverages at allied market research, said, “The global carboxymethyl cellulose market in Asia-Pacific is estimated to register the highest CAGR of 5.9% during the forecast period.”
The study offered comprehensive information on drivers, restraints, challenges, and opportunities to help understand major market players and their investments and devise growth strategies and capitalize on opportunities.
Rise in need for carboxymethyl cellulose in e-vehicle batteries, development of biopolymer composite films through carboxymethyl cellulose, use of carboxymethyl cellulose in 4D printing of polyurethane paint, and development of edible film coatings and film through carboxymethyl cellulose have boosted the growth of the global carboxymethyl cellulose market. However, decline in raw material resources and availability of substitute products hinder the market growth. On the contrary, the expansion of the market in clean labels and diversified use of carboxymethyl cellulose is expected to open new opportunities in the future.
The study provides a comprehensive analysis of the impact of the Covid-19 pandemic on the global carboxymethyl cellulose market. The pandemic created unprecedented challenges for exporters in both developing and developed countries. The prolonged lockdown disrupted the supply chain. Dearth of workforce in production facilities and increased prices of raw materials hampered the market. Moreover, government restrictions on the export and import of goods and strict quarantine measures created challenges for both suppliers and customers.
The report offers detailed segmentation of the global carboxymethyl cellulose market on the purity level, application, property, and region.
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By purity level, the highly purified segment held the largest share in 2020, accounting for more than three-fifths of the market. In addition, the segment is estimated to register the highest CAGR of 4.5% during the forecast period.
By application, the food & beverages segment is projected to portray the highest CAGR of 5.0% during the forecast period. Furthermore, the segment held the largest share in 2020, contributing to more than one-third of the market.
By property, the thickening agent segment is anticipated to manifest the highest CAGR of 5.1% during the forecast period. In addition, the segment held the largest share in 2020, accounting for more than one-fourth of the market.
By region, the market across Asia-Pacific dominated in 2020, holding around one-third of the market. In addition, the region is expected to manifest the highest CAGR of 5.9% during the forecast period.
The key market players of the global carboxymethyl cellulose market are analyzed in the report such as Ashland Global Holdings Inc, J.M. Huber Corporation, Changzhou Science & Technology Co., LTD, Quimica Amtex y Amtex Chemicals, LLC, Carlyle Investment Management L.L.C., DKS Co. Ltd, Mikro-Technik GmbH & Company KG, Zibo Hailan Chemical Co., Ltd, Chongqing Lihong Fine Chemicals Co., Ltd.
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