by The carboxymethyl cellulose (CMC) market comprises sodium CMC and other derivatives of cellulose. CMC is commonly used as a viscosity modifier and stabilizer in food & beverages, cosmetics, oil drilling fluids, detergents, pharmaceuticals, paints & coatings, and other industrial applications. It helps improve the texture and prevent phase separation of emulsions. The food & beverage industry employs it as a thickening and stabilizing agent in various products like soups, sauces, salad dressings, dairy products, noodles, etc. The pharmaceutical industry utilizes CMC’s ability of forming concentrated solutions and dispersions to develop sustained-release drugs.
The global Carboxymethyl Cellulose Market is estimated to be valued at US$ 1201.83 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the carboxymethyl cellulose market is the increasing demand from the personal care industry. CMC is widely used in cosmetic products due to benefits like viscosity control, emulsion stabilization, and rheology modification. It aids in improving the texture of various products like lotions, creams, gels, masks, and other skincare formulations. The booming personal care sector, especially in emerging nations, driven by the growing middle-class population, rising disposable income, and increasing awareness about beauty products, will significantly propel the utilization of CMC in the coming years. This factor is projected to fuel the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in carboxymethyl cellulose market is moderate as it requires significant capital investment for setting up manufacturing facilities and production processes. However, presence of large number of suppliers offering various grades of carboxymethyl cellulose at competitive prices acts as a deterrent.
Bargaining power of buyers: The bargaining power of buyers in the carboxymethyl cellulose market is high due to availability of numerous suppliers offering differentiation in quality and application-specific products. Buyers can negotiate on price and drive down costs.
Bargaining power of suppliers: The bargaining power of suppliers is moderate since raw materials used for the production of carboxymethyl cellulose such as cellulose and caustic soda are abundantly available. However, suppliers still hold a negotiating position due to a large number of global suppliers in the market.
Threat of new substitutes: Low as carboxymethyl cellulose has strong product differentiation based on viscosity, purity, and other performance properties. Developing new substitutes require significant R&D investments.
Competitive rivalry: High owing to the presence of numerous domestic and international players offering carboxymethyl cellulose at competitive pricing. Companies focus on new product development, capacity expansion and mergers & acquisitions for gaining competitive edge.
Key Takeaways
The global carboxymethyl cellulose market size is expected to witness high growth. The global Carboxymethyl Cellulose Market is estimated to be valued at US$ 1201.83 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to dominate the global market during the forecast period owing to rising manufacturing industries and increased application in construction, food & beverages, oil & gas, personal care and others in emerging economies such as China and India. The growing construction, food & beverages and personal care industries are driving the carboxymethyl cellulose market growth in the region.
Key players: Key players operating in the carboxymethyl cellulose market are Accenture, Deloitte Consulting LLP, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG, McKinsey & Company, Bain & Company, Boston Consulting Group (BCG), T. Kearney, Oliver Wyman, Alvarez & Marsal, GEP, Protiviti, Ayming, Expense Reduction Analysts.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
