Increasing Demand for Prepared and Processed Food Products and Increasing Expenditure on Personal Care Products to Augment Growth of Carboxymethyl Cellulose Market

 

Carboxymethyl Cellulose Market

Cellulose is largely composed of two types of sugars called glucose and galactose, and an abundance of both of these sugars is the primary source of cellular energy for all living things. However, both of these sugars can also be derived from plant material as polysaccharides, and the process of breaking down cellulosic material to release the sugars into a liquid such as celluloid is known as gelatinization. In recent years, the manufacturing of gelatin has improved enormously, and the material has been refined so that it is both highly soluble and odorless. Carboxymethyl cellulose finds application in as a viscosity modifier or thickener. It is also used to stabilize emulsions in various products. 

Today, there are several different methods for producing celluloid but one of the most commonly used is carboxymethyl cellulose gum. The gum is extracted from the cellulosic materials in wood by mechanical or chemical means. Generally, this is done by soaking the wood in a mildly solution, then exposing the solution to high temperatures for a short period of time. The resulting mixture, which is now a gelatinous substance, is then ground into a powder, mixed with water, and further refined. 

Market Dynamics 

Increasing demand for prepared and processed food products is expected to propel growth of the global carboxymethyl cellulose market. For instance, according to the U.S Department of Agriculture, export of prepared food from U.S. increased from US$ 5, 849 million in 2015 to US$ 6,682 million in 2019.

Increasing expenditure on personal care products is expected to offer lucrative growth opportunities for players in the global carboxymethyl cellulose market. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018.   

Moreover, increasing expenditure on household cleaning products is expected to offer lucrative growth opportunities for players in the global carboxymethyl cellulose market. For instance, in December 2020, according to a new survey conducted by Toluna and commissioned by Tide, about two-thirds of the people in the U.S. are concerned about stains this holiday season and over 40% of the people in the U.S. foresee grease and oil as the biggest challenge in preparation for their holiday meal. In fact, nearly 60% say that household cleaning products, such as laundry detergent, will take up more room in their shopping cart this year.

Competitive Analysis  

Major players operating in the carboxymethyl cellulose market include, Akzo Nobel N.V., Ashland Inc., CP Kelco, Daicel Corporation, The Dow Chemical Company, Lamberti S.p.A., Penn Carbose Inc., Sichem LLC, SINCOCMC Co. Ltd, Yixing Tongda Chemical Co. Ltd, and Nouryon

The carboxymethyl cellulose market is witnessing several M&A activities. For instance, in January 2020, Nouryon signed an agreement to acquire the carboxymethyl cellulose business of J.M. Huber Corporation. 

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