Market Segmentation
The global carboxymethyl cellulose market has been segmented on the basis of application and region.
On the basis of application, the market has been further divided into food & beverage, oil & gas, paints and adhesives, paper processing, cosmetics and personal care, pharmaceuticals, detergents, and others.
Regional Analysis
Based on region, the global carboxymethyl cellulose market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific was the dominant carboxymethyl cellulose market with more than a 40% share in 2017. This can primarily be attributed to the growing demand from the well-established pharmaceutical and personal care industries in this region. Favorable government policies pertaining to food processing is likely to boost the growth of the market in this region. The major markets in this region are India, Japan, South Korea, and China on account of the presence of major end-use industries.
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The North American market was the second largest in terms of market size, with the US as the largest market in the region. This can be attributed to the high demand for CMC from the growing food & beverage and chemicals industries. Europe is another important region in the global carboxymethyl cellulose market. In 2017, the European market held a comparatively smaller share of the global market. The UK, Germany, Italy, France, and Belgium are the major contributors to the regional market owing to the increasing demand of carboxymethyl cellulose from end-use industries such as food & beverage and paper processing. The markets in Latin America and the Middle East & Africa are expected to gain significance during the forecast period due to the vast investment potential and growth opportunities in end-use industries such as oil & gas and paper processing.
Competitive Analysis
The key players in the global carboxymethyl cellulose market are Akzo Nobel N.V. (Netherlands), The Dow Chemical Company (US), Ashland (US), CP Kelco (US), Química Amtex, S.A. De C.V. (Mexico), DKS Co. Ltd. (Japan), Lamberti S.p.A. (Italy), NIPPON PAPER INDUSTRIES CO., LTD. (Japan), DAICEL FINECHEM LTD. (Japan), and QINGDAO SINOCMC CHEMICAL CO., LTD. (China).
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