Market Size of Carboxymethyl Cellulose (CMC) Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.50 Billion |
Market Size (2029) | USD 1.87 Billion |
CAGR (2024 - 2029) | 4.64 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Carboxymethyl Cellulose Market Analysis
The Carboxymethyl Cellulose Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 1.87 billion by 2029, growing at a CAGR of 4.64% during the forecast period (2024-2029).
The COVID-19 pandemic harmed the carboxymethyl cellulose (CMC) sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business is recovering since 2021 and is expected to rise significantly in the coming years.
- Increasing adoption of processed and convenient food and a surge in oil drilling activities are some factors driving the studied market's growth.
- Conversely, the availability of substitutes is expected to hinder the studied market's growth.
- Nevertheless, significant growth in the pharmaceutical sector is likely to create lucrative growth opportunities over the forecast period.
- The Asia-Pacific region is expected to dominate the market and will likely witness the highest CAGR during the forecast period.
Carboxymethyl Cellulose Industry Segmentation
Carboxymethyl cellulose (CMC) belongs to the polysaccharide family. It is an anionic derivative of cellulose, typically synthesized by the reaction of plant-derived cellulose with monochloroacetic acid or its sodium salt in an organic solvent under alkaline conditions. The carboxymethyl cellulose (CMC) market is segmented based on application and geography. The market is segmented by application into food and beverage, oil and gas, cosmetics and pharmaceuticals, detergents, paper processing, and other applications (mining, paints and coatings, construction, textile processing, adhesives, and ceramics). The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts are based on revenue (USD) for all the above segments.
Application | |
Food and Beverages | |
Oil and Gas | |
Cosmetics and Pharmaceuticals | |
Detergents | |
Paper Processing | |
Other Applications (Mining, Paints and Coatings, Construction, Textile Processing, Adhesives, Ceramics) |
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Carboxymethyl Cellulose (CMC) Market Size Summary
The Carboxymethyl Cellulose (CMC) market is poised for steady growth, driven by increasing demand in various sectors such as food and beverages, pharmaceuticals, and cosmetics. The market, which experienced setbacks due to the COVID-19 pandemic, is on a recovery path and is expected to expand significantly over the forecast period. The food and beverage sector, in particular, is a major contributor to this growth, with CMC being widely used as a viscosity modifier, stabilizer, and emulsifier in products like ice creams, milk products, and gluten-free bakery items. The rising consumption of processed foods and the shift towards convenient food options among the working population further bolster the demand for CMC. However, the availability of substitutes poses a challenge to market growth, even as the pharmaceutical sector presents lucrative opportunities.
The Asia-Pacific region is anticipated to maintain its dominance in the global CMC market, driven by increasing demand in food and beverage, cosmetics, and pharmaceutical applications. The region's growth is supported by rising disposable incomes and urbanization, particularly in countries like China and India, which are experiencing a surge in demand for premium personal care products and pharmaceuticals. The expansion of the pharmaceutical industry in India, along with the growing export of medical goods, is expected to create additional opportunities for CMC. The fragmented nature of the market sees major players like DuPont, Nouryon, and Nippon Paper Industries Co., Ltd. actively expanding their operations, as evidenced by recent developments such as Nippon Paper Industries' establishment of a manufacturing subsidiary in Hungary.
Carboxymethyl Cellulose (CMC) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Adoption of Processed and Convenient Food
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1.1.2 Surge in Oil Drilling Activities
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Availability of Substitutes in the Market
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Application
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2.1.1 Food and Beverages
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2.1.2 Oil and Gas
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2.1.3 Cosmetics and Pharmaceuticals
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2.1.4 Detergents
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2.1.5 Paper Processing
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2.1.6 Other Applications (Mining, Paints and Coatings, Construction, Textile Processing, Adhesives, Ceramics)
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Carboxymethyl Cellulose (CMC) Market Size FAQs
How big is the Carboxymethyl Cellulose (CMC) Market?
The Carboxymethyl Cellulose (CMC) Market size is expected to reach USD 1.50 billion in 2024 and grow at a CAGR of 4.64% to reach USD 1.87 billion by 2029.
What is the current Carboxymethyl Cellulose (CMC) Market size?
In 2024, the Carboxymethyl Cellulose (CMC) Market size is expected to reach USD 1.50 billion.