Pharmaceutical Grade Carboxymethyl Cellulose is the fastest growing segment fueling growth of the Carboxymethyl Cellulose Market

 

Carboxymethyl Cellulose Market

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 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Carboxymethyl cellulose (CMC) is a cellulose derivative with carboxymethyl groups bound to some of the hydroxyl groups of the glucopyranose monomers that make up the cellulose backbone. It is used as an emulsifier, stabilizer and thickening agent in foods, cosmetics, detergents and other industrial applications due to its viscous and gelling properties when in solution.

 

Market key trends:

One of the key trends driving growth in the CMC market is the increasing demand from the pharmaceutical industry. Pharmaceutical grade CMC is widely used as an excipient in pharmaceutical formulations due to its beneficial properties such as compressibility, compactibility, and binding ability. It is commonly used as a disintegrant and binder in drug tablets and capsules to help maintain the shape and structural integrity of tablets. The rising generic and OTC drug markets are fueling the demand for pharmaceutical grade CMC from drug manufacturers. Furthermore, its widespread application as a viscosity modifier in liquid formulations, stabilizer for suspensions and emulsions, and coating material also contributes to its increasing use in the pharmaceutical sector.

Segment Analysis

The carboxymethyl cellulose market is segmented by type, grade, application, and region. Based on type, the market is bifurcated into sodium carboxymethyl cellulose and carboxymethyl cellulose. Among these, the sodium carboxymethyl cellulose segment accounted for the largest market share in 2022 owing to its wide application in food & beverages, personal care, and pharmaceutical industries. By grade, the market is categorized into high purity, industrial, and food. The food grade segment dominated the market in 2022 as CMC is used extensively in food stabilizers, thickeners, and gelling agents. In terms of application, the market is divided into food & beverages, petroleum, personal care, paints & adhesives, pharmaceutical, industrial, paper, and others. The food & beverages segment dominates the market due to extensive use of CMC in various food applications.

 

Key Takeaways

The Global Carboxymethyl Cellulose Market Share is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing demand from food & beverages industry. The Asia Pacific region is expected to be the fastest growing as well as dominating region in the carboxymethyl cellulose market. China, India, Japan, and South Korea are expected to drive high demand owing to growing population and changing lifestyle in these countries. Key players operating in the carboxymethyl cellulose market are 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 market size for 2023 is expected to reach US$ 1201.83 Mn. The key players are focussing on capacity expansion and new product development to strengthen their foothold in the market.

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https://www.dailyprbulletin.com/carboxymethyl-cellulose-market-size-share-growth-outlook-2023/

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