Electronics adhesives are essential components in assembling and securing electronic devices. These specialized adhesives offer strong bonds, thermal conductivity, and protection against moisture and vibration. From semiconductors to circuit boards, electronic adhesives ensure optimal performance, reliability, and longevity. As technology advances, the demand for precise and adaptable adhesives grows, shaping the landscape of modern electronics manufacturing and enabling innovations in various industries.
The global sales of carboxymethyl cellulose increased at an average annual growth rate of around 4.5% over the historical period from 2018 to 2022. The market value is predicted to increase to US$ 1,923.2 million in the current year, 2023, exhibiting a strong growth trend. The net worth of the total quantity of carboxymethyl cellulose sold globally in 2022 was valued at over US$ 1,835.10 million.
The increased usage of carboxymethyl cellulose across several industries, including food & beverage, pharmaceutical, paints & coatings, and textiles, showed strong growth in its demand. So, the global market has the potential to record a stable CAGR of 4.8% between 2023 and 2033, according to FMI. As this pattern is anticipated to continue in the upcoming years, the overall market value could reach around US$ 3,073.5 million by 2033.
Carboxymethyl cellulose serves as a stabilizer, thickener, and emulsifier in various food and beverage products, such as dairy products, sauces, and dressings. The pharmaceutical industry is also using it as a disintegrant and binder in tablet formulations to improve medication delivery and effectiveness. The demand for carboxymethyl cellulose in the food & beverage and pharmaceutical industries has been pushed by the rising demand for processed and convenience foods.
Carboxymethyl cellulose is used in the paint and coatings sector as a rheology modifier to enhance the consistency and performance of the end product. In addition to this, it also serves as a sizing agent in the textile industry, giving materials strength and stability throughout production. The rise of the textile sector and the growing demand for paints and coatings is anticipated to boost carboxymethyl cellulose sales further.
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Key Takeaways from the Global Carboxymethyl Cellulose Market Study Report by FMI
- By the end of 2022, the United States dominated the global market by acquiring almost 12% of the total revenue share. The companies based in the country are in a good position to benefit by seizing chances to broaden their customer base in foreign countries.
- In Europe, Germany was the leading market for carboxymethyl cellulose until 2022, with a global revenue share of 5.6% that year.
- The demand for carboxymethyl cellulose is expanding fast in the Asia Pacific region as a result of rising industrialization in many countries. For instance, China and India are poised to witness year-on-year growth rates of 6.8% and 6.5% from 2023 to 2033 respectively.
Competitive Landscape for the Carboxymethyl Cellulose Market Players
The Top 20 Key Players are
- CP Kelco,
- The Dow Chemical Company
- Ashland Global Holding Inc.,
- Anqiu Eagle Cellulose Co., Ltd,
- Wealthy Chemical Industry (Suzhou) Co., Ltd.
- Shanghai Shenguang Edible Chemicals Co., Ltd.
- Akzo Nobel N.V.
- Nippon Paper Industries Co. Ltd.
- Lamberti S.p.A.
- Xuzhou Liyuan Cellulose Technology Co. Ltd.
- Daicel Finechem Ltd
- Química Amtex, S.A. de C.V.
- DKS Co. Ltd
- Ugur Seluloz Kimya AS
- Mikro Technik GmbH
- Patel Industries
- Stepan Company
- Delanta SA
- Zao Karbokam
- Gotoku Chemical Company Ltd.
Regional industries that manufacture and provide carboxymethyl cellulose are seeing much better commercial opportunities as demand for the product is spreading out in emerging economies. New market players are getting a competitive edge in global and regional marketplaces by providing custom solutions catering to various industrial requirements. However, the fluctuation in raw material prices, which can affect manufacturing costs and overall profitability, is the main challenge the regional industries face.
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Carboxymethyl Cellulose Industry Survey by Category
By Grade:
- High Purity Grade (99.5%+)
- Technical Grade (90 to 99.5%)
- Industrial Grade (50 to 90%)
By Application:
- Food & Beverage
- Detergent
- Paper & Pulp
- Oil Field Drilling Fluid
- Cosmetic & Pharmaceutical
- Paint & Coating
- Others (Construction, Mining, Textile, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa
About Future Market Insights, Inc. (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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