Categories: Chemicals

Carboxymethylcellulose (CMC) Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Carboxymethylcellulose (CMC) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Carboxymethylcellulose (CMC) Global Market Report 2024, The carboxymethylcellulose (cmc) market size has grown strongly in recent years. It will grow from $1.67 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to emergence of biomedical applications, demand in food and beverage industry, growth in pharmaceutical sector, expanding cosmetics and personal care industry, textile and paper industries.

The carboxymethylcellulose (cmc) market size is expected to see steady growth in the next few years. It will grow to $2.13 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to water treatment solutions, innovations in printing industry, rise in adhesive formulations, construction material needs, oil and gas sector requirements. Major trends in the forecast period include demand for natural and clean label ingredients, focus on health and wellness products, eco-friendly cosmetics and personal care, advancements in textile and paper industries, enhanced drilling fluids in oil and gas.

The increase in pharmaceutical production is expected to propel the growth of the carboxymethylcellulose (CMC) market going forward. Pharmaceutical production refers to the process of manufacturing pharmaceutical products, including medications, vaccines, and other medical treatments. Carboxymethylcellulose increases viscosity and stabilizes emulsions in oral, ophthalmic, injectable, and topical pharmaceutical formulations. For instance, in 2022, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA) 2021 Highlights, a Belgium-based trade association, pharmaceutical production increased by 4.64% to $3,29,184 million in 2021. Further, North America accounted for 49.1 of global pharmaceutical sales, and Europe accounted for 23.4 in 2021. Therefore, the increase in pharmaceutical production is driving the growth of the carboxymethylcellulose (CMC) market.

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The carboxymethylcellulose (cmc) market covered in this report is segmented –

1) By Grade: High Purity, Industrial, Technical

2) By Property: Thickening Agent, Stabilizer, Binder, Anti-Repository Agent, Lubricator, Emulsifier, Excipient

3) By Application: Food And Beverages, Oil And Gas, Cosmetics, Pharmaceuticals, Detergents, Paper Processing

Major companies operating in the carboxymethylcellulose market are developing innovative products such as cosmetic products to meet larger customer bases, more sales, and increase revenue. Cosmetic products refer to substances or preparations intended to be applied to the external parts of the human body, including the skin, hair, nails, lips, and oral cavity, to enhance or preserve beauty, alter the appearance, or cleanse and care for the body. For instance, in November 2021, Maypharm Co. Ltd., a South Korea-based provider of cosmetological solutions, launched PLA meNnus (200mg/vial). MENNUS stands out as a distinctive fusion of mesotherapy and innovative biotechnology specifically formulated for the professional cosmetics market. Its primary efficacy is derived from the synergistic combination of Poly D, L-lactic Acid (PLA), and Carboxymethyl Cellulose (CMC). This unique blend ensures an extended collagen regeneration period lasting up to 18-24 months. The immediate volumizing effect is achieved through CMC gel, which promptly addresses dermal volume deficiencies, facilitating PLA in stimulating the creation of new cells for enhanced collagen production. In essence, the exceptional feature of PLA in MENNUS lies in its ability to deliver prolonged and heightened collagen regeneration, setting it apart in the realm of professional skincare.

The carboxymethylcellulose (cmc) market report table of contents includes: