The India carboxymethyl cellulose (CMC) market has witnessed substantial growth in the recent past owing to the increasing use of CMC in various industrial applications such as food & beverages, oil drilling, paper, personal care, cosmetics, and others. CMC is synthetically derived from alkali-treated cellulose and finds its extensive usage as a viscosifier, binder, thickener, and stabilizer across diverse industries. Some of its key properties including water solubility, salt tolerance, stabilizing, thickening, and gel forming abilities have made it indispensable in several end-use sectors.
The Carboxymethyl Cellulose (CMC) Market in India is estimated to be valued at US$ 23.1 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the India carboxymethyl cellulose (CMC) market are Paramount Chemical & Acid Corporation, Nilkanth Organics, Madhu Hydrocolloids Pvt. Ltd., Maruti Chemicals, and Bharat Starch and Among Others.
The market is anticipated to witness lucrative opportunities owing to extensive applications in paints & coatings, oil & gas, pharmaceuticals, detergents, and other personal care products. Stringent government regulations regarding the usage of synthetic polymers are further expected to drive the demand.
Major market players are investing heavily in capacity expansion projects and adopting strategies such as mergers & acquisitions to strengthen their market footprint globally and leverage the high-growth potential in the developing markets of Asia Pacific and Latin America.
Market Drivers
The wide range of industrial applications of CMC across diverse sectors such as food & beverages, oil drilling, paper, personal care, and others is the major factor driving the growth of the India CMC market. Factors such as rising construction activities, growth in personal care industry and changing consumer lifestyles and preferences are further providing a fillip to market growth. Apart from this, increasing per capita income and changing dietary habits are augmenting the demand for CMC from India’s flourishing food processing industry.
PEST Analysis
Political: The government has set laws and regulations related to environmental protection and industry standards for manufacturing and production processes. It has also supported the industrial growth through policies and initiatives.
Economic: The overall economy has seen steady growth over recent years leading to rising disposable incomes and industrial growth. This has positively influenced demand across end use industries.
Social: Changing lifestyles and consumption patterns have led to increased demand for personal care and food & beverage products requiring CMC as an ingredient. Greater health and wellness awareness also contributes to the market growth.
Technological: New production methods allow for superior quality products at lower costs. Advances in functional ingredients help widen applications and drive replacement of conventional alternatives. Continuous research on new applications supports market expansion.
India is a major geographical region in terms of value where the market is concentrated given its large population size, industrial base and growing economy. Some key states driving maximum demand include Maharashtra, Gujarat, Tamil Nadu and Delhi-NCR.
The Southeast Asian countries represent the fastest growing region for the India CMC market led by Vietnam, Indonesia, Thailand and Malaysia. This can be attributed to their rapidly developing industries, rising incomes, changing diets and growing adoption of packaged and processed foods.
What Are The Key Data Covered In This India Carboxymethyl Cellulose (CMC) Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the India Carboxymethyl Cellulose (CMC)’s growth between 2024 and 2031.
:- Accurate calculation of the size of the India Carboxymethyl Cellulose (CMC) and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- India Carboxymethyl Cellulose (CMC) Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of India Carboxymethyl Cellulose (CMC) vendors
FAQ’s
Q.1 What are the main factors influencing the India Carboxymethyl Cellulose (CMC)?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top India Carboxymethyl Cellulose (CMC) companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the India Carboxymethyl Cellulose (CMC)’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile