Carboxymethyl Cellulose Market Projected to Reach $5 Billion by 2030

According to a new report by MarketsandMarkets, the global carboxymethyl cellulose (CMC) market is projected to reach $5.04 billion by 2030, growing at a CAGR of 5.6% from 2022 to 2030. CMC is a widely used additive and thickening agent derived from cellulose. It finds applications in various industries including industrial, pharmaceutical, personal care, and food & beverage. The growing demand for CMC across these sectors is a key factor driving market expansion. 'The increasing usage of CMC in personal care products, pharmaceuticals, and food & beverages is expected to be the major driver for the growth of the CMC market,' the report states. 'CMC is used as a thickening, binding, and stabilizing agent in various applications.' The Asia Pacific region is anticipated to be the fastest-growing market for CMC during the forecast period, owing to the rising personal care and food & beverage industries in countries like China and India. Europe and North America are also expected to see significant demand for CMC going forward. Leading players in the CMC market include Ashland, DKS, Daicel, Nippon Paper Industries, and CP Kelco, among others. These companies are focused on expanding production capacity and developing innovative CMC products to meet the evolving needs of end-use industries.