Market Overview
Carboxymethyl cellulose (CMC) is a cellulose derivative with carboxymethyl groups substituted for some of the hydroxyl groups of the glucose units that make up the cellulose backbone. It has a wide range of uses including as a thickening agent, emulsifier, binder, and texturing agent. CMC improves paper strength and also enhances its gloss and printability. It is used in various industries such as construction, oil drilling, food and beverages, paints and coatings, personal care, pharmaceuticals and many others. The increasing demand from end-use industries due to rapid industrialization and urbanization in India is expected to drive the growth of the CMC market.
The India Carboxymethyl Cellulose (CMC) Marketis 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) are Paramount Chemical & Acid Corporation, Nilkanth Organics, Madhu Hydrocolloids Pvt. Ltd., Maruti Chemicals, Bharat Starch and Among Others. The growing applications of CMC in paper, oil drilling, construction, paints, personal care and other industries are expected to boost the demand for CMC in India. Major players are focusing on enhancing their production capacities and exploring new application areas to leverage lucrative growth opportunities. The growing consumption of processed food and increasing personal care spending are also fueling the global expansion of the India CMC market.
Market Drivers
The growing paper industry in India is one of the major drivers of the CMC market. India has seen rapid growth in newspaper and magazine printing over the years. CMC helps enhance paper strength and quality which has fuelled its increased consumption in the paper industry. Additionally, rapid urbanization and industrialization are positively impacting various end-use industries like construction, oil drilling, textiles, personal care where CMC has wide applications. This growing demand from end-use sectors is expected to propel the India CMC market growth over the forecast period.
Impact Of Geopolitical Situation On The Growth Of India Carboxymethyl Cellulose (CMC) Market:
The current geopolitical tensions and economic uncertainties are impacting the growth of India Carboxymethyl Cellulose (CMC) Market. With rising conflicts between nations and political instability in various parts of the world, international trade and exports from India have been adversely affected. This is a challenge for the market as it is dependent on imports of raw materials from other countries. Any disruptions in global supply chains or hampered logistics due to geo-political issues can negatively impact the availability and pricing of key inputs. Moreover, economic slowdowns in major importing nations translates to lower demand for Indian exports. Considering the uncertain global economic outlook, companies must focus on diversifying their supplier and customer base to mitigate supply and demand risks. Over-dependence on limited geographical regions or countries needs to be avoided. Investment in developing alternative sourcing locations and target emerging export markets can help cushion the market from external shocks.
In terms of value, North India is currently the largest regional market for CMC in India accounting for over 30% share. States such as Uttar Pradesh, Punjab and Haryana have a large presence of manufacturing units utilizing CMC in various end-use industries including food & beverages, oil & gas and pharmaceuticals. East India is another major revenue generating region led by states of West Bengal, Odisha and Bihar with a market share of approximately 25%. Meanwhile, South India is identified as the fastest growing regional market with year on year growth rate surpassing 15% over last 5 years. States like Tamil Nadu, Telangana and Karnataka are major industrial hubs boosting demand for CMC.
Fastest Growing Market For India Carboxymethyl Cellulose (CMC) Market:
In terms of value, North India is currently the largest regional market for CMC in India accounting for over 30% share. States such as Uttar Pradesh, Punjab and Haryana have a large presence of manufacturing units utilizing CMC in various end-use industries including food & beverages, oil & gas and pharmaceuticals. The availability of raw materials and favorable business climate has provided an impetus to industrialization in these states over years. Additionally, strong agriculture sector and presence of large oil refineries in the region propels product demand.
East India is another major revenue generating region for the market led by states of West Bengal, Odisha and Bihar with a market share of approximately 25%. West Bengal especially has emerged as a major industrial hub with growth in sectors like paints & coatings, construction materials, textiles and plastics. Odisha too is witnessing rising investments in areas such as steel, aluminum and petrochemicals augmenting product consumption.
Meanwhile, South India is identified as the fastest growing regional market for India CMC with year on year growth rate surpassing 15% over last 5 years. States like Tamil Nadu, Telangana and Karnataka are major industrial hubs boosting demand. Tamil Nadu accounts for a significant portion of India’s automobile industry while Karnataka is a leader in petrochemicals, aerospace and defense production. Such industries proliferating in these states accelerate CMC adoption, thus South India stands out as the fastest expanding regional market.
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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. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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