Carboxymethyl cellulose is simply cellulose that has been extracted from pineapples, spun sugarcane, hemp, hemp seed, alfalfa, and corn. This material is generally considered to be highly refined (or 'black') in nature but is available in a wide range of natural grades including white, yellowish, brown, and transparent. High-grade cellulose can be used for a variety of applications, including paper, plastic, and rubber products. As its name suggests, cellulose forms when cellulose pieces are broken down without heating. In addition to being used in the production of such household items as paper, mineral wool, and cotton towels, Carboxymethyl cellulose is found in a wide range of cosmetics, pharmaceuticals, lubricants, paints, varnishes, sealants, water treatment systems, pharmaceuticals, paper and ink, and cosmetic packaging.
Increasing number of oil drilling activities is expected to drive growth of the global carboxymethyl cellulose market. Many oil and gas corporations worldwide are focused on oil drilling activities with rising investment in the oil & gas sector. For instance, in December 2020, ExxonMobil Corporation and PETRONAS discovered hydrocarbons at Sloanea-1 exploration well on Block 52 offshore Suriname. Furthermore, in October 2020, ExxonMobil made its final investment of US$ 9 billion in Payara field offshore development in Guyana. Carboxymethyl cellulose plays a major role in oil & gas drilling activities. It works as viscosifier, rheology controller, and filtration reducer in drilling fluid. Thus, these factors are expected to drive growth of the global carboxymethyl cellulose market. Furthermore, growing demand for processed food is expected to propel the global carboxymethyl cellulose market in the near future. Sodium carboxymethyl cellulose is used as a thickener in ice cream, milk, and baked goods.
However, the emergence of alternatives in various applications and stringent regulatory framework on the use of carboxymethyl cellulose in the food & beverage industry is expected to hamper the global carboxymethyl cellulose market growth. Among regions, Asia Pacific is expected to witness significant growth in the global carboxymethyl cellulose market in the near future. This is owing to high consumption of oil & gas, cosmetics, and pharmaceuticals across the region. Furthermore, Europe is expected register a robust growth rate over the forecast period, owing to growing consumption of dairy products, baked goods, and confectionaries in the region.
Key companies involved in the global carboxymethyl cellulose market are Akzo Nobel N.V., Nouryon, Ashland Inc., Yixing Tongda Chemical Co. Ltd., CP Kelco, SINOCMC Co. Ltd., Daicel Corporation, Sichem LLC, The Dow Chemical Company, Penn Carbose Inc., and Lamberti S.p. A.
For instance, in July 2020, Nouryon, a specialty chemicals leader, acquired J.M. Huber Corp.’s carboxymethyl cellulose (CMC) business.
No comments:
Post a Comment