Carboxymethyl Cellulose Market Trends

Growth Drivers

• Growing Production of Oil and Gas– Global crude oil output climbed by around 5% in 2022, much above growth in 2021 which was nearly 1.6%. Carboxymethyl cellulose is a fluid loss control compound that produces a thin, impervious filter cake in the wellbore walls, decreasing fluid loss during drilling.
• Rising Use of Paper in the Packaging Industry– In 2021, the global production of packaging paper and paperboard reached around 264 million metric tonnes. Carboxymethyl cellulose is used to improve the characteristics of paper as a coating or surface treatment in the packaging industry. These packagings are then applied in various sectors such as healthcare packaging.
• Increasing Use of Personal Care Products- Lately, usage of products such as facewashes, moisturizers, exfoliators, and scrubs has increased, around 40% of facial skincare customers across the world use these products more often.  CMC is frequently used to improve the consistency and texture of moisturizers, creams, lotions, and gels.

Challenges

• Presence of Other Alternatives in the Market- Stabilizers and food additives with similar properties gives tough competition to carboxymethyl cellulose. Manufacturers and formulators sometimes also consider these alternatives or prefer the cheaper ones which impacts the market growth.
• Changing Prices of the Raw Materials
• Slow Process of Research and Development