Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Guar Gum Market size was valued at USD 1.33 billion in 2024 and is likely to cross USD 3.24 billion by 2037, expanding at more than 7.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of guar gum is estimated at USD 1.41 billion.
The growth of the market can be attributed primarily to the growing demand for guar gum from the oil & gas industry as its derivatives are extensively used across a wide array of applications, especially in green corrosion inhibitors, drilling fluid formulations, dispersants, and others.
Industrial grade guar gum is used as a thickening agent in the hydraulic fracturing for oil recovery and oil stimulation. Guar gum renders the hydraulic fracturing water viscous and thus make it capable of carrying and suspending proppant deep into the fractures created via the water pressure. In addition, the high viscosity of this biopolymer molecule also greatly reduces the friction and thereby augment water pressure. Moreover, the development of hydrophobically modified guar gum derivative (HMGG) for fracturing fluid formulations is also expected to result in the increased application of guar gum in oil and gas industry over the forthcoming years. The guar gum market is further projected to grow on account of the growing production of crude oil worldwide and therefore the need for guar gum in the oil & gas industry. According to the statistics by the United States Energy Information Administration (EIA), the annual production of crude oil and liquid fuel around the world reached 100.660 Million barrels per day in the year 2019 and is further projected to reach 101.822 Million barrels per day by the end of 2022.
Further, growing adoption of guar gum in the pharmaceutical industry as a natural polymer, along with the rising popularity of convenience food products, such as soups, bread, and others, where guar gum is used a natural hydrocolloid, are some of the additional factors anticipated to drive the guar gum market growth.
Guar Gum Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Demand for Guar Gum from the Oil & Gas Industry
- Increasing Adoption of Guar Gum in the Pharmaceutical Industry
Challenges
- Volatility in the Price of Raw Materials
Guar Gum Segmentation
The global guar gum market is segmented by grade into food, pharmaceutical, and industrial. Out of these segments, the industrial grade segment is projected to hold the largest share of the market during the forecast period and is further anticipated to touch USD 605.3 Million by the end of 2028. The segment is also anticipated to grow with the highest CAGR of 7.0% during the forecast period. Industrial grade guar gum is used in a wide array of industries namely oil & gas, explosives manufacturing, paper, textile, and others. It is used as a sizing agent, thickening agent, wet-end additive, and gelling agent in these industrial applications. Industrial grade guar gum powder is available in a broad range of particle size and viscosity. The guar gum market is further segmented based on application into thickening, gelling, binding, friction reducing, and others. Amongst these segments, the thickening segment is anticipated to grow with the highest CAGR of 7.1% during the forecast period. Based on end user, the market is segmented into oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals, personal care & cosmetics, and others. Out of these, the pharmaceuticals segment is projected to grow with the highest CAGR of 7.2% during the forecast period.
Our in-depth analysis of the global market includes the following segments:
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Customize this ReportGuar Gum Industry - Regional Synopsis
Regionally, the global guar gum market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is predicted to dominate majority revenue share of 52% by 2037. The market in the region is also anticipated to grow with the highest CAGR of 7.7% during the forecast period. Further, in the year 2028, the market in the region is projected to hold the largest share of 53.09%. The growth of the market in the region can be attributed to the increase in adoption of guar gum for hydraulic fracturing in the oil and gas industry. Amongst the countries in the region, the market in the United States held the largest share during the forecast period. Increasing number of shale oil reserves in the country, and the increasing imports of guar gum in the country from Asian countries are some of the major factors projected to drive the guar gum market growth. The guar gum market in the United States is further projected to grow with the highest CAGR of 7.8% during the forecast period.
Companies Dominating the Guar Gum Landscape
- Ingredion Incorporated,
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Ashland Inc.,
- Shree Ram Industries,
- Hindustan Gum & Chemicals Ltd.,
- Vikas WSP Ltd.,
- International Flavors & Fragrances, Inc.,
- Cargill, Incorporated,
- Ruchi Soya Industries Limited,
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global guar gum market that are included in our report are
In the News
Author Credits: Parul Atri
- Report ID: 3177
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
