Guar 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.
