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Guar Gum Market by Function, Application, Grade, and Region - Global Forecast to 2022

Guar Gum Market: Global Forecast until 2022

  • June 2017
  • 165 pages
  • ID: 4960852
In this report:
According to the annual report released by CNPC Economics & Technology Research Institute (CNPC ETRI), in 2015, oil consumption in China reached ##.## million barrels of oil per day, which was ##.##% higher than in the previous year.
Europe is expected to be the fastest-growing market for guar gum as a binding agent, at a CAGR of ##.##% during the forecast period, to reach a volume of ##.## KT by 2022.


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"The guar gum market forecasted to grow at a CAGR (Compound annual growth rate) of 7.90 percent"

The guar gum market is estimated to rise at a compound annual growth rate of 7.90 percent from 2017 to attain $1115.80M by 2022. The market demand for guar gum is estimated to be on the growth, owing to Elements such as the booming oil & gas market, growing demand for convenience and processed food, and increase in innumerable applications including mining, explosives, pharmaceutical, cosmetic, and paper sectors, due to their multi-functional properties. Increase in shale gas production and growing demand for frozen and dairy food products, are fueling the rise of guar gum demand. Nevertheless, the industry for guar gum is anticipated to fluctuate due to its high dependency on rainfall and the crude oil market. Also, the development of substitutes including xanthan gum and locust gums can pose as a restraint for the market increase.

"Oil & gas segment, by application, is forecasted to be the quickest-increasing in the guar gum market"

In terms of both value and quantity, the oil & gas segment is expected to grow at the maximal rate between 2017 and 2022. Due to functional properties including friction reduction, thickening, gelling, and high viscosity, guar gum is widely used in oil well drilling, geological drilling, and water drilling activities. The increase in oil drilling and oil recovery activities in countries including Saudi Arabia, Iran, Iraq, the United States, Canada (CA), and Argentina (AR) is anticipated to growth the industry demand for guar gum in the next years.

"North America (NA) is intended to be the quickest-rising area in the sector."

In the overall guar gum market, North America continent is forecasted to be the quickest-increasing area, in terms of value importance and quantity, between 2017 and 2022. This area comprises developed economies including the U.S., Canada (CA), and Mexico (MX), which occupies a significant share in the overall guar gum market. Big volumes of guar gum imported by the U.S.A and Canada (CA), for the oil & gas sector, is the main factor providing to the dominance and quick rise of North America in the overall guar gum market.

The growing shale gas market along the growth in consumer demand for processed & convenience foods in the North American and European regions, drive the demand of the guar gum. Application of guar gum in multiple industries including mining, explosives, paper manufacturing, textile, firefighting, tobacco, and photography due to its multifunctional properties, is another factor providing to the growing demand for guar gum from these areas.

Distribution of primaries:

- By Company category: Tier 1 - 50 %, Tier 2 - 20.0 percent, and Tier 3 - 30.0 percent

- By Description: C-suite - 40.0 percent, D-level - 30.0 percent, and Others - 30.0 percent

- By area: North america (NA) - 20.0 percent, Europe - 17.0 percent, Asia-Pacific - 48.0 percent, and rest of the world - 15.0 percent

The overall market for guar gum is leaded by, is monopolized by top players including Vikas WSP Limited, Hindustan Gums & Chemicals Ltd., India Glycols Limited, Rama Gum Industries Ltd., Jai Bharat Gums & Chemicals Ltd., Dabur India Ltd., Neelkanth Polymers, Guangrao Liuhe Chemicals Co. Ltd., Lucid Group, Global Gums & Chemicals Pvt. Ltd., Ashland Specialty Ingredients, Ingredion, Inc., Altrafine Gums, Ruchi Soya Industries Ltd., and Supreme Gums Pvt. Ltd..

Segment Research

The guar gum market has been split on the basis of grade, application, function, food & beverage application, and area. In terms of insights, this market research has emphasized several levels of analyses - industry, market share research of top players, and company descriptions, which together comprise and examine the basic overviews on the competitive landscape, emerging & high-growth segments of the overall guar gum market, high-growth areas, territories, and their specific regulatory policies, government actions, drivers, market restraints, alternatives, and opportunities.

Why acquiring this study can help you:

• To get an overview of the overall guar gum market

• To get an overview of the main actors of the guar gum sector

• To benefit insights of the main regions in which the guar gum market is increasing

• To benefit knowledge of the increase of different grades of guar gum

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