The global guar gum
market is likely to surpass US$ 1.3 Bn in revenues by the end of 2026,
according to a new research report by Future Market Insights (FMI). The report
projects the market to grow at a CAGR of 2.8% during the forecast period
2017-2026, with steady demand from end users in Asia Pacific excluding Japan
(APEJ) likely to provide growth opportunities to stakeholders in the market.
Applications in food and beverage industry are likely to create steady demand
during the assessment period.
To offer readers detailed insights on the guar gum market,
the report has segmented the market on the basis of product type, end use
industry, and primary function. In addition to this, the report also offers
region-wise analysis and segmentation, offering readers detailed analysis on
the lucrative and sluggish markets.
On the basis of product type, the key segments include food
grade, fast hydrated gum oil drilling grade, and industrial grade. By end use
industry, the market has been segmented into food and beverages, fracking,
textiles, pharmaceuticals, and other end-use industries. On the basis of
primary function, the key segments include thickener and stabilizer, binding
agent, and other functional properties.
Among the product types, the fast hydrated gum oil drilling
grade segment will continue to remain attractive during the assessment period.
This segment currently accounts for nearly 70% revenue share of the market, and
is likely to remain lucrative throughout the forecast period. The fast hydrated
gum oil drilling grade is likely to surpass US$ 800 Mn in revenues by the end
of the forecast period.
Demand for guar gum is likely to remain robust in the fracking
segment. Currently, fracking accounts for over two-third revenue share of the
market, and it is highly likely that the dominance of this segment will
continue beyond 2017. This segment is projected to grow at a CAGR of 2.4% to
reach a valuation of over US$ 800 Mn by the end of the forecast period.
The use of guar gum has been witnessing an increase owing to
its growing application in the oil & gas industry. However, as the oil and
gas industry is going through a sluggish phase, the demand for guar gum has
declined to an extent. Some of the sluggishness on account of oil & gas is
likely to be compensated by growing demand in the food and beverage industry.
Guar gums find wide-ranging applications in the food & beverage industry,
where it is used as a thickener and stabilizer. Steady demand from the food and
beverage industry is likely to provide an impetus to the growth of the guar gum
market during the assessment period. Growth is likely to remain steady from the
textile and paper sector, however, availability of other feasible alternatives
can stymie demand to an extent.
Although still at a nascent stage, demand for guar gum in
managing health disorders such as diabetes and cardiac elements presents an
opportunity for manufacturers. Further advancement in the application of guar
gum in the healthcare sector can open up new avenues of growth for guar gum
manufacturers during the assessment period. Some of the leading players in the
market include Lucid Group, Jai Bharat Gum, Hindustan Gums, Vikas WSP, Shree
Ram Gum, Cargill Inc, Supreme Gums Pvt. Ltd, Ashland Inc., India Glycols Ltd,
Rama industries and Lamberti.
Region
- North
America
- Latin
America
- Europe
- Japan
- APEJ
- MEA
Product Type
- Food
Grade
- Fast
Hydrated Gum Oil Drilling Grade
- Industrial
Grade
End Use Industry
- Food
and Beverages
- Fracking
- Textiles
- Pharmaceuticals
- Other
End Use Industries
Primary Function
- Thickener
and Stabilizer
- Binding
Agent
- Other
Functional Properties
Read Full Report: https://www.futuremarketinsights.com/reports/guar-gum-market