Key Drivers of Xanthan Gum Market
- According to the annual statistics of OPEC, 1,214.21 billionbarrels of proven crude oil reserves are currently available on a global scale. Of these, more than 82% reserves are under the control of OPEC, with the bulk of OPEC oil reserves in the Middle East amounting to 36% of the OPEC total.
- Xanthan gum is a high-efficiency, high-quality, and eco-friendly oil drilling mud additive. It is extremely resistant to high temperatures (≥94°C), acids, alkalis, and salts.
- Therefore, increase in the demand for crude oil across the world is propelling the demand for xanthan gum.
- The global xanthan gum marketwas valued at ~US$ 915 Mn in 2018, and is anticipated to expand at a CAGR of ~6% from 2019 to 2027.
Newly Discovered and Potential Oil & Gas Reserves to Offer Lucrative Opportunities
- Increase in the demand for oil & gas in developing economies such as China, India, and Brazil is a major factor driving the rate of drilling activities. A large numbers of petroleum companies are continuously exploring new oil & gas reserves.
- New crude oil & natural gas discoveries and high-potential reserves create opportunities for companies operating in the global xanthan gum market. These new oil & gas discoveries require xanthan gum as a mud treatment agent.
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Availability of Inexpensive Substitutes to Hamper Market
- Guar gum is primarily used in ice creams and pastry fillings, while xanthan gum is largely employed in the manufacture of bakery products. Xanthan gum is not suitable for individuals with certain allergies. This is a restraint of the global xanthan gum market.
- Guar gum is one of the important substances used during the oil extraction process in an oilfield. Guar gum is employed as a stabilizing, thickening, and suspending agent in drilling fluids. The unique rheological properties, wide compatibility, and superior anti-oxidation effects of guar gum are likely to hamper the xanthan gum market during the forecast period.
Asia Pacific Dominates Xanthan Gum Market
- Asia Pacific is expected to be a highly attractive region of the xanthan gum market during the forecast period. Rapid growth in the population in Asia Pacific is anticipated to significantly contribute to the global food & beverages industry, thereby propelling the global xanthan gum market. Xanthan gum lends texture to food and beverages.
- The Middle East & Africa contributes the most in terms of refining capacity additions. These new refineries are offering lucrative opportunities to the xanthan gum market. Xanthan gum is widely employed as an additive in oil field drilling applications.
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Food & Beverages Application Holds Major Share of Xanthan Gum Market
- The food & beverages segment accounted for a key share of the global xanthan gum market in 2018. Xanthan gum costs less than guar gum, gum Arabic, and other hydrocolloids. Furthermore, xanthan gum is non-toxic and remains stable at high temperatures and across a wide pH range. It is primarily employed in bakery and dairy products, sauces, and dressings.
- The oil & gas segment is likely to create opportunities for the xanthan gum market. Xanthan gum is used in the hydraulic fracking process in oil & gas drilling. It helps gel up fracking water, making it thicker.
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Varying Market Share of Companies in Xanthan Gum Market
- Prominent players operating in the global xanthan gum market include Fufeng Group Company Limited, CP Kelco, Deosen, JUNGBUNZLAUER SUISSE AG, Dainsco, and MeiHua Holdings, Group Co., Ltd.
- Fufeng Group Company Limited operates five production facilities in China. The company distributes its leading products - monosodium glutamate (MSG) and xanthan gum - across China and in more than 90 countries across the globe.
- CP Kelco offers a variety of xanthan gum products to meet a wide range of specific thickening, stabilization, and suspension formulation goals. The company manufactures specialty hydrocolloids such as xanthan gum, diutan gum, and gellan gum derived from natural raw materials, for industrial and commercial usage. It has manufacturing facilities in the U.S., Germany, China, Brazil, Finland, Denmark, and the Philippines.
- Deosen manufactures and supplies xanthan gum for commercial and industrial applications. It manufactures products in Shandong Province, China, and Inner Mongolia, and distributes them across the globe.
The Xanthan Gum market has been undergoing some remarkable growth dynamics, shaped increasingly by digital technologies and environmental sustainability concerns of product development. Over the decades, the feedstock variability and the onslaught of cheaper substitutes have squeezed in profit margins of the chemical and materials sector. On the other hand, the value chain of several businesses in the Xanthan Gum market has undergone overhaul, increasingly rendering some aspiring players with greater control over the forces and demand. The penetration of Industry 4.0 in in the market has stirred game-changing trends for range of stakeholders in the overall chemicals and materials sector. Manufacturing and production environments of businesses in the Xanthan Gum market are keen on formulating and implementing strategic frameworks that will turn them into digital enterprises.
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Du Pont De Nemours and Company, Fuerst Day Lawson, Fufeng Group Company Ltd., Gum Technology Corporation, Ingredion Incorporated, Jungbunzlauer Suisse AG, Pfizer Inc, Sancho & Lee Co. Ltd. and Solvay.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Xanthan Gum Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/xanthan-gum-market/download-sampleMarket DynamicsGrowing demand from the food & beverage industry, gluten-free food products, change in consumer preferences, and rise in consumption of convenience food are the factor driving the market growth.
Moreover, the growth of the end-user industry such as personal care, pharmaceutical industry across the world is also upsurging the demand.
