New York, March 19, 2020 (GLOBE NEWSWIRE) -- The global Guar Gum market is expected to reach USD 886.6 Million by 2027, according to a new report by Reports and Data. The growth of the market is owing to the increasing application of guar gum amongst the end-use industries.
Guar gum finds widespread applications in medicinal formulations, owing to its characteristic properties and non-toxic nature. It may be altered to cater to the growing demands in both the biomedical and pharmaceutical sectors. It is extensively used as a rate-controlling agent in developing innovative drug delivery systems. Also, guar gum is used as a laxative for the treatment of diarrhea, obesity, irritable bowel syndrome, and diabetes.
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Guar gum is in high demand from the oil & gas industries and finds usage in water-based and brine-based drilling fluids. In the oil industry, guar gum is deployed to regulate the viscosity of the mud solution, thereby controlling and stabilizing the flow characteristics of the drilling muds. In the oil and gas industries, it is also used to help diminish the friction in the holes, hence reducing the usage of power. Moreover, it is used to minimize the water loss that may occur in a damaged geological formation. Besides, it is used to cool cementing slurries, drilling bits, and continuous fracturing in the oil & gas drilling industries.
Guar Gum is deployed in paper manufacturing as a superior additive. It imparts a denser surface to the printing paper and gives better writing and evasive properties, better bonding strength, and improved hardness. Also, owing to its enhanced adhesion, it provides better folding strengths.
Further key findings from the report suggest
- By forms, industrial grade guar gum contributed to a substantial market share in 2018 Applications of industrial grade guar gum comprises finishing, sizing, paper sheet formation, textile printing, and waterproofing, among others.
- By application, the gelling agent held the largest market share in 2018 and is expected to grow at a rate of 5.6% in the forecast period.
- By industry vertical, the food & beverage industry occupied the second-largest market share in 2018 and is expected to witness a CAR of 5.1% in the period 2019-2027. Guar Gum is utilized as a thickener and stabilizer in the food & beverage industry. In squashes and sauces, it works as a suspending agent and stabilizer. Also, it possesses a low calorific food value and is an exceptional bulk laxative.
- The market in the Asia Pacific region is projected to witness the fastest growth rate of 6.8% in the forecast period, attributed to the rapid growth food & beverage industry in emerging economies, including China and India, and a rise in the level of disposable income, among other factors.
- Key participants include Cargill Incorporated, Ashland Incorporated, Dabur India Limited, Shreeram Industries, Ingredion Incorporated, Lucid Group, DuPont, India Glycols Limited, Vikas WSP Limited, and Global Gums & Chemicals Pvt. Ltd., among others.
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For the purpose of this report, Reports and Data have segmented the global guar gum market on the basis of forms, application, industry vertical, and region:
Forms Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food Grade Guar Gum
- Industrial Grade Guar Gum
- Fast Hydration Guar Gum
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Thickening Agent
- Gelling Agent
- Binding Agent
- Lubricant
- Others
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food & Beverage
- Oil & Gas
- Pharmaceutical
- Cosmetics
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/guar-gum-market
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
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