Guar Gum Market

Guar Gum Market Segmentation by Grade (Food, Industrial, and Pharmaceutical); by Application (Thickening, Gelling, Binding, Friction Reducing, and Others); by End User (Oil & Gas, Food & Beverage, Mining & Explosives, Paper Manufacturing, Pharmaceuticals & Cosmetics, and Others) – Global Demand Analysis & Opportunity Outlook 2019-2028

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Report ID: 3177 | Published On: Apr 04, 2022
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


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Global Guar Gum Market Highlights Over 2019 - 2028

The global guar gum market is estimated to grow with a CAGR of 6.9% during the forecast period, i.e., 2021-2028. The market is further projected to attain a market revenue of USD 1111.8 Million by the end of 2028 from USD 787.6 Million in 2019. The growth of the market can be attributed primarily to the growing demand for guar gum from the oil & gas industry as its derivatives are extensively used across a wide array of applications, especially in green corrosion inhibitors, drilling fluid formulations, dispersants, and others.

Guar Gum Market

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Industrial grade guar gum is used as a thickening agent in the hydraulic fracturing for oil recovery and oil stimulation. Guar gum renders the hydraulic fracturing water viscous and thus make it capable of carrying and suspending proppant deep into the fractures created via the water pressure. In addition, the high viscosity of this biopolymer molecule also greatly reduces the friction and thereby augment water pressure. Moreover, the development of hydrophobically modified guar gum derivative (HMGG) for fracturing fluid formulations is also expected to result in the increased application of guar gum in oil and gas industry over the forthcoming years. The market is further projected to grow on account of the growing production of crude oil worldwide and therefore the need for guar gum in the oil & gas industry. According to the statistics by the United States Energy Information Administration (EIA), the annual production of crude oil and liquid fuel around the world reached 100.660 Million barrels per day in the year 2019 and is further projected to reach 101.822 Million barrels per day by the end of 2022.  

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Further, growing adoption of guar gum in the pharmaceutical industry as a natural polymer, along with the rising popularity of convenience food products, such as soups, bread, and others, where guar gum is used a natural hydrocolloid, are some of the additional factors anticipated to drive the market growth.


Global Guar Gum Market 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. The market in North America is anticipated to hold the largest market share throughout the forecast period and is further projected to reach a value of USD 590.3 Million by the end of 2028. 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 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.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).


Growth Drivers and Challenges Impacting the Growth of the Global Guar Gum Market


Guar Gum Market
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Growth Drivers

  • Growing Demand for Guar Gum from the Oil & Gas Industry
  • Increasing Adoption of Guar Gum in the Pharmaceutical Industry

Challenges

  • Volatility in the Price of Raw Materials


Global Guar Gum Market Segmentation Synopsis

The global guar gum market is segmented by grade into food, pharmaceutical, and industrial. Out of these segments, the industrial grade segment is projected to hold the largest share of the market during the forecast period and is further anticipated to touch USD 605.3 Million by the end of 2028. The segment is also anticipated to grow with the highest CAGR of 7.0% during the forecast period. Industrial grade guar gum is used in a wide array of industries namely oil & gas, explosives manufacturing, paper, textile, and others. It is used as a sizing agent, thickening agent, wet-end additive, and gelling agent in these industrial applications. Industrial grade guar gum powder is available in a broad range of particle size and viscosity. The market is further segmented based on application into thickening, gelling, binding, friction reducing, and others. Amongst these segments, the thickening segment is anticipated to grow with the highest CAGR of 7.1% during the forecast period. Based on end user, the market is segmented into oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals, personal care & cosmetics, and others. Out of these, the pharmaceuticals segment is projected to grow with the highest CAGR of 7.2% during the forecast period.


Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global guar gum market that are included in our report are Ingredion Incorporated, Ashland Inc., Shree Ram Industries, Hindustan Gum & Chemicals Ltd., Vikas WSP Ltd., International Flavors & Fragrances, Inc., Cargill, Incorporated, Ruchi Soya Industries Limited, and others.

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Key Questions Answered in the Report

1) What are the major factors driving the growth of the guar gum market?

Ans: The growing demand for guar gum from the oil & gas industry, along with the increasing adoption of guar gum in the pharmaceutical industry are some of the major factors anticipated to drive the market growth.

2) What would be the CAGR of guar gum market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 6.9% over the forecast period, i.e., 2021-2028.

3) What are the challenges affecting the guar gum market growth?

Ans: The concern for the price volatility of the raw materials is one of the major factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of guar gum market in future?

Ans: The market in the Asia Pacific is projected to display significant business opportunities in the future.

5) Who are the major players dominating the guar gum market?

Ans: The major players in the market are Ingredion Incorporated, Ashland Inc., Shree Ram Industries, Hindustan Gum & Chemicals Ltd., Vikas WSP Ltd., Cargill, Incorporated, Ruchi Soya Industries Limited, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the guar gum market?

Ans: The market is segmented by grade, application, end user, and by region.

8) Which segment captures the largest market size in grade segment in the guar gum market?

Ans: The industrial segment is anticipated to hold largest market over the forecast period and touch USD 605.3 Million by the end of 2028.

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