What is Guar Gum Market Scope?
Applications of guar gum are increasing in the pharmaceutical industry, petroleum industry and many others, which will lead to propel growth of guar gum market across the globe. Since, India is being one of the major guar producers, any volatility in the local market will ultimately effect the global guar gum market. Guar gum which is also called as guaran are the fabricated beans and used in number of industries due to its stabilizing and thickening properties. The guar seed are screened, de-husked, cleaned and milled to form finalized off white powder and classed as galactomannan products named guar gums with stable pH value around 5-7.
|Unit||Value (USD Million)|
|Key Companies Profiled||Hindustan Gum & Chemicals Ltd. (India), Jai Bharat Gum & Chemicals Ltd. (India), Neelkanth Polymers Industries (India), Sunita Hydrocolloids Private Ltd. (India), Vikas WSP Ltd. (India), Guangrao Liuhe Chemicals Ltd. (China), Global Gums & Chemicals (Pakistan), Shandong Dongda Commerce (China), Jingkun Oil Field Chemistry Technology Development Company (China) and Lotus Gums & Chemicals (India)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Guar Gum market study is being classified, by Application (Food & Beverages, Oil & Gas, Paper Manufacturing, Mining & Explosives and Pharmaceuticals & Cosmetics) and major geographies with country level break-up. According to AMA, the Global Guar Gum market is expected to see growth rate of 6.28% and may see market size of USD929.54 Million by 2027.
According to the managing director of Sunita Hydraucolloid ‘PK Hisaria’, Demand for guar gum as a hydraulic fracturing agent has dropped after crude oil prices started falling. Moreover, the North American oil sector is leaning towards slick water which is cheaper than guar gum and if the same trend continues the exports for the financial year 2019 might be decreased by 10 to 15%. Analysts at AMA predicts that Vendors from Indian will contribute to the maximum growth of Global Guar Gum market throughout the predicted period.
Hindustan Gum & Chemicals Ltd. (India), Jai Bharat Gum & Chemicals Ltd. (India), Neelkanth Polymers Industries (India), Sunita Hydrocolloids Private Ltd. (India), Vikas WSP Ltd. (India), Guangrao Liuhe Chemicals Ltd. (China), Global Gums & Chemicals (Pakistan), Shandong Dongda Commerce (China), Jingkun Oil Field Chemistry Technology Development Company (China) and Lotus Gums & Chemicals (India) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Supreme Gums Pvt. Ltd. (India), Shree Ram Group (India), Wuxi Jinxin Science & Technology Co., Ltd. (China), Rama Industries (India), Vikas Granaries Ltd. (India) and Raj Gum Industries (India).
Analyst at AMA have segmented the market study of Global Guar Gum market by Type, Application and Region.
On the basis of geography, the market of Guar Gum has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
According to the ET monthly analysis reported on February 19th, 2018, all India’s weekly average prices for guar seed is decreased by 2.16% i.e. Rs3,888.97 per quintal during the week ended on 8th February. Also, the average price for guar seed was ruling around Rs3,974.65 per Quintal during the last week of January i.e. 24th to 31st January. This will affect the global guar seeds market as India grows over 850 KT, or 80% of the total guar produced all over the world. In addition to this, 75% of the Guar gum or derivatives produced in India are exported, mainly to the US and to European countries. and In first interim of FY 18/19, the guar gum exports were increased to the exports made a year ago period to 2,65,195 tonnes. Although in the first half of this FY 17/18, exports to the United States decreased to more than 18 percent from 117 KT which were recorded a year ago, India exports the largest quantity to the American market accounting to more than 40% of the global exports in FY 17/18.
Influencing Market Trend
- Rising Production as well as Average Crop yield by Adopting Technologically Advanced Production Facilities
- Upsurging Adoption of Guar Gum in Hydraulic Fracturing and Horizonal Oil Well Drilling
- Increasing Applications in the Pharmaceutical Industry
- Growing Prevalence of Chronic Diseases and Ageing Population
- Increasing Processed Food Consumption with respect to Rising Disposable Incomes
- Escalating Preference for Convenience Food and Growing Urban Population
- Volatile Productivity of Gaur Gum leading to create Pricing Fluctuations
- Majority of Crop Yield Depends on the Amount of Rainfall in the Respective Region
- Guar Gum Productivity Depends on Number of External Factors such as Amount of Rainfall, Soil Quality, Production Techniques and Many Others
- Rising Threat of Cheaper Substitutes such as xanthan gum, locust bean gum, and other synthetic alternatives
Key Target AudienceGuar Manufacturers, Gaur Seed Providers, Guar Gum Manufacturers, Distributors and Traders, Agricultural Industry Associations, International Trade Organizations, Government Agencies and Others
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