The size of the Asia Pacific guar gum market is expected to be worth USD 218.32 million in 2024 and grow at a CAGR of 9.86% from 2024 to 2029 to achieve USD 349.34 million by 2029. The Asia Pacific Guar Gum market is developing at an exceptionally quick pace.
The guar plant is aplant known as 'Cyamopsis Tetragonaloba'. The important source of nutrition to human and animals is the legume, it regenerates soil nitrogen and the endosperm of guar seed is an important hydrocolloid widely used across various industries.
The significant drivers is the developing oil & gas industry, specially the shale gas industry, which in turn increased the demand for guar gum. Also surge in the growing use of guar gum in wide range of applications, such as oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals etc. in developed and developing nations is boosting the industry.
The industrial grade segment is estimated to account for the largest market share in the Guar Gum Market in 2016. It is considered as the one of the most widely used guar gum, owing to its multi-functional properties and its vast applications in the oil & gas, mining & explosives, paper manufacturing etc.
China and India are likely to boost the market because of huge population. Also Asia Pacific is largest growing segment.
Major key players in the Asia Pacific Guar Gum Market are Jai Bharat Gums & Chemicals Ltd. (India), Neelkanth Polymers (India), Guangrao Liuhe Chemicals Co. Ltd. (China) , Lucid Group (India) ,Hindustan Gums & Chemicals Ltd. (India), Vikas WSP Limited (India), Ashland Specialty Ingredients (U.S.), Ingredion Inc. (U.S.), Altrafine Gums (India), Ruchi Soya Industries Ltd. (India), and Supreme Gums Pvt. Ltd. (India) are the leaders in the Asia Pacific Guar Gum market.
Frequently Asked Questions
Current trends in the APAC guar gum market include increasing demand from the food and beverage industry for natural thickening agents, rising applications in the oil and gas industry, particularly in hydraulic fracturing (fracking), growing usage in the pharmaceutical and cosmetics industries due to its stabilizing properties.
Factors driving the growth of the guar gum market in APAC include increased demand for processed and convenience foods that use guar gum as a stabilizer, growth of the shale gas industry, which uses guar gum in fracking fluids, and rising health awareness and preference for natural and organic ingredients in food and cosmetics.
Challenges faced by the guar gum market in APAC include price volatility of guar gum due to fluctuating guar bean production, dependence on monsoon and weather conditions, which affect guar bean yields, and competition from synthetic substitutes and other natural hydrocolloids.
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