Guar Gum Market escalating through Fracturing Fluids in the Oil & Gas Industry
Guar gum works as an emulsifier, stabilizer, and hydrocolloid and has found wide range of applications in well-known industries such as food and beverage industry and oil and gas industry. As per the findings of the IndustryARC, the global guar gum market size was $790m in 2018 and is set to grow at a CAGR of 7.40% over the forecast period 2019-2025.
The global guar gum market report titled: “Guar Gum Market: By End Use (Food, Pharmaceuticals, Industries), By Function (Thickening, Gelling Agent, Stabilizing, Fat Replacer, Emulsification, Preservative) – Forecast (2019-2025).” The report offers an in-depth assessment of the competitive landscape, determining fastest and largest growing segments across the regions, business strategies, major competitors involved in the value chain of guar gum such as manufacturers, suppliers, distributors, importers, and exporters. The report covers Guar Gum Market size by Function and applications, Guar Gum Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Guar Gum Market: Leading Segment
Fast hydrating slurriable guar is used as a fracturing fluid in oil and gas wells stimulation. This hydraulic fracturing technology which uses guar gum is majorly used to generate natural gas and crude oil in the oil and gas industry. Besides, this technology improves the recovery of hydrocarbons from underground creations. These applications of guar gum are gaining huge traction in the oil and gas industry. In the oil recovery operations, bio-polymers have been employed for an enhanced oil recovery and also involved in the formulation of drilling muds. Thus, guar gum market is growing at a CAGR of 6.9% owing its applications in oil and gas industry.
Guar gum is extensively used in both food and non-food industries. It is generally recognized as safe product for both human and animal consumption as it is approved by U.S. FDA. According to Agro Gums, India is the largest guar gum producer and holds a share of 80% in worldwide guar production. International Trade Centre import statistics reveal that the U.S. was the largest importer of guar gum for the year 2018. Therefore, North America region has been identified as the leading one among other regions, which accounts for a regional share of 52% in the global guar gum market.
Guar Gum Market: Disruptive Trends
Addition of guar-gum fibers improves the tensile strength and permeability of composite fibers. These composite fibers are preferred in the medical applications because of their super absorbency, equivalent mechanical strength along with high antibacterial efficiency.
The rise development of guar gum based active packaging films with grape pomace is influencing the guar gum demand. It acts as a biodegradable active film to expand the shelf-life of slightly processed fresh-produce.
Guar gum is used as a cost effective thickening and stabilizing agent across diverse range of industries food and beverages, oil and gas well drilling, mining and construction, pharmaceuticals, paper industry, textile industry, tobacco industry and cosmetic industry.
Properties like high viscosity, and corrosion inhibition potential have made guar gum to excel in some of the industrial applications such as construction, textiles, mining, and cosmetics and its derivatives such as demuslifiers for water-in-oil emulsions, green corrosion inhibitors, fracturing fluids, and viscosity modifiers.
Guar Gum Market: Competitive Landscape
Shree Ram Industries, Hindustan Gum and Chemicals Ltd., rama gum industries limited, Jai Bharat Gum and Chemicals Ltd, Tiku Ram Gum and Chemicals Pvt. Ltd., Sarda Gums And Chemicals, Dabur India Ltd., Supreme Gums Pvt. Ltd. Guangrao Liuhe Chemicals Co. Ltd., Global Gums and Chemicals Pvt. Ltd., and Ingredion Incorporated are some of the key companies which are operating in the global guar gum market.
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A. Thickener, Stabilizer and Gelling Agent Market
B. Hydrocolloids Market
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