Technavio analysts forecast the global guar gum market to grow at a CAGR of more than 8% during the forecast period, according to their latest market research report.
The growing inclination toward natural ingredients in cosmetics products is one of the major trends being witnessed in the global guar gum market 2018-2022. The rising awareness of the side-effects of synthetic ingredients in cosmetics and personal care products is promoting the use of guar gum in the cosmetics and personal care industry. Guar gum is extensively being used in cosmetic products such as gels, creams, and liquid soaps, thanks to its gelling property. Guar gum is also used as a thickener, protective colloid, and conditioner in hair and skin care products, creams, shampoos, and lotions.
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According to Technavio analysts, one of the key factors contributing to the growth of the global guar gum market is the growing demand for fast hydrated guar gum in the oil and gas industry:
Global guar gum market: Growing demand for fast hydrated guar gum in the oil and gas industry
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Guar gum, derived from guar seeds, is one of the key commercial feedstock used in the oil and gas industry for applications including oil drilling rigs, oil well fracturing, shale gas production, oil well stimulation, and other exploration activities. Guar gum is used in the oil and gas industry, due to its thickening properties. Fast hydrated guar gum is widely used as a stimulant in oil drilling. The rapid growth in shale gas and oil exploration worldwide will fuel the growth of the guar gum market during the forecast period.
According to a senior analyst at Technavio for research on specialty chemicals, Apart from the growing demand for fast hydrated guar gum in the oil and gas industry, factors such as the increasing use of guar gum in diversified applications along with the growing popularity of natural gums are expected to fuel the growth of the global guar gum market during the forecast period.
Global guar gum market: Segmentation analysis
The global guar gum market research report provides market segmentation by application (oil and gas, food and beverages, and pharmaceuticals and cosmetics) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas region held the largest share of the market in 2017, accounting for about 75% share, followed by the EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2017, it is expected to register the highest incremental growth during the forecast period.
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Five Forces Analysis
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