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Global Petroleum Grade Xanthan Gum Market Growth 2024-2030
Product Code:1236484
Published Date: Nov 02,2024
Pages: 96
Region: Global
Category: Chemical & Material
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Petroleum grade xanthan gum is an environmentally friendly and efficient mud additive used in oil drilling and mining. It has excellent tolerance to changes in temperature, pH and salt content. Petroleum-grade xanthan gum can greatly increase its penetration and suspension performance for fine solid materials, reduce pressure loss during drilling, and reduce damage to oil layers while accelerating drilling. At the same time, as a biological oil recovery additive, while protecting the environment, xanthan gum can greatly improve the profile adjustment effect and oil recovery rate, improve resource utilization, reduce production costs, and improve economic benefits.
The global Petroleum Grade Xanthan Gum market size is projected to grow from US$ 782 million in 2024 to US$ 898 million in 2030; it is expected to grow at a CAGR of 2.3% from 2024 to 2030.
LP Information, Inc. (LPI) ' newest research report, the “Petroleum Grade Xanthan Gum Industry Forecast” looks at past sales and reviews total world Petroleum Grade Xanthan Gum sales in 2023, providing a comprehensive analysis by region and market sector of projected Petroleum Grade Xanthan Gum sales for 2024 through 2030. With Petroleum Grade Xanthan Gum sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Petroleum Grade Xanthan Gum industry.
This Insight Report provides a comprehensive analysis of the global Petroleum Grade Xanthan Gum landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Petroleum Grade Xanthan Gum portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Petroleum Grade Xanthan Gum market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Petroleum Grade Xanthan Gum and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Petroleum Grade Xanthan Gum.
Driving factors:
Increasing demand for xanthan gum
The global total demand for oil continues to grow, leading to an increase in mining volume, and the demand for petroleum-grade xanthan gum has also increased.
Rising prices of xanthan gum products
The increase in demand has led to a rapid increase in the price of xanthan gum. In the first half of 2023, the price reached a high level in the past decade, and the increase in xanthan gum prices was greater than the increase in raw material prices, resulting in the increase in operating costs of manufacturers being less than the increase in operating income, and bringing higher gross profit margins and total profits to production companies.
Restrictive factors:
Macroeconomic fluctuation risk
The food additive industry and downstream food and oil drilling industries in which xanthan gum is located will be affected to a certain extent by global macroeconomic fluctuations. If the macroeconomic growth rate of the main customer countries is weak, the demand for xanthan gum will be appropriately reduced; in addition, exchange rate fluctuations, inflation, and cyclical price changes of coal and corn, the main cost components, have also had a certain impact on the profitability of the industry.
Industry competition risk
In the past, many companies entered the xanthan gum market, and the market competition was fierce and triggered a price war. The price of xanthan gum continued to decline, the industry suffered serious losses, and the operating rate was obviously insufficient. After that, some companies began to withdraw from the market one after another, and the industry concentration increased significantly. At the same time, due to the continuous increase in demand, the price of xanthan gum has recovered, but the risk of a new round of intensified industry competition after the price increase cannot be ruled out.
Alternative risk
In the petroleum industry, due to the rheological properties, salt resistance, thickening effect and relatively low price of xanthan gum, it is more cost-effective than polyacrylamide, carboxymethyl cellulose, modified starch and some polysaccharide plants (guar gum, etc.). However, it cannot be ruled out that guar gum will break through the production capacity bottleneck and reduce the price in the future, thereby reducing the attractiveness of xanthan gum. In addition, although xanthan gum currently has extremely high performance in the application of food additives and drilling mud additives, it is still possible to be replaced by new materials in the future, which will cause a huge blow to the xanthan gum industry.
This report presents a comprehensive overview, market shares, and growth opportunities of Petroleum Grade Xanthan Gum market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Dispersible
High Viscosity
Heat Resistance
Other
Segmentation by Application:
Drilling Industry
Oil Exploitation Industry
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Fufeng Group
Meihua Group
CP Kelco
Deosen Biochemical
Jianlong Biotechnology
Jungbunzlauer
ADM
Cargill
Hebei Xinhe Biochemical
Vanderbilt Minerals
Key Questions Addressed in this Report
What is the 10-year outlook for the global Petroleum Grade Xanthan Gum market?
What factors are driving Petroleum Grade Xanthan Gum market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Petroleum Grade Xanthan Gum market opportunities vary by end market size?
How does Petroleum Grade Xanthan Gum break out by Type, by Application?