Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Xanthan Gum Market
Xanthan Gum Market Size
- Report ID: GMI512
- Published Date: Aug 2022
- Report Format: PDF
Xanthan Gum Market size
Xanthan Gum Market size surpassed USD 650 million in 2021 and is expected to exhibit a CAGR of over 5.5% between 2022 and 2030. The introduction of government subsidies to boost oil output will accelerate the overall market growth.
Xanthan gum is being widely adopted as an ideal additive in oil and gas drilling and other applications, due to its thickening, pollution resistance, and salt resistance attributes. This oilfield treatment agent also has a significant impact on tertiary oil or fluid recovery. In 2021, over 23.9 million barrels of oil were produced per day in North America, a slight increase from 23.5 million barrels produced per day in 2020. This gradual rise in oil and gas output will augment the need for xanthan gum used in oilfields.
Likewise, xanthan gum is beneficial for use as an additive in drilling fluids, given its resilience to thermal deterioration and good compatibility with salts. Over the years, governments have been introducing huge subsidies for the oil and gas sector, mainly in the form of tax incentives. According to data from the International Monetary Fund, oil, natural gas, and coal received USD 5.9 trillion in subsidies in 2020. Such initiatives will encourage consumers to purchase these fuels and generate lucrative opportunities for the xanthan gum market development.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Xanthan Gum Market Size in 2021 : | USD 699.3 Million |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5.8% |
| 2030 Value Projection: | USD 1.2 Billion |
| Historical Data for: | 2017 to 2021 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 108 |
| Segments covered: | Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Xanthan Gum Market Scope
