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Guar Gum Market escalating through Fracturing Fluids in the Oil & Gas Industry
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., 9/13/2019 - 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 & 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.

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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 & 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 & 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: Competitive Landscape

Shree Ram Industries, Hindustan Gum & Chemicals Ltd., rama gum industries limited, Jai Bharat Gum and Chemicals Ltd, Tiku Ram Gum & Chemicals Pvt. Ltd., Sarda Gums And Chemicals, Dabur India Ltd., Supreme Gums Pvt. Ltd. Guangrao Liuhe Chemicals Co. Ltd., Global Gums & 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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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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