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Further key findings from the study suggest:
- Asia Pacific was the largest market accounting for over 40% of global xanthan gum volume share in 2013. Food & beverage growth in China, India, Malaysia and Singapore is expected to drive market over the forecast period. In addition, growing oil & gas production in China on account of their rising demand in automobile and chemical industries is expected to have a positive impact on market over the next six years.
- Xanthan gum market demand in pharmaceutical applications accounted for less than 5% in 2013. Xanthan gum is primarily used to retard drug release in tablets and is compatible with numerous stabilizers and thickeners. Growth in the pharmaceutical industry is likely to propel xanthan gum demand over the next six years.
- Recovery of pharmaceutical industry in the U.S. is expected to drive market growth over the forecast period. Positive industry outlook of pharmaceutical sector in China and India on account of favorable FDI policies and supporting regulatory policies to boost domestic production output is expected to have a positive impact on market.
- S. Department of Commerce announced antidumping duties on imports of xanthan gum from China. This move is anticipated to restrict the supply of xanthan gum manufactured in China. Companies operating in China, including Fufeng and Deosen, are likely to be negatively impacted by the implementation of antidumping duties in the U.S. Antidumping duties are anticipated to be in the range of 15% to 154%.
- Key market participants include Fufeng Group, Deosen Biochemical Ltd, CP Kelco, ADM, Jungbunzlauer, DuPont Danisco, Meihua Group and Pfizer Inc. Xanthan gum production is confined to the U.S., Austria, France and China. Raw material availability in China and Austria is anticipated to force market players to maintain their manufacturing units in vicinity.
Grand View Research has segmented the global xanthan gum market on the basis of application and region:
Xanthan Gum Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
- Oil & gas
- Food & beverages
- Pharmaceutical
- Cosmetics
- Others
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