Growing Demand for Guar Gum in the Oil & Gas Industry Drives Guar Gum Market

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The market for guar gum is projected to grow at a CAGR of 7.9% from 2017 to 2022, to reach USD 1.15 billion by 2022. The growth of the guar gum market is driven by the rising demand for convenience foods in the food industry and growing demand for guar gum in the oil & gas industry. Growing awareness among consumers about health & nutrition has resulted in an increased interest in natural and organic products such as guar gum.

The key players in the guar gum market include as Hindustan Gums & Chemicals Ltd. (India), Vikas WSP Limited (India), India Glycols Limited. (India) , Rama Gum Industries (India) Ltd., Dabur India Ltd. (India), Jai Bharat Gums & Chemicals Ltd. (India), Neelkanth Polymers (India), Guangrao Liuhe Chemicals Co. Ltd. (China) , Lucid Group (India) , Global Gums & Chemicals Pvt. Ltd. (Pakistan) , Ashland Specialty Ingredients (U.S.), Ingredion Inc. (U.S.), Altrafine Gums (India), Ruchi Soya Industries Ltd. (India), and Supreme Gums Pvt. Ltd. (India).

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Robustness of product offerings with extensive end-user industry coverage and export locations were the core strengths of the leading players of the guar gum market; these strategies were adopted by the players to increase their market presence. Their diverse product offerings helped the players capture businesses across globe, strengthen distribution networks, and enhance their production capacities. Market leaders such as Hindustan Gums & Chemicals Ltd. (India), Vikas WSP Limited, India Glycols Ltd. (India), Dabur India Ltd. (India), and Ingredion Inc. (U.S.) successfully tapped the potential markets through acquisitions and the scaling up of production capacity.

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The market of guar gum is dominated by Indian key players because of the excess availability of guar gum in the country. Hindustan Gums & Chemicals Ltd. (India) is one of the leading companies in guar gum with the largest annual capacity and experience of more than 60 years in the guar gum industry. It is a joint venture of Solvay Inc., USA, and the M.P. Birla Group, India that manufactures a special grade of guar gum powder. This company offers, both branded and customized products under the "HIGUM" logo to a diverse range of industries including food, oil well drilling, and explosives.

Vikas WSP Limited (India) is one of the major Indian manufacturers and exporters of guar gum powder (GGP). It offers a wide range of quality products for the food & beverage industry as compared to its product offering for technical applications such as oil drilling & fracturing, textile printing, and paper. It is also the solitary producer of "Certified Organic Guar Polymers" in India. The company has a high production capacity with its four manufacturing units in India along with logistics, warehousing, and research & quality control facilities, which ensures smooth operations and geographical reach in the global market.

India Glycols (India) is involved in the production of green technology-based bulk, specialty & performance chemicals, natural gums, spirits, industrial gases, sugar, and nutraceuticals. Along with various chemicals, it has a significant presence in the manufacturing of guar gum. It has scaled up its guar gum production capacity five times in a time span of 15 years.

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The gelatin segment is projected to dominate the guar gum market, by type, during the forecast period.

The gelatin segment dominated the guar gum market in 2017 and is projected to dominate the market during the forecast period. The usage of gelatin as a gelling agent is projected to grow due to the increasing need for emulsifiers in the food & beverage industry in major markets such as Germany, the UK, and France.

The demand for the gelling segment, by function, is estimated to rise and dominate the guar gum market during the forecast period.

Guar gum finds application in various industries such as pharmaceuticals, personal care, and food, owing to its superior gelling property. Increasing demand for guar gum from pharmaceutical and personal care applications such as dental impression materials, dental treatment gels, dentifrice pastes gels, styling creams & gels, liquid soaps, and bath gels has been fueling the demand for guar gum.

North America is projected to account for the largest market size during the forecast period.

North America is a dominant region in the global guar gum market. The market is projected to be driven by the rising growth of the oil & gas drilling industry in the forthcoming years. Factors influencing its market dominance include the high demand for functional dairy products, convenience foods, higher per capita consumption of baked goods, and presence of major players.
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