The Latin America, Middle East and Africa Xanthan Gum Market would witness market growth of 10.7% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 1,929.07 Tonnes, showcasing a growth of 8.9% (2024-2031).
This gum plays a significant role in the oil and gas industry, particularly in drilling operations. Its primary use is in drilling fluids, where it increases viscosity, making it easier to carry solid particles out of the drill hole. It stabilizes the drilling process, preventing wellbore collapse and improving the efficiency of the drilling muds. The gum's shear-thinning properties allow it to flow under pressure but thicken when needed, which helps to manage downhole pressure. Thus, the oil and gas segment in Brazil market consumed a volume of 94.31 Tonnes in 2023.
The Brazil market dominated the LAMEA Xanthan Gum Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $42.9 million by 2031. The Argentina market is showcasing a CAGR of 11.9% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 10.4% during (2024 - 2031).
This market is subject to several noteworthy trends that shape its trajectory and evolution. These trends reflect shifts in consumer preferences, regulatory landscapes, technological advancements, and industry dynamics. For example, The rising demand for plant-based diets has led to the expansion of the plant-based food market, encompassing products such as plant-based meats, dairy alternatives, and vegan snacks.
Furthermore, advancements in fermentation technology and strain selection have improved this gum production processes, resulting in higher yields, reduced production costs, and enhanced purity. Research and development efforts are focused on exploring novel applications and modifying this gum molecules to improve specific properties such as solubility, stability, and rheological behavior.
The UAE is a major player in the global oil industry, with significant investments in oil exploration and drilling activities. This gum is commonly used as a viscosity in drilling fluids during oil drilling operations. It helps to control the viscosity of the drilling fluid, suspend solid particles, and carry drilling cuttings to the surface, thereby facilitating efficient drilling operations. The expansion of the oil sector in the UAE can lead to an increased demand for xanthan gum as a key additive in drilling fluid formulations. Thus, the expansion of the oil sector in the region is propelling the growth of the market.
Free Valuable Insights: The Worldwide Xanthan Gum Market is Projected to reach USD 1.8 Billion by 2031, at a CAGR of 9.0%
Based on Form, the market is segmented into Powder and Liquid. Based on End Use Industry, the market is segmented into Food & Beverage, Oil & Gas, Pharmaceutical, Personal Care & Cosmetics, and Other End Use Industries. Based on Grade, the market is segmented into Food Grade, Industrial Grade, Pharmaceutical Grade, and Other Grades. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By End Use Industry (Volume, Tonnes, USD Billion, 2020-2031)
By Grade (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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