Global alginate market is anticipated to witness growth on account of increasing demand from various sectors including industrial textile, chemical and food & beverage. Alginates act as thickening agents, texturants and binding agents and hence are widely employed in the industrial textile sector. Growth in this sector on account of increasing demand for textiles in end-use industries including construction and clothing particularly in emerging economies of Asia Pacific is anticipated to boost alginate demand over the forecast period. In addition, varied uses of alginate including immobilizing biocatalysts, paper manufacturing, textile printing, fish feed and wielding rods coating is likely to propel its market over the projected period. The industrial textile sector has been the fastest growing market for alginates over the past few years and trend is expected to continue over the next seven years. Alginates are employed as thickeners for pastes containing dyes within the global textile market. Increasing textile demand in industries such as fashion & entertainment, sports & fitness, medical, transportation, protection & military, and architecture is likely to positively impact alginate market. Furthermore, alginates are used in the manufacturing of food and beverage products especially in the production of ice creams, and sauces as it acts as a stabilizing and thickening agent. Additionally, alginates are employed as separating agents in oil water emulsions and as a softening agent in bakery products. Growing consumption of convenience and processed food among consumers is further anticipated to fuel alginate demand. In 2012, Europe and North America accounted for major share in the alginate market as a result of growing application of the product in the processing of fish, meat, sauces, creams and salad dressings. However, Asia Pacific is anticipated to witness the fastest growth over the projected period in light of rising awareness regarding the use of alginate in the expanding pharmaceutical sector. Rapid economic development, rising consumption of medicines, increasing population and growing demand for food is anticipated to boost alginate demand in the region over the next seven years.
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Key players present in the alginate market include Brenntag AG, Ashland Inc, Cargill Inc., Kimica Corporation, DuPont, Dohler Group, Penford Corporation, Dastech International Inc., FMC Corporation and Dow Chemical Company. In 2013, Cargill invested USD 15 million to expand its French alginates production plant to provide a sustainable supply of the product for the pharmaceutical and food market.
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