Market overview

Carboxymethyl cellulose (CMC, CAS 9004-32-4) is an anionic cellulose ether used in food, pharmaceuticals, detergents, oil drilling, paper and, increasingly, as a binder in lithium-ion battery anodes. Battery-grade CMC requires very high purity and consistency and is the fastest-growing, highest-value segment.

Key figures at a glance
– CMC market: USD 1.87 bn (2025), USD 1.95 bn (2026) to USD 3.03 bn by 2035 at 5.0% CAGR (Global Market Insights)
– Batteries and energy storage held 7.2% of 2025 revenue and are the fastest-growing use at 15.7% CAGR (Global Market Insights)
– Shares 2025: CP Kelco 14.0%, Ashland 12.8%, Nouryon 9.1%; top five about 44.6% (Global Market Insights)

Recent developments among key stakeholders
– Oct 2026: Evonik is reported to be evaluating an acquisition of Ashland (market value about USD 3.3 bn); private equity firms Advent, Apollo and Carlyle were also named as interested parties (PCI Magazine, citing Reuters and Handelsblatt)

What this means for the market
Ashland is the subject of trade and private-equity interest. Deal teams need product-level data on this market, and customers need to understand what a change of owner means for supply.

How published estimates compare
Global Market Insights lists CP Kelco under IFF while noting that Tate & Lyle acquired it in November 2024, so ownership data in published reports is already out of date. Market Krystal tracks current ownership and sizes battery-grade CMC separately.

What this report delivers
Annual volume (tonnes) and value (USD) for 2026-2035, segmented by grade: food, pharma, battery binder, detergent, technical/oilfield; application: food and beverage, pharma, batteries, detergents, oil and gas, paper and textiles; region: Asia-Pacific, North America, Europe. Each segment is backed by a producer capacity table, price benchmarks for 2020-2025 by grade and region, trade-flow analysis and a supplier risk map. Companies assessed include CP Kelco (Tate & Lyle), Ashland, Nouryon, DKS, SINOCMC. The 2036-2047 outlook uses three explicit scenarios (base, constrained supply and technology transition) rather than a single extrapolated curve.

Methodology and transparency
Every third-party figure in this report is cited to its source. Market Krystal estimates are labelled as such, with the volume, price and share assumptions behind them shown in the supporting Excel model, so buyers can audit and adjust them. Where public sources conflict, the report shows the range and explains which evidence it relies on.

The purchased delivery includes the PDF report, Excel datasets and customization around the buyer’s priority region, company set, application or commercial question.

What this research answers

The study connects production routes, named suppliers, applications, regional demand, trade, pricing drivers and commercial opportunities for this CAS number. Detailed estimates and company analysis remain inside the purchased report.