The global HPMC (hydroxypropyl methylcellulose) market size reached 147.6 Kilo Tons in 2022. Looking forward, IMARC Group expects the market to reach 194.5 Kilo Tons by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Hydroxypropyl methylcellulose (HPMC), also known as hypromellose, is a derivative of alkali cellulose obtained by treating cotton liner or wood pulp with caustic soda, methyl chloride, and propylene oxide. It is an odorless, tasteless, light-colored, and non-toxic powder that forms a colloid solution when dissolved in cold water. As it exhibits hydrophilic and reversible gelation properties, it finds applications in various fields, ranging from construction to ophthalmology. Nowadays, HPMC is increasingly being utilized in preparing biocomposites on account of its excellent biodegradability and biocompatibility.
The market growth can be accredited to the increasing use of HPMC in several industry verticals. For instance, it acts as a thickening agent, stabilizer, and emulsifier in the preparation of toppings, sauces, frozen fruits, ketchup, and various bakery items. This, in confluence with the escalating demand for low-fat food products on account of the increasing health consciousness among individuals, represents one of the major factors driving the demand for HPMC in the food and beverage (F&B) industry. Moreover, as it is inert, semisynthetic, and viscoelastic, it is utilized as a lubricant, binder, excipient, bio adhesive, solubility enhancer, and dispersing agent in the production of lotions, ointments, creams, and pastes. In addition to this, the increasing focus on personal health and hygiene is positively influencing the sales of personal care products, which, in turn, is contributing to market growth. Apart from this, the expanding applications of HPMC in manufacturing dyes, paints, coatings, textiles, and oral medications are anticipated to provide lucrative growth opportunities to market players.
IMARC Group provides an analysis of the key trends in each sub-segment of the global HPMC (hydroxypropyl methylcellulose) market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on end use.
Breakup by End Use:
Presently, the construction industry dominates the market due to the significant increase in the building of contemporary homes and offices.
Breakup by Region:
United States holds the largest market share on account of the revival of the real estate sector in the country.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are SE Tylose GmbH & Co. KG, Ashland Global Holdings Inc., Dow Chemical Company, Shandong Head Co., Ltd, and LOTTE Fine Chemical Co., Ltd.
Report Coverage:
Report Features Details Base Year of the Analysis 2022 Historical Period 2017-2022 Forecast Period 2023-2028 Units ‘000 Tons, US$ Million Segment Coverage End Use, Region Region Covered China, Western Europe, Other Asia, United States, Central/Eastern Europe, Middle East, South America, Others Companies Covered SE Tylose GmbH & Co. KG, Ashland Global Holdings Inc., Dow Chemical Company, Shandong Head Co., Ltd. and LOTTE Fine Chemical Co., Ltd. Customization Scope 10% Free Customization Report Price and Purchase Option Single User License: US$ 2499Want more information on hpmc manufacturer? Click the link below to contact us.