PUBLISHER: The Business Research Company | PRODUCT CODE: 1409502
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409502
“Hydroxypropyl Methylcellulose Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hydroxypropyl methylcellulose market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hydroxypropyl methylcellulose? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hydroxypropyl methylcellulose market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Hydroxypropyl methylcellulose belongs to the class of cellulose ethers, wherein one or more of the three hydroxyl groups in the cellulose ring have been substituted with other hydroxyl groups. It is characterized as odorless and tasteless, appearing white to slightly off-white with fibrous or granular properties. Its wide range of applications includes medicine delivery, dyes and paints, cosmetics, adhesives, coatings, agriculture, and textiles, attributed to its hydrophilic nature, biodegradability, and biocompatibility.
The primary types of hydroxypropyl methylcellulose are pharmaceutical grade and industrial grade. Pharmaceutical-grade products meet the standards set by the FDA (The United States Food and Drug Administration) for use in food for both people and animals, ensuring compliance with strict purity requirements. Sales channels for hydroxypropyl methylcellulose include both direct and indirect sales, catering to various industries such as construction, pharmaceuticals (including cosmetics), and the food industry, among others.
The hydroxypropyl methylcellulose market research report is one of a series of new reports from The Business Research Company that provides hydroxypropyl methylcellulose market statistics, including hydroxypropyl methylcellulose industry global market size, regional shares, competitors with a hydroxypropyl methylcellulose market share, detailed hydroxypropyl methylcellulose market segments, market trends, and opportunities, and any further data you may need to thrive in the hydroxypropyl methylcellulose industry. This hydroxypropyl methylcellulose market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hydroxypropyl methylcellulose market size has grown strongly in recent years. It will grow from $4.36 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth observed in the historical period can be attributed to various factors, including increased applications in the pharmaceutical industry, a rise in food and beverage production, a surge in cosmetic products, an increased demand for hydrophilic polymers, utilization in the textile industry, and the adoption of water-based adhesives.
The hydroxypropyl methylcellulose market size is expected to see strong growth in the next few years. It will grow to $5.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to a focus on sustainable construction materials, the expansion of the ready-to-eat meals industry, a growing demand for low-fat foods, ongoing research in tissue engineering, and the development of the waterborne paints and coatings market. Major trends expected in the forecast period include innovations in hydrogels and biomaterials, the customization of hydroxypropyl methylcellulose (HPMC) grades, advancements in drug delivery systems, the adoption of biodegradable packaging, and an emphasis on quality and purity standards.
The hydroxypropyl methylcellulose market is expected to experience significant growth, propelled by increased spending in the pharmaceutical sector. The pharmaceutical industry, dedicated to the discovery, development, and manufacture of drugs and medications, employs hydroxypropyl methylcellulose to treat dryness and irritability resulting from reduced tear production, preventing eye damage. Notably, the European Federation of Pharmaceutical Industries and Associations (EFPIA) reported a total pharmaceutical production in Europe of $384,200 million (€340,000 million) in 2022, marking a 4.95% increase from $366,267 million (€323,950 million) in 2021. This rise in pharmaceutical sector spending is a key driver behind the hydroxypropyl methylcellulose market's growth.
The construction sector's expansion is anticipated to further drive the hydroxypropyl methylcellulose market. Hydroxypropyl methylcellulose finds application in the construction industry as a water-retaining agent and cement mortar retarder, enhancing pumpability, preventing cracking due to rapid drying, and increasing mortar strength in structures. Oxford Economics projects a 42% increase in world construction output, reaching $15.2 trillion by 2030, driven by population growth and urbanization in emerging economies, stimulating demand for infrastructure and residential construction. Consequently, the rising construction sector is a significant factor propelling the growth of the hydroxypropyl methylcellulose market.
The hydroxypropyl methylcellulose market is also set to benefit from the heightened demand for personal care products. Personal care products encompass a range of consumer goods for personal hygiene and grooming, utilizing hydroxypropyl methylcellulose in cosmetic formulations such as skincare, hair care, and color cosmetics. Consumer expenditure on personal care products increased by 12.3% to $866 in 2022, according to the Bureau of Labor Statistics. This surge in demand for personal care products contributes to the growth of the hydroxypropyl methylcellulose market.
A key trend in the hydroxypropyl methylcellulose market is the focus on product innovations by major industry players. Companies are introducing innovative products to enhance their market positions, as seen with Evonik Industries AG's introduction of EUDRACAP in May 2021. EUDRACAP, a ready-to-use capsule made of hydroxypropyl methylcellulose, optimizes the release profile of oral drug products, safeguarding delicate active pharmaceutical ingredients. Similarly, Roquette launched PEARLITOL CR-H in November 2022, a controlled-release drug formulation combining mannitol and hydroxypropyl methylcellulose for enhanced tablet processibility.
In April 2021, Ashland Inc., a US-based chemical manufacturing company, acquired the personal care business of Schulke and Mayr GmbH for $286.87 million (Euro 262.5). This strategic move aims to strengthen Ashland's consumer business portfolio, enhance its specialty additives position, and expand its technical competencies in biotechnology and microbiology. Schulke and Mayr GmbH, a German pharmaceutical company, contribute to the hydroxypropyl methylcellulose market with their expertise in the field.
Major companies operating in the hydroxypropyl methylcellulose market report are Celotech Chemical Co Ltd., Zhejiang Kelain New Materials Co Ltd., Shin-Etsu Chemical Co Ltd, Ashland Global Specialty Chemicals Inc, DuPont de Nemours Inc, Colorcon Inc, Lotte Fine Chemical Co Ltd, Shandong Head Co Ltd, Shijiazhuang Shangdun Cellulose Co Ltd, Fenchem Biotek Ltd, Mitsubishi Chemical Group Corporation, Paramount Chemical & Acid Corporation, Universal Mine Chem, Madhu Hydrocolloids Pvt. Ltd., Dow Chemical Company, Ashland Global Holdings Inc., Samsung Fine Chemicals Co. Ltd., Zhejiang Kehong Chemical Co. Ltd., China Ruitai International Holdings Co. Ltd., Kingstone Chemical Holdings Co. Ltd., SE Tylose GmbH & Co. KG, Daicel FineChem Ltd., Anhui Shanhe Pharmaceutical Holdings Co. Ltd., Ashland LLC, Changzhou Guoyu Environmental S&T Co. Ltd., J. Rettenmaier & Sohne GmbH + Co KG, Shanxi Sanwei Group Co. Ltd
Asia-Pacific was the largest region in the hydroxypropyl methylcellulose market in 2023. Asia-Pacific is expected to be the fastest-growing region in the hydroxypropyl methylcellulose market report during the forecast period. The regions covered in the hydroxypropyl methylcellulose market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hydroxypropyl methylcellulose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hydroxypropyl methylcellulose market consists of sales of hypromellose 2208 (K chemistry or grade) and hypromellose 2910 (E chemistry or grade). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.