An increasing demand for low-fat foods and growing use of HPMC in pharmaceutical applications are projected to propel the expansion of the global hydroxypropyl methylcellulose (HPMC) market during the forecast period between 2023 and 2029.
Global Hydroxypropyl Methylcellulose (HPMC) Market - Industry Trends & Forecast Report, 2029
Global hydroxypropyl methylcellulose (HPMC) market size was estimated at USD 5.41 billion in 2022. During the forecast period between 2023 and 2029, the size of global hydroxypropyl methylcellulose (HPMC) market is projected to grow at a CAGR of 2.25% reaching a value of USD 6.27 billion by 2029. Major growth drivers for the global hydroxypropyl methylcellulose (HPMC) market include an increasing demand from end-use industries, such as construction and pharmaceuticals. Key players are focusing on offering customized manufacturing and solutions using advanced technologies to expand their customer base and increase revenue in the future. HPMC, a powdered substance with diverse applications, acts as a stabilizer, thickening agent, and emulsifier in the production of various food items, including frozen fruits, ketchup, sauces, toppings, and bakery products. The rising demand for low-fat products due to consumers' increasing health-consciousness is one of the primary factors driving the demand for global hydroxypropyl methylcellulose (HPMC) market during the forecast period.
Global Hydroxypropyl Methylcellulose Market – Overview
Hydroxypropyl methylcellulose (HPMC) is a powder that has no taste or smell, is not harmful, and is light in color. When dissolved in cold water, it creates a colloid solution. HPMC has a wide range of applications in different fields, including construction and ophthalmology. Due to its remarkable biodegradability and biocompatibility, it is now frequently used in making bio composites. HPMC is a versatile powder that has various applications across multiple industries. It is commonly used as a thickening agent, stabilizer, and emulsifier in the production of frozen fruits, ketchup, sauces, toppings, and baked goods. The increasing demand for low-fat products is driving the demand for HPMC as consumers become more health-conscious. HPMC is also used in the manufacturing of cosmetic products such as ointments, creams, pastes, and lotions because of its ability to act as a bio adhesive, excipient, and dispersing agent. Moreover, HPMC has a significant application in ophthalmology, where it works as a lubricant and helps to alleviate eye irritation. The powder is also employed in industrial settings, such as inks, textile printing and dyeing, and papermaking.
Global Hydroxypropyl Methylcellulose Market
Growth Drivers
Increasing Use of HPMC in Pharmaceutical Applications
The growth of the global hydroxypropyl methylcellulose (HPMC) market is being fueled by the rising demand for this substance in pharmaceutical applications. This demand is being driven by the increasing use of HPMC as an excipient in drug formulations due to its excellent binding, thickening, and emulsifying properties. In addition, the growing popularity of plant-based medicines and the rising prevalence of chronic diseases are also contributing to the expansion of the market. As a result, manufacturers are investing in the development of new and innovative products to cater to the needs of the pharmaceutical industry. This, in turn, is expected to drive the growth of the hydroxypropyl methylcellulose market in the coming years.
Restraints
Rising Demand for Substitutes
The growth of the global hydroxypropyl methylcellulose market may face hindrances due to the increasing demand for substitutes. Some consumers may prefer to use other substances that can serve the same purpose as hydroxypropyl methylcellulose. Also, synthetic alternatives like polyvinylpyrrolidone (PVP) and hydroxyethyl cellulose (HEC) are also being used in various applications. The availability of such substitutes may lead to a decrease in demand for hydroxypropyl methylcellulose, thereby impacting the growth of the market. Manufacturers may need to address this challenge by innovating and developing new products with better properties and features to remain competitive in the market.
Impact of COVID-19 on Global Hydroxypropyl Methylcellulose Market
COVID-19 pandemic had a dual impact on the global hydroxypropyl methylcellulose market. The pandemic disrupted the supply chain of hydroxypropyl methylcellulose, leading to a shortage of raw materials and affecting the production of this substance. The lockdowns and restrictions imposed by governments across the world also affected the demand for hydroxypropyl methylcellulose, particularly in industries, such as construction and cosmetics, which witnessed a decline in demand due to the economic slowdown caused by the pandemic. On the other hand, the demand for hydroxypropyl methylcellulose in pharmaceutical applications increased during the pandemic. As healthcare systems across the world were overwhelmed by the pandemic, the demand for drugs and medicines surged, leading to an increase in the demand for excipients such as hydroxypropyl methylcellulose. Also, the pandemic created growth opportunities for the players in the hydroxypropyl methylcellulose market, particularly in the area of plant-based medicines and supplements, which have gained popularity as people look for ways to boost their immune systems.
Global Hydroxypropyl Methylcellulose Market
Segmental Coverage
Global Hydroxypropyl Methylcellulose Market – By Product
By product, the global hydroxypropyl methylcellulose market is divided into Industrial Grade HPMC, Pharmaceutical Grade HPMC, and Food Grade HPMC segments. The pharmaceutical grade hydroxypropyl methylcellulose (HPMC) segment holds the highest share in the global HPMC market. This can be attributed to the increasing demand for HPMC as an excipient in the pharmaceutical industry. HPMC is used in drug formulations as a binder, thickener, and stabilizer due to its excellent properties such as biocompatibility, controlled-release, and bio adhesion. With the rising demand for innovative drug delivery systems and the growing popularity of plant-based medicines, the demand for HPMC in the pharmaceutical industry is expected to continue to grow in the coming years. Also, the pharmaceutical grade HPMC segment is also expected to witness significant growth due to the increasing prevalence of chronic diseases and the growing demand for personalized medicine. As healthcare systems across the world face increasing pressure to provide better healthcare services, the demand for innovative drug formulations using HPMC as an excipient is expected to rise.
Global Hydroxypropyl Methylcellulose Market – By Application
Based on application, the global hydroxypropyl methylcellulose market is divided into Pharmaceutical, Buildings & Construction, Food & Beverages, Paints & Coatings, Personal Care, and Adhesives segments. The buildings & construction segment holds the highest share in the global hydroxypropyl methylcellulose (HPMC) market due to the widespread use of HPMC as a thickener, binder, and water-retention agent in various construction applications. HPMC is used in the construction industry as a key additive in cement-based products such as tile adhesives, grouts, renders, and mortars. It improves the workability, adhesion, and durability of these products, while also providing water retention and reducing cracking and shrinkage. Also, HPMC is used as a protective colloid in the production of gypsum-based products such as plasterboard and dry-mix mortars. The demand for these products is increasing globally due to the growing construction industry and rising urbanization. As a result, the demand for HPMC in the buildings and construction segment is expected to continue to grow in the coming years. Followed by, the pharmaceuticals application segment holding the second-largest revenue share in the global hydroxypropyl methylcellulose (HPMC) market. HPMC is commonly utilized as a thickener in alcohol-based hand sanitizers, and the outbreak of COVID-19 has significantly increased the demand for these products worldwide. The dosage of HPMC can be adjusted depending on the required viscosity, which can help optimize the production process and reduce operational costs. HPMC solutions with high viscosity are commonly used in eye drops because they are compatible with electrolytes and serve as effective thickening agents. Furthermore, the growing number of pharmaceutical companies in emerging economies is expected to boost the demand for HPMC in the pharmaceuticals segment.
Global Hydroxypropyl Methylcellulose Market – By Region
The in-depth research report on the global hydroxypropyl methylcellulose market covers various country-specific markets across five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia-Pacific region dominated the global HPMC market. The growth can be attributed to the increasing investments and demand in the construction and infrastructure industries, driven by the growing population. The European Federation of Chemical Engineering (EFCE) reports that China and India were major contributors to the global construction industry in 2020. According to the International Trade Centre (ITC), China and India accounted for 26.1% and 14.1% of this growth, respectively. India is one of the world's fastest-growing economies, and initiatives such as PM Aawas Yojana have led to a surge in construction and infrastructure demand. Apart from the construction industry, HPMC is widely used in the food industry in Asia Pacific for thickening, stabilizing, emulsifying, and suspending various food items. It is a popular substitute for gelatin in confectionery and bakery products and is also sought after by health-conscious consumers as it can reduce the fat content in food items. Furthermore, the strong growth in end-use industries such as construction and food and beverages are expected to drive the growth of the HPMC market in Asia Pacific during the forecast period.
Competitive Landscape
Major players operating in the global hydroxypropyl methylcellulose (HPMC) market include Ashland, Shin-Etsu Chemical Co., Ltd., Chemcolloid Limited, Zhejiang Haishen New Materials limited, DuPont de Nemours, Inc., CP Kelco U.S., Inc., Celotech Chemicals Co., Ltd., Hebei Yibang Building Materials Co., Ltd., and Changzhou Guoyu Environmental S&T Co., Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
In July 2021 - Dow Chemical Company announced its plans to execute a range of capacity expansions to cater to the surging global demand for eco-friendly and inventive additives in the rapidly expanding performance materials and coatings industries, as well as other high-growth markets that have emerged recently. These proposed expansions are anticipated to be financially beneficial for the company.
Scope of the Report
Attributes
Details
Years Considered
Historical Data – 2019–2022
Base Year – 2022
Estimated Year – 2023
Forecast Period – 2023–2029
Facts Covered
Revenue in USD Billion
Market Coverage
North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Product/ Service Segmentation
Product Type, Application, Region
Key Players
Ashland, Shin-Etsu Chemical Co., Ltd., Chemcolloid Limited, Zhejiang Haishen New Materials limited, DuPont de Nemours, Inc., CP Kelco U.S., Inc., Celotech Chemicals Co., Ltd., Hebei Yibang Building Materials Co., Ltd., Changzhou Guoyu Environmental S&T Co., Ltd.
By Product Type
Industrial Grade HPMC
Pharmaceutical Grade HPMC
Food Grade HPMC
By Application
Pharmaceutical
Buildings & Construction
Food & Beverages
Paints & Coatings
Personal Care
Adhesives
By Region
North America
Europe
Asia Pacific (APAC)
Latin America
Middle East and Africa (MEA)
Viscosity Range:
NDJ-4
Rotational viscometer
,
2%
aqueous solution
,
20
ºC
Grade
Viscosity Range(mpa.s)
Grade
Viscosity Range(mpa.s)
5
3-9
8000
7000-9000
15
10-20
10000
9000-11000
25
20-30
20000
15000-25000
50
40-60
40000
35000-45000
100
80-120
60000
Ding’ao Product Page
46000-65000
400
300-500
80000
66000-84000
800
700-900
100000
85000-120000
1500
1200-2000
150000
130000-180000
4000
3500-4500
200000
≥180000
Name
Hydroxypropyl methyl cellulose (HPMC)
Content of hydroxypropyl%
7.0-12.0
Content of Methoxyl %
26.0-30.0
Gel temperature
ºC
54-72
Ash(Wt%)
≤5
Water(Wt%)
≤1
PH
5-8
Appearance
White Powder or granula
Fineness
100mesh
≥
98.5%
;
80mesh
≥
100%
Surface Treatment
Cold water instant type: surface treatment
Ordinary hot melt type: without surface treatment
HPMC is odorless, tasteless,non-toxic cellulose ethers producted from natural hIgh molecular cellulose through series of chemical processing and achieved.It is white powder with good water solubility. It has thickening, adhesion ,dispersing, emulsifying, film, suspended, adsorption, gel, and protetive colloid properties of surface activity and maintain moisture function properties ect.
Application
*thermal insulation mortar, ceramic tile adhesive, jointing agent, stucco gypsum, plaster;
*paint thickening agent, dispersing agent and stabilizer;
*ink industry as the thickening agent, dispersing agent and stabilizer;
*plastic forming mold release agent, softener, lubricants;
*cement, gypsum secondary products;
*shampoo, detergent
Packing
25 kg plastic paper bag, inside with PE bags
Storage and Delivery
Prevent rain and sunny, prevent fire and damp, airtight ventilation preservation, according to non-dangerous goods shipping.
Hebei Shuangniu building materials cellulose Co., Ltd. (formerly Shijiazhuang Shuangniu building materials Co., Ltd.), locatesin Jinzhou, Hebei, one of the birthplace of cellulose ether in china. It is a high-tech enterprise engaged in scientific research, production and sales of hydroxypropyl methyl cellulose. It has its own right for export. Over the years, we uphold the strategic thought of safety, rational and sustainable development; We adhere to innovation, integrity and pragmatic. With profound cultural background and strong technological strength; on product quality and customer requirements ,we are willing to achieve mutual benefit new and old friends across the world.Our company was founded in 2006, with a total investment of 120 million CNY, coversing an area of 160 acres. There are staff of 300.the main product of cellulose ether annual output reaches 20000 tons. We bring German advanced production technology to achieve full automation., can meet a variety of production methods, and improve the rigorous testing process, stable and reliable product quality, the indicators are through the national chemical building materials test center monitoring, all conforms to the national standard. The main products are Shhuangniu brand, red Shuangniu brand, Xerox brand methyl cellulose, hydroxypropyl methyl cellulose, redispersible emulsion powder, mortar water retaining agent, Extrusion board, calcium methyl and other products.As a trustworthy partner, double ox building materials is committed to providing high quality products to help customers achieve greater success. We will be scientific management and pragmatic attitude, to play the overall advantages of modern enterprises, and the organic combination of economic development, environmental protection and social responsibility of the three pillars of improvement, development innovation, first-class products and services with the friends from all walks of life to establish extensive cooperation, shared interests, common development, achieve the harmonious Chinese dream.
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