Global Hydroxypropyl Methylcellulose Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Hydroxypropyl methylcellulose refers to the class of cellulose ethers in which one or more of the three hydroxyl groups found in the cellulose ring have been substituted for other hydroxyl groups, which is odorless and tasteless, white to slightly off-white with fibrous or granular properties. It is widely used in medicine delivery, dyes and paints, cosmetics, adhesives, coatings, agriculture, and textiles due to its hydrophilic, biodegradability, and biocompatibility.

Sizing and Forecast

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 in the historic period can be attributed to increased pharmaceutical industry applications, increase in food and beverage production, surge in cosmetic products, rise in demand for hydrophilic polymers, textile industry utilization, 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 growth in the forecast period can be attributed to focus on sustainable construction materials, growth in ready-to-eat meals industry, demand for low-fat foods, research in tissue engineering, waterborne paints and coatings market.. Major trends in the forecast period include innovation in hydrogels and biomaterials, customization of hpmc grades, advancements in drug delivery systems, biodegradable packaging, quality and purity standards..

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Segmentation & Regional Insights

The hydroxypropyl methylcellulose market covered in this report is segmented –

1) By Product Types: Pharmaceutical Grade, Industrial Grade
2) By Sales Channel: Direct Sale, Indirect Sale
3) By End Use: Construction, Pharmaceuticals (Including Cosmetics), Food Industry, Others End Uses

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

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Major Driver Impacting Market Growth

A rise in spending for the pharmaceutical sector is expected to boost the growth of the hydroxypropyl methylcellulose market going forward. The pharmaceutical industry refers to an industry involved in the discovery, development, and manufacture of drugs and medications that benefit society’s health and well-being. Hydroxypropyl methylcellulose is employed in the pharmaceutical sector that is used to treat dryness and irritability brought on by decreased tear production and aids in preventing eye damage. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, with an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the rise in spending for the pharmaceutical sector is driving the growth of the hydroxypropyl methyl cellulose market.

Key Industry Players

Major companies operating in the hydroxypropyl methylcellulose market are focusing on developing innovative products such as PEARLITOL CR-H, to provide a competitive edge in the market. PEARLITOL CR-H is a patented blend of mannitol and hydroxypropyl methylcellulose (HPMC), designed for controlled release drug formulation. For instance, in November 2022, Roquette is a France-based food company launched PEARLITOL CR-H. PEARLITOL CR-H is suitable for direct compression processes. PEARLITOL CR-H has excipient functional properties for tablet formulation. PEARLITOL CR-H provides alcohol and pancreatin resistance. Other functional qualities such as flowability are added by the co-processed mannitol and HPMC to enhance tablet processibility for PEARLITOL CR-H.

The hydroxypropyl methylcellulose market report table of contents includes:

1. Executive Summary

2. Hydroxypropyl Methylcellulose Market Characteristics

3. Hydroxypropyl Methylcellulose Market Trends And Strategies

4. Hydroxypropyl Methylcellulose Market – Macro Economic Scenario

5. Global Hydroxypropyl Methylcellulose Market Size and Growth

….

31. Global Hydroxypropyl Methylcellulose Market Competitive Benchmarking

32. Global Hydroxypropyl Methylcellulose Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Hydroxypropyl Methylcellulose Market

34. Hydroxypropyl Methylcellulose Market Future Outlook and Potential Analysis

35. Appendix

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