HPMC Market Overview 2018: Global Demand, Trends, Growth, Share, Opportunities and Forecast till 2023
According to the latest report by IMARC Group, titled “HPMC (Hydroxypropyl Methylcellulose) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global HPMC (hydroxypropyl methylcellulose) market reached a value of US$ 3,611 Million in 2017, growing at a CAGR of around 7% during 2010-2017. Hydroxypropyl methylcellulose, also known as HPMC or Hypromellose, is an inert, viscoelastic and semisynthetic polymer without any distinct taste or odor. The chemical formula of HPMC is C56H108O30 and it is prepared by processing wood pulp or cotton linter with the solution of sodium hydroxide. It is used in surfactant systems owing to its foam enhancing characteristics. Apart from this, as HPMC is a plant-derived material with a low moisture content, it is considered to be a suitable vegetarian alternative for gelatin which has contributed towards its escalating demand in the baking and confectionary sectors.
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Global HPMC Market Trends:
Currently, the market is being driven by the extensive use of HPMC as a thickening agent in the production of paints where it helps in preventing sagging during the manufacturing process, achieving storage stability and providing optimum mechanical properties. In addition, the demand for HPMC is witnessing a rise across the pharmaceutical industry since it acts as a safe and non-toxic pharmaceutical excipient in the formulation of tablets. Moreover, it is gaining popularity among health-conscious consumers as it improves the physical properties of low-fat food products and is being used to reduce the fat content of regular items. However, the governments of several nations have implemented strict regulations related to the utilization of HPMC in various end-use industries, such as personal care, which can hinder the growth of the market. Despite this obstacle, the global HPMC market is projected to reach a value of US$ 5,269 Million by 2023.
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Global HPMC Market Summary:
- Based on end-use, the report finds that the construction industry currently represents the largest end-use segment of HPMC. It utilizes HPMC for varied purposes including water retention, binding, dispersing and thickening. The construction industry is followed by the pharmaceuticals (including cosmetics) and food industries.
- On a geographical front, China enjoys the leading position in the global HPMC market, accounting for the majority of the total share. The growth can be attributed to the flourishing pharmaceutical and food industries in the region. The other major markets include Western Europe, Other Asia, United States, Central/Eastern Europe, Middle East and South America.
- The competitive landscape of the market has also been analyzed with some of the key players being Shin Etsu Tylose, Ashland, Dow Chemicals, Shandong Head Co., Ltd and Samsung Fine Chemicals.
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