The new report by Expert Market Research titled, ‘Global HPMC Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global HPMC market size, assessing the market based on its segments like are end-uses and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.0%
HPMC is utilised in the production of various pharmaceutical components, such as eye drops, supplement capsules, tabletting agent, and drug carrier, among others. In this regard, the thriving pharmaceutical industry is driving the demand for HPMC.
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Over the forecast period, the anticipated increase in the demand for HPMC as a thickening agent in paints and inks is likely to be a major growth driving factor for the market. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the large population base in the continent leading to a heightened demand for HPMC in the food industry.
HPMC Industry Definition and Major Segments
Hydroxypropyl methylcellulose is defined as a compound containing repetitive units of hydroxypropyl methylcellulose. It is a chemically modified polymer of cellulose, which can be consumed by humans. The appearance of this polymer is off-white and is applied as a crucial ingredient in vegan-friendly products. It is also a crucial component in industrial manufacturing.
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On the basis of end-use, the market can be segmented into the following:
- Pharmaceutical (Including Cosmetics)
- Food Industry
The regional markets for HPMC include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
HPMC Market Trends
The key trends in the HPMC market include the growing expansion of the construction industry owing to the rapid urbanisation and increasing standards of living across the emerging economies. Meanwhile, the growing research and development activities in the pharmaceutical industry aimed towards analysing the potential usage of HPMC are likely to be the crucial trends in the market. Moreover, HPMC is a widely used in the cosmetic manufacturing. In this regard, the increasing demand for cosmetic products, owing to the thriving e-commerce industry and increasing per capita income in the developing countries, is likely to aid the market growth in the coming years.
Key Market Players
The major players in the market are ShinEtsu (SE Tylose GmbH & Co. KG), Ashland, Dow, and LOTTE Fine Chemical, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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