Hydroxypropyl methylcellulose (HPMC) Market Size, Share, Trends, Growth 2030

Hydroxypropyl Methylcellulose (HPMC) Industry Prospective:

The global hydroxypropyl methylcellulose (HPMC) market size was worth around USD 1963 million in 2022 and is predicted to grow to around USD 2545 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.30% between 2023 and 2030.

Request Free Sample

The report delves deeper into several crucial aspects of the global hydroxypropyl methylcellulose (HPMC) industry. It includes a detailed discussion of existing growth factors and restraints. Future growth opportunities and challenges that impact the hydroxypropyl methylcellulose (HPMC) market are comprehensively addressed in the report.

Hydroxypropyl Methylcellulose (HPMC) Market: Overview

Hydroxypropyl methylcellulose (HPMC) is a form of synthetic polymer which is derived from cellulose. It has extensive applications in several industries such as pharmaceuticals, cosmetics, and food production. Cellulose is a naturally-occurring polysaccharide that is found in the cell walls of plants. HPMC is produced by modifying cellulose using a chemical reaction with methyl chloride and propylene oxide. The resultant compound has a structure formed by a combination of methyl and hydroxypropyl groups, attached to the cellulose backbone. The exact characteristics of HPMC may vary depending on the viscosity of the product and the degree of substitution (DS) which refers to the average number of modified hydroxyl groups present on the cellulose molecule. These properties can be changed or adjusted during the manufacturing process allowing service providers to cater to different end-user requirements.

Key Insights:

• As per the analysis shared by our research analyst, the global hydroxypropyl methylcellulose (HPMC) market is estimated to grow annually at a CAGR of around 3.30% over the forecast period (2023-2030)
• In terms of revenue, the global hydroxypropyl methylcellulose (HPMC) market size was valued at around USD 1963 million in 2022 and is projected to reach USD 2545 million, by 2030.
• The hydroxypropyl methylcellulose market is projected to grow at a significant rate due to the growing applications of HPMC in the construction industry
• Based on application segmentation, building & construction was predicted to show maximum market share in the year 2022
• Based on product type segmentation, industrial-grade HPMC was the leading type in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

Request Free Sample

Hydroxypropyl Methylcellulose (HPMC) Market: Growth Drivers

Growing applications of HPMC in the construction industry to drive market growth

The global hydroxypropyl methylcellulose (HPMC) market is projected to grow owing to the increasing applications of HPMC in the construction sector. HPMC is used as a cement additive since it aids in the improvement of water retention, workability, and adhesion properties of cement-based components such as mortars, renders, and tile adhesives. As the world is currently registering high demand for residential and commercial units along with rampant industrialization, the consumption of HMPC is likely to register higher revenue. Regional governments have intensified infrastructure development projects on a massive scale. Between 2017 and 2021, the Ministry of Infrastructure Development in the United Arab Emirates (UAE) launched 36 new infrastructure projects worth over USD 2690 million. The same trend is observed in all nations including developing or underdeveloped economies.

Hydroxypropyl Methylcellulose (HPMC) Market: Restraints

Intense competition from alternate solutions to restrict market expansion

HPMC is widely used as an additive in several industries. However, there is a range of options available in every sector in terms of efficient additives. For instance, in the construction industry, some commonly used additives are polycarboxylate ether (PCE) and polyvinyl alcohol (PVA) which are also referred to as cement additives. Some of these substitutes are relatively less priced and showcase reduced price volatility causing many end-users to seek

Growing inclination toward green and sustainable solutions across industries to provide growth opportunities

As world leaders and private companies are being held accountable for the impact of business operations on the environment and the growing awareness among the general population, there is a rapidly rising demand for innovating and adopting green and sustainable solutions. HPMC is derived from natural resources. It is biodegradable and hence fits in the exact description of an environment-friendly solution or raw material. HMPC industry players can explore this opportunity to position themselves as eco-friendly product suppliers.

Hydroxypropyl Methylcellulose (HPMC) Market: Challenges

Extreme price volatility of raw materials to challenge the market expansion

One of the primary concerns that limit the global sales volume of the hydroxypropyl methylcellulose industry is the price volatility of raw materials required to produce HPMC and extreme sensitivity to external conditions. Cotton, pulp, and wood are the key ingredients used to produce HPMC; however, the production and supply of these products are subject to market fluctuations influenced by environmental, social, and political factors. Constant changes in the base price of these ingredients along with unreliable supply may raise difficulties for operating companies to ensure profit and sustainability.

Hydroxypropyl Methylcellulose (HPMC) Market: Segmentation

The global hydroxypropyl methylcellulose (HPMC) market is segmented based on application, product type, and region.

Based on application, the global market is segmented into paints & coatings, pharmaceuticals, personal care, food & beverages, building & construction, and others. The segmental growth was dominated by the building & construction industry in 2022 due to the extensive advantages offered by HPMC when acting as a cement additive. For instance, it assists in improving water retention capabilities while also preventing premature drying along with improving cement hydration. Furthermore, it also enhances the adhesion properties of cement-based formulations. It is known to improve the bond strength between the mortar and the substrate, such as masonry and tiles, thus providing long-lasting performance. With the growing demand for structures that can withstand extreme and harsh environmental conditions, the application of HPMC is likely to be higher. Ideally, HMPC as a binder should be used in 2% to 5% weight/weight (w/w) portion.

Based on product type, the hydroxypropyl methylcellulose industry is divided into food-grade HMPC, pharmaceutical-grade HPMC, and industrial-grade HPMC. The highest CAGR was observed in the industrial-grade HPMC due to higher applications in the construction sector along with uses in paints and coatings and personal care industries. Food-grade HPMC is specially formulated to be used in the food industry where it is used as an additive for its thickening, stabilizing, and emulsifying properties. It is commonly found in food items including sauces, dressings, bakery items, and beverages. Pharmaceutical-grade HPMC is used for processes like tablet coatings and is also applied to achieve controlled-release formulations or as a binder in tablet manufacturing. The growing stringency in regulating products used in the pharmaceutical sector could trigger HPMC requirements. In 2021, the US pharmaceutical industry generated more than USD 550 billion in revenue.

Recent Developments:

• In November 2022, Roquette, a leading provider of pharmaceutical and nutraceutical excipients along with a presence in the plant-based ingredients segment, launched PEARLITOL 200 GT and PEARLITOL CR-H which are labeled to be next-generation direct compression solutions. They are meant to overcome challenges faced during drug formulation. PEARLITOL CR-H, a patented solution, is a mixture of HPMC and mannitol
• In April 2021, Celotech, a global supplier of cellulose ethers products, kicked off the National Gypsum Mortar and Vitrified Microbead Application Technology and Development Exchange Conference at Xinyang, Henan. The conference is dedicated to focusing on the vitrified microbeads and gypsum mortar technology and the exchange of high-quality resources

Hydroxypropyl Methylcellulose (HPMC) Market: Report Scope

Hydroxypropyl Methylcellulose (HPMC) Market: Regional Analysis

Asia-Pacific to deliver exceptional response during the coming years

The global hydroxypropyl methylcellulose (HPMC) market is projected to be dominated by Asia-Pacific during the forecast period. Countries such as Japan, India, and China along with contributions from other nations are likely to become major driving nations for regional growth. The primary reasons for higher CAGR in Asia-Pacific are increasing domestic consumption and the presence of a highly developed chemical industry in China and India. Japan is home to a large number of leading chemical manufacturers and in 2021, as per a report, the country’s total revenue from chemical exports reached 10.44 trillion Japanese yen.

Request Free Sample

Moreover, the intensive infrastructure development projects in Asian countries could lead to higher production of HPMC and its derived project. For instance, the Nantong-Ningbo High Speed Rail Line – Jiangsu project which was initiated in the fourth quarter of 2022 is worth USD 16,030 million.

Hydroxypropyl Methylcellulose (HPMC) Market: Competitive Analysis

The global hydroxypropyl methylcellulose (HPMC) market is led by players like:

• Ashland Global Holdings Inc.
• DowDuPont Inc.
• Shin-Etsu Chemical Co. Ltd.
• Lotte Fine Chemical
• China RuiTai International Holdings Co. Ltd.
• Shandong Head Co. Ltd.
• Samsung Fine Chemicals Co. Ltd.
• Reliance Cellulose Products Ltd.
• Zhejiang Kehong Chemical Co. Ltd.
• Anhui Shanhe Pharmaceutical Excipients Co. Ltd.
• JRS Pharma
• SE Tylose GmbH & Co. KG
• Shin-Etsu Chemical Europe BV
• Fengrun Chemical Industry Co. Ltd.
• Ashirwad Chemicals
• QINGDAO SINOCMC CHEMICAL CO. LTD.
• Shandong Yiteng New Material Co. Ltd.
• Weihe Enterprise Co. Ltd.
• DKS Co. Ltd.
• Shandong Aote Biology Technology Co. Ltd.
• CP Kelco
• Penn Carbose Inc.
• Henan Tiansheng Chemical Industry Co. Ltd.
• Hercules Chemicals (UK) Ltd.
• Yixing Hongbo Fine Chemical Co. Ltd.

The global hydroxypropyl methylcellulose (HPMC) market is segmented as follows:

By Application

• Paints & Coatings
• Pharmaceutical
• Personal Care
• Food & Beverages
• Building & Construction
• Others

By Product Type

• Food-Grade HMPC
• Pharmaceutical-Grade HPMC
• Industrial-Grade HPMC

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa