May 28, 2023

Hydroxypropyl Methylcellulose Global Market Report 2023

Major players in the hydroxypropyl methylcellulose market are Celotech Chemical Co Ltd., Zhejiang Kelain New Materials Co Ltd., Shin-Etsu Chemical Co Ltd, Ashland Global Specialty Chemicals Inc, DuPont de Nemours Inc, Colorcon Inc, Lotte Fine Chemical Co Ltd, Shandong Head Co Ltd, Shijiazhuang Shangdun Cellulose Co Ltd, Fenchem Biotek Ltd, Mitsubishi Chemical Group Corporation, Paramount Chemical & Acid Corporation, Universal Mine Chem, Paras Enterprises, and Madhu Hydrocolloids Pvt.

New York, June 01, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Hydroxypropyl Methylcellulose Global Market Report 2023" - Ltd.The global hydroxypropyl methylcellulose market is expected to grow from $4.14 billion in 2022 to $4.40 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hydroxypropyl methylcellulose market is expected to reach $5.50 billion in 2027 at a CAGR of 5.7%.The hydroxypropyl methylcellulose market consists of sales of hypromellose 2208 (K chemistry or grade) and hypromellose 2910 (E chemistry or grade).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.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.Asia-Pacific was the largest region in the hydroxypropyl methylcellulose market in 2022.Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.The main types of hydroxypropyl methylcellulose are pharmaceutical grade and industrial grade.Pharmaceutical-grade product refers to a material that has received FDA (The United States Food and Drug Administration) approval for use in food for people or animals and that satisfies strict purity requirements.The various sales channels are direct sales and indirect sales and are used by various industries such as construction, pharmaceuticals (including cosmetics), food industries and others.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 July 2021, according to the Australian Institute Of Health And Welfare, national agency for information and statistics on Australia's health and welfare, in 2020–21, the Australian Government recorded $13.9 billion in spending on all Pharmaceutical Benefits Scheme (PBS) and Repatriation Pharmaceutical Benefits Scheme (RPBS) medicines, which was an increase of 8.4% in spending compared with 2019–20. Therefore, the rise in spending for the pharmaceutical sector is driving the growth of the hydroxypropyl methyl cellulose market.Product innovations have emerged as the key trend gaining popularity in the hydroxypropyl methylcellulose market.Major companies operating in the hydroxypropyl methylcellulose market are developing innovative products to strengthen their position in the market.For instance, in May 2021, Evonik Industries AG, a Germany-based specialty chemical company introduced EUDRACAP, a ready-to-use capsule made up of hydroxypropyl methylcellulose to optimize the release profile of oral drug products.The coated HPMC (hydroxypropyl methylcellulose) capsules are particularly well adapted to safeguard delicate active pharmaceutical ingredients against gastric acid and moisture for the effective release of active ingredients and operate without a hitch on fully automated machines at full speed during active ingredient filling or production.Additionally, it supports the development and marketing of sophisticated oral medications that employ delicate components, including biologicals.The rise in the construction sector is expected to propel the growth of the hydroxypropyl methylcellulose market going forward.Construction refers to the altering, building, repairing, planning, acquiring, and designing of a structure of any private or public building that involves the assembly and erection of structures using various engineering techniques to provide better buildings and infrastructure.Hydroxypropyl methylcellulose is used in the construction industry as a water-retaining agent and retarder of cement mortar which makes the mortar pumpable and it also keeps mortar slurry from cracking as a result of drying too quickly after smearing and increases its strength in the structure. For instance, in September 2021, Oxford Economics, a US-based leader in global economic forecasting and econometric analysis, world construction output is expected to increase by 42%, or US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion due to a rise in population and urbanization in emerging economies that stimulate demand for infrastructure and residential construction. Therefore, the rise in the construction sector is driving the growth of the hydroxypropyl methylcellulose market.The countries covered in the hydroxypropyl methylcellulose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The hydroxypropyl methylcellulose market research report is one of a series of new reports that provides hydroxypropyl methylcellulose market statistics, including hydroxypropyl methylcellulose industry global market size, regional shares, competitors with a hydroxypropyl methylcellulose market share, detailed hydroxypropyl methylcellulose market segments, market trends, and opportunities, and any further data you may need to thrive in the hydroxypropyl methylcellulose industry. This hydroxypropyl methylcellulose market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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