Global Hydroxypropyl Cellulose Market to Grow at a CAGR of 4% During 2024-2032, Aided by the Rising Demand for Ophthalmic Drugs

The Asia Pacific is predicted to emerge as the one of the major markets for hydroxypropyl cellulose during the forecast period owing to the shifting of FMCG and other manufacturing bases to Asian countries such as China, India, Malaysia, and Indonesia. Europe and North America have witnessed significant growth in the hydroxypropyl cellulose industry. The utilisation of hydroxypropyl cellulose in various sectors such as electrical insulators, edible food coating, film coating, paper, textile coating, whipped compounds, emulsion creams, lotions, shampoos, foamed tubes, printing inks, and tablet binders is anticipated to drive the market in the coming years.

In 2016, Ashland Global Holdings Inc. (NYSE: ASH), the American based chemical company which is one of the major producers of hydroxypropyl cellulose, expanded the production capacity of its Klucel hydroxypropyl cellulose (HPC) product line. This move will strengthen the company’s position in the global market. Manufacturers are emphasising on customisation of the product to cater to the specific needs of various sectors, which is expected to inform the market growth in the coming years. However, stringent government regulations regarding the usage of hydroxypropyl cellulose in pharmaceutical, personal care, and food and beverages could hamper the market growth.

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Market Analysis by Type, Application, and Region:

• The market based on type can be divided into L-hydroxypropyl cellulose and H-hydroxypropyl cellulose.
• Based on the application, the industry can be divided into food and beverages, cosmetics and personal care, pharmaceutical, construction, paper and textile, oil and field chemical, and paints and adhesives, among others.
• The regional markets for hydroxypropyl cellulose include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for hydroxypropyl cellulose is being driven by the rising demand for ophthalmic drugs.
• The rising adoption of the product in the food and beverage industry as a thickener and binder is providing an impetus for the growth of the market.
• Rising disposable incomes are expected to aid the hydroxypropyl cellulose industry growth further.
• Moreover, increasing construction and infrastructure activities are anticipated to aid the market development in the coming years.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for hydroxypropyl cellulose for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and major regions of hydroxypropyl cellulose.
• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hydroxypropyl cellulose market are Ashland Global Holdings Inc., Sidley Chemical Co. Ltd., Nippon Soda Co., Ltd., Shin-Etsu Chemical Co. Ltd., Shandong Head Europe BV, Hangzhou Showland Technology Co. Ltd, and Shandong Xinhua Pharmaceutical Co. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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