- Based on end-use, the report finds that the construction industry currently represents the largest end-use segment of HPMC.
- On a geographical front, China enjoys the leading position in the global HPMC market, accounting for the majority of the total global market.
- Global HPMC Market Driven by Increasing Demand from Pharmaceutical Industry.
According to the latest report by IMARC Group, the global HPMC market reached a value of $3.851 billion in 2018, growing at a CAGR of 8.4% during 2011-2018.
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.