Hydroxypropyl Cellulose (HPC) Market Size, Share, Growth, and Industry Analysis by Type (L-HPC and H-HPC), By Application (Pharma and Food) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Hydroxypropyl Cellulose (HPC) Market Report Overview

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The global hydroxypropyl cellulose (HPC) market size is USD 175 million in 2022 and is projected to touch USD 298.12 million by 2031, exhibiting a CAGR of 6.1% during the forecast period.

Hydroxypropyl cellulose (HPC) is a derivation of cellulose. It has both organic solubility and water solubility. It is used as a topical ophthalmic protectant, an excipient, and a lubricant.

High demand for HPC products globally is estimated to surge market growth. Growing demand for the product from the pharmaceuticals and construction sector is projected to drive market progress. Increasing investments from major players such as DowDupont Inc. and SABIC are predicted to fuel market growth. A rise in demand for the paper and packaging sector is estimated to expand market progress. The product has a great viscosity which is predicted to surge market growth. Growing awareness about the benefits of the product is anticipated to fuel market progress. This helps to improve the stability coupled with an anti-settling agent. These properties of the product are anticipated to accelerate market growth in the forthcoming years. However, the high cost of the product is predicted to restrict the market growth.  

COVID-19 Impact: Lack of Industrial Activities to Restrict Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with hydroxypropyl cellulose (HPC) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The shutdown of the painting sector during the pandemic hampered market growth.  Lack of industrial activities coupled with the closure of the construction sector to minimize market growth. However, the high demand for pharmaceutical and healthcare sectors boosted product adoption. Increase in COVID-19 patients and high demand for medicines or vaccines to foster market growth.

LATEST TRENDS

"Growing Demand for Low Viscosity and Increased Construction Activities to Raise Market Growth "

Increasing demand for low viscosity is estimated to surge market growth. The product is a type of hydrocolloid. It has a thickness and super-dependent properties which are predicted to fuel market growth. The molecular weight stretches from 100000 daltons to 2000000 daltons. Growing demand for the product from the construction sector is anticipated to surge market growth. It is added to the concrete mixture for its anti-settling agent properties. It offers an improved wet concrete mixture without harming the concrete’s strength. These properties of the product are estimated to propel market growth in the forthcoming years. High investment in ongoing research and development activities is anticipated to accelerate hydroxypropyl cellulose (HPC) market growth.

Hydroxypropyl Cellulose (HPC) Market Segmentation

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• By Type

Based on type, the market is divided into L-HPC and H-HPC.

H-HPC is estimated to be the leading part of type segmentation.

• By Application 

Based on application, the market is classified into Pharma and Food.

Pharma is estimated to be the leading part of application segmentation.

DRIVING FACTORS

"High Demand from Pharmaceutical Sector to Magnify Market Growth"

Increasing demand for the product from the pharmaceutical sector is estimated to surge market growth.  The product act as a thickening agent in several pharmaceutical applications. It is extensively mixed with water to help ease swallowing the tablets. The product is extensively used by patients. High demand from professionals and nurses is projected to drive market growth. Growing awareness about the benefits of the product is anticipated to fuel market progress. This helps to improve the stability coupled with an anti-settling agent. These properties of the product are anticipated to accelerate market growth in the forthcoming years. Further, the product helps to slow down stomach acids from breaking down the medicine. These factors are projected to drive market growth in the upcoming years. The product is also used in numerous products such as packing, sealants, adhesives, and food. In addition, it is used to carry water or sewage for its thickening agent. The product is mixed well with other chemicals to improve the stability of PVC. Such factors are forecasted to surge hydroxypropyl cellulose (HPC) market progress.

"Growth in Painting and Coating Sector to Stimulate Market Growth"

Increasing demand for the product from the painting and coating sector is estimated to propel market growth. The product has a great viscosity enhancer for paint or as a film former. These qualities of the product are anticipated to accelerate market growth. It also provides durability and gloss to the surface. These advantages of the product are anticipated to accelerate market growth in the forthcoming years. Further, the high demand for ink printing, and the product is extensively used in ink printing is projected to drive market growth. It has water resistance and durability properties which are used for printing applications. Also, it has surface leveling ability, opacity, glossiness, color strength, and viscosity control. These properties of the product are estimated to expand hydroxypropyl cellulose (HPC) market growth in the forthcoming years.

RESTRAINING FACTORS

"Higher Cost Associated with the Material to Impede Market Growth "

The high cost of the product is predicted to restrict the hydroxypropyl cellulose (HPC) market growth in the upcoming years.

Hydroxypropyl Cellulose (HPC) Market Regional Insights

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"Growing Demand for HPC Products in North America to Drive Market Share "

North America is projected to account for the highest share of hydroxypropyl cellulose (HPC) market share owing to the high demand for HPC products. Growing demand for the product from the pharmaceuticals and construction sector is projected to drive market progress. Increasing investments from major players such as DowDupont Inc. and SABIC are predicted to fuel market growth. A rise in demand for the paper and packaging sector is estimated to expand market progress. The product has a great viscosity which is predicted to surge market growth. Growing awareness about the benefits of the product is anticipated to fuel market progress.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the Industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Ashland (U.S.)
• Nippon Soda (Japan)
• Shin-Etsu (Japan)
• Huzhou Zhanwang (China)
• Anhui Shanhe (China)
• Shandong Ehua (China)
• Tai’an Ruitai (China)
• Shandong Head (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.