Hydroxypropyl Cellulose Market

Hydroxypropyl Cellulose Market Outlook (2022 to 2032)

Thet global sales of the Hydroxypropyl Cellulose market in 2021 was held at US$ 163.8 Million. Revenue through L-Hydroxypropyl Cellulose is expected to grow at a CAGR of 5.6% during 2022 to 2032.

Report Attributes	Details
Global Market CAGR (2022 to 2032)	5.6%
Global Market Size (2022)	US$ 173.8 Million
Global Market Size (2032)	US$ 299 Million
Key Companies Profiled	Ashland Global Holdings Inc.; Sidley Chemical Co. Ltd.; Nippon Soda Co., Ltd.; Shin-Etsu Chemical Co. Ltd.; Rayonierer Advanced Materials; Nouryon Holding B.V.; Shandong Head Europe BV; CP Kelco U.S. Inc.; DuPont; Akzo Nobel; MizudaHope; SE Tylose USA; TRC Canada; SIDLEY CHEMICAL CO. LTD.; Zhicheng Cellulose Co. Ltd.

Revenue of Hydroxypropyl Cellulose from 2015 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Hydroxypropyl Cellulose market research by Fact.MR – a market research and competitive intelligence provider, historically, from 2015 to 2021, the value of the Hydroxypropyl Cellulose (HPC) market increased at around 6.2% CAGR, wherein, countries such as the U.S., China, Japan, U.K, and South Korea held a significant share in the global market.

Demand for products used to wind premium yarn, paper, personal care products, construction supplies, pharmaceuticals, oil field chemicals, textiles, and food is at least expected to increase over the next ten years, leading to growth in the market for hydroxypropyl cellulose. Hydroxypropyl cellulose is used to create polyvinyl chloride processing, encapsulation, binders, molding, printing inks, adhesives, plastic foams, aerosols, paper, and medicine.

Furthermore, rising demand for packaged food products is expected to benefit the market, as hydroxypropyl cellulose as food additive has been approved for use by the US Food and Drug Administration. It is also used as a dispersant in the polyvinyl chloride processing stages. The hydroxypropyl cellulose industry is expected to grow in response to the rising demand for frozen and packaged foods. The hydroxypropyl cellulose market growth is expected to be aided by the expanding construction and infrastructure industries.

Owing to this, the Hydroxypropyl Cellulose market is projected to grow at a CAGR of 5.6% over the coming 10 years.

Rising Prevalence of Eye Disease has Consequently Led to a Demand Surge for Hydroxypropyl Cellulose Market. Check How?

Hydroxypropyl cellulose is used to treat keratoconjunctivitis sicca, recurrent corneal erosions, decreased corneal sensitivity, exposure, and neuroparalytic keratitis, all of which are ophthalmic medical conditions characterized by insufficient tear production. Demand for hydroxypropyl cellulose in the pharmaceutical industry is generated owing to its characteristics of a thickener, a low-level tablet binder, an emulsion, and a stabilizer.

According to the World Health Organization, approximately 1.3 Bn people worldwide had some form of vision impairment in 2018. The rising prevalence of eye diseases is also driving up demand for hydroxypropyl cellulose in ophthalmic drugs.

It is a type of cellulose ether that has been chemically modified. The most prevalent applications of cellulose ethers in the food and beverage industries are viscosity agents, stabilizers, and thickeners. Its growing applications in the food sector meet the need for Hydroxypropyl cellulose. It can also be used as a substitute for other substances like xanthan and guar gum because it is a natural ingredient. Because of the lower manufacturing costs, it is a better option, and its global market is gradually expanding.

Government regulations on the widely permissible use of hydroxypropyl cellulose in food and beverage products, as well as similar products in the pharmaceutical and personal care industries, are expected to deter market growth. Regulatory and logistical challenges will be difficult for industry participants as well.

What Factors are driving the North America Hydroxypropyl Cellulose Market?

The escalating demand for mortar, coatings, spray paints, cement tiles, and latex putty in the construction industry has driven the hydroxypropyl cellulose market in North America for over 50 years. Hydroxypropyl Cellulose has a relatively low ash content, good film-forming ability, high salt tolerance, good water retention, ability to thicken substances, and enzyme resistance. Hydroxypropyl Cellulose is used in the construction, pharmacy, cosmetics, ceramics, and food industries. Affecting how much water stays in a market due to its use to increase a product's adhesive impact, this polymer has contributed to its sales growth across the market.

Region-wise Analysis

What Region dominates the Hydroxypropyl Cellulose market?

Hydroxypropyl Cellulose Market in North America is projected to reach a valuation of US$ 106.7 Mn by 2032. The forecast for the business is viewed positively due to the growing demand for cleaner HPC capsules, which are replacing animal-origin products, as well as the expanding popularity of veganism.

Furthermore, rising awareness of HPC's benefits in the pharmaceutical industry is helping to propel the market forward. HPC products, for example, help with ophthalmic lubrication and serve as important emulsifying and thickening agents in ointments, lotions, and creams. Furthermore, significant expansion in construction projects across the United States is propelling the market forward. HPC has a high water-retention capacity, which helps to strengthen the mortar as it solidifies.

The increasing use of high-performance computing in drug discovery is a driving force behind the growth of the gelatine substitute trade. Additional factors driving the expansion include its growing popularity as a vegan alternative to gelatin in a number of baking and confectionery items.

How Asia Pacific is expected to Showcase Significant Growth Opportunities in Hydroxypropyl Cellulose Market?

During the forecast period, Asia-Pacific region is expected to dominate the hydroxypropyl cellulose market revenue. Demand for hydroxypropyl cellulose in the region is expected to be driven by rising ophthalmic drug demand in developing countries such as China, India, and Japan.

Asia-Pacific region is home to the world's largest producers of hydroxypropyl cellulose. Some of the key providers of hydroxypropyl cellulose in the region are NIPPON SODA CO. LTD, Shin-Etsu Chemical Co. Ltd, Shandong Head Europe BV, Ashland, and DuPont. The cosmetics market is being boosted by a growing awareness of personal appearance and a significant increase in disposable incomes, which is driving up demand for hydroxypropyl cellulose in the Asia Pacific.

Country-wise Analysis

U.S. Hydroxypropyl Cellulose Market Analysis

U.S. accounts for significant share in the hydroxypropyl cellulose market. Owing to the shale gas boom, technological advancements, and increased oil exports, the United States holds the largest market globally. Shale gas production has risen dramatically in recent years, and natural gas demand is expected to rise throughout the forecast period, consequently leading to the hydroxypropyl cellulose demand surge.

Owing to these factors, the demand for hydroxypropyl cellulose in the U.S. is projected to reach a valuation of US$ 106.7 Mn by 2032. The market during 2022 – 2032 is projected garner an absolute dollar opportunity of US$ 43.5 Mn.

U.K. Hydroxypropyl Cellulose Market Analysis

The hydroxypropyl cellulose market in the U.K. is projected to gross a valuation of US$ 12.5 Mn BY 2032. The market in the country is likely to register an absolute dollar opportunity of US$ 4.5 Mn during 2022  to 2032, growing at a CAR of 4.6% during this period.

Japan Hydroxypropyl Cellulose Market Analysis

The market for hydroxypropyl cellulose in Japan is expected to generate an absolute dollar opportunity of US$ 6.6 Mn during 2022 to 2032, growing at a CAGR of 4.7%. The market is expected to reach a valuation of 17.9 Million by 2032.

South Korea Hydroxypropyl Cellulose Market Analysis

The hydroxypropyl cellulose market in South Korea is likely to reach a valuation of US$ 10.8 Mn by 2032. With an absolute dollar opportunity of US$ 3.7 Mn during 2022 to 2032, the market is likely to grow at a CAGR of 4.2% during the forecast period.

Category-wise Insights

Why L-Hydroxypropyl Cellulose Dominates Hydroxypropyl Cellulose Market?

In 2021, L-Hydroxypropyl Cellulose held the largest market share and is projected to witness revenue growth of 5.9% CAGR. Various ratios of hydroxypropyl cellulose-L (L-HPC) and various types of microcrystalline cellulose (MCC) are being used in the production of printable filaments in a 3:1 minimum order ratio for disintegrants.

Medical grade hydroxypropyl cellulose (L-HPC) is a type of low-substituted hydroxypropyl cellulose (L-HPC) specifically designed for use in medical applications. It has antibacterial, antifungal, and moisture control properties, making it ideal for use in the pharmaceutical industry.

L-hydroxypropyl cellulose is suited to tableting and encapsulation due to its anti-caking properties. By the pharmaceutical industry, its L-HPC is often used as a disintegrant. It also offers a boost in the shelf life and consistency of a variety of foods, such as dairy, meat, and beverages.

The oil field chemicals segment dominated the market with a share in 2021 in application Insights. Check How?

Among applications, Oil field chemicals garnered the most revenue with a CAGR of 5.6%. Chemicals used in the extraction of oil and gas are known as oilfield chemicals. Increasing demand for hydroxypropyl cellulose in petroleum activities including drilling, well stimulation, production, cementing, improved oil recovery, and hydraulic fracturing, will drive the growth.

Demand for petroleum chemicals is also expected to increase as oil output is steadily increasing, diversified drilling techniques are being utilized, and the number of operations is improving. Specialized petroleum chemicals in various applications include wireline and coiled tubing construction.

Hydroxyethylcellulose and carboxymethyl cellulose are the primary raw materials used in the synthetic manufacturing of petrochemicals. In parallel, the development of environmentally friendly oilfield chemicals is a big exciting growth prospects.

Competitive Analysis

Only a few major players dominate the hydroxypropyl cellulose Industry , which is partially consolidated in nature. Ashland Global Holdings Inc., Sidley Chemical Co. Ltd., Nippon Soda Co., Ltd., Shin-Etsu Chemical Co., Ltd., and Shandong Head Europe BV are among the key companies.

Some of the recent developments in the Hydroxypropyl Cellulose Industry are as follows :

• In October 2021, Rayonier Advanced Materials announced that it will increase prices for all Cellulose Specialties items by 15 to 30%, depending on item grade, as long as agreements allow. The goal of this spike is to help the supply company counteract the effects of rising costs on its global inventory network.
• In August 2021, Nouryon announced its plans to open a new production facility in Southeast Asia, to meet the growing demand for innovative and practical materials for developing paints and coatings. Nouryon's Bermocoll business, which supplies hydroxyethyl cellulose (HEC) and other products to global and local clients, will benefit from a 15–20 kiloton limit.
• In May 2021, Rayonier Advanced Materials announced plans to invest in Anomera Inc., which created the Nxt-NR and CrystalAllur brand names for Cellulose Nanocrystals. Anomera focuses on a different stage within the cellulose-based innovation market, and this step is expected to encourage further development. This investment is anticipated to provide another step in expanding the firm's reach into new markets.

Similarly, recent developments related to companies offering Hydroxypropyl Cellulose have been tracked by the team at Fact.MR, which are available in the full report

Market Segments Covered in Hydroxypropyl Cellulose Industry Analysis

• By Type :

  • L-Hydroxypropyl Cellulose
  • H-Hydroxypropyl Cellulose

• By Application :

  • Oil Field Chemicals
  • Paints and Adhesives
  • Pharmaceuticals
  • Personal care & cosmetic
  • Food & beverage
  • Construction
  • Paper and Textile
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • The Middle East and Africa
  • Latin America