Global Hydroxypropyl Methylcellulose Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
29 May, 2023
The global hydroxypropyl methylcellulose market size 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 global hydroxypropyl methylcellulose market size is expected to reach $5.50 billion in 2027 at a CAGR of 5.7%.
Global Hydroxypropyl Methylcellulose Market Key Driver
A surge in pharmaceutical spending is likely to drive the hydroxypropyl methylcellulose industry forward. The pharmaceutical industry is one that is involved in the discovery, development, and manufacture of treatments and therapies that promote society's health and well-being. In the pharmaceutical industry, hydroxypropyl methylcellulose is used to treat dryness and irritability caused by decreased tear production, as well as to prevent eye injury. 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.
Get a sample of the global hydroxypropyl methylcellulose market reportGlobal Hydroxypropyl Methylcellulose Market Segments
The global hydroxypropyl methylcellulose market is segmented:
1) By Product Types: Pharmaceutical Grade, Industrial Grade
2) By Sales Channel: Direct Sale, Indirect Sale
3) By End Use: Construction, Pharmaceuticals (Including Cosmetics), Food Industry, Others End Uses
4) By Geography:The regions covered in the hydroxypropyl methylcellulose market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global hydroxypropyl methylcellulose market.
Major Hydroxypropyl Methylcellulose Industry Players
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, Madhu Hydrocolloids Pvt. Ltd.
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Hydroxypropyl Methylcellulose Market Overview
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.
Hydroxypropyl Methylcellulose Global Market Report 2023 provides data on the global hydroxypropyl methylcellulose market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hydroxypropyl methylcellulose market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.