Increasing demand from end-use industries such as adhesives, paper, personal care, construction, pharmaceutical, oil field chemicals, textile, and food is expected to remain a key driving factor for hydroxypropyl cellulose market growth over the next seven years. It is a cellulose ether type, manufactured by chemical modification. Cellulose ethers are mostly used as viscosity agents, stabilizers, and thickeners. They are used for polyvinyl chloride (PVC) processing, aerosols, binders, cosmetics, encapsulation, molding, and printing inks, paint removers, adhesives, paper, pharmaceuticals, plastic foams, and extrusion products manufacturing and food & beverages. Growing demand from end-use industries such as plastics and adhesives is anticipated to complement market growth over the forecast period. Increasing packaged food demand is anticipated to be a key factor for hydroxypropyl cellulose market growth due owing to its approval by the Food & Drug Administrator (FDA) as a direct and indirect food additive. Rising health consciousness among consumers resulting in increasing low-fat food demand is slated to propel demand over the forecast period. Growing paper packaging and coating application such as metal is projected to drive demand over the next seven years.
Stringent government regulations in food & beverages, pharmaceutical and personal care industries regarding hydroxypropyl cellulose usage coupled with easy substitutes availability are projected to hinder hydroxypropyl cellulose market growth and pose challenges to industry participants. Recent R&D and innovation have resulted in technological improvement and unit operations enhancement scope. This is expected to yield opportunities to industry participants over the forecast period.
Asia Pacific is projected to emerge as leading regional hydroxypropyl cellulose market and witnesses considerable growth rate over the forecast period owing to shifting FMCGs and other consumer goods manufacturing base to emerging economies of Asia Pacific such as China, India, Indonesia, Malaysia, and Vietnam. Economic development in China, India and South East Asian economies has resulted in increasing per capita disposable income and purchase power parity. The aforementioned factors are anticipated to drive demand in this region owing to its wide application scope in FMCGs and other consumer goods. Huge industrial investment in Asia Pacific in end-use industries such as cosmetics and pharmaceuticals is slated to complement market growth. Middle East & Africa are expected to witness significant growth in the next seven years due to growing infrastructure and remodeling activities in the region. Countries such as Israel, Argentina, South Africa, Qatar, Saudi Arabia, Egypt, Iran, Brazil, and Kuwait are coming up with strong manufacturing infrastructure. Mature economies such as North America and Europe are expected to show recovery signs after the recent economic downturn. Rising demand from oil and gas industries owing to increased application scope in North America is anticipated to drive market growth in the region.
Hydroxypropyl cellulose market is a highly concentrated market characterized by competition based on price differentiation. Major players functioning in the market include Akzo Nobel N.V., HEAD, CP Kelco, Daicel Corporation, The Dow Chemical Company, HuzhouMizuda Hope Bioscience Co. Ltd., Lamberti S.p.A, SINOCMC Co. Ltd., Yixing Tongda Chemical Co. Ltd., ShinEtsu, TRC, SEPPIC, Ashland, Inc., Rui Tai, Shandong Liaocheng Pharmaceutical Ltd., Penn Carbose Inc., Sichem LLC, Hebei Tianwei Huagong Co. Ltd., and Hubei Widely Chemical Technology Co.Ltd
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
"The quality of research they have done for us has been excellent."
Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor.