Global HPMC Market to Reach USD 6.64 billion by 2032

Hydroxypropyl methylcellulose, commonly known as HPMC or hypromellose, is a semisynthetic and modified form of cellulose. It is an odourless and tasteless compound having the appearance of a white to off-white powder. 

HPMC is a non-ionic type of cellulose and is chemically inert. When dissolved in water, it swells, thickens, emulsifies and forms protective colloids. HPMC also has adhesive, gelation, film-formation, water retention and other properties. It has multiple applications in various industries such as construction, cosmetics, medicine, food, textile, dairy products, etc. According to a new report by Expert Market Research, the global HPMC market reached a volume of USD 5.03 billion in 2023 and is further expected to reach USD 6.64 billion by 2032.

The production of HPMC witnessed a significant growth during 2018-2023 in the major producing countries. HPMC is majorly consumed in the construction sector, where it is used in tile adhesives, cement renders, paints and coatings, gypsum products, etc. Owing to its properties like thermal gelation, film-forming, thickening, etc., HPMC also substitutes animal gelatin in the food industry to modify and enhance the taste of food products. In the pharmaceutical industry, it is used as an excipient and controlled-delivery constituent in oral tablets or capsules, and as an ophthalmic lubricant. Rising population, increasing per capita income, changing consumer preferences, growing demand from end-use industries and innovation in various sectors are some of the factors stimulating the market growth.

Key findings from the report:

• The major end-uses of HPMC include construction, pharmaceutical (including cosmetics) and food industries. In 2020, construction represented the largest end-use segment with majority of the market share.

• Region-wise, China dominated the market with a share of more than a fifth of the total global production in 2020. It was followed by Western Europe, Other Asia, US, Central/Eastern Europe, Middle East and South America.

• The global HPMC market is surrounded by a number of players. Some of these players include Shin Etsu Tylose, Ashland, Dow Chemicals, Shandong Head Co. Ltd. and Samsung Fine Chemical.

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Expert Market Research has analysed the global HPMC market according to end-use industry, major regions and top players:

Market breakup by End-use Industry

• Construction

• Pharmaceutical (including Cosmetics)

• Food

Market breakup by Region

• North America

•  Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Top players

• Shin Etsu Tylose

• Ashland

• Dow Chemicals

• Shandong Head Co. Ltd.

• Samsung Fine Chemical

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