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The Asia Pacific is predicted to emerge as the one of the major markets for hydroxypropyl cellulose during the forecast period owing to the shifting of FMCG and other manufacturing bases to Asian countries such as China, India, Malaysia, and Indonesia. Europe and North America have witnessed significant growth in the hydroxypropyl cellulose industry. The utilisation of hydroxypropyl cellulose in various sectors such as electrical insulators, edible food coating, film coating, paper, textile coating, whipped compounds, emulsion creams, lotions, shampoos, foamed tubes, printing inks, and tablet binders is anticipated to drive the market in the coming years.
In 2016, Ashland Global Holdings Inc. (NYSE: ASH), the American based chemical company which is one of the major producers of hydroxypropyl cellulose, expanded the production capacity of its Klucel hydroxypropyl cellulose (HPC) product line. This move will strengthen the company’s position in the global market. Manufacturers are emphasising on customisation of the product to cater to the specific needs of various sectors, which is expected to inform the market growth in the coming years. However, stringent government regulations regarding the usage of hydroxypropyl cellulose in pharmaceutical, personal care, and food and beverages could hamper the market growth.
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The major players in the global hydroxypropyl cellulose market are Ashland Global Holdings Inc., Sidley Chemical Co. Ltd., Nippon Soda Co., Ltd., Shin-Etsu Chemical Co. Ltd., Shandong Head Europe BV, Hangzhou Showland Technology Co. Ltd, and Shandong Xinhua Pharmaceutical Co. Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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