HYDROXYPROPYL METHYLCELLULOSE MARKET ANALYSIS

Hydroxypropyl Methylcellulose MarketSize and Trends

Market Outlook

Global hydroxypropyl methylcellulose market size was valued at US$ 3,851 million in 2018 and is projected to register a CAGR of 11.8% over the forecast period (2019-2027). The global market is driven by various growth factors such as high demand for low-fat foods and pharmaceutical products. Increasing demand for HPMC from the pharmaceutical industry is expected to propel the market growth during the forecast period. HPMC is majorly used for ophthalmology, acting as a lubricant. It reduces eye irritation and acts as a lubricant at the same time. This is expected to increase the demand for HPMC and thereby propel growth of the market. Furthermore, growing use of HPMC in food & beverage industry is expected to boost the market growth in the near future. HPMC finds applications in dairy products, bakery products, sauces, desserts, and toppings. Moreover, growing research and development activities to produce a substitute for gluten in grain bread is expected to drive growth of the market. Furthermore, increasing application of HPMC in paints and coatings, as a thickener, emulsifier, and a stabilizing agent is expected to propel the market growth.