North America Hydroxypropyl Methylcellulose (HPMC) Market to Grow at 6.08% During 2024-2032, Driven by the Increasing Construction Activities

July 25, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “North America Hydroxypropyl Methylcellulose (HPMC) Market: Regional Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the North America hydroxypropyl methylcellulose (HPMC) market is expected to grow at a CAGR of 6.08% during 2024-2032. Hydroxypropyl Methylcellulose (HPMC) is a versatile compound widely used in various industries for its unique properties and functions. It is a semi-synthetic polymer derived from cellulose; a natural polymer found in plants. HPMC is created by modifying cellulose through a chemical process that involves adding hydroxypropyl and methyl groups to its molecular structure. HPMC is soluble in water and forms a transparent, viscous solution. It exhibits excellent water retention properties, thus making it ideal for applications that require moisture control. It is commonly used as a thickener, binder, emulsifier, and film-former in a wide range of products. In the construction industry, HPMC is utilized in cement-based mortars, tile adhesives, and other construction materials to enhance viscosity, adhesion, and workability. In the pharmaceutical industry, it is used as a coating agent in tablets and capsules, providing controlled-release drug delivery. HPMC also finds applications in personal care products, such as lotions, creams, and shampoos, as a thickening agent and film former. HPMC offers numerous advantages, including improved texture, stability, and extended-release profiles. It is considered a safe and non-toxic material, and it is biodegradable, making it an attractive choice for industries that prioritize sustainability and environmental consciousness.

North America Hydroxypropyl Methylcellulose (HPMC) Market Trends:

The rising construction industry represents one of the key factors driving the growth of the hydroxypropyl methylcellulose (HPMC) market across North America. This, coupled with the increasing utilization of hydroxypropyl methylcellulose as a thickener and binder in construction materials, such as cement-based mortars, tile adhesives, and gypsum-based products, is acting as a major growth-inducing factor. The growing construction activities, infrastructure development, and renovation projects in North America are driving the demand for HPMC in the region, which is boosting the growth of the market. The market is also driven by the rising pharmaceutical industry, which is a major consumer of HPMC. In line with this, HPMC is utilized as a coating agent in pharmaceutical tablets and capsules, enabling controlled-release drug delivery systems. The increasing focus on patient compliance and the development of novel drug formulations are propelling the demand for HPMC in the pharmaceutical sector, which is fueling the growth of the market. In line with this, the rising trend toward eco-friendly and sustainable materials across industries is contributing to the growth of the market. HPMC is considered a green alternative due to its biodegradability and low toxicity. The rising preference for HPMC over other synthetic polymers due to environmental regulations becoming more stringent is driving the market growth. Manufacturers are investing in the development of bio-based HPMC derived from renewable sources. This, coupled with the increasing demand for sustainable solutions across industries is contributing to the market growth. Apart from this, HPMC is used as a thickener and film-forming agent in lotions, creams, shampoos, and makeup products. The rising consumer demand for natural and organic personal care products, coupled with the versatility of HPMC in providing texture, stability, and improved sensorial attributes, is creating a positive outlook for the market across the region.

Market Summary:

Based on end-use, the market has been segregated into construction, pharmaceutical (including cosmetics), food industry, and others.
On a geographical front, the market has been segmented into the United States, Canada, and Mexico.
The competitive landscape of the market has also been examined with the profiles of some of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	End-Use, Country
Countries Covered	United States, Canada, Mexico
Customization Scope	10% Free Customization
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North America Hydroxypropyl Methylcellulose (HPMC) Market to Grow at 6.08% During 2024-2032, Driven by the Increasing Construction Activities

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