The Latin America hydroxypropyl methylcellulose market size reached US$ 64.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 104 Million by 2028, exhibiting a growth rate (CAGR) of 8.36% during 2023-2028.
Hydroxypropyl methylcellulose (HPMC) or hypromellose is a semi-synthetic and viscoelastic polymer produced from the synthetic modification of alkali cellulose. It is inert, colorless, tasteless, soluble in water and acts as a lubricant in various ophthalmic procedures. It also exhibits thermo-gel properties and is commonly used in bath soaps, shampoos, cleansers and sunscreens. It is also used in numerous construction materials and as a replacement of gelatin in vegan food and bakery products. As a result, HPMC finds extensive applications across the food and beverage, construction, pharmaceutical and manufacturing industries.
The widespread adoption of HPMC as a vegetarian substitute for animal-sourced gelatin across the food and beverage industry is one of the key factors driving the market growth. Due to its thermal gelation, thickening and film-forming properties, it is widely used to modify and improve the taste and texture of the food products. Furthermore, significant growth in the pharmaceutical industry is creating a positive outlook for the market. HPMS is widely used in supplement capsules as a drug carrier, emulsifier and tablet binder. Moreover, the increasing utilization of HPMC in the manufacturing industry for the production of dyes, paints, textiles, water-based industrial coatings and adhesives, is providing a thrust to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Latin America hydroxypropyl methylcellulose market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on end use.
Breakup by End Use:
- Pharmaceuticals (Including Cosmetics)
- Food Industry
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|End Uses Covered
||Construction, Pharmaceuticals (Including Cosmetics), Food Industry, Others
||Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
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Key Questions Answered in This Report:
- How has the Latin America HPMC market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Latin America HPMC market?
- What are the key regional markets?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Latin America HPMC market and who are the key players?
- What is the degree of competition in the industry?