United States Hydroxypropyl Methylcellulose (HPMC) Market

United States Hydroxypropyl Methylcellulose (HPMC) Market Size:

The United States hydroxypropyl methylcellulose market size reached US$ 231.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 373.1 Million by 2032, exhibiting a growth rate (CAGR) of 5.27% during 2024-2032. The market is being driven by the increasing product incorporation in cement and mortar in the construction industry, the expanding pharmaceutical sector that utilizes it for controlled-release formulations, the flourishing popularity of processed and convenience foods where HPMC acts as a thickener, emulsifier, and stabilizer, and the growing personal care industry that employs the component in products like shampoos and lotions.

United States Hydroxypropyl Methylcellulose (HPMC) Market Analysis:

• Major Market Drivers: The market is propelled by drivers like the increasing demand in the construction sector due to its use in cement and mortar applications, the growing importance of HPMC in the pharmaceutical industry for its role in controlled-release drug formulations, and rising consumption in the food industry as a thickener, emulsifier, and stabilizer. Additionally, the expanding personal care industry uses HPMC in products such as shampoos, conditioners, and lotions.
• Key Market Trends: Some of the key trends in the United States hydroxypropyl methylcellulose (HPMC) market share include the widespread adoption of HPMC in eco-friendly construction practices, rising amalgamation in plant-based and gluten-free food products to cater to increasing demand for healthier dietary options, and rapid advancements in HPMS formulations for improved drug delivery systems in pharmaceuticals.
• Competitive Landscape: The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
• Challenges and Opportunities: Opportunities in the U.S. HPMC market include the expanding use in sustainable and eco-friendly construction materials, the growing demand for plant-based and gluten-free food products, and innovations in drug delivery systems. Challenges involve the fluctuating raw material prices, regulatory hurdles in the pharmaceutical and food industries, and competition from alternative materials. Addressing these challenges requires continuous innovation and adherence to stringent quality standards.

United States Hydroxypropyl Methylcellulose (HPMC) Market Trends:

Rising Demand in the Construction Sector

HPMC is extensively used in the construction industry for its ability to improve the performance of cement and mortar by enhancing water retention, workability, and adhesion. This has driven significant demand, particularly with the growth of sustainable and green building practices. In line with this, regional governments have intensified infrastructure development projects on a massive scale, which is promoting product adoption across the sector. For instance, in November 2021, the 117th United States Congress enacted the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA), also known as the Bipartisan Infrastructure Law, allocating $1.25 trillion for transportation, energy, water, and broadband projects over the next five to ten years.

Expanding Pharmaceutical Industry

In the pharmaceutical industry, HPMC is essential for controlled-release drug formulations, offering benefits such as prolonged release and stability of active ingredients. The expanding U.S. pharmaceutical sector drives this demand, fueled by rising healthcare needs and innovations in drug delivery. Pharmaceutical-grade HPMC is used for tablet coatings and controlled-release formulations, as well as a binder in tablet manufacturing. Increasing regulatory stringency in the pharmaceutical sector could further boost HPMC demand. In 2022, North America accounted for 52.3% of world pharmaceutical sales. According to IQVIA (MIDAS May 2023), 64.4% of sales of new medicines launched during the period 2017-2022 were on the US market, compared with 16.4% on the European market (top 5 markets).

Rising Demand for Personal Care Products

Rising demand for personal care products drives the United States hydroxypropyl methylcellulose (HPMC) market size as HPMC is a key ingredient in formulations like shampoos, conditioners, lotions, and creams. It acts as a thickener, emulsifier, and stabilizer, enhancing product texture and consistency. The growing consumer focus on grooming and hygiene, coupled with the expanding market for organic and natural personal care products, fuels increased usage of HPMC, thereby boosting market growth. For instance, the Bureau of Labor Statistics, a U.S.-based government agency, reported that average consumer expenditure on personal care products rose by 12.3% in 2022. Furthermore, in May 2024, Ashland Global Holdings Inc. acquired the personal care business from Schülke & Mayr GmbH for €262.5 million in an all-cash transaction. This acquisition was enacted with an aim to immediately enhance Ashland's earnings per share. The move also aligns with Ashland’s ESG agenda by catering to the 'clean beauty' trend.

United States Hydroxypropyl Methylcellulose (HPMC) Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2024-2032. Our report has categorized the market based on end use.

Breakup by End Use:

• Construction
• Pharmaceuticals (Including Cosmetics)
• Food Industry
• Others
   

Construction accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the end use. This includes construction, pharmaceuticals (including cosmetics), food industry, and others. According to the report, construction represented the largest segment.

The construction industry dominates the U.S. hydroxypropyl methylcellulose (HPMC) market due to HPMC's critical role in enhancing the performance of construction materials. It improves water retention, workability, and adhesion in cement and mortar, making it indispensable for building and infrastructure projects. The rising demand for sustainable construction practices further drives HPMC use, as it contributes to eco-friendly building materials. Consequently, the construction sector's substantial growth and modernization efforts significantly boost HPMC market demand.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major markets in the region, which include Northeast, Midwest, South, and West.

The HPMC market in the Northeast is fueled by strong construction activities in urban centers like New York and Boston and a thriving pharmaceutical industry. In the Midwest, industrial manufacturing, agriculture, and the food industry drive HPMC demand, particularly in cities like Chicago and Detroit. The South's market is propelled by booming construction in Texas and Florida, an expanding pharmaceutical sector, and population-driven growth in the food industry. The West sees significant HPMC demand from construction in California and Washington, the tech industry in Silicon Valley, and a focus on sustainable building practices.

Competitive Landscape:

• The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. 
• The competitive landscape of the US HPMC market is characterized by the presence of several key players, including Dow Chemical Company, Ashland, and Shin-Etsu Chemical Co., Ltd. These companies focus on innovation, product development, and strategic partnerships to maintain their market positions. The market is also influenced by regional manufacturers who cater to local demands. Competition is driven by the need for high-quality, versatile HPMC products across various industries, including construction, pharmaceuticals, food, and personal care, with a growing emphasis on sustainability and eco-friendly solutions. For instance, in January 2024, Ashland showcased its breakthrough, high-performing technology platforms and personal care ingredients at NYSCC Suppliers’ Day 2024 in New York City. Building on a successful exhibition at In-Cosmetic Global, Ashland’s focus was on unique, sustainable additives and specialty ingredients that meet global megatrends and regulatory demands. These innovative products are renewable, nature-derived, biodegradable, non-microplastic, non-GMO, and vegan.

United States Hydroxypropyl Methylcellulose (HPMC) Market News:

• In June 2024, DuPont announced that it has signed an agreement to acquire Donatelle Plastics Incorporated, a leading medical device contract manufacturer specializing in the design, development and manufacture of medical components and devices. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals.
• In May 2023, DuPont, a global leader in the chemical industry, announced the complete acquisition of Spectrum Plastic Group, a company specializing in specialty medical devices and components market, from its AEA investors.
• In July 2024, Dow Chemicals Corporation announced the launch of NORDEL™ REN Ethylene Propylene Diene Terpolymers (EPDM) at the German Rubber Conference (DKT) 2024. This bio-based version of Dow’s EPDM rubber material is designed for use in automotive, infrastructure, and consumer applications. Key uses include automotive weatherseals and hoses, building profiles, roofing membranes, and wire and cable. NORDEL™ REN EPDM aims to help industries reduce Scope 3 emissions and support their sustainability goals, contributing to the decarbonization of the building and construction sectors.

United States Hydroxypropyl Methylcellulose (HPMC) Market Report Scope:

Key Questions Answered in This Report:

• How has the United States hydroxypropyl methylcellulose (HPMC) market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States hydroxypropyl methylcellulose (HPMC) market?
• What is the breakup of the United States hydroxypropyl methylcellulose (HPMC) market on the basis of end use?
• What are the various stages in the value chain of the United States hydroxypropyl methylcellulose (HPMC) market?
• What are the key driving factors and challenges in the United States hydroxypropyl methylcellulose (HPMC) market?
• What is the structure of the United States hydroxypropyl methylcellulose (HPMC) market, and who are the key players?
• What is the degree of competition in the United States hydroxypropyl methylcellulose (HPMC) market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States hydroxypropyl methylcellulose (HPMC) market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States hydroxypropyl methylcellulose (HPMC) market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States hydroxypropyl methylcellulose (HPMC) industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.