Hydroxypropyl Cellulose Market: Introduction
Hydroxypropyl Cellulose is a kind of cellulose ether which is water soluble and contains a polymeric chain which allows the compound to be used in several end-use applications. In terms of physical appearance, hydroxypropyl cellulose is a white powder which is tasteless and odorless. Hydroxypropyl Cellulose finds applications in several end-use industries, such as food & beverage, pharmaceutical, building & construction, personal care and many others. Various properties of hydroxypropyl cellulose, such as high solubility, thermoplasticity and thickening and stabilizing properties, make it a preferred compound to be used across several end-use industries. Its high water retention capacity makes it an ideal choice to be used in concrete admixtures where it is used to extend the working time of mortar, thereby increasing mortar’s efficiency and enhancing its various properties. Most of the cellulose ethers, including Hydorxypropyl cellulose, also find extensive applications in the food & beverage industry where they are essentially used in sauces, frozen foods, canned citrus and many other products. Thus, increasing demand from food & beverage industry and anticipated growth in various other end-use industries of hydroxypropyl cellulose market is anticipated to boost its demand over the forecast period.
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Hydroxypropyl Cellulose Market: Dynamics
Hydroxypropyl Cellulose finds significant applications in several end-use industries, such as food & beverages, cosmetics, chemicals, pharmaceuticals, construction, paint & coating, plastics, textiles and many others. Cellulose ethers, including hydroxypropyl cellulose, find prominent applications in the food & beverage industry where they are used as thickeners, emulsion stabilizers and binders in several food products, such as sauces, canned citrus, frozen food, etc. Hydroxypropyl cellulose is also used in the processing of PVC (Polyvinyl Chloride) where it is used as a dispersant. Increasing global demand for packaged food and frozen food items is anticipated to boost the demand for Hydroxypropyl cellulose over the forecast period. Furthermore, steady growth in the construction industry is also a key factor responsible for the rise in demand for hydroxypropyl cellulose. Furthermore, the ongoing growth in coating applications is also anticipated to boost its demand over coming years. Therefore, growth across most of the end-use industries of hydroxypropyl cellulose is estimated to fuel its growth over the forecast period.
Hydroxypropyl cellulose is a food compliant chemical which is used in several food products. Stringent government regulations regarding the food & beverage industry might hinder its growth over the forecast period. Furthermore, ease of availability of substitutes may also act as an impediment to the growth of the hydroxypropyl cellulose market over the coming years.
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High applicability of hydroxypropyl cellulose had led the manufacturers to explore new applications of hydorxypropyl cellulose in other industries too. Therefore, key industry players are focusing on increasing investment in R&D to customize their product to be used across several industries. This is one of the ongoing key trends in the hydroxypropyl cellulose market.
Hydroxypropyl Cellulose Market: Segmentation
The Hydroxypropyl Cellulose Market can be segmented on the basis of grade, viscosity and application. By grade, the hydroxypropyl cellulose market can be segmented into food & pharmaceutical grade and technical grade. On the basis of viscosity, the hydroxypropyl cellulose market can be segmented into low viscosity and high viscosity grade. On the basis of application, the hydroxypropyl cellulose market can be segmented into Food & Beverage, Chemicals, Cosmetics, Construction, Pharmaceuticals, Paints & coatings, Paper & textile and others.
Hydroxypropyl Cellulose Market: Regional Outlook
Asia Pacific is estimated to dominate the hydorxypropyl cellulose market over the forecast period. Changing consumer lifestyle has led to an increase in demand for packaged food owing to which the demand for hydroxypropyl cellulose is increasing. Furthermore, rising disposable income is also one of the key factors which has boosted the demand across several end-use industries. North America and Europe are slated to witness steady growth over the forecast period. Middle East & Africa and Latin America are also anticipated to record firm growth owing to growing infrastructure and growing demand across various end-use industries.
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Hydroxypropyl Cellulose Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Hydroxypropyl Cellulose market are-
- CP Kelco
- Akzo Nobel N.V.
- The Dow Chemical Company
- Ashland Inc.
- Sidley Chemical Co.,Ltd
- Nisso HPC
- Shandong Head Co, Ltd.
- Zhicheng Cellulose Co., Ltd
- Huzhou Mizuda Hope Bioscience Co., Ltd.