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Hydroxypropyl Methylcellulose Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033
Hydroxypropyl Methylcellulose Market
As per the report, the hydroxypropyl methylcellulose market size has grown strongly in recent years. It will grow from $4.36 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The hydroxypropyl methylcellulose market size is expected to see strong growth in the next few years. It will grow to $5.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
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Hydroxypropyl Methylcellulose Market Surges Amidst Growing Pharmaceutical Sector Spending
A rise in spending for the pharmaceutical sector is expected to boost the growth of the hydroxypropyl methylcellulose market going forward. The pharmaceutical industry refers to an industry involved in the discovery, development, and manufacture of drugs and medications that benefit society's health and well-being. Hydroxypropyl methylcellulose is employed in the pharmaceutical sector that is used to treat dryness and irritability brought on by decreased tear production and aids in preventing eye damage. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, with an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, the rise in spending for the pharmaceutical sector is driving the growth of the hydroxypropyl methyl cellulose market.
Hydroxypropyl Methylcellulose Market Thrives On Product Advancements And Strategic Initiatives
Product innovations have emerged as the key trend gaining popularity in the hydroxypropyl methylcellulose market. Major companies operating in the hydroxypropyl methylcellulose market are developing innovative products to strengthen their position in the market. For instance, in May 2021, Evonik Industries AG, a Germany-based specialty chemical company introduced EUDRACAP, a ready-to-use capsule made up of hydroxypropyl methylcellulose to optimize the release profile of oral drug products. The coated HPMC (hydroxypropyl methylcellulose) capsules are particularly well adapted to safeguard delicate active pharmaceutical ingredients against gastric acid and moisture for the effective release of active ingredients and operate without a hitch on fully automated machines at full speed during active ingredient filling or production. Additionally, it supports the development and marketing of sophisticated oral medications that employ delicate components, including biologicals.
The hydroxypropyl methylcellulose market covered in this report is segmented -
1) By Product Types: Pharmaceutical Grade, Industrial Grade
2) By Sales Channel: Direct Sale, Indirect Sale
3) By End Use: Construction, Pharmaceuticals (Including Cosmetics), Food Industry, Others End Uses
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Major companies operating in the hydroxypropyl methylcellulose market report are Celotech Chemical Co Ltd., Zhejiang Kelain New Materials Co Ltd., Shin-Etsu Chemical Co Ltd, Ashland Global Specialty Chemicals Inc, DuPont de Nemours Inc, Colorcon Inc, Lotte Fine Chemical Co Ltd, Shandong Head Co Ltd, Shijiazhuang Shangdun Cellulose Co Ltd, Fenchem Biotek Ltd, Mitsubishi Chemical Group Corporation, Paramount Chemical & Acid Corporation, Universal Mine Chem, Madhu Hydrocolloids Pvt. Ltd., Dow Chemical Company, Ashland Global Holdings Inc., Samsung Fine Chemicals Co. Ltd., Zhejiang Kehong Chemical Co. Ltd., China Ruitai International Holdings Co. Ltd., Kingstone Chemical Holdings Co. Ltd., SE Tylose GmbH & Co. KG, Daicel FineChem Ltd., Anhui Shanhe Pharmaceutical Holdings Co. Ltd., Ashland LLC, Changzhou Guoyu Environmental S&T Co. Ltd., J. Rettenmaier & Söhne GmbH + Co KG, Shanxi Sanwei Group Co. Ltd. .
Contents of the report:
1. Executive Summary
2. Hydroxypropyl Methylcellulose Market Report Structure
3. Hydroxypropyl Methylcellulose Market Trends And Strategies
4. Hydroxypropyl Methylcellulose Market - Macro Economic Scenario
5. Hydroxypropyl Methylcellulose Market Size And Growth
…..
27. Hydroxypropyl Methylcellulose Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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