The global hydroxyethyl methyl cellulose market size is expected to reach USD 103.0 million by 2030, as per the new report by Grand View Research, Inc. registering a CAGR of 9.1% over the forecast period. The demand is attributed to a rise in construction activities across the globe, which is driving infrastructure development activities. With the growing population and residential sector in countries like U.S. and Canada, the demand for hydroxyethyl methyl cellulose (HEMC) products is expected to increase. The rising demand for the latest transportation systems equipped with modern technologies has resulted in the launch of a number of new road and bridge development projects in Canada.
Hydroxyethyl Methyl Cellulose Market Report Highlights
- In terms of revenue, Asia Pacific accounted for the largest share in 2021 and is anticipated to grow at the fastest CAGR from 2022 to 2030
- The demand is attributed to arise in infrastructural spending in countries like China, India, and Malaysia
- Construction application is anticipated to witness a significant CAGR over the forecast period. The growth is attributed to a rise in demand for cement mortar used in construction activities
- Pharmaceuticals were the second-largest segment in 2021. HEMC is used as an excipient in products like oral tablets, suspensions, and topical gel preparation
- Rising consumer awareness about the benefits of healthier and low-fat diet food is expected to drive cereals demand in the food processing industry, which makes use of HEMC
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For instance, the government of Canada announced its plan to invest in new infrastructure development over the next twelve years. This, in turn, will increase the product demand. Asia Pacific dominated the market in 2021accounting for the highest revenue share. The rising per capita disposable income levels are projected to drive the regional market. The emergence of new businesses operating in various application segments is also anticipated to drive the product demand in the region. The global companies are focusing on capacity expansions, signing partnership agreements with distributors, and various other operational strategies to gain an edge in the competitive marketspace
Hydroxyethyl Methyl Cellulose Market Insights By Demographics
Asia Pacific accounted for the largest share. The growth was attributed to the increase in high infrastructural spending in countries, such as China, India, Malaysia, and Indonesia, owing to the emergence of new business enterprises. North America was the second-largest region, in terms of volume. The growth in the demand is due to a rise in the construction industry in North American countries, such as the U.S., Canada, and Mexico, and the high adoption of sustainable and advanced construction practices. Europe is expected to grow at a significant CAGR. The growth is attributed to the rapid expansion of the food & beverage industry in the region. The most popular food items consumed in this region are meat, bakery, dairy, and farinaceous products.
Industry Share Analysis By Major Companies
With the emergence of new business enterprises, there has been an increase in competition among players in the industry. Manufacturers are continuously trying to advance their units and strengthen their presence across the globe. A majority of the companies have integrated their business operations across the value chain to incur maximum profit at the lowest investment. The global companies are also focusing on capacity expansions, signing partnership agreements with distributors, and various other operational strategies to gain an edge in the competitive market space. Some of the top players in the global hydroxyethyl methyl cellulose market include:
- Dow. Inc.
- Ashland
- Akzo Nobel N.V.
- Lotte Fine Chemical
- Celotech Chemical Co. Ltd.
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Hydroxyethyl Methyl Cellulose Market Segmentation
Grand View Research has segmented the global hydroxyethyl methyl cellulose market on the basis of application and region:
- Hydroxyethyl Methyl Cellulose Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 – 2030)
- Hydroxyethyl Methyl Cellulose Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 – 2030)
- List of Key Players of Hydroxyethyl Methyl Cellulose (HEMC) Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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