Hydroxypropyl Cellulose Market Recent Developments, Research Analysis Forecast 2032
The global Hydroxypropyl Cellulose (HPC) market was valued at USD 163.8 million in 2021. Revenue from L-Hydroxypropyl Cellulose is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2032. In North America, the Hydroxypropyl Cellulose market is anticipated to reach USD 106.7 million by 2032. This positive outlook is driven by the increasing demand for cleaner HPC capsules, which are replacing animal-based products, and the rising trend of veganism. Additionally, the pharmaceutical industry's growing recognition of HPC's benefits contributes to market growth. HPC products are used in ophthalmic lubrication and as crucial emulsifying and thickening agents in ointments, lotions, and creams. The expanding construction projects in the United States further boost the market, as HPC's high water-retention capacity enhances mortar strength during setting. The rising adoption of high-performance computing in drug discovery is also supporting the growth o...