Hydroxyethyl Methyl Cellulose Market Size, Share & Trends Analysis Report By Application (Construction, Pharmaceuticals, Food), By Region (North America, APAC), And Segment Forecasts, 2022 - 2030

Hydroxyethyl Methyl Cellulose Market Size, Share & Trends Analysis Report By Application (Construction, Pharmaceuticals, Food), By Region (North America, APAC), And Segment Forecasts, 2022 - 2030

Hydroxyethyl Methyl Cellulose Market Growth & Trends

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.

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 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