New York, May 15, 2023 (GLOBE NEWSWIRE) -- The global hydroxypropyl starch ether market is expected to witness significant growth at a remarkable CAGR of 3.9% during the forecast period of 2023-2030. This growth is attributed to the increasing demand for hydroxypropyl starch ether in various end use industries such as paper, textile, food & beverages and others. In addition, the rising infrastructure in key regions such as Asia Pacific, Middle East, and others are accelerating the demand for hydroxypropyl starch ether.
According to a recent report by Consegic Business Intelligence, the hydroxypropyl starch ether market is poised for strong expansion and is expected to reach USD 562.89 Million by 2030. The market, which was valued at USD 415.84 Million in 2022, is predicted to grow at a compound annual growth rate of 3.9% during the period 2023-2030. The report highlights the increasing adoption of hydroxypropyl starch ether in the pharmaceutical industry as binders, and disintegrate. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the hydroxypropyl starch ether market.
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Global Hydroxypropyl Starch Ether Market Size, Share & Trends Analysis, By Grade (Food Grade, Pharmaceutical Grade, and Industrial Grade), End Use Industry (Food & Beverage Industry, Pharmaceutical, Building & Construction, Textile Industry, Paper Industry, Personal Care & Cosmetics, and Others), By Region, Forecast Period 2023 – 2030.
Consegic Business Intelligence Pvt. Ltd. provided an inclusive research report on the hydroxypropyl starch ether market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as grade, end use industry, and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
Hydroxypropyl starch ether is a fine white powder prepared from natural plants, which are modified, highly etherified, and spray dried. The starch ethers are free of plasticizers and different from ordinary starch or modified starch. Hydroxypropyl starch ethers find a wide range of applications in the building & construction industry as an additive in the dry mortar that is further used in plastering, repair of mortar adhesives, and exterior & interior wall putty. In addition, hydroxypropyl starch ether compounds are deployed in various end-use industries such as textile, paper, pharmaceutical, and others.
Hydroxypropyl starch ether is widely used as a thickener and water-retention agent in the construction industry. Moreover, with the growing demand for construction materials and increasing focus on sustainable construction practices, the demand for hydroxypropyl starch ether is increasing. In addition, in the food & beverages industry, starch ethers are deployed as stabilizers and emulsifiers. Therefore, the rising demand for processed and convenience food is contributing to the growth of the hydroxypropyl starch ether market. Additionally, the growing demand for pharmaceutical drugs due to the rising prevalence of chronic diseases is expected to propel the market growth over the forecast period.
Furthermore, hydroxypropyl is a bio-based and biodegradable product. With a rising focus on sustainability and the environment, the demand for hydroxypropyl starch ether in various industries is expected to increase.
Global Hydroxypropyl Starch Ether Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 562.89 Million |
| CAGR (2023-2030) | 3.9% |
| By Grade |
|
| By End Use Industry |
|
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region |
|
| Key Players | SIDLEY CHEMICAL CO., LTD., ATAMAN KİMYA, MIKEM, TRC Inc. (subsidiary of LGC Standards), Shandong Charing Industry Co., Ltd., KIMA CHEMICAL CO., LTD., SpecialChem, SLEOCHEM, Shandong ETON New Material Co., Ltd. |
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Key Market Takeaways
- The global hydroxypropyl starch ether market size is estimated to exceed USD 468.58 billion by 2030 with a CAGR of 3.9% during the forecast period (2023-2030).
- Based on grade, the industrial grade segment accounted for the highest market share in the hydroxypropyl starch ether market in 2022.
- By end use industry, the building & construction segment is expected to register the fastest CAGR over the forecast period.
- Asia Pacific is expected to register the fastest CAGR of 4.2% due to rising technological advancements in the hydroxypropyl starch ether.
Global Hydroxypropyl Starch Ether Market Segmentation Details:
Based on Grade, the industrial grade segment dominated the hydroxypropyl starch market in terms of revenue. Hydroxypropyl starch ether is widely used in various end-use industries such as textile, paper, personal care, and cosmetics. For instance, in the textile industry, starch ethers are deployed to improve weaving efficiency and abrasion resistance. In addition, in the paper industry, starch ethers are used to make smooth glue films and reduce ink consumption. Therefore, growing applications of hydroxypropyl starch ether across various manufacturing industries is driving the segment growth.
Based on End Use Industry, the food & beverages segment is anticipated to register the fastest CAGR in the market over the forecast period. Hydroxypropyl starch ether is gluten-free and highly stable under extremely acidic and alkaline conditions. Gluten-based food triggers immune system activity by damaging the inner lining of the small intestine. Hence, the shifting consumer preference toward gluten-free food due to rising health concerns is propelling the segment growth over the forecast period.
Based on Region, in 2022, Asia Pacific is expected to witness the fastest CAGR of 4.2% in the market during the forecast period owing to increasing infrastructure in the region, particularly in India and China which is expected to propel the hydroxypropyl starch ether market growth. In addition, the rising food & beverage industry due to the increasing application of hydroxypropyl starch ether as thickeners and stabilizers is also expected to contribute to the market growth.
Competitive Landscape
TAMAN KİMYA, Ashland Global Holdings Inc., SIDLEY CHEMICAL CO., LTD., and, Shandong Charing Industry Co., Ltd are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies such as the development of efficient, cost-effective, and free-of-plasticizers hydroxypropyl starch ether as compared to conventional starch. Further, the hydroxypropyl starch ether market is expected to grow steadily due to rising demand from the building & construction industry, especially in the Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend towards increasing adoption of hydroxypropyl starch ether in the pharmaceutical industry is also estimated to drive demand for such starch ethers that is anticipated to increase the competition in the market.
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List of Major Global Hydroxypropyl Starch Ether Market:
- SIDLEY CHEMICAL CO., LTD.
- ATAMAN KİMYA
- MIKEM
- TRC Inc. (subsidiary of LGC Standards)
- Shandong Charing Industry Co., Ltd.
- KIMA CHEMICAL CO., LTD.
- SpecialChem
- SLEOCHEM
- Shandong ETON New Material Co., Ltd.
Global Hydroxypropyl Starch Ether Market Segmentation:
- By Grade
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
- By End Use Industry
- Food & Beverage Industry
- Pharmaceutical
- Building & Construction
- Textile Industry
- Paper Industry
- Personal Care & Cosmetics
- Others
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Frequently Asked Questions in the Hydroxypropyl Starch Ether Market Report
- What was the market size of the hydroxypropyl starch ether industry in 2022?
- In 2022, the market size of hydroxypropyl starch ether was USD 415.84 million
- What will be the potential market valuation for the Hydroxypropyl Starch Ether industry by 2030?
- In 2030, the market size of hydroxypropyl starch ether is expected to reach USD 562.89 million.
- What are the key restraints of the hydroxypropyl starch ether market?
- The availability of several other modified starches that are used as a substitute for hydroxypropyl starch ether is likely to serve as the key restraint of the market.
- What is the dominating segment in the hydroxypropyl starch ether market by end use industry?
- In 2022, the building & construction segment accounted for the highest market share of 33.54% in the overall hydroxypropyl starch ether market.
- Based on current market trends and future predictions, which geographical region will have the fastest impact on the Hydroxypropyl Starch Ether market's growth in the coming years?
- Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.
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