Report ID : CBI_1012 |
Base Year: | 2022 |
CAGR: | 3.9% |
Forecast Year: | 2023-2030 |
Revenue 2022: | $415.84 Mn |
Revenue 2030: | $562.89 Mn |
Consegic Business Intelligence analyzes that the hydroxypropyl starch ether market is growing with a CAGR of 3.9% during the forecast period (2023-2030), and the market is projected to be valued at USD 562.89 Million by 2030 from USD 415.84 million in 2022.
Hydroxypropyl starch ether is a type of modified starch that is used as a thickener and stabilizer in a variety of industries. The compound is produced by reacting native starch with propylene oxide to create a chemically modified starch with improved properties. The starch ethers are colorless, transparent, soluble, and stable under acidic and alkaline conditions. Hydroxypropyl starch ether is commercialized in various grades such as food, pharma, and industrial grade, making it ideal for use in several end-use industries such as construction, food and beverages, personal care products, and pharmaceuticals among others.
The increasing usage of hydroxypropyl starch ether in the food & beverages industry as a stabilizer, thickener, and binder. In addition to this, hydroxypropyl starch ether is a suitable ingredient for a wide range of food processing applications, including high-temperature sterilization and canning. These factors contribute to the growing ability of starch to provide a high level of stability to food products for longer periods. Thus, the increasing usage of hydroxypropyl starch ether in the food & beverages industry is boosting the demand of the market growth.
Hydroxypropyl Starch Ether can impart unique properties to cement and gypsum based products. It is widely used as binders in various kinds of plaster mortar and facing mortar in commercial and residential projects. The expanding construction industry due to rising commercial and residential projects is contributing to the growth of the market. In addition, the rising government initiatives to grow the infrastructure of the country are also surging the demand for hydroxypropyl starch ether.
The presence of various other modified starch that is used as a substitute for hydroxypropyl starch ether such as modified corn starch and modified potato starch is more stable than hydroxypropyl starch ether and gives better consistency to food products, for this reason, easy availability of alternatives for hydroxypropyl starch ether is hampering the market growth.
Hydroxypropyl starch ether is also used as a binder, disintegrate, and sustained-release agent in the pharmaceutical industry. For instance, Shandong ETON New Material Co., Ltd., headquartered in China, offers pharmaceutical grade hydroxypropyl starch ether that is deployed as a plasma increaser and tablet disintegrator agent. The growing need for pharmaceuticals and the development of new drugs with the usage of pharma grade based hydroxypropyl starch ether is expected to increase the demand for the hydroxypropyl starch ether market.
The introduction of new technologies and manufacturing processes that help in improving the quality of the hydroxypropyl starch ether and are cost-effective is projected to create lucrative opportunities for the key market players operating in the market. For instance, according to the paper published by Science Direct, hydroxypropyl starch was prepared by microwave-assisted method and compared with the conventional method. The results of the study showed a reduction in the reaction time of hydroxypropyl with an improvement in product quality. Therefore, the rising advancements in technology are anticipated to offer significant opportunities to the market.
Report Attributes | Report Details |
Study Timeline | 2017-2030 |
Market Size in 2030 (USD Million) | USD 562.89 Million |
CAGR (2023-2030) | 3.9% |
By Grade | Food Grade, Pharmaceutical Grade, and Industrial Grade |
By End Use Industry | Food & Beverage Industry, Pharmaceutical, Building & Construction, Textile Industry, Paper Industry, Personal Care & Cosmetics, and Others |
By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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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Download Sample ReportThe grade segment is categorized into food grade, pharmaceutical grade, and industrial grade. In 2022, the industrial grade segment held the highest share in the market. In the building & construction industry, hydroxypropyl starch ethers are deployed in various types of external and internal wall putty owing to their good thickening and stability properties. The increasing application of thickeners and stabilizers in the building & construction sector is contributing to the market growth. In addition, in the paper industry, starch ethers are used in the surface sizing of the paper to brighten the printing ink. Hence, the increasing application of hydroxypropyl starch ether in various other end-use industries is driving market growth.
Moreover, the food grade segment is expected to register the fastest CAGR in the hydroxypropyl starch ether market. The widespread use of food grade hydroxypropyl starch ether as suspending agent and adhesive is expected to contribute to the market growth over the forecast period. In addition to this, starch ethers are widely used in non-alcoholic drinks, confectionery food items, and dairy products that accelerate the food-grade based hydroxypropyl starch ether in the forecast years.
The end use industry segment is categorized into food & beverage industry, pharmaceutical, building & construction, textile industry, paper industry, personal care & cosmetics, and others. The building and construction industry held the highest market share of 33.54% in the overall hydroxypropyl ether market. This is due to the increasing construction activities owing to the rising urbanization and progress in technology. Additionally, the introduction of significant construction techniques along with superior-grade raw materials including hydroxypropyl starch ether is also an influencing factor proliferating the market growth.
Moreover, the food and beverages segment is anticipated to register the fastest CAGR over the forecast period due to the rising application of starch ether in the food & beverage industry. The changing consumer preferences, increasing health concerns, and advancements in manufacturing technologies are the major factors contributing to the rapid growth of the food and beverages industry. Moreover, hydroxypropyl is widely used as a food additive in various food and beverage products such as confectionery items, dairy products, and non-alcoholic drinks due to its gluten-free properties which help to boost its demand in the forecast period.
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Download Sample ReportThe regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportIn 2022, Europe accounted for the highest market share at 38.45% and was valued at USD 159.89 million, and is expected to reach USD 218.91 million in 2030. In Europe, Germany accounted for the highest market share of 30.50% during the base year of 2022. The growth in the region is attributed to the strict regulations regarding the use of chemical additives in food and other products, that are favorable for hydroxypropyl starch ether due to their natural occurrence. Moreover, the increasing demand for high-performance and eco-friendly construction materials in the European region is expected to accelerate the hydroxypropyl starch ether market growth.
However, Asia Pacific is expected to register the fastest CAGR of 4.2% during the forecast period owing to the growing food and beverage industry due to the wide scope of applications including emulsifiers, suspending agents, and thickeners. The major factor driving the market growth is the easy availability of raw materials used in the production of hydroxypropyl starch ether in countries such as China, India, and Thailand. As a result, the production of hydroxypropyl starch ether is more easier and cost-effective in the region, in turn, proliferating the market growth.
Details Countries Growth Insights
Download Sample ReportThe hydroxypropyl starch ether market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include -
In 2022, the market size of hydroxypropyl starch ether was USD 415.84 million.
In 2030, the market size of hydroxypropyl starch ether will be expected to reach USD 562.89 million.
Increasing demand for hydroxypropyl starch ether in the food & beverages industry as a stabilizer, thickener, and binder is the key factor driving the growth of the hydroxypropyl starch ether market.
In 2022, the building & construction segment accounted for the highest market share of 33.54% in the overall hydroxypropyl starch ether market.
Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.