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Hydroxypropyl Starch Ether Market - Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)
Hydroxypropyl Starch Ether Market Introduction :
Consegic Business Intelligence analyzes that the hydroxypropyl starch ether market size 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 Market Definition & Overview :
Hydroxypropyl is a type of modified starch chemical mainly used as a thickener and texturing agent for cement or gypsum based mortar products. The starch ethers are colorless, transparent, soluble, and stable under acidic and alkaline conditions. Hydroxypropyl starch ether is widely deployed as a thickener and suspending agent in various end-use industries namely textile, building & construction, paper sector, and others. Moreover, based on the analysis in the building & construction sector, this ether finds a wide range of applications as thickeners and texturing agents for gypsum or cement-based products.
Key Market Growth Factors
- Drivers:
- Growing use in food & beverages industry
- Functions as stabilizer, thickener, and binder
- Gluten-free and safe for consumption
- Opportunities:
- Functions as binder, disintegrant & sustained-release agent
- Applied in tablet formulation and drug delivery
- Availability of pharma-grade products supports usage
Hydroxypropyl Starch Ether Market Dynamics - (DRO) :
Key Drivers :
Increasing demand for hydroxypropyl starch ether in the food & beverages sector
The increasing usage of these ethers in the food & beverages sector is as a stabilizer, thickener, and binder is driving the market growth. Hydroxypropyl is gluten-free and generally considered a safe food substance in various countries such as Germany, U.S., and China. For instance, Ataman Chemicals, a Turkish manufacturer of chemical raw materials, offers starch E1440 that is EU (European Union) approved to be used as a food additive. Moreover, as per the analysis, hydroxypropyl compounds are highly used in non-alcoholic beverages, dairy products, and confectionery items such as gums and jellies which impact to contribute to the expansion of the hydroxypropyl starch ether market.
The expansion of commercial and residential projects is accelerating the market demand
Hydroxypropyl starch ether imparts 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 sector due to rising construction projects is contributing to the expansion of the market. For instance, according to the data published in Invest India, in November 2020, reported that the Indian construction sector, in value terms, is expected at CAGR of 15.7% and is estimated to reach USD 738.5 bn by 2022. Additionally, according to the data published in Invest India, in October 2021, reported that India's construction sector received an amount of USD 17.22 billion for various infrastructure activities and USD 25.78 billion for construction projects from the year 2000 to 2020.
In addition, the rising government initiatives to grow the infrastructure of the country For instance, according to PIB, in October 2022, reported the PM GatiShakti National Master Plan in November 2022. This initiative is a transformative approach towards the planning of infrastructure projects and implementation. Thus, the expansion of these projects is propelling the market.
Key Restraint :
Easy availability of alternatives for hydroxypropyl starch ether
The presence of various other modified starch that is used as a substitute for hydroxypropyl ethers is likely to hamper the market. For instance, modified corn starch and modified potato starch are more stable than this ether and give better consistency to food products. As a result, such modified starch is widely used in the food sector. Therefore, the availability of alternatives for this ether is likely to hamper the market.
Future Opportunities :
Increasing applications in the pharmaceutical sector
Hydroxypropyl starch ether is also used as a binder, disintegrate, and sustained-release agent in the pharmaceutical sector. 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 and trend for hydroxypropyl starch ether market.
Rising advancements in manufacturing technology to improve the quality of hydroxypropyl starch ether
The introduction of new technologies and manufacturing processes that help in improving the quality of the this 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 hydroxypropyl starch ether market opportunities and trends in the upcoming years.
Hydroxypropyl Starch Ether Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 562.89 Million |
| CAGR (2023-2030) | 3.9% |
| Based on the Grade | Food Grade, Pharmaceutical Grade, and Industrial Grade |
| Based on the End Use Industry | Food & Beverage Industry, Pharmaceutical, Building & Construction, Textile Industry, Paper Industry, Personal Care & Cosmetics, and Others |
| Based on the 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. |
Hydroxypropyl Starch Ether Market Segmental Analysis:
Based on the Grade :
The 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 sector, these 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. In addition, based on the analysis in the paper sector, starch ethers are used in the surface sizing of the paper to brighten the printing ink. Hence, the increasing application of this ether in various other end-use industries is driving market.
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 expansion over the forecast period.As per the hydroxypropyl starch ether market analysis, starch ethers are widely used in non-alcoholic drinks, confectionery food items, and dairy products. For instance, according to the report published by the Food and Agriculture Organization of the United Nations, global milk production reached 928 million tons in 2021. Hence, the growing hydroxypropyl starch ether market demand for the above-mentioned food items is expected to drive the hydroxypropyl starch ether market growth and trend.
Based on the End-use Industry :
The end use industry segment is categorized into food & beverage sector, pharmaceutical, building & construction, textile sector, paper sector, personal care & cosmetics, and others. The building and construction sector 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 these ethers 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 sector. 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 gluten-free properties. Therefore, the changing trends towards eating habits and increasing health concerns are the major factors growing the adoption of hydroxypropyl ethers.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, Europe accounted for the highest hydroxypropyl starch ether 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. Hydroxypropyl starch ether is used to impart unique properties to gypsum and cement-based products. The rising need to improve existing buildings and infrastructure is contributing to the growth of the market. In addition, the increasing demand and trend for sustainable construction additives is also propelling the 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 sector due to the wide scope of applications including emulsifiers, suspending agents, and thickeners. For instance, according to the report published by the United Nations, Asia Pacific will need to increase food production by 77% by 2050. Hence, the rising consumption of food due to the growing population is expected to drive the hydroxypropyl starch ether market trend over the forecast period.
Top Key Players & Market Share Insights :
The hydroxypropyl starch ether industry 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-
- Shandong Charing Industry Co. Ltd.
- KIMA CHEMICAL CO. LTD.
- SpecialChem
- SLEOCHEM
- Shandong ETON New Material Co. Ltd.
- SIDLEY CHEMICAL CO. LTD.
- ATAMAN KİMYA
- MIKEM
- TRC Inc. (subsidiary of LGC Standards)
Key Questions Answered in the 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 will be expected to reach USD 562.89 million.
What are the key factor driving the growth of the hydroxypropyl starch ether market? +
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.
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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