By 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 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.

By End Use Industry :

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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By 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 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.