Copovidone Market

Copovidone Market Snapshot

The global copovidone market is estimated to register remarkable growth, expanding at a CAGR of around 9% to 10% during the forecast period 2022-2032. Increasing demand for non-toxic, and pharmaceutically inactive thickening and binding agents across diverse industries is expected to accelerate the sales of copovidone in the global market.

Copovidone is an analog of povidone which is commonly used as a fining agent, tablet binder, emulsifier, and a part of matrix materials in controlled-release formulations. This compound is increasingly used as an alternative to povidone, owing to its less hygroscopic, more elastic, and better plasticity attributes in comparison to povidone.

Copovidone is gaining huge traction as a film-forming agent and is being added to the coating solutions for enhancing its adhesion, elasticity, and hardness. It is finding a wide range of applications across various sectors such as industrial, ceramics, adhesives, battery, and others, on account of several benefits, it offers over other polymers. This is projected to accelerate the sales of copovidone in the global market.

What are the Key Drivers Elevating the Sales of Copovidone in the Global Market

The market for copovidone is largely driven by favorable government regulations, policies, and standards. Numerous regulatory organization such as the U.S. Food & Drug Administration has approved using non-toxic and pharmaceutically inactive chemicals such as copovidone across industries such as food & beverage, pharmaceuticals, and personal care & cosmetics.

This, in addition to its excellent moisture barrier and binder properties, copovidone is finding usages as a soluble binder for gelatin capsules and as a dry binder for direct compression tableting across pharmaceutical industry. Hence, growing demand for tablets, pills, and capsules across the globe is projected to create lucrative growth opportunities in the copovidone market.

What are the Factors Creating Difficult Roads for the Copovidone Market Growth

In the past couple of years, a rapid inclination towards the adoption of organic and natural cosmetics & personal care products is being witnessed, especially across developed countries such as the U.S., Germany, Japan, the U.K., and others. This is discouraging the industry players from making use of copovidone in their products, thereby, hampering the demand in the market.

Also, side effects associated with excessive consumption of copovidone such as stomach aches, nausea, diarrhea, and vomiting are further hindering the sales in the market.

Why is South Asia Exhibiting Robust Growth in the Global Copovidone Market

South Asia is expected to account for a significant share in the global copovidone market from 2022 to 2032, reveals Future Market Insights.

Demand for therapeutic drugs such as tablets and pills is increasing at a rapid pace in South Asia, on account growing burden of numerous diseases and increasing adoption of personalized medicine. Hence, leading industry players are emphasizing on expanding their drugs production capacity to cater to this surging demand.

For instance, in 2021, Glenmark Life Science, an Indian manufacturer of drugs and therapeutics products announced its plan of investing around US$ 78.7 Mn for increasing its production capacity to more than double in the coming years. As copovidone is extensively used in capsules, tablets, and pills production, such developments are estimated to bolster the growth in the South Asia market.

Nandini Roy Choudhury

Principal Consultant

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Why is the Demand for Copovidone Accelerating in the North America Market

A study by FMI states that North America is anticipated to register growth at a rapid CAGR in the global copovidone market during the forecast period 2022-2032.

Due to the increasing concerns regarding personal hygiene and growing consumer spending on enhancing the facial, body, and hair aesthetic, a substantial rise in sales of personal care & cosmetics products is being witnessed across North America.

As copovidone is extensively used as an emulsifier, binder, and thickening agent in the products such as toothpaste, moisturizers, shampoos, shaving lotions, and others, growing sales of these products are projected to augment the demand in the North America market.

Market Competition

Some of the leading players in the copovidone market profiled by FMI are Nanhang Industrial, Merck KGaA, Boai NKY Pharmaceuticals Ltd., BASF SE, Huangshan Bonsun Pharmaceuticals Co., Ltd., Ashland, Hangzhou Motto Science & Technology Co. Ltd., Shanghai Yuking Water Soluble Material Tech Co. Ltd., and others.

The market for copovidone is highly competitive, attributed to increasing research and development activities for launching novel products and adoption of production capacity expansion strategies by key companies.

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Report Scope

Key Segments Profiled in the Copovidone Market Survey

By Function:

• Granulating Agent
• Retarding Agent
• Film-forming Agent
• Lubricant
• Thickening Agent
• Dispersant
• Binding Agent
• Emulsifying Agent
• Fining Agent
• Blocking Agent

By Form:

• Liquid
• Powder
• Others

By Grade:

• Food Grade
• Pharmaceutical Grade
• Industrial Grade

By End Use:

• Food & Beverage
• Cosmetics
• Personal Care
• Pharmaceuticals
• Adhesives
• Battery
• Water Treatment
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa