Growth of the pharmaceutical industry is driving the Microcrystalline Cellulose (MCC) Market
Technavio analyzes that the Microcrystalline Cellulose (MCC) Market is expected to grow at a CAGR of 6.22% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 440.3 million.There are various factors that contribute to the growth of the market. The expansion of the pharmaceutical sector has significantly fueled the growth of the Microcrystallic Cellulose (MCC) market. MCC, a form of refined and purified cellulose, is an essential excipient used in pharmaceuticals for its binding, thickening, and disintegrating properties. The increasing demand for pharmaceutical products, particularly in emerging economies, is driving the market's growth. Additionally, the ongoing research and development in the pharmaceutical industry to produce more effective and patient-friendly dosage forms will further boost the demand for MCC.
In the realm of business and industry, the pharmaceutical sector holds a substantial share in the global microcrystalline cellulose (MCC) market in 2023. This growth can be attributed to the burgeoning pharmaceutical industry, which is a significant consumer of MCC. As an indispensable excipient, microcrystalline cellulose is extensively utilized in the pharmaceutical industry, primarily for producing solid dose forms, such as tablets. Its exceptional compressibility properties enable it to function as a binder, stabilizer, film-forming agent, suspension agent, and disintegrant in various tablet formulations, ointments, and topical bases. The processed food industry is another notable consumer of MCC, utilizing it as a stabilizer and thickening agent.
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Microcrystalline Cellulose (MCC) Market Segmentation
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Microcrystalline Cellulose (MCC) is a refined form of cellulose derived from Alpha-cellulose, obtained through the treatment of wood pulp or non-wood sources with mineral acids. The resulting product undergoes freeze-drying to produce fine, white, odorless, and tasteless particles. MCC is widely used as an excipient in various industries including pharmaceuticals for tablet formulations, drug development, and suspension agents. In the processed food industry, it functions as a stabilizer, binder, film-forming agent, and disintegrant. MCC also finds applications in ointments, personal care products, rubber industry, and as a thickener in foodstuffs like meats and dairy products. Other cellulose derivatives such as Carboxymethyl cellulose (CMC), Kappa-carrageenan, Croscarmellose sodium (CCS), and Guar gum are also used in similar applications.
The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals used in the production of various industries, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers. Factors fueling the expansion of the specialty chemicals market include the increasing preference for specialty adhesives and sealants. The surging demand for these products will propel market growth throughout the forecast period. Key raw materials in the specialty chemicals industry include alpha-cellulose, mineral acids, freeze-drying, sucrose, carboxymethyl cellulose (CMC), kappa-carrageenan, croscarmellose sodium (CCS), and guar gum.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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