Albany, NY -- (SBWIRE) -- 11/13/2017 -- Transparency Market Research announces the release of a new research report, titled "Microcrystalline Cellulose Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". According to the report, the global microcrystalline cellulose (MCC) market is forecast to reach a value of US$936.3 million by 2020.
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The MCC market was pegged at US$632.9 million in 2013 and is anticipated to grow at a 5.8% CAGR from 2014 to 2020.The global MCC market is primarily driven by factors such as growth of the pharmaceutical excipient industry and surge in demand for low-fat foods. The use of eco-friendly raw materials for the production of MCC has been identified as an opportunity for manufacturers to capitalize on. In contrast, the MCC market is hampered by high cost of production and comparatively low yield.
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MCC finds application in industries such as pharmaceutical, food and beverages, personal care, and paints and coatings. Pharmaceutical was the largest application segment in 2013, accounting for a share of over 35% that year. The industry is also projected to be the fastest developing end-use segment from 2014 to 2020, according to the research report. MCC has been declared suitable as an excipient in pharmaceutical applications owing to properties such as efficient binding ability, significant compressibility, and high internal porosity. The pharmaceutical segment is also driven by rise in global geriatric population and development of innovative products. After the US Food and Drug Administration (FDA) approved MCC as a safe food ingredient, its demand from the food and beverages industry has grown. The developing market for low-fat foods is also expected to further the demand for MCC by 2020.
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Geographically, the global market for MCC is segmented into North America, Europe, Asia Pacific, and Rest of the World. Accounting for a 30% share of the overall market, North America dominated the worldwide MCC market in 2013 owing to the roaring demand for MCC from the food and beverages and pharmaceutical industries and the slow yet steady recovery of the U.S. economy. Rising demand for MCC from the Middle East and Latin America is likely to boost the MCC market in the Rest of the World region.Asia Pacific has been identified as the most rapidly developing region in the global MCC market. This spurt in growth can be attributed to increasing demand from emerging economies such as Vietnam, Malaysia, China, Thailand, and India.
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Some of the key manufacturers of MCC in the global market are Asahi Kasei Corporation, MINGTAI CHEMICAL CO., LTD., J. RETTENMAIER & SÖHNE GmbH + Co KG, BLANVER FARMOQUÍMICA LTDA, Accent Microcell Pvt. Ltd., FMC Corporation, JUKU ORCHEM PRIVATE LIMITED, DFE Pharma GmbH & Co. KG, Libraw Pharma, Sigachi Industrial Pvt. Ltd., and Avantor Performance Materials, Inc.