Western Market Research predicts that the Global Excipients Market was valued at USD 10.85 Billion in 2025 and is expected to reach USD 20.42 Billion by the year 2036, growing at a CAGR of 5.9% globally. Pharmaceutical excipients, often referred to as "inactive ingredients," have evolved from simple fillers into complex, functional components that are essential for the safety, stability, and bioavailability of modern medicinal products. As the pharmaceutical industry shifts toward precision medicine and advanced drug delivery systems, the role of excipients has become increasingly critical in determining the success of a therapeutic formulation.
Market Description
The global excipients market serves as a fundamental pillar of the pharmaceutical, nutraceutical, and cosmetic industries. While excipients do not possess therapeutic properties of their own, they are indispensable for the manufacturing process. They serve multiple functions: acting as binders to hold tablets together, disintegrants to ensure the pill breaks down in the stomach, lubricants to prevent sticking during high-speed production, and coating agents to mask unpleasant tastes or protect the active pharmaceutical ingredient (API) from gastric acid.
The market is currently witnessing a transition toward "functional excipients" and "co-processed excipients." These are engineered to provide multiple benefits simultaneously, such as improving the flowability of a powder while also enhancing the solubility of poorly soluble drugs. With over 70% of new chemical entities (NCEs) being classified as poorly soluble, the demand for specialized excipients that can enhance drug absorption is at an all-time high. Furthermore, the push for "clean label" products in the nutraceutical sector is driving manufacturers to replace synthetic excipients with natural, plant-based alternatives, significantly influencing the research and development strategies of major market participants.
Global Excipients Market Segmentation
The market is categorized primarily by the chemical nature of the substance and its functional role within the final dosage form.
By Type:
-
Microcrystalline Cellulose (MCC): Widely regarded as the gold standard for binders in tableting due to its excellent compressibility and carrying capacity.
-
Sodium Carboxymethyl Starch: A potent disintegrant used to ensure that solid dosage forms break apart rapidly upon contact with moisture.
-
Hypromellose (HPMC): A versatile polymer used extensively in controlled-release formulations and as a high-quality film coating.
-
Crosslinked Povidone (Crospovidone): Used to enhance the dissolution rate of drugs, acting as a "super-disintegrant."
-
Medicinal Starch: One of the most traditional and cost-effective excipients used for its binding and filling properties.
-
Others: This includes magnesium stearate (lubricant), lactose (filler), and various flavoring and coloring agents.
By Application:
-
Oral Formulations: The largest segment, encompassing tablets, capsules, and powders.
-
Parenteral Formulations: Focused on high-purity excipients for injectables and vaccines.
-
Topical Formulations: Including creams, ointments, and gels where excipients act as emulsifiers or thickness providers.
-
Advanced Drug Delivery: Specialized applications such as transdermal patches and inhalers.
Top Key Players Covered
The competitive landscape is fragmented, with a mix of chemical giants and specialized pharmaceutical ingredient manufacturers. The following key players are instrumental in driving market innovation:
-
Accent Microcell
-
Ahua Pharmaceutical
-
Aoda Pharmaceutical
-
Asahi Kasei
-
Ashland
-
ABF Ingredients
-
CSPC
-
FMC (DuPont)
-
Huzhou Zhanwang
-
Anhui Sunhere
-
Jining Six Best
-
JRS (J. Rettenmaier & Söhne)
-
Juku Orchem
-
Linghu Xinwang
-
Mingtai
-
Qufu Tianli
-
QuFuShi Medical
-
SAMSUNG FINE CHEMICALS
-
Shandong Guangda
-
Shin-Etsu
-
Tembec
-
The Dow Chemical
-
Tongyuan
-
Wei Ming
-
YUNG ZIP
Market Dynamics (DROT Analysis)
Drivers:
The primary driver of the excipients market is the surging demand for generic drugs and biosimilars. As major blockbuster drugs go off-patent, manufacturers require high-quality excipients to create bioequivalent formulations. Additionally, the rising prevalence of chronic diseases requires long-term medication adherence, boosting the demand for oral solid dosages. The shift from batch manufacturing to continuous manufacturing in the pharmaceutical sector also requires excipients with highly consistent physical properties, driving the market for premium-grade materials.
Restraints:
Stringent regulatory requirements and the high cost of clinical validation for new excipients act as a significant restraint. Unlike APIs, there is no standardized global "approval" process for new excipients; they are typically only approved as part of a final drug formulation. This discourages innovation, as excipient manufacturers must find a pharma partner willing to take the risk of using an unproven ingredient in a new drug application. Furthermore, fluctuations in the prices of raw materials, such as wood pulp for cellulose or corn for starch, can impact profit margins.
Opportunities:
The rise of 3D printing in pharmaceuticals presents a massive opportunity for specialized polymers and binders that can be utilized in additive manufacturing. Moreover, the growing focus on "pediatric and geriatric friendly" dosages, such as orally disintegrating tablets (ODTs) and flavored liquids, creates a need for specialized taste-masking excipients. Emerging markets in the Asia-Pacific region, particularly China and India, offer significant growth potential as they harmonize their local standards with international pharmacopeias.
Threats:
The market faces threats from supply chain vulnerabilities, as seen during global logistical crises. A shortage of a single "inactive" ingredient can halt the production of critical life-saving medicines. Additionally, the increasing scrutiny over the safety of certain legacy excipients—such as titanium dioxide—in specific regions like the European Union could force manufacturers to engage in costly reformulations.
Value Chain Analysis
The excipients value chain begins with the procurement of raw materials, which are often derived from natural sources (wood, corn, minerals) or synthetic chemicals. These undergo complex chemical processing—such as etherification for cellulose or polymerization for synthetic resins—to meet medical-grade standards. The mid-stream involves intensive quality control and physical characterization to ensure batch-to-batch consistency. Excipients are then sold to pharmaceutical companies or Contract Development and Manufacturing Organizations (CDMOs). The value-added component at this stage is increasingly focused on technical support, where excipient manufacturers assist pharma companies in solving formulation challenges, such as poor flow or stability issues.
Impact of COVID-19 on Excipients Market
The COVID-19 pandemic significantly affected the excipients market, particularly in 2020. Initially, the industry faced severe supply chain disruptions due to lockdowns in key manufacturing hubs like China and India. However, the crisis also led to a massive spike in demand for excipients used in the production of vaccines (such as lipids for mRNA delivery) and essential medicines like paracetamol and antibiotics. The pandemic highlighted the strategic importance of excipients, leading many governments and pharma companies to shift from "just-in-time" inventory models to "just-in-case" stockpiling, which temporarily inflated market volumes.
Outlook
The future of the excipients market is defined by the move toward "intelligent" ingredients. By 2036, we expect a significant increase in the use of co-processed excipients that are tailored for specific manufacturing technologies, such as direct compression or hot-melt extrusion. Sustainability will also become a core competitive factor, with manufacturers investing in green chemistry and renewable raw materials to reduce the carbon footprint of the pharmaceutical supply chain. As biological drugs continue to gain market share, specialized stabilizers and surfactants for parenteral use will become the highest-value segment of the market. The global excipients industry is no longer just a provider of fillers; it is a critical partner in the drug development process, enabling the next generation of medical breakthroughs.
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1. Market Overview of Excipients
1.1 Excipients Market Overview
1.1.1 Excipients Product Scope
1.1.2 Market Status and Outlook
1.2 Excipients Market Size by Regions: 2015 VS 2021 VS 2026
1.3 Excipients Historic Market Size by Regions
1.4 Excipients Forecasted Market Size by Regions
1.5 Covid-19 Impact on Key Regions, Keyword Market Size YoY Growth
1.5.1 North America
1.5.2 East Asia
1.5.3 Europe
1.5.4 South Asia
1.5.5 Southeast Asia
1.5.6 Middle East
1.5.7 Africa
1.5.8 Oceania
1.5.9 South America
1.5.10 Rest of the World
1.6 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth
1.6.1 Covid-19 Impact: Global GDP Growth, 2019, 2020 and 2021 Projections
1.6.2 Covid-19 Impact: Commodity Prices Indices
1.6.3 Covid-19 Impact: Global Major Government Policy
2. Covid-19 Impact Excipients Sales Market by Type
2.1 Global Excipients Historic Market Size by Type
2.2 Global Excipients Forecasted Market Size by Type
2.3 Microcrystalline Cellulose
2.4 Sodium carboxymethyl starch
2.5 Hypromellose
2.6 Crosslinked povidone
2.7 Medicinal starch
2.8 Others
3. Covid-19 Impact Excipients Sales Market by Application
3.1 Global Excipients Historic Market Size by Application
3.2 Global Excipients Forecasted Market Size by Application
3.3 Application 1
3.4 Application 2
3.5 Other
4. Covid-19 Impact Market Competition by Manufacturers
4.1 Global Excipients Production Capacity Market Share by Manufacturers
4.2 Global Excipients Revenue Market Share by Manufacturers
4.3 Global Excipients Average Price by Manufacturers
5. Company Profiles and Key Figures in Excipients Business
5.1 Accent Microcell
5.1.1 Accent Microcell Company Profile
5.1.2 Accent Microcell Excipients Product Specification
5.1.3 Accent Microcell Excipients Production Capacity, Revenue, Price and Gross Margin
5.2 Ahua Pharmaceutical
5.2.1 Ahua Pharmaceutical Company Profile
5.2.2 Ahua Pharmaceutical Excipients Product Specification
5.2.3 Ahua Pharmaceutical Excipients Production Capacity, Revenue, Price and Gross Margin
5.3 Aoda Pharmaceutical
5.3.1 Aoda Pharmaceutical Company Profile
5.3.2 Aoda Pharmaceutical Excipients Product Specification
5.3.3 Aoda Pharmaceutical Excipients Production Capacity, Revenue, Price and Gross Margin
5.4 Asahi Kasei
5.4.1 Asahi Kasei Company Profile
5.4.2 Asahi Kasei Excipients Product Specification
5.4.3 Asahi Kasei Excipients Production Capacity, Revenue, Price and Gross Margin
5.5 Ashland
5.5.1 Ashland Company Profile
5.5.2 Ashland Excipients Product Specification
5.5.3 Ashland Excipients Production Capacity, Revenue, Price and Gross Margin
5.6 ABF Ingredients
5.6.1 ABF Ingredients Company Profile
5.6.2 ABF Ingredients Excipients Product Specification
5.6.3 ABF Ingredients Excipients Production Capacity, Revenue, Price and Gross Margin
5.7 CSPC
5.7.1 CSPC Company Profile
5.7.2 CSPC Excipients Product Specification
5.7.3 CSPC Excipients Production Capacity, Revenue, Price and Gross Margin
5.8 FMC
5.8.1 FMC Company Profile
5.8.2 FMC Excipients Product Specification
5.8.3 FMC Excipients Production Capacity, Revenue, Price and Gross Margin
5.9 Huzhou Zhanwang
5.9.1 Huzhou Zhanwang Company Profile
5.9.2 Huzhou Zhanwang Excipients Product Specification
5.9.3 Huzhou Zhanwang Excipients Production Capacity, Revenue, Price and Gross Margin
5.10 Anhui Sunhere
5.10.1 Anhui Sunhere Company Profile
5.10.2 Anhui Sunhere Excipients Product Specification
5.10.3 Anhui Sunhere Excipients Production Capacity, Revenue, Price and Gross Margin
5.11 Jining Six Best
5.11.1 Jining Six Best Company Profile
5.11.2 Jining Six Best Excipients Product Specification
5.11.3 Jining Six Best Excipients Production Capacity, Revenue, Price and Gross Margin
5.12 JRS
5.12.1 JRS Company Profile
5.12.2 JRS Excipients Product Specification
5.12.3 JRS Excipients Production Capacity, Revenue, Price and Gross Margin
5.13 Juku Orchem
5.13.1 Juku Orchem Company Profile
5.13.2 Juku Orchem Excipients Product Specification
5.13.3 Juku Orchem Excipients Production Capacity, Revenue, Price and Gross Margin
5.14 Linghu Xinwang
5.14.1 Linghu Xinwang Company Profile
5.14.2 Linghu Xinwang Excipients Product Specification
5.14.3 Linghu Xinwang Excipients Production Capacity, Revenue, Price and Gross Margin
5.15 Mingtai
5.15.1 Mingtai Company Profile
5.15.2 Mingtai Excipients Product Specification
5.15.3 Mingtai Excipients Production Capacity, Revenue, Price and Gross Margin
5.16 Qufu Tianli
5.16.1 Qufu Tianli Company Profile
5.16.2 Qufu Tianli Excipients Product Specification
5.16.3 Qufu Tianli Excipients Production Capacity, Revenue, Price and Gross Margin
5.17 QuFuShi Medical
5.17.1 QuFuShi Medical Company Profile
5.17.2 QuFuShi Medical Excipients Product Specification
5.17.3 QuFuShi Medical Excipients Production Capacity, Revenue, Price and Gross Margin
5.18 SAMSUNG FINE CHEMICALS
5.18.1 SAMSUNG FINE CHEMICALS Company Profile
5.18.2 SAMSUNG FINE CHEMICALS Excipients Product Specification
5.18.3 SAMSUNG FINE CHEMICALS Excipients Production Capacity, Revenue, Price and Gross Margin
5.19 Shandong Guangda
5.19.1 Shandong Guangda Company Profile
5.19.2 Shandong Guangda Excipients Product Specification
5.19.3 Shandong Guangda Excipients Production Capacity, Revenue, Price and Gross Margin
5.20 Shin-Etsu
5.20.1 Shin-Etsu Company Profile
5.20.2 Shin-Etsu Excipients Product Specification
5.20.3 Shin-Etsu Excipients Production Capacity, Revenue, Price and Gross Margin
5.21 Tembec
5.21.1 Tembec Company Profile
5.21.2 Tembec Excipients Product Specification
5.21.3 Tembec Excipients Production Capacity, Revenue, Price and Gross Margin
5.22 The Dow Chemical
5.22.1 The Dow Chemical Company Profile
5.22.2 The Dow Chemical Excipients Product Specification
5.22.3 The Dow Chemical Excipients Production Capacity, Revenue, Price and Gross Margin
5.23 Tongyuan
5.23.1 Tongyuan Company Profile
5.23.2 Tongyuan Excipients Product Specification
5.23.3 Tongyuan Excipients Production Capacity, Revenue, Price and Gross Margin
5.24 Wei Ming
5.24.1 Wei Ming Company Profile
5.24.2 Wei Ming Excipients Product Specification
5.24.3 Wei Ming Excipients Production Capacity, Revenue, Price and Gross Margin
5.25 YUNG ZIP
5.25.1 YUNG ZIP Company Profile
5.25.2 YUNG ZIP Excipients Product Specification
5.25.3 YUNG ZIP Excipients Production Capacity, Revenue, Price and Gross Margin
6. North America
6.1 North America Excipients Market Size
6.2 North America Excipients Key Players in North America
6.3 North America Excipients Market Size by Type
6.4 North America Excipients Market Size by Application
7. East Asia
7.1 East Asia Excipients Market Size
7.2 East Asia Excipients Key Players in North America
7.3 East Asia Excipients Market Size by Type
7.4 East Asia Excipients Market Size by Application
8. Europe
8.1 Europe Excipients Market Size
8.2 Europe Excipients Key Players in North America
8.3 Europe Excipients Market Size by Type
8.4 Europe Excipients Market Size by Application
9. South Asia
9.1 South Asia Excipients Market Size
9.2 South Asia Excipients Key Players in North America
9.3 South Asia Excipients Market Size by Type
9.4 South Asia Excipients Market Size by Application
10. Southeast Asia
10.1 Southeast Asia Excipients Market Size
10.2 Southeast Asia Excipients Key Players in North America
10.3 Southeast Asia Excipients Market Size by Type
10.4 Southeast Asia Excipients Market Size by Application
11. Middle East
11.1 Middle East Excipients Market Size
11.2 Middle East Excipients Key Players in North America
11.3 Middle East Excipients Market Size by Type
11.4 Middle East Excipients Market Size by Application
12. Africa
12.1 Africa Excipients Market Size
12.2 Africa Excipients Key Players in North America
12.3 Africa Excipients Market Size by Type
12.4 Africa Excipients Market Size by Application
13. Oceania
13.1 Oceania Excipients Market Size
13.2 Oceania Excipients Key Players in North America
13.3 Oceania Excipients Market Size by Type
13.4 Oceania Excipients Market Size by Application
14. South America
14.1 South America Excipients Market Size
14.2 South America Excipients Key Players in North America
14.3 South America Excipients Market Size by Type
14.4 South America Excipients Market Size by Application
15. Rest of the World
15.1 Rest of the World Excipients Market Size
15.2 Rest of the World Excipients Key Players in North America
15.3 Rest of the World Excipients Market Size by Type
15.4 Rest of the World Excipients Market Size by Application
16 Excipients Market Dynamics
16.1 Covid-19 Impact Market Top Trends
16.2 Covid-19 Impact Market Drivers
16.3 Covid-19 Impact Market Challenges
16.4 Porter
Global Excipients Market Segmentation
The market is categorized primarily by the chemical nature of the substance and its functional role within the final dosage form.
By Type:
-
Microcrystalline Cellulose (MCC): Widely regarded as the gold standard for binders in tableting due to its excellent compressibility and carrying capacity.
-
Sodium Carboxymethyl Starch: A potent disintegrant used to ensure that solid dosage forms break apart rapidly upon contact with moisture.
-
Hypromellose (HPMC): A versatile polymer used extensively in controlled-release formulations and as a high-quality film coating.
-
Crosslinked Povidone (Crospovidone): Used to enhance the dissolution rate of drugs, acting as a "super-disintegrant."
-
Medicinal Starch: One of the most traditional and cost-effective excipients used for its binding and filling properties.
-
Others: This includes magnesium stearate (lubricant), lactose (filler), and various flavoring and coloring agents.
By Application:
-
Oral Formulations: The largest segment, encompassing tablets, capsules, and powders.
-
Parenteral Formulations: Focused on high-purity excipients for injectables and vaccines.
-
Topical Formulations: Including creams, ointments, and gels where excipients act as emulsifiers or thickness providers.
-
Advanced Drug Delivery: Specialized applications such as transdermal patches and inhalers.
Top Key Players Covered
The competitive landscape is fragmented, with a mix of chemical giants and specialized pharmaceutical ingredient manufacturers. The following key players are instrumental in driving market innovation:
-
Accent Microcell
-
Ahua Pharmaceutical
-
Aoda Pharmaceutical
-
Asahi Kasei
-
Ashland
-
ABF Ingredients
-
CSPC
-
FMC (DuPont)
-
Huzhou Zhanwang
-
Anhui Sunhere
-
Jining Six Best
-
JRS (J. Rettenmaier & Söhne)
-
Juku Orchem
-
Linghu Xinwang
-
Mingtai
-
Qufu Tianli
-
QuFuShi Medical
-
SAMSUNG FINE CHEMICALS
-
Shandong Guangda
-
Shin-Etsu
-
Tembec
-
The Dow Chemical
-
Tongyuan
-
Wei Ming
-
YUNG ZIP
