For the Quarter Ending September 2025
North America
• In the USA, the Microcrystalline Cellulose Price Index fell 7.54% quarter-over-quarter due to oversupply pressure.
• The average Microcrystalline Cellulose price for the quarter was approximately USD 3125.00/MT, reflecting import landed costs.
• Microcrystalline Cellulose Spot Price weakened as inventories pressured transactions, mirroring softer Price Index across hubs.
• Microcrystalline Cellulose Price Forecast indicates recovery potential as logistics costs rise and seasonal procurement increases.
• Microcrystalline Cellulose Production Cost Trend shows upward pressure from freight and energy, offsetting margin squeezes.
• Microcrystalline Cellulose Demand Outlook remains subdued with pharmaceuticals and nutraceuticals delaying purchases amid macroeconomic uncertainty.
• High inventory levels and redirected exports reduced U.S. import urgency while some producers schedule maintenance.
• Spot market volatility persisted as port logistics normalized, influencing distributor buying and term Price Index.
Why did the price of Microcrystalline Cellulose change in September 2025 in North America?
• Elevated inventories and oversupply from Asian producers reduced domestic demand and pressured U.S. price levels.
• Persistent freight and energy cost increases raised landed costs, partially supporting near-term price floors overall.
• Tariff uncertainty and strategic buyer frontloading then drawdowns created uneven procurement, amplifying transactional weakness further.
APAC
• In China, the Microcrystalline Cellulose Price Index fell by 6.82% quarter-over-quarter, reflecting inventory-driven discounting pressure.
• The average Microcrystalline Cellulose price for the quarter was approximately USD 3028.33/MT, reported by exporters
• Microcrystalline Cellulose Spot Price weakened as buyers delayed purchases, pressuring FOB offers and reducing leverage.
• Microcrystalline Cellulose Price Forecast indicates modest month-on-month recovery driven by restocking and tightening port capacities.
• Microcrystalline Cellulose Production Cost Trend showed lower feedstock prices then rising pulp costs, inflating margins.
• Microcrystalline Cellulose Demand Outlook remains cautious with pharmaceutical destocking and slower food procurement, limiting momentum.
• Logistics bottlenecks, typhoon disruptions and tariff impacts supported temporary Microcrystalline Cellulose Price Index rebounds mid-quarter.
• Major producers resumed after maintenance, restoring flows while inventories remained elevated across coastal warehouse hubs.
• Exporters aggressively discounted to defend market share against India and Southeast Asia, constraining near-term margins.
Why did the price of Microcrystalline Cellulose change in September 2025 in APAC?
• Elevated inventories from Q2 overproduction forced exporters, lowering offers to clear backlogs and reduce stocks.
• Reduced global demand and pharmaceutical sector destocking weakened buying, compressing Microcrystalline Cellulose export price momentum.
• Yuan appreciation and logistics bottlenecks increased USD-equivalent costs and delayed shipments, prompting competitive discounts thereby.
Europe
• In Germany, Microcrystalline Cellulose Price Index fell 6.42% quarter-over-quarter, reflecting excess supply and weak demand.
• The average Microcrystalline Cellulose price for the quarter was approximately USD 3131.67/MT, reflecting subdued demand.
• Microcrystalline Cellulose Spot Price weakened as Price Index reflected high inventories and muted spot buying.
• Microcrystalline Cellulose Price Forecast indicates upside into Q4 given high stocks and cautious buyer behavior.
• Microcrystalline Cellulose Production Cost Trend eased as Chinese input prices fell and freight affordability improved.
• Microcrystalline Cellulose Demand Outlook remains weak as pharmaceutical, food, and cosmetics sectors prioritize inventory draws.
• Microcrystalline Cellulose Price Index fell through Q3, reflecting July recovery August renewed declines and oversupply.
• High inventory levels and port congestion limited order activity, while selective export demand supported offtake.
Why did the price of Microcrystalline Cellulose change in September 2025 in Europe?
• Excess inventories and subdued downstream consumption reduced buying urgency, pressuring Microcrystalline Cellulose Price Index downward.
• Lower Chinese input costs and Euro appreciation eased landed costs, contributing to downward pressure overall.
• Logistical bottlenecks and port congestion increased lead times, prompting cautious procurement and inventory management practices.
For the Quarter Ending June 2025
North America
• The overall Microcrystalline cellulose market in North America exhibited a slightly downward trend in Q2 2025, with an average quarter-over-quarter price change of approximately -0.48%. Microcrystalline cellulose spot prices Index in June around USD 3,340/MT, reflecting a softening trajectory influenced by oversupply and cautious procurement.
• In April, a combination of increased global production capacities in Asia, coupled with softening domestic demand from pharmaceutical and food sectors, caused notable downward pressure on import prices. The appreciation of the U.S. dollar and lower freight rates also contributed to a reduced landed cost.
• May reversed the prior month’s decline as elevated production costs abroad—particularly in China due to environmental constraints and feedstock price increments—alongside a surge in freight rates, resulted in firmer import prices. Demand expanded notably from food & beverage and pharmaceutical industries resuming restocking.
• June saw a resumption of price declines attributable to persistent oversupply, inventory overhang, and weakening downstream demand. Improved port logistics in Los Angeles alleviated bottlenecks but failed to halt the price erosion given competitive pressures and cautious buyer behavior.
• Microcrystalline cellulose Production cost trends in the quarter showed volatility: April benefited from lower cellulose feedstock prices, while May faced upward cost pressures linked to raw materials and energy in exporting countries, and June observed easing input costs with reduced global energy prices.
• Microcrystalline cellulose Demand outlook evolved from softness in April—driven by inventory corrections and reduced procurement—to strengthened restocking activity in May as consumption normalized, then tapered off in June due to macroeconomic uncertainties and shifting buyer strategies towards inventory drawdown.
• Microcrystalline cellulose Spot price volatility reflected underlying market dynamics, with importers exhibiting increased caution in June due to tariff uncertainties and fluctuating freight expenses, resulting in less aggressive forward purchasing despite historically elevated supply.
• The Microcrystalline cellulose market saw a broad buyer preference for maintaining flexible procurement strategies to navigate the interplay of global supply fluctuations, currency variations, and logistics complexities during this quarter.
• Forward-looking Microcrystalline cellulose price forecasts suggest a strong upward trend into Q3 2025, contingent upon stabilization of global supply chains and consistent demand revival in key application sectors, although potential external shocks remain risks.
• Shipping logistics in Q2 played a critical role; April benefited from improved freight rates, May faced congestion and surcharges contributing to cost inflation, while June’s improved cargo flow alleviated some delivery risks, albeit without substantially reversing price declines.
APAC
• The APAC Microcrystalline cellulose market experienced an overall mixed but slightly downward trend with an average quarter-over-quarter price variation of approximately -1.0%, concluding June price index near USD 3,150/MT due to a combination of inventory build-ups and demand softening.
• April saw a steady price rebound supported by a weaker Chinese yuan boosting export competitiveness, seasonal demand upticks, and port congestion in North China limiting immediate supply, which underpinned export prices despite cautious domestic procurement.
• In May, environmental regulations tightened manufacturing outputs in China, while production costs rose due to increasing raw material, energy expenses, and labor costs. This contributed to sustained price increases amid robust restocking activities from pharmaceuticals and food sectors globally.
• By June, Microcrystalline cellulose prices declined as global demand softened, high inventory levels from Q2 production surpluses were liquidated aggressively, and easing energy and feedstock prices allowed exporters to reduce export price points strategically to maintain market share amid rising competition from Indian and Southeast Asian suppliers.
• The Microcrystalline cellulose production cost trend showed a gradual uptick in the first two months driven by regulatory and energy cost pressures, followed by a slight relaxation in June aligned with input price softening and improved supply chain operations.
• Microcrystalline cellulose Demand outlook was optimistic early in the quarter with strong seasonal end-use demand and tariff-driven export surges, while later flat demand and buyer caution, prompted by higher inventories and economic uncertainties, capped price resilience.
• Port congestion and related logistical constraints in major Chinese hubs significantly influenced supply reliability and pricing behavior through April and May but eased in June, improving shipment turnaround times.
• Exporters increasingly adopted aggressive pricing and discounting strategies in June to counteract competitive pressure and manage piled-up inventories, impacting overall price levels in the region.
• The Microcrystalline cellulose spot price movements illustrated sensitivity to currency fluctuations and regulatory dynamics, with exporters balancing margin preservation against demand retention.
• Microcrystalline cellulose Price forecasts for Q3 2025 indicate a cautiously stable to modestly upward trend, contingent upon global demand recovery and regulatory compliance resolutions that might moderate production curtailments.
Europe
• Europe’s Microcrystalline cellulose market showed price volatility in Q2 2025 with an overall downward tendency averaging a quarterly price change near -0.43%, with spot prices finishing June around USD 3,260/MT influenced by inventory surpluses and softened demand.
• April’s import prices surged due to supply constraints from Asian producers facing environmental inspection-induced halts and enhanced logistical costs, combined with strong seasonal demand from food and pharmaceuticals in Germany supporting significant price momentum.
• Microcrystalline cellulose Supply dynamics in April were challenged by European logistical disruptions, including port congestion in Antwerp and Hamburg compounded by limited inland transport capacity, which exacerbated delivery delays and pressured inventory management.
• May saw supply tighten further with production restrictions in India and China, increased raw material costs (particularly diosgenin), and elevated freight rates, prompting buyers in Germany to replenish stocks actively to hedge against escalating prices.
• June experienced a reversal with import prices falling due to accumulated high stock levels across distributors, cautious buyer behavior amid weak downstream consumption, persistent logistical bottlenecks, and subdued macroeconomic indicators signaling slowed industrial activity.
• Microcrystalline cellulose Production cost trends were sharp in May with marked raw material price inflation and environmental compliance costs, but June reflected easing cost pressures aligned with demand slumps and inventory normalization.
• Microcrystalline cellulose Demand in the quarter was firm during early months, driven by pharmaceutical, nutraceutical, and food sectors, yet weakened considerably by June as downstream buyers prioritized stock clearance, exhibiting conservative procurement and delayed restocking.
• The complex interplay of supply chain disruptions, environmental audits, import tariff impacts, and logistic constraints created an uncertain market environment, influencing pricing strategies toward risk mitigation rather than aggressive buying.
• Microcrystalline cellulose spot prices fluctuated with market sentiment swings, notable risk aversion among European buyers, and inventory adjustments across the quarter influencing transactional volumes and forward price commitments.
• Microcrystalline cellulose Price forecasts for Q3 2025 remain cautious with expectations of continued price rise supported by persistent rise in regional quotations with improved trade scenarios.
For the Quarter Ending March 2025
North America
In Q1 2025, the U.S. Microcrystalline Cellulose (MCC) market experienced strong price increases through January and February, driven by heightened demand from the pharmaceutical, food, and cosmetics sectors. Manufacturers in these industries secured stocks amid supply chain disruptions, particularly those related to port congestion and labor shortages. Additionally, rising wood pulp prices in China and increased shipping costs further contributed to upward pricing pressure. These factors created a tight market environment, maintaining elevated prices through much of the quarter.
By February, the market was still under the influence of logistical constraints, with shipping backlogs and delays following the Chinese Lunar New Year exacerbating supply shortages. Speculative buying and stockpiling intensified the upward trend as traders and manufacturers anticipated continued disruptions. The weakening of the U.S. dollar against major currencies also raised import costs, reinforcing the price surge in MCC.
However, in March 2025, the market began to stabilize. Improved logistics and reduced speculative purchasing helped ease the upward pressure on prices. While demand from key sectors remained steady, the cooling of speculative buying and better supply flow led to a slight decrease in prices by the end of the quarter, marking a shift toward a more balanced market.
Asia Pacific
In the first quarter of 2025, the Microcrystalline Cellulose market in China showed a shifting trend, beginning with a price rebound in January. The recovery was driven by strong international procurement from the pharmaceutical and food sectors, as buyers anticipated the Lunar New Year holiday disruptions. Chinese suppliers, having aggressively destocked in late 2024, adjusted their pricing strategies to capitalize on improved demand. A slight increase in feedstock wood pulp prices also supported this upward movement, and overall trade performance remained strong despite broader manufacturing slowdowns.
However, by February, market conditions shifted as supply improved significantly after the holiday. Domestic demand weakened, and global economic uncertainties led to softer export activities, creating an oversupply situation. Manufacturers, facing high inventory levels, were compelled to lower prices to sustain sales. Falling wood pulp prices further reduced production costs, enabling more competitive pricing strategies. Trade barriers and tariffs limited export opportunities, intensifying the downward price pressure throughout the month.
The declining trend steepened in March as oversupply conditions persisted and downstream demand remained muted. Manufacturers continued to destock aggressively amid weak procurement from domestic and overseas markets. With soft raw material costs and constrained international trade, Microcrystalline Cellulose prices in China registered a sharp overall decline by the end of Q1 2025, reflecting a buyer-driven market.
Europe
In Q1 2025, the German Microcrystalline cellulose (MCC) market saw significant price fluctuations, beginning with a sharp increase in January. This rise was driven by improved procurement conditions from international suppliers, along with strategic stockpiling by buyers ahead of the Lunar New Year. Despite weak demand in some sectors, such as pharmaceuticals, the market benefited from a stabilized supply side, supporting higher prices and a cautiously optimistic outlook for the quarter.
However, in February 2025, the market experienced a notable price decline. Weaker demand, particularly from the pharmaceutical and food sectors, combined with improved production and steady imports, led to lower prices. Additionally, the easing of logistical challenges, including a significant drop in ocean freight rates, further alleviated supply-side pressures. The appreciation of the euro also contributed to reduced import costs, reinforcing downward price movement.
By March 2025, the market stabilized with moderate recovery, as prices began to adjust to more normalized levels. Despite continued cautious demand and economic uncertainty, the easing of supply chain constraints allowed for a more balanced market. Looking ahead, the market is expected to see gradual price stabilization as supply-side conditions improve, but price volatility may persist depending on global demand and macroeconomic factors.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American Microcrystalline Cellulose market saw a notable decline, with prices staying on the weaker side. The price drop was largely driven by reduced production costs in major manufacturing regions, leading to heightened price competition among global exporters. U.S. buyers delayed purchases, anticipating further price drops, while high domestic inventories led suppliers to adopt aggressive pricing strategies. Additionally, the depreciation of the U.S. dollar against the yuan made imports from China more cost-effective, increasing market pressure.
Chinese imports continued to drive down prices, supported by favorable production conditions in China and the yuan’s depreciation, which kept export prices competitive. Weak demand from the pharmaceutical sector, particularly for Microcrystalline Cellulose used in cholesterol-lowering medications, resulted in stagnant market activity and excess stock. Domestic suppliers, struggling with sluggish sales, implemented aggressive destocking strategies to manage inventory.
By December, the market sentiment remained negative, with reduced procurement and muted demand from key sectors. Intense price competition from Chinese imports further pressured U.S. suppliers, leaving the market in a bearish state with little expectation of price recovery.
Asia Pacific
The APAC Microcrystalline Cellulose (MCC) market, particularly from China, exhibited a general downward trend in Q4 2024, with a brief mid-quarter recovery. In October, the market experienced price corrections driven by weak demand and excess inventory. The resulting supply-demand imbalance created favorable conditions for buyers, compelling manufacturers to reduce prices. Moreover, currency fluctuation played another significant role as a weaker Chinese yuan helped make MCC more affordable for foreign buyers, further driving down export prices for this month also. Supporting to this further, this trend was exacerbated by geopolitical uncertainties, including President-elect Trump’s announcement of potential new tariffs, which prompted aggressive destocking by Chinese suppliers through discounted pricing strategies. Additionally, China's currency devaluation in response to tariff threats added complexity to pricing dynamics, further pressuring export prices. High inventory levels and conservative purchasing strategies from key importing nations reinforced bearish market sentiment. Meanwhile, cost support from feedstock wood pulp remained weak, keeping production costs low and prices under pressure. As a result, these factors collectively sustained the downward trajectory in export prices for Microcrystalline Cellulose from China with market transactions leaning on the southerly side.
Europe
Germany's Microcrystalline Cellulose (MCC) market experienced predominantly bearish conditions throughout Q4 2024. Prices declined due to weak downstream demand and limited procurement activity, exacerbated by the depreciation of the euro against the USD, which increased import costs. Competitive Asian supplies further influenced market dynamics. In November, the downtrend continued, driven by reduced production costs in APAC countries and sluggish economic activity in the eurozone. As a major importer, Germany reflected international pricing trends, with traders adopting cautious strategies. In December, the market faced additional pressures from surplus supply and weakened buying sentiment. Stockpiling during the holiday season resulted in excess inventory, leading to market imbalances. Operational challenges, including adverse weather, reduced workforce availability, and port congestion at Rotterdam and Hamburg, disrupted logistics and raised transportation costs. Consequently, buyers remained hesitant, limiting purchases to immediate needs. The quarter ended with reduced import volumes and sustained price depression, driven by persistent euro devaluation, high inventory levels, and seasonal disruptions.
