Monochloroacetic Acid - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Monochloroacetic Acid Market is accounted for $873.49 million in 2019 and is expected to reach $1,392.21 million by 2027 growing at a CAGR of 6.0% during the forecast period. Increasing demand for carboxymethylcellulose (CMC) and growing demand for agrochemicals are the major factors propelling the growth of the market. However, the harmful effect of MCA exposure is hampering the growth of the market.
Monochloroacetic acid is primarily employed in the production of carboxymethyl cellulose, herbicides, and thioglycolic acid, which are further used in the manufacture of plastics, pharmaceuticals, flavours, cosmetics, and other organic chemicals. It is an intermediate for diverse chemical products. It is a colorless crystalline material formed by chlorinating acetic acid in the presence of a catalyst. The alternative method of production entails hydrolysis of trichloroethene using sulfuric acid. It is highly soluble in water and most of the organic solvents, except carbon tetrachloride. Monochloroacetic acid is obtainable in three crystal modifications: alpha, beta, and gamma. Commercially, monochloroacetic acid is produced in the alpha form and is obtainable as flakes, which are water-soluble.
Based on the end-user, the personal care segment is going to have a lucrative growth during the forecast period owing to the rising awareness of beauty products, changes in consumption patterns, and the impact of globalization on lifestyles, and changing retail landscape in the emerging regions. Hence, considering the aforesaid factors, with the rising demand for personal care products, the demand for monochloroacetic acid is expected to rise, during the anticipated period.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the growth in population, increasing demand for MCA in the formulation of CMC, agrochemicals, and surfactants, which are used in the industries such as building & construction, and agriculture. The market growth in this region is also attributed to higher growth prospects in personal care applications. Eastern regions witnessed approximately two-fifths of the personal care product consumption, which was more than twice the combined contribution by other developing regions. This has indicated the growth potential in this region.
Some of the key players profiled in the Monochloroacetic Acid Market include AkzoNobel N.V, CABB Group, Nufarm Limited, Niacet Corporation, Jubilant Life Sciences Limited, Shandong Minji Chemical Co., Ltd, Archit Organosys Limited, IOL Chemicals & Pharmaceuticals Limited, Meridian Chem Bond Pvt. Ltd, S.R.Drugs and Intermediates Pvt. Ltd, Daicel Corporation, and Kaifeng Dongda Chemical Company.
• Dry Powder
• Production of Chemical Compounds
• Herbicides and Insecticides
• Indigo Dyeing Agent
• Amphoteric Surfactants
End Users Covered:
• Food & Beverages
• Oil & Gas
• Personal Care
• Geological Drillings
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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