Monochloroacetic Acid Market Overview:
The monochloroacetic acid market refers to the global industry involved in the production, distribution, and consumption of monochloroacetic acid (MCA). Monochloroacetic acid is an important chemical compound used in various applications across different sectors.
The globalMonochloroacetic Acid Market Analysisestimated at US$786.8 Million in the year 2021, is projected to reach a revised size of US$918.9 Million by 2030, growing at a CAGR of 2.5% over the analysis period 2021-2030.
MCA is primarily used as a raw material in the production ofcarboxymethyl cellulose(CMC), which is widely utilized in industries such as food and beverages, pharmaceuticals, and personal care products. CMC finds applications as a thickening agent, stabilizer, and binder in a variety of products.
The demand for monochloroacetic acid is driven by its extensive use in the production of CMC. The growth of end-use industries like food and beverages, cosmetics, and pharmaceuticals contributes to the expansion of the monochloroacetic acid market. The increasing consumer preference for convenience foods, personal care products, and pharmaceuticals further fuels the demand for CMC and subsequently MCA.
In addition to CMC production, monochloroacetic acid has other applications. It serves as a precursor in the manufacturing of agrochemicals, surfactants, and dyes. MCA is also utilized in the production of herbicides, insecticides, and glyphosate, which find usage in the agriculture sector.
The monochloroacetic acid market is influenced by factors such as economic growth, industrialization, and government regulations. The market is highly competitive, with several key players operating globally. These companies engage in strategies such as mergers and acquisitions, product innovations, and collaborations to maintain their market position and gain a competitive edge.
However, it is important to note that the aforementioned information is based on the knowledge available up until September 2021. For the most up-to-date and accurate market insights, it is recommended to refer to current industry reports, market research studies, and reliable sources of information.
Segmentation:
MRFR segments the monochloroacetic acid market by form, application, and end-use industry for a better understanding of the market prospect in the coming years.
Based on the form, the monochloroacetic acid market can be segmented into crystalline, liquid, powdered, and flakes.
Based on the application, the monochloroacetic acid market includes carboxyl methyl cellulose, thioglycolicacid, thickening agent, surfactants, intermediates, and others. As a thickening agent, its utility in food beverage industry is quite substantial.
The end-user segment of the monochloroacetic acid market comprises agrochemicals, pharmaceuticals, cosmetic Personal care,textiles, plastics, oil gas, and others. The component is witnessing significant traction from the agrochemicals sector and has a great run in the pharmaceuticals.
Regional Analysis:
MRFR report region-specifically segments theMonochloroacetic Acid Marketinto North America, Europe, Latin America, Asia Pacific (APAC), and the Middle East Africa (MEA).
Growing demand from agriculture, textile, and pharmaceuticals are boosting the APAC market, riding on which the region is fetching the maximum market share. Furthermore, a lot of major companies are based out of India, China, and Japan which is substantially assisting the market in having unprecedented growth.
North America has the second largest market. The regional market is getting driven by the pharmaceutical industry and the personal care cosmetic industry. Europe and Latin America are also going to register a significant hike in terms of revenue.
In 2018, PCC SE declared their plan to expand their monochloroacetic acid plant in Poland to keep up with the demand generated by various end-user industries. The production capacity would increase from 42,000 metric tons to 100,000 metric tons.
Akzo Nobel and Atul agreed on setting up a production unit in Gujarat in 2019. AkzoNobel plans to expand their incremental investments through this tie-up. Both the companies would benefit from their plans. Atuls growing popularity would be substantiated by the production.
Key PlayersSome of the manufacturers operating in the global monochloroacetic acid market are Akzo Nobel N.V. (Netherlands), CABB GmbH (Germany),Daicel Corporation(Japan), Denak Co., Ltd (Japan), The Dow Chemical Company (U.S.), PCC SE (Germany), Niacet (U.S.), Xuchang Dongfang Chemical Co. Ltd. (China), Shandong Minji Chemical Co., Ltd. (China), Shiv Chem Industries (India), Abhishek Impex (India), Merck KGaA (Germany), Jubilant Life Sciences Ltd. (India), Alfa Aesar,Thermo Fisher Scientific(U.S.), and anugrah IN-ORG(P) LIMITED (India).
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