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2022
Monochloroacetic Acid Market

Monochloroacetic Acid Market by Product Form (Crystalline, Liquid, and Flakes) and Application (Chemical Compounds, Drugs, Herbicides & Insecticides, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030"

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Jul 2022 | 170 Views
   
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COVID-19

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Monochloroacetic acid (MCAA) is a specialty organochlorine compound, also known as chloroacetic acid. It is a building block in organic synthesis and is hence used in the production of various chemical compounds, drugs, and agrochemicals. Significant amount of MCAA is consumed for the production of carboxymethylcellulose (CMC), thioglycolic acid, USP grade glycine, and technical grade glycine, which is a major precursor to the production of glyphosate.

These positive factors bode well for the expansion of the monochloroacetic acid market size over the coming years. The global monochloroacetic acid market is mainly driven by increasing demand for the production of carboxymethylcellulose, thioglycolic acid, and glycine. Significant amount of monochloroacetic acid is consumed for the production of CMC, also called as cellulose gel. Use of monochloroacetic acid imparts viscosity boosting and emulsion stabilization properties. Apart from these properties, use of MCAA in CMC production offers alteration of flow and texture of the product. Such attributes impel the use of CMC in the food & beverage industry for applications such as powdered drinks, alcoholic and non-alcoholic beverages, and ice cream. CMC is also widely preferred over synthetic and natural glues, which is expected to drive its demand, and, in turn, increase the consumption of MCAA for CMC production. Fluctuation in natural gas prices affects the cost of production involved in manufacturing acetic acid, which in turn affects the monochloroacetic acid (MCA) market growth.

Market scope and Structure Analysis

Report Metric

Detail

Market size available for years

  2020-2030

  Base year considered

  2020

  Forecast period

  2021-2030

  Forecast unit

  Value (USD)

  Segments Covered

  Product Form and Application

  Companies Covered

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.

 

Covid-19 Impact Analysis 

  • The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the monochloroacetic acid market in 2020.
  • The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
  • The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
  • The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the monochloroacetic acid market.

Top Impacting Factors

Increasing demand from the construction, food, and beverages, personal care, and agriculture sector for carboxymethylcellulose (CMC) and agrochemical will drive the monochloroacetic acid Market growth during forecast period. Further growing textiles industry on account of changing fashion trends, increasing population and purchasing power parity will further fuel the market growth. Other than this it is also used in research and development laboratories, in medical and surgical hospitals and chemical and pharmaceutical preparations, in fabric mills, in communication equipment such as television, radio, telegraph, and automotive stamping. Monochloroacetic acid is primarily used in the manufacture of carboxymethyl cellulose.

Market trends

  • Increasing industrial processes is a key driver for the monochloroacetic acid (MCA) market growth.
  • The two industrial processes in which MCA are most frequently used are chlorination and hydrolysis. The chlorination process is predominant among the two and uses acetic anhydride as a catalyst. It involves adding chlorine to the activity to kill particular bacteria and other microbes. Leading companies in the market use the chlorination process for product manufacturing. The trichloroethylene hydrolysis method produces a highly pure monochloroacetic acid using sulfuric acid as a catalyst. Hydrolysis involves addition of water to the activity to break the condensation that builds up by water removal. Hydrolysis is also used by several companies depending on the purity requirements of the customers and hence the market is prospering.
  • Rising GDP and industrial activities in developing regions will further open new growth avenues for the market.
  • Asia Pacific monochloroacetic acid market holds over 50% industry share followed by Europe. Developing nations in the Asia Pacific region such as China, India, Vietnam, Indonesia, and others have several emerging industries which will drive the market demand. Agriculture based economies like India and China have huge markets for the agrochemicals sector which fuels the market size in these countries. Moreover, rising industries such as textiles, personal care and pharmaceutical further surge the market growth in this region.
  • High Demand from the construction industry of emerging economies.
  • Emerging economies such as China, India, Malaysia, Indonesia, Brazil, Mexico, Argentina, and others are some of the major markets for MCA. The growing infrastructural development and rapid urbanization in emerging economies are encouraging the rise in demand for CMC and surfactants, thus, boosting the demand for MCA. Recent deregulations for the ease of doing business are attracting foreign investments. In addition, modernization of the construction industry also drives the MCA market.

Key Benefits of the Report

This study presents the analytical depiction of the monochloroacetic acid market industry along with the current trends and future estimations to determine the imminent investment pockets.

  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the monochloroacetic acid market share.

  • The current market is quantitatively analyzed from 2020 to 2030 to highlight monochloroacetic acid market growth scenario.

  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

  • The report provides a detailed monochloroacetic acid market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the Monochloroacetic Acid Market Report

  • Who are the leading market players active in the Monochloroacetic Acid Market?

  • What current trends will influence the market in the next few years?

  • What are the driving factors, restraints, and opportunities in the market?

  • What future projections would help in taking further strategic steps?

    • What is “Monochloroacetic Acid Market “?

    • What does " Monochloroacetic Acid Market " allow organizations to achieve?

    • Which technologies combine to make “Monochloroacetic Acid Market “a critical organizational asset?

    • What is " Monochloroacetic Acid Market” Market prediction in the future?

    • Who are the leading global players in the “Monochloroacetic Acid Market” market?

    • What are the current trends and predicted trends?

    • What are the challenges faced in the " Monochloroacetic Acid Market” Market?

    • What are the key benefits of the “Monochloroacetic Acid Market “Market report?

    • What will be the anticipated growth rates for your own Monochloroacetic Acid Market economy altogether and for every segment inside?

    • What are the driving factors and opportunities in the market?            

Key Market Segments

Segments Sub-segments
By Product Form
  • Crystalline
  • Liquid
  • Flakes
By Application
  • Chemical Compounds
  • Drugs
  • Herbicides & Insecticides
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 
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