According to the latest report by IMARC Group, titled "Monochloroacetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global monochloroacetic acid market reached a value of US$ 858.1 Million in 2021. Monochloroacetic acid (MCA) is a colorless hygroscopic compound with the chemical formula (C2H3ClO2). It is manufactured by the chlorination of acetic acid or the hydrolysis of trichloroethylene using sulfuric acid. MCA is characterized by a penetrating, burning odor and is widely available in the form of flakes and aqueous solutions. It is easily soluble in water and several organic solvents, including ether, alcohol, methanol, acetone, benzene and chloroform, and is slightly soluble in hydrocarbons and chlorinated hydrocarbons. MCA is extensively utilized across numerous industries for the production of herbicides, thickening agents, preservatives and bacteriostats. Apart from this, it is also used as an intermediate in the production of other chemicals, such as phenoxyacetic acid, carboxymethylcellulose (CMC) and thioglycolic acid (TGA).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Monochloroacetic Acid Market Trends:
The global market is primarily driven by the significant growth across numerous end use industries. The increasing utilization of MCA in the agricultural sector is providing a thrust to the market growth. MCA forms an essential component in the production of various agrochemicals, such as pesticides, herbicides, insecticides and fungicides. These chemicals are widely used in the agriculture sector for protecting crops and enhancing the overall yield while maintaining fertility for the next crop production cycle. The market is further driven by the use of MCA in the manufacturing of numerous drugs in the pharmaceuticals sector, including ibuprofen and vitamin B6. Additionally, it is used in the healthcare industry for the treatment of skin lesions and atherosclerosis. Along with this, MCA is utilized as an intermediate in the textile industry and for the production of polyvinyl chloride (PVC) resins in the plastics industry, thereby contributing to its escalating demand. Such expanding applications across various industrial verticals, along with extensive research and development (R&D) for the production of novel products, are further catalyzing the market growth. On account of the aforementioned factors, the market is projected to grow at a CAGR of 3.8% during 2022-2027.
- On the basis of the process type, the market has been classified into chlorination, hydrolysis and others.
- Based on the product form, the market has been divided into crystalline, liquid and flakes.
- On the basis of the application, the market has been categorized into glycine, cellulose, surfactants, 4,2,4- dichloro phenoxy acetic acid, thioglycolic acid and others.
- Based on the end-use industry, the market has been segmented into personal care and pharmaceuticals, agrochemicals, geological drillings, dyes and detergents, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AkzoNobel N.V., CABB GmbH, Denak Co. Ltd., Daicel Corporation, Meridian Chem Bond Pvt. Ltd., Niacet Corporation, PCC Rokita SA, Archit Organosys, and Shandong Minji Chemical Co. Ltd.
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