Market Overview:

The global monochloroacetic acid market reached a value of US$ 858.1 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,068.3 Million by 2027, exhibiting a CAGR of 3.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Also known as chloroacetic acid, monochloroacetic acid (C₂H₃ClO₂) is a colorless crystalline compound that is produced by the chlorination of acetic acid. It is generally stored in the form of flakes and aqueous solutions for easy transportation. As it is soluble in water and organic solvents, it is widely used as an herbicide, preservative and bacteriostat. It is also utilized as an intermediate in the production of other chemicals, such as carboxymethylcellulose (CMC), phenoxyacetic acid and thioglycolic acid (TGA).

The market is being driven by the extensive utilization of monochloroacetic acid (MCA) in various end-use industries. Due to rapid industrialization, growing population and a decrease in the availability of arable land, there is a rise in the sales of agrochemicals to boost farm production. As MCA is utilized in the production of herbicides, fertilizers and pesticides, including CMC and TGA, this trend has spurred its demand in the agrochemical industry. It also finds applications in the pharmaceutical and cosmetics industries around the world. Moreover, as MCA is a potent keratolytic and caustic topical agent, it is utilized in the production of numerous drugs and the treatment of skin lesions and atherosclerosis. MCAA is also gaining preference as an alternative to cryotherapy for common and plantar warts in primary care as it effectively reduces pain during the treatment. Furthermore, it is employed as an intermediate in the textile industry; in the production of several hair products in the personal care industry; and in the manufacturing of polyvinyl chloride (PVC) resins in the plastics industry. These applications, along with the increasing research and development (R&D) activities to produce novel products, are expected to bolster the market growth in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global monochloroacetic acid market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on process type, product form, application and end-use industry.

Breakup by Process Type:

• Chlorination
• Hydrolysis
• Others
   

Breakup by Product Form:

• Crystalline
• Liquid
• Flakes
   

Breakup by Application:

• Glycine
• Cellulose
• Surfactants
• 4,2,4- Dichloro Phenoxy Acetic Acid
• Thioglycolic Acid
• Other Applications
   

Breakup by End-Use Industry:

• Personal Care and Pharmaceuticals
• Agrochemicals
• Geological Drillings
• Dyes and Detergents
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being AkzoNobel N.V., CABB, Denak Co. Ltd, Daicel Corporation, Meridian Chem-Bond, Niacet Corporation, PCC Rokita SA, Archit Organosys and Shandong Minji Chemical, etc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global monochloroacetic acid market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What has been the impact of COVID-19 on the global monochloroacetic acid market?
• What is the breakup of the market based on the process type?
• What is the breakup of the market based on the product form?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end-use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global monochloroacetic acid market and who are the key players?
• What is the degree of competition in the industry?