Monochloroacetic Acid Market Share, Size, Growth

Press Release:

Global Monochloroacetic Acid Market to Grow at 3% during 2020-2025, Facilitated by Significant Growth in End Use Sectors

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Monochloroacetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global monochloroacetic acid market exhibited moderate growth during 2015-2020. 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. Looking forward, IMARC Group expects the global monochloroacetic acid market to grow at a CAGR of around 6% during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global monochloroacetic acid market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, 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, Archit Organosys, Shandong Minji Chemical, etc.

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?