Thioglycolic acid (TGA), surfactants, agrochemicals, and cellulosics are the four major segments of monochloroacetic acid market based on their application. Other minor application segments include phenoxyacetic acid and cyanoacetic acid production. Cellulosics will grow at a substantial rate of around 4.5% in the forecast span to hold a major market share by 2024. The surfactants segment will foresee considerable growth due to increasing industrial, sanitary, and home care applications. The segment will grow to over USD 175 million by 2024.
The monochloroacetic acid (MCAA) market is bifurcated on the basis of product as pellets, liquid, and dry powder forms. These forms of the product are used for different manufacturing processes which include medical, personal care products, textiles, and other industrial activities.
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Global monochloroacetic acid market involves the participation of biggies such as AkzoNobel N.V., Daicel Corporation, The Dow Chemical Company, Daicel Corporation, Shandong Minji Chemical Co., CABB GmbH, PCC SE, Niacet Corporation, and, Xuchang Dongfang Chemical Co. Ltd. The strategies of alliances and product innovations are quite rampant across the competitive landscape of the monochloroacetic acid industry.
Monochloroacetic acid, often termed chloroacetic acid is recognized as one of the most halogenated forms of acetic acid. Being reactive in nature, this compound can form a number of intermediates by undergoing reactions. In fact, this fundamental aspect further expands the application horizon of monochloroacetic acid market.
Speaking of the geographical trends, Asia Pacific is forecast to procure a major chunk of the overall industry over the coming seven years, accounting for almost 60% of the overall share by 2024. Other than agrochemical sector, the proliferation of medical, personal care, and textile sectors have also proved to be beneficial for the regional monochloroacetic acid industry growth. MCAA is majorly used for glycine production, which is an intermediate compound obtained from glyphosate herbicide production. Statistics claim, glyphosate is arguably the largest volume of herbicides that are produced worldwide.
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Heavy depletion of petroleum reserves across some of the regions have of late turned out to be a major concern for the monochloroacetic acid market players. Depleting crude oil reserves has subsequently resulted in raw material price discrepancies, thereby generating a supply demand gap in the value chain. However, unprecedented efforts are being continuously undertaken by the raw material manufacturers at the grass root level to overcome these challenges.
Browse key industry insights spread across 140 pages with 195 market data tables & 11 figures & charts from the report, “Monochloroacetic Acid (MCAA) Market” in detail along with the table of contents:
Monochloroacetic Acid (MCAA) Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
Monochloroacetic Acid (MCAA) Market by Process
Monochloroacetic Acid (MCAA) Market by Product
- Dry Powder
Monochloroacetic Acid (MCAA) Market by Application
- Thioglycolic Acid (TGA)
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- South Africa
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