Monochloroacetic Acid Market Research Report: By Form (Crystalline, Liquid), Application (Intermediates, Agrochemicals, Thickening Agent, Surfactants), End-Use Industry (Agriculture, Pharmaceuticals, Cosmetic & Personal Care) - Forecast Till 2030

Monochloroacetic Acid Market Overview The global Monochloroacetic Acid Market estimated at US$786.8 Million in the year 2021, is projected to reach a revised size of US$918.9 Million by 2030, growing at a CAGR of 2.5% over the analysis period 2021-2030. Monochloroacetic acid (MCAA), also known by another name called chloroacetic acid, is a specialty organochlorine compound. It is a structured crystalline mass, colorless, highly soluble in water. The global monochloroacetic acid market is mainly driven owing to the rising demand for agrochemicals in major agricultural countries like India, Brazil, China, and many others. Lack of cultivable land and infertility of soil are the major key drivers of the global monochloroacetic acid market.  Furthermore, monochloroacetic acid produces carboxyl methylcellulose (CMC), which is required in bulk for oil drilling activities such as a viscosity modifier. Also, the water retention agent is likely to be used to drive the market growth over the assessment period. Additionally, the product holds an essential position in the pharmaceutical industry. Moreover, it is used for producing drugs such as maleates, diclofenac sodium, n-glycine, ibuprofen, and many others.  The product is primarily used as a thickening agent. It also offers proper texture to cosmetics and personal care products. The increasing demand for cosmetic & personal care products across the globe leads to increasing awareness amongst the consumer, which further anticipates fueling the market growth. Moreover, the product is used to process PVC resins. And hence it is likely to propel the product demand in the plastic industry.  However, fluctuations in the prices pose as a challenge to the market growth over the assessment period. Depleting oil & gas reserves is another concern that may restrain the market growth.

Global Monochloroacetic Acid, by the Application (%)

Source: MRFR analysis

Regional Analysis

The global monochloroacetic acid market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia Pacific accounted for a major share of the global monochloroacetic acid in 2016 owing to high demand from the various end-use industries such as agrochemicals, pharmaceuticals, and textiles. The sanguine demand for agrochemicals on the backdrop of increasing agricultural activities in Association of Southeast Asian Nations (ASEAN), China, and India is expected to boost the MCAA demand in Asia Pacific market.

North America was the second largest region in the global monochloroacetic acid market on account of high demand from the pharmaceuticals and cosmetic & personal care industry. The rapid rise in the agriculture sector in the U.S. is an underlying driver of the market.

Europe is expected to grow at a considerable CAGR on account of the high production from the pharmaceutical industry in the region.

Latin America is expected to witness a significant growth due to the growing agriculture and personal care industries in the region.

Increasing product demand as a water retention agent and viscosity modifier in exploration & drilling of oil deposits is likely to drive the market in GCC countries in the Middle East region.

Segmentation

The global monochloroacetic acid market is segmented on the basis of the form, application, end-use industry, and region.

Based on the form, the global monochloroacetic acid market is segmented into crystalline, liquid, powdered, and flakes.

The global monochloroacetic acid market is segmented on the basis of the application as carboxyl methyl cellulose, thioglycolic acid, thickening agent, surfactants, intermediates, and others.

On the basis of the end-user industry, the global monochloroacetic acid market is segmented into agrochemicals, pharmaceuticals, cosmetic & personal care, oil & gas, textiles, plastics, and others. Key Players Some of the manufacturers operating in the global monochloroacetic acid market are Akzo Nobel N.V. (Netherlands), CABB GmbH (Germany), Daicel Corporation (Japan), Denak Co., Ltd (Japan), The Dow Chemical Company (U.S.), PCC SE (Germany), Niacet (U.S.), Xuchang Dongfang Chemical Co. Ltd. (China), Shandong Minji Chemical Co., Ltd. (China), Shiv Chem Industries (India), Abhishek Impex (India), Merck KGaA (Germany), Jubilant Life Sciences Ltd. (India), Alfa Aesar, Thermo Fisher Scientific (U.S.), and anugrah IN-ORG(P) LIMITED (India).Recent Development

Intended Audience

• Monochloroacetic acid Manufacturers


• Traders and distributors of monochloroacetic acid


• Research and development institutes


• Potential investors


• Raw material suppliers


• Nationalized laboratory