Monochloroacetic Acid Market Poised to Bring in $1,050.0 million by 2021

Monochloroacetic Acid Market Poised to Bring in $1,050.0 million by 2021

According to the report, global demand for monochloroacetic acid was valued at USD 850.0 million in 2014 and is expected to reach USD 1,050.0 million in 2020, growing at a CAGR of slightly above 3.0% between 2015 and 2020. In terms of volume, the global monochloroacetic acid market stood at around 700.0 kilotons in 2014. Zion Market Research has published a new report titled “Monochloroacetic Acid Market for Cellulosics, Agrochemicals, Thioglycolic Acid, Surfactants and Others Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”

Chloroacetic acid is industrially known as monochloroacetic acid (MCA). It is an organochlorine compound with molecular formula ClCH2CO2H. Monochloroacetic acid is a colorless or white deliquescent crystalline compound. It can be produced by the reaction between acetic acid and chlorine. Monochloroacetic acid is a halogenated derivative of acetic acid that is used as a building block in organic synthesis. It is easily soluble in water, alcohols, acetone, chloroform, and ether and partially soluble in chlorinated hydrocarbons. Thioglycolic acid, agrochemicals, phenoxyacetic acid, surfactants, glycine and others are the major end application industries of Monochloroacetic acid.

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Monochloroacetic acid (MCA) is mainly used in chemical industries in the manufacture of carboxymethyl cellulose (CMC). CMC is used in a broad range of applications, such as detergentsherbicidesfood, textiles, leather & paper industries, coatings, drilling fluids, and cosmetics. Hence, the demand for CMC is expected to rise exponentially due to the strong growth of end-user industries. Moreover, rising population and increasing need for agricultural products are expected to be beneficial for the growth of MCA. In the agricultural sector, increasing demand for agrochemicals such as glyphosate is expected to boost the demand for monochloroacetic acid. However, high prices of raw materials are expected to be major restraints for this market.

On the basis of applications, the monochloroacetic acid market has been classified as cellulosic, agrochemicals, thioglycolic acid, surfactants and others. In 2014, the cellulosic application segment dominated the global monochloroacetic acid market and accounted for more than 30.0% share of the total market.

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Agrochemicals application segment was the second largest application segment for monochloroacetic acid. Demand for agrochemicals is high in developing country such as China and India. Thioglycolic acid, surfactants, and others application are also expected to dominate the global monochloroacetic acid market.

Strong demand from Asia Pacific is mainly responsible for the growth of monochloroacetic acid market. Increasing demand for personal care product manufacturing and agrochemicals industries is likely to boost the demand for MCA in the region during the forecast period. Asia Pacific followed by North America, Europe, Middle East & Africa and Latin America. North America is projected to observer steady growth in the next few years.

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Some of the major industry participants in the monochloroacetic acid market include Denak Co. Ltd., CABB GmbH, Niacet Corporation, Daicel Corporation, AkzoNobel N.V., Dow CHEMICAL Company and Denak Co. Ltd.