According to the report, the Monochloroacetic Acid Market accounted for USD 781.9 Million in 2018 and is expected to reach USD 1029.7 Million by 2026, growing at a CAGR of around 4.5% between 2019 and 2026.
Monochloroacetic Acid Market
The report covers forecast and analysis for the Global Monochloroacetic Acid Market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends and industry-validated market figures. The study provides historic data of 2016 to 2018 along with a forecast from 2019 to 2026 based on volume (Kilotons) and revenue (USD Million).
The Monochloroacetic Acid Market accounted for USD 781.9 Million in 2018 and is expected to reach USD 1029.7 Million by 2026, growing at a CAGR of around 4.5% between 2019 and 2026.
The global monochloroacetic acid market has witness to prominent growth and is expected to grow at a noticeable rate within the forecast period. There is immense scope in monochloroacetic acid market owing to variety of applications and growing demand in the market. Monochloroacetic acid is abbreviated as MCAA which is used as a raw material for the production of carboxymethylcellulose, thioglycolic acid, crop protection chemicals and variety of other products (esters, amides, sodium salt of MCCA). Due to its usage, monochloroacetic acid has become extremely important compound in chemical Industry. It is also used in pharmaceutical, personal care, textile and food and beverages industries. The global sodium acetate market growth relatively depends on the medical, food and preservative industries. The crucial factor which is driving the monochloroacetic acid is the demand of agrochemical industry, wherein the MCAA is used as intermediate for the production of pesticides like dimethoate, chloroacetyl chloride and 2, 4-dichlorophenoxyacetic acid.
The global monochloroacetic acid market has been categorized on the basis of product, applications and end use. Based on product form, monochloroacetic acid has been bifurcated into solid form and molten form. In solid, monochloroacetic acid is in powder or flakes form whereas in molten form it is kept at tempreture more than 80 degree Celsius. Based on application, monochloroacetic acid is used for the production of chemical compounds, drugs, herbicides & insecticides, indigo dyes and amphoteric surfactants. The amphoteric surfactants such as imidazolines and betaines are produced with the help of monochloroacetic acid which then further used as metal cleaning agents in industry. Based on end use industry, monochloroacetic acid caters pharmaceutical, oil & gas, chemicals, food & beverages and personal care industries. In food and beverages, carboxymethylcellulose is utilixzed for making non-alcoholic and alcoholic drinks, powered drinks and ice-creams.
Pharmaceutical sector and Personal care sector are the major factors which are strengthening as well as driving the monochloroacetic acid market. The demand for pharmaceutical and personal care industries has exponentially increased owing to rise in disposable income, changes in lifestyle, consumer preferences and consumption patterns. The consumers have major concern towards cleanliness and hygiene factors which have led the development of both the Pharmaceutical and personal care sectors. One of the factors which might hamper the monochloroacetic acid market is hazardous effect which causes skin and eye irritation. Apart from this, monochloroacetic acid has enormous opportunities in terms of market development.
The Key players in the global monochloroacetic acid market are CABB GmbH, Shandong Minji Chemical Co., Ltd., Niacet Corporation, PCC SE, Denak Co. Ltd., AkzoNobel N.V., and Jubilant Life Sciences Limited.
Global Monochloroacetic Acid Market: Product Form Segment Analysis
Global Monochloroacetic Acid Market: Application Analysis
Global Monochloroacetic Acid Market: End-Use Industry Analysis
Global Monochloroacetic Acid Market: Regional Segment Analysis
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