The monochloroacetic acid market is becoming popular among pharmaceutical manufacturers where its use as a component in the production of maleates, ibuprofen, diclofenac sodium, n-glycine, and others. Personal care and cosmetics industry are also having significant use of the component as a thickener. In the production of PVC resins, the component is gaining traction as well. As a by-product of monochloroacetic acid, sodium chloroacetate is garnering accolades as herbicide which can propel the monochloroacetic acid market growth. In the textile industry, monochloroacetic acid finds use as an intermediate in the production of indigo dyes. The demand is burgeoning as the fashion industry is finding it challenging to maintain the pace with the constantly changing trends of fashion. But the monochloroacetic acid market can find it difficult to stay apace as the price of the raw materials fluctuates quite often.
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The global monochloroacetic acid market is expecting robust growth with which it can exceed the expected market valuation during the forecast period (2017-2023), explains Market Research Future (MRFR). This extensively studied report encompasses segmental analysis depending on various parameters, drivers that can impact the global market significantly in the coming years, and the latest updates of different market players.
Market Segmentation: –
MRFR segments the monochloroacetic acid market by form, application, and end-use industry for a better understanding of the market prospect in the coming years.
Based on the form, the monochloroacetic acid market can be segmented into crystalline, liquid, powdered, and flakes.
Based on the application, the monochloroacetic acid market includes carboxyl methyl cellulose, thioglycolic acid, thickening agent, surfactants, intermediates, and others.
The end-user segment of the monochloroacetic acid market comprises agrochemicals, pharmaceuticals, cosmetic & Personal care, textiles, plastics, oil & gas, and others.
Competitive Analysis: –
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).
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In 2018, PCC SE declared their plan to expand their monochloroacetic acid plant in Poland to keep up with the demand generated by various end-user industries. The production capacity would increase from 42,000 metric tons to 100,000 metric tons.
AkzoNobel and Atul agreed on setting up a production unit in Gujarat in 2019. AkzoNobel plans to expand their incremental investments through this tie-up. Both the companies would benefit from their plans. Atul’s growing popularity would be substantiated by the production.
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.
Growing demand from agriculture, textile, and pharmaceuticals are boosting the APAC market, riding on which the region is fetching the maximum market share. Furthermore, a lot of major companies are based out of India, China, and Japan which is substantially assisting the market in having unprecedented growth.
North America has the second largest market. The regional market is getting driven by the pharmaceutical industry and the personal care & cosmetic industry. Europe and Latin America are also going to register a significant hike in terms of revenue.
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.
Table Of Contents:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
5 Market Dynamics Of Global Monochloroacetic Acid Market
To be Continue….
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