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Monochloroacetic Acid Market 2018 – 2025 Covering USA, Europe, China, Japan, India, South East Asia

07-30-2018 08:35 AM CET | Industry, Real Estate & Construction

Press release from: Reports Monitor

Monochloroacetic Acid Market

Monochloroacetic Acid Market

Industrially recognized monochloroacetic acid (MCAA), also referred as chloroacetic acid, is the compound that contains at least single covalently bonded atom of chlorine, which has an impact on the chemical behavior of the molecule. In organic synthesis, this carboxylic acid plays crucial of a building block and is a potentially hazardous alkylating agent in comparison to the other related hydrocarbons and chloroacetic acid.

Being a major intermediate constituent in the synthesis of organic components, it is mainly applied in the production of carboxymethylcellulose and starch as the thickening agent for paper, oil drilling, detergents, pharmaceutical, and food applications. Monochloroacetic acid is also used in the manufacturing of insecticides such as dimethoates, as a raw material for betaine personal care product, in agrochemical production such as MCPA herbicides, thioglycolic acid ester as additives in cosmetics, and thioglycolic acid for UV-light stabilizer and even in synthetics caffeine, glycine, and vitamin and malonates production. This vast scope of application demands large amounts of monochloroacetic acid.

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Factors influencing the market Scenario:
Escalating demand for MCAA from agrochemical industry and various application of monochloroacetic acid in the production of various ingredients importantly in Carboxymethyl Cellulose (CMC) majorly propels the growth of the market. Furthermore, growing usage of cellulosic in several end-use sectors such as pharmaceuticals, detergents, ceramics, food & beverages and personal care, as well as in the chemical industry, is expected to flourish the need for MCAA. Besides, mounting demand for CMC in activities such as oil drilling is anticipated to expand the market weight for monochloroacetic acid in the coming years.

However, fluctuating raw material prices, depletion of oil and gas reservoirs, and harmful effects of monochloroacetic acids might restrain the further growth of the market. Newly rising taconite and iron ore mining practices, promising growth in the use of cyanoacetic acid, and high growth in construction industries of developing economies provide lucrative opportunities to market players to widen their perspective.

Regional Analysis:
According to geographical distribution, the market is segmented into North America, Asia-Pacific, Europe and Latin America, the Middle East & Africa. Asia-Pacific is the major performer in the global market of monochloroacetic acid, followed by Europe. Factors attributed to the growth of Asia-Pacific market are huge demand from the various end-use industries such as textiles, agrochemicals, and pharmaceuticals. Crop safety and chemical production are among the top activities of agriculture in countries such as China, India, Netherlands, and Germany, owing to the increased spending on the development of these chemicals. Moreover, consumption of monochloroacetic acid in huge quantities for polymers & plastics, organic & inorganic chemicals, dye & personal care products, and swift industrialization in the region is expected to stimulate further expansion of the market. Demand for MCAA, intended for the use in CMC manufacturing in Europe was responsible for the growth of the market; nevertheless, use of CMC has reduced in last few years due to volatility in prices of raw material resulting into shutting down of plants. The growth of the market in North America is positively leveraged by growing pharmaceutical and personal care & cosmetic market. Besides, rapid improvement in the agricultural activities supports the growth of the monochloroacetic acid market. Abundant features of the product including viscosity transformer in exploration & drilling of oil wells and water retention agent tends to spur the monochloroacetic acid market in Middle Eastern and Gulf Cooperation Council region.

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Competitive Landscape:
Leading vendors in the global monochloroacetic acid market are adopting various strategic activities, which majorly include acquisition and forming a joint venture. Recently, in May 2017, Akzo Nobel N.V., leading paints & coatings as well as specialty chemical company, has officially agreed on the joint venture partnership with chemicals manufacturing company Atul Ltd. Akzo Nobel N.V. globally is also the only producer of monochloroacetic acid with their outstanding patented hydrogenation technology. Under this agreement, the companies will develop a new plant in Gujarat at Atul’s Facility by the first quarter of 2019. The venture has been registered under the name of “ANAVEN” and with 50% shareholding by both the partners.

Global Monochloroacetic Acid Market Segmentation
By Form:
Crystalline
Liquid
Powdered
Flakes

By Applications:
Carboxymethyl Cellulose
Thickening Agent
Surfactants
Thioglycolic Acid
Others

By End-Use Industry:
Agrochemical
Pharmaceuticals & Personal Care
Food and Beverages
Others

By Geography:
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa

Key Market Players:
Akzo Nobel N.V.
Daicel Corporation Clariant Acetyl Building Blocks GmBH
The Dow Chemical Company
Denak Co. Ltd
Meridian Chem-Bond
Shandong Minji Chemical Co. Ltd.
Niacet Corporation
Jubilant Life Sciences Ltd.
Atul Ltd
Xuchang Dongfang Chemical Co. Ltd

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