Monochloroacetic Acid Market Assessment 2018-2023 | Global Key Player; Akzo Nobel N.V., CABB GmbH, Daicel Corporation, Denak Co., Ltd, The Dow Chemical Company, PCC SE, Niacet, Xuchang Dongfang Chemical Co. Ltd., Shandong Minji Chemical Co., Ltd., Shiv Ch

Market Overview:

Monochloroacetic acid (MCAA), also known as chloroacetic acid, is a specialty organochlorine compound. It is colorless, crystalline structured mass, highly soluble in water. The global monochloroacetic acid market is primarily driven by the rising demand for agrochemicals in the major agricultural countries such as India, Brazil, China, and others. Lack of cultivable land and infertility of soil are the major drivers of the global monochloroacetic acid market. Furthermore, monochloroacetic acid is used in the production of carboxyl methyl cellulose (CMC), which is required in bulk for oil drilling activities such as a viscosity modifier and water retention agent, which is likely to drive the market growth over the assessment period. Additionally, the product holds a vital place in the pharmaceutical industry and is used for producing drugs such as maleates, ibuprofen, diclofenac sodium, n-glycine, and others. The product is also used as a thickening agent and offers proper texture to the cosmetics and personal care products. The increasing demand for cosmetic & personal care products across the globe due to increasing awareness amongst the consumer is expected to fuel the market growth further. Moreover, the product is used in the processing of PVC resins, which is likely to propel the product demand in the plastic industry. However, fluctuations in raw material prices may challenge the market growth over the assessment period. Depletion of oil & gas reserves is another concern that may restrain the market growth.

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Nevertheless, the market players are focusing on the key developments such as mergers, joint ventures, acquisition, and others to strengthen their business position in the market. For instance, CABB, a German-based manufacturer of MCAA entered into a joint venture with Jining Gold Power, China in April 2016 to strengthen their foothold in the Asian market. In May 2017, AkzoNobel and Atul Ltd agreed to a joint venture partnership for the production of monochloroacetic acid in India by establishing a new plant at Atul’s facility in Gujarat.

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).

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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.

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