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AkzoNobel, Denak, The Dow Chemical Company, CABB GmbH Profiled in Monochloroacetic Acid Market Report 2018 by Global market insights, Inc.
Monochloroacetic Acid (MCAA) Market
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The major application for this market are surfactants, cellulosics, agrochemical and thioglycolic acid(TGA). There is a substantial demand for cellulosics in the market which will promote growth at the rate of 4.5% over the forecast period. The market will be dominated by surfactants segment owing to increasing application in personal care and household products. Moreover, surfactants segment is projected to cross USD 175 million by 2024.
Around 30% of the total monochloroacetic acid (MCAA) production in the world is used for the manufacturing of CMC, which also finds extensive usage in the oil & drilling industry. CMC is used as a viscosifier in drilling muds that help in the drilling of boreholes for extraction of oil & gas. Moreover, it also balances the physical parameters such as adjustment of viscosity, reduction of water loss, and increase in oil thixotropy. CMC also helps in preventing fungal growth in drilling mud, thereby avoiding need for addition of other preservatives and pH level indicators to it. Rising production of CMC to meet the demand from the booming oil & gas sector will also augment the monochloroacetic acid (MCAA) market demand in coming years.
Ethanol is a petroleum product and a primary raw material component used for the production process of monochloroacetic acid. Variation in the petroleum prices due to the fluctuation in the demand and supply ratio, and depleting global crude oil reserves will result in volatile raw material prices for the monochloroacetic acid (MCAA) market. This will be one of the primary restraining factor for the monochloroacetic acid (MCAA) market growth in upcoming years.
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Monochloroacetic Acid (MCAA) Market by Process
• Chlorination
• Hydrolysis
Monochloroacetic Acid (MCAA) Market by Product
• Dry Powder
• Liquid
• Pellets
Monochloroacetic Acid (MCAA) Market by Application
• Cellulosics,
• Agrochemicals,
• Surfactants,
• Thioglycolic Acid (TGA)
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Asia Pacific region is likely to hold 60% share of the global monochloroacetic acid market by 2024. This region is dominated by China, Indonesia, India and Vietnam which support’s various application of the product in the end-user industry such as pharmaceutical, textile and personal care industries. Further, North America market will witness an increase by CAGR of 2.5% owing to development of pharmaceutical industry.
Key players involved in the entire monochloroacetic acid (MCAA) market are The Dow Chemical Company, Denak, Daicel Corporation, CABB GmbH, AkzoNobel N.V., Niacet Corporation, PCC SE, Shiv Chem Industries, Shandong Minji Chemical, Xuchang Dongfang Chemical, Jubilant Life Sciences, Merck KGaA, Abhishek Impex, Anugrah In-Org, Alfa Aesar, Swati Chemical Industries, and S.R. Drugs and Intermediates to name some.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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