Monochloroacetic Acid (MCAA) Market Comprehensive Industry and Vendor Landscape 2027 | Nufarm Limited, Niacet Corporation, Jubilant Life Sciences Limited

Global Monochloroacetic Acid (MCAA) Market to Witness Upward Trend with Increasing Demand for Herbicides

Global Monochloroacetic Acid (MCAA) Market, By Application (Production of Chemical Compounds(Carboxymethylcellulose, Thioglycolic Acid, Technical Grade Glycine, and Others (Cyanoacetic Acid, Glycolic Acid, Betaine)), Drugs(USP Grade Glycine, Others (Ibuprofen)), Herbicides & Insecticides (Technical Grade Glycine, 2,4-D, 2,4,5-T, Others (MCPA, Dimethoate)) and Others (Others (Indigo Dyes, Amphoteric Surfactants))), By End Use (Pharmaceutical Industry, Chemical Industry(Agrochemicals, Specialty Chemicals, Others (Dyes, Detergents, Polymers, Pulp & Paper), Food & Beverages Industry, Personal Care Industry, Others (Oil & Gas)), and by Regions (North America, Latin America, Europe, Asia Pacific, Middle East, & Africa) is estimated to be valued at US$ 551.6 Mn in 2021 and is expected to exhibit a CAGR of 66.5% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

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Market Overview:

Monochloroacetic acid is used primarily in the industrial production of carboxymethyl-cellulose, herbicides, and thioglycolic acid. It is also used in production of plastics, pharmaceuticals, flavors, cosmetics, and other organic chemicals.

Competitive Landscape:

Major players operating in the global monochloroacetic acid (MCAA) market include, Archit Organosys Limited, AkzoNobel N.V., CABB Group, IOL Chemicals & Pharmaceuticals Limited, Jubilant Life Sciences Limited, Meridian Chem Bond Pvt. Ltd., Nufarm Limited, Niacet Corporation, Shandong Minji Chemical Co., Ltd., and S. R. Drugs and Intermediates Pvt. Ltd.

Key Market Drivers:

Increasing demand for herbicides is expected to propel growth of the global monochloroacetic acid (MCAA) market over the forecast period. For instance, in 2014, farmers in the U.S. sprayed enough glyphosate to apply ~1.0 kg/ha (0.8 pound/acre) on every hectare of cultivated land and nearly 0.53 kg/ha (0.47 pounds/acre) on all cropland worldwide.

Covid-19 Impact Analysis

The COVID-19 pandemic can affect the global monochloroacetic acid (MCAA) market in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on companies.

Key Takeaways

Major players operating in the global monochloroacetic acid (MCAA) market are focused on increasing production to enhance their market share. For instance, in April 2021, Anaven, a joint venture between specialty chemicals firm Nouryon and agricultural chemicals maker Atul, commenced production of monochloroacetic acid at their newly opened facility in Gujrat, India.

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Major players operating in the global monochloroacetic acid (MCA) market are also focused on expanding their global presence. For instance, in January 2019, Nouryon started a new headquarters office and research center to support its operations in India.

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Coherent Market Insights
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.