Monochloroacetic Acid Market Segmentation Detailed Study with Forecast to 2027 | AkzoNobel N.V., CABB GmbH, Shandong Minji Chemical Co.

Increase in Demand for Monochloroacetic Acid in Oil & Gas Industry Likely to Boost Market

Increase in demand for crude oil and natural gas is encouraging Exploration and Production (E&P) firms to engage in extensive drilling activities. The global monochloroacetic acid market is projected to expand significantly during the forecast period owing to the rise in drilling activities in land and offshore rigs. Hence, increase in demand for carboxymethyl cellulose in oil and gas drilling activities is expected to drive the monochloroacetic acid market.

Get Brochure of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2946

The growth of the monochloroacetic acid market can be ascribed to the rise in demand for carboxymethyl cellulose, as monochloroacetic acid is used in the manufacture of carboxymethyl cellulose. Globally, more than 30% of the monochloroacetic acid is used in the production of carboxymethyl cellulose. Carboxymethyl cellulose is used as a viscosifier in drilling muds for drilling of boreholes for the extraction of oil and gas. It balances physical parameters such as viscosity, thereby reducing the loss of water and increasing the thixotropy of the oil. It also arrests the growth of fungus while drilling mud, thereby terminating the need of preservatives and pH level indicators in the mud. Therefore, demand for monochloroacetic acid is directly proportional to the usage of carboxymethyl cellulose for oil exploration and rig drilling activities.

Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2946

Carboxymethyl Cellulose Segment to Gain Momentum

The report presents a detailed segmentation of the global monochloroacetic acid market based on product and application. In terms of application, the carboxymethyl cellulose segment constituted major share of the global monochloroacetic acid market in 2018. Carboxymethyl cellulose act as thickener, rheology modifier, water retention aid, filtration reducer, binder, dispersant, protective colloid, and floating aid. Carboxymethyl cellulose is used in detergents, drilling fluids, food, mining, paper, textiles. It is also used in the form of viscosifier for retaining loss of fluid during drilling. Carboxymethyl cellulose is also employed in iron ore pelletization and froth flotation. It also increases the quantity and quality of the valuable mineral by deactivating undesired impurities in the gangue depressant process. The carboxymethyl cellulose segment is projected to account for dominant share of the global monochloroacetic acid market during the forecast period.

Get COVID-19 Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2946

Asia Pacific to Lead Global Monochloroacetic Acid Market

Asia Pacific and Europe were key regions of the global monochloroacetic acid market in 2018. The monochloroacetic acid market in Asia Pacific is anticipated to expand rapidly owing to the increase in industrialization across the region. In terms of consumption, China accounted for 50% share of the global monochloroacetic acid market in 2018. Monochloroacetic acid is extensively used to manufacture carboxymethyl cellulose in Europe. The market in North America is projected to expand at a steady pace during the forecast period. The market in Latin America is likely to expand at a substantial pace during the forecast period owing to high demand for agrochemicals and carboxymethyl cellulose in Brazil. Furthermore, rise in oil & gas exploration activities and growth in the agrochemicals industry are fuelling the demand for monochloroacetic acid in the region.

Prominent Players in Global Monochloroacetic Acid Market

Major players operating in the global monochloroacetic acid market include AkzoNobel N.V., CABB GmbH, Shandong Minji Chemical Co., Ltd., PCC SE, Denak Co. Ltd., Niacet Corporation, and Jubilant Life Sciences Limited. These players offer sustainable and durable solutions to clients. Innovation of new products and techniques through R&D is one of the approaches adopted by these companies.

View Complete Report @ https://www.transparencymarketresearch.com/monochloroacetic-acid-market.html

The global monochloroacetic acid market has been segmented as follows:

Global Monochloroacetic Acid Market by Product

Flakes
Crystalline
Liquid

Global Monochloroacetic Acid Market by Application

Carboxymethyl Cellulose
Surfactants
Thioglycolic Acid
Glyphosate
Glycine
Herbicides
Others (Cyanoacrylate Adhesives, Dyestuffs, and Industrial Preservatives)

Explore More Related Reports:

Linear Alkyl Benzene (LAB) Market - https://www.transparencymarketresearch.com/linear-alkyl-benzene-market.html
U.S. Acoustics Market - https://www.transparencymarketresearch.com/us-acoustics-market.html
Naphtha Market - https://www.transparencymarketresearch.com/naphtha-market.html
Lubricants Market - https://www.transparencymarketresearch.com/technology-trends-lubricants-market.html
Pure Plant Oil Market - https://www.transparencymarketresearch.com/pure-plant-oil-market.html

About Us:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision

Contact:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

This release was published on openPR.