Monochloroacetic Acid (MCAA) Market is anticipated to grow at a CAGR of 6% from 2023 to 2030

Monochloroacetic Acid (MCAA) Market

The global Monochloroacetic Acid (MCAA) Market is anticipated to grow at a respectable CAGR of close to 6% from 2023 to 2030, according to PMR study.

Monochloroacetic Acid (MCAA) is an organic compound with the formula CH2ClCOOH. It is a colorless crystalline solid that is soluble in water, alcohol, and ether. MCAA is used in various applications such as pharmaceuticals, herbicides, and surfactants. The global MCAA market is expected to witness significant growth over the forecast period due to the increasing demand from end-use industries.

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Market Drivers:

The increasing demand for MCAA from the pharmaceutical industry is a major driver for the global MCAA market. MCAA is used as an intermediate in the production of various drugs such as analgesics, antipyretics, and anti-inflammatory drugs. The growing prevalence of chronic diseases such as cancer and cardiovascular diseases is expected to boost the demand for pharmaceuticals, which in turn will drive the demand for MCAA.

Another driver for the MCAA market is the increasing demand for herbicides. MCAA is used as a raw material for the production of various herbicides such as glyphosate, which is a widely used herbicide in agriculture. The increasing demand for food due to the growing population is expected to drive the demand for herbicides, which in turn will drive the demand for MCAA.

Market Restraints:

The major restraint for the MCAA market is the availability of substitutes. MCAA is used as a raw material for the production of various chemicals, and there are alternative raw materials available for some applications. For example, glycolic acid can be used as a substitute for MCAA in the production of certain surfactants. The availability of substitutes can limit the growth of the MCAA market.

Market Players- 

• AkzoNobel N.V.
• CABB Group
• Nufarm Limited
• Niacet Corporation
• Jubilant Life Sciences Limited
• Shandong Minji Chemical Co.,Ltd.
• Archit Organosys Limited
• IOL Chemicals & Pharmaceuticals Limited
• Meridian Chem Bond Pvt. Ltd.
• S.R.Drugs and Intermediates Pvt. Ltd.

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Monochloroacetic Acid Market Segmentations-

Monochloroacetic Acid Market By Application
• Chemical Compounds
• Drugs
• Herbicides and Insecticides
• Others (Indigo Dyeing Agent, Amphoteric Surfactants)

Monochloroacetic Acid Market By End Use
• Pharmaceuticals
• Chemicals
• Food & Beverages
• Others (Oil & Gas, Personal Care)

Monochloroacetic Acid Market By Region
• North America
• Latin America
• Europe
• Asia Pacific
• MEA

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Key Takeaways from Monochloroacetic Acid Market Study

• By application, the chemical compounds segment is estimated to dominate the global monochloroacetic acid market terms of revenue. The herbicides & insecticides segment is projected to create decent incremental opportunity over the coming years.
• By end use, the chemical and pharmaceuticals segments are projected to hold around 80% market share in 2020.

• Among the regions, Asia Pacific is expected to be the most attractive region for monochloroacetic acid during the forecast period. The market in North America is mainly propelled by rising demand from the pharmaceutical industry. Stringent government regulations pertaining to the use of agrochemicals in Europe are likely to hinder the growth of the MCAA market in Europe.

"The COVID-19 pandemic will impede the growth of the MCAA market to some extent in the near term, due to restrictions and lockdowns. However, in the long term, the market will experience steady growth and give good return on investment," says a PMR analyst.

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