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Monochloroacetic Acid (MCA) Market - Global Industry Analysis, Size 2020 | Research Report
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Monochloroacetic acid is used on a large scale in the production of carboxymethyl cellulose. The extensive use of carboxymethyl cellulose in oil drilling is forecast to drive the global monochloroacetic acid market. The rising demand for agrochemicals such as glyphosate is also expected to augment the monochloroacetic acid market. However, the manufacturers of monochloroacetic acid are constantly challenged by the volatility of the prices of raw materials such as methanol and acetic acid. This will curtail the growth of the market. Chloroacetic acid is used widely in various activities in mining. The rising taconite and iron ore mining activities will create new opportunities for the global monochloroacetic acid market.
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Depending upon the various applications of monochloroacetic acid, the global monochloroacetic acid has been segmented into agrochemicals, surfactants, thioglycolic acid, cellulosics, and others. The report mentions that in 2013, cellulosics accounted for more than 32% of the overall market and thus emerged as the leading application segment. The agrochemicals segment was the second largest application segment of the market. Both segments are expected to grow exponentially during the forecast horizon. The application of MCA in the production of thiglycolic acid and surfactants is also estimated to grow substantially due to the latter’s roles in the manufacture of intermediary compounds such as imidazolines and betaines, which are further used to make various products in the personal care industry. The study provides a conclusive view on the monochloroacetic acid market by segmenting it based on applications. All the applications have been analyzed based on present and future trends, and the market has been estimated from 2014 to 2020. Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of World (RoW).
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The report has categorized the global monochloroacetic acid market into four key regions: Europe, Asia Pacific, North America, and Rest of the World. In 2013, the market was driven primarily by demand from Asia Pacific due to the rising industrial landscape for personal care, agrochemicals, and manufacturing. Europe, North America, and Rest of the World jointly held 35% of the global monochloroacetic acid market. The report mentions that the key players of the global monochloroacetic acid market include Niacet Corporation, CABB GmbH, AkzoNobel N.V, Dow Chemical Company, MCAA SE, Daicel Corporation, and Denak Co. Ltd, among others.
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