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Monochloroacetic Acid Market Size to witness heavy growth prospects via food & beverages end-user industries by 2024

Author : Ronak Bora | Published Date : 2019-08-08 

Rapidly growing application in end-user industries such as pharmaceutical, paper, textiles, personal care, food & beverages and oil & gas is fueling the monochloroacetic acid market growth. Growth in textile and food industry owing to shift in consumer fashion trend and consumption pattern towards packaged food products respectively is boosting the monochloroacetic acid market in the forecast timespan.

Ethanol and ascetic acid are major component for producing monochloroacetic acid, these component are derived from crude oil. Fluctuation in crude oil prices owing to lower demand and greater supply of oil will adversely affect the manufacturing prices of the Monochloroacetic acid. This factor may pose as a challenge for the growing monochloroacetic acid market in forecast period.

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Monochloroacetic acid, often termed chloroacetic acid is recognized as one of the most halogenated forms of acetic acid. Being reactive in nature, this compound can form a number of intermediates by undergoing reactions. In fact, this fundamental aspect further expands the application horizon of monochloroacetic acid market. For instance, this organochlorine compound is an integral component in carboxymethyl cellulose (CMC) manufacturing, which finds extensive application across diversified domains, such as food and beverage, paints & coating, textile, paper & pulp etc.  It is therefore no surprise that the growth of all these aforementioned domains will leave a perpetual impact on monochloroacetic acid industry dynamics as well. As per the estimates, approximately 30% of the globally produced MCCA is used in the manufacturing of CMC.

A sizable chunk of the overall monochloroacetic acid market share is obtained from agrochemical application, which is why the growth potential of the market is forecast to be remarkably high in agrarian countries, particularly in the United States and BRICS nations. As per a recent estimation, in the year 2016, 45% of the total land in America and 60% of the total land in India were under cultivation. The population curve of China and India is exponentially increasing, a factor that is subsequently necessitating increased crop production to address the rising food demand curve.

The monochloroacetic acid market products are in a form of dry powder, liquid and pellets. The products have various application in the end-user industry such as personal care, oil & drilling, textiles, pharmaceutical and textiles.

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 monochloroacetic acid 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.

Speaking of the geographical trends, Asia Pacific is forecast to procure a major chunk of the overall industry over the coming seven years, accounting for almost 60% of the overall share by 2024.  Other than agrochemical sector, the proliferation of medical, personal care, and textile sectors have also proved to be beneficial for the regional monochloroacetic acid market growth. MCAA is majorly used for glycine production, which is an intermediate compound obtained from glyphosate herbicide production. Statistics claim, glyphosate is arguably the largest volume of herbicides that are produced worldwide.

The leading companies in monochloroacetic acid market are S.R. Drugs, Denak, CABB GmbH, Swati Chemical, AkzoNobel, Niacet, PCC SE, Xuchang Dongfang, Shiv Chem, Shandong Minji, JUBILANT, Daicel, Abhishek Impex, Merck KGaA, Alfa Aesar, , Anugrah and Dow Chemical.

 

Glimpse of Table of Content (ToC)

Chapter 3. Monochloroacetic Acid (MCAA) Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.   Vendor matrix

3.3.2.   Distributor channel analysis

3.4. Industry impact forces

3.4.1.   Growth drivers

3.4.1.1.    Rising monochloroacetic acid demand in China and India

3.4.1.2.    Rising agrochemicals demand in the U.S. and BRICS nations

3.4.1.3.    Growing demand for carboxymethyl cellulose in oil drilling activities

3.4.2.   Industry pitfalls & challenges

3.4.2.1.    Volatility of raw material prices

3.5. Growth potential analysis

3.6. Technology trends

3.7. Regulatory trends

3.7.1.   U.S.

3.7.2.   Europe

3.7.3.   China

3.8. Porter’s analysis

3.9. Company market share analysis, 2016

3.9.1.   Strategic landscape

3.10.     PESTEL analysis

3.11.        Regional price trends

3.11.1. Cost structure analysis

3.11.2. Raw material trends

Chapter 4. Monochloroacetic Acid (MCAA) Market, By Process

4.1. Global monochloroacetic acid (MCAA) market share by process, 2016 & 2024

4.2. Chlorination

4.2.1.   Market estimates and forecasts, 2013 - 2024

4.2.2.   Market estimates and forecasts by region, 2013 – 2024

4.3. Hydrolysis

4.3.1.   Market estimates and forecasts, 2013 - 2024

4.3.2.   Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/monochloroacetic-acid-MCAA-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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