The market for monochloroacetic acid is anticipated to expand significantly during the coming years. It would be interesting to think about how quickly the energy shift will happen given the different need for plastics and specialised chemicals. Spending on chemicals will also require scrutiny. In the years to come, the market would look like this.
The global monochloroacetic acid (MCAA) market is mainly driven by increasing demand for the production of carboxymethylcellulose, thioglycolic acid, and glycine. Monochloroacetic acid, being a major building block in organic synthesis, sees high demand as an intermediate in chemical, pharmaceutical, food & beverage, and personal care industries. However, emerging alternatives for monochloroacetic acid in agrochemical production, such as pyridine, to produce symtet, is posing a challenge to the market to some extent. A recent trend observed in the MCAA market is capacity expansions by key market players and new market entrants through consolidation of backward vertical integrated operations.
The global monochloroacetic acid market is anticipated to grow at a respectable CAGR of close to 6% from 2020 to 2030, according to PMR study.
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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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Competition Analysis of Monochloroacetic Acid Market
The report on the global monochloroacetic acid market profiles some of the top companies operating in the market space. Companies featured in the report are Akzo Nobel N.V., CABB GmbH, Nufarm Limited, Niacet Corporation, Jubilant Life Sciences Limited, Shandong Minji Chemical Co. Ltd., Archit Organosys Ltd., IOL Chemicals and Pharmaceuticals Limited, Meridian Chem Bond Pvt. Ltd., and S.R. Drugs and Intermediates Pvt. Ltd. Leading market players are focusing on organic growth strategies such as joint ventures and setting up of new production facilities to remain competitive in the global monochloroacetic acid market.
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Persistence Market Research has published a market research report on the monochloroacetic acid market that contains global industry analysis of 2015–2019 and forecasts for 2020–2030. The report provides insightful analysis of the rosin resins market through different segments, namely, application, end use, and region. The MCAA market report also provides supply and demand trends, an import-export scenario, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the value chain.
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