Global Monochloroacetic Acid Market to Hit $1,050.0 Mn in 2020: Growth Analysis
Zion Market Research has published a new report titled “Monochloroacetic Acid Market for Cellulosics, Agrochemicals, Thioglycolic Acid, Surfactants and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global demand for monochloroacetic acid was valued at USD 850.0 million in 2014 and is expected to reach USD 1,050.0 million in 2020, growing at a CAGR of slightly above 3.0% between 2015 and 2020. In terms of volume, the global monochloroacetic acid market stood at around 700.0 kilo tons in 2014.
Monochloroacetic acid (MCA) is mainly used in chemical industries in the manufacture of carboxymethyl cellulose (CMC). CMC is used in a broad range of applications, such as detergents, herbicides, food, textiles, leather & paper industries, coatings, drilling fluids, and cosmetics. Hence, the demand for CMC is expected to rise exponentially due to strong growth of end user industries. Moreover, rising population and increasing need for agricultural products is expected to be beneficial for the growth of MCA. In the agricultural sector, increasing demand for agrochemicals such as glyphosate is expected to boost the demand for monochloroacetic acid. However, high prices of raw materials are expected to be major restraints for this market.
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Monochloroacetic acid (MCA) is broadly used in chemical industries in the manufacture of carboxymethyl cellulose (CMC). Hence, the demand for CMC is expected to rise exponentially due to an increase in industrial applications. Moreover, rising population and increasing demand for agricultural products is expected to trigger growth of monochloroacetic acid. Increasing demand from glyphosate is also likely to boost the demand for monochloroacetic acid during the years to come.
Cellulosics, agrochemicals, thioglycolic acid, surfactants and others are the key application segments of monochloroacetic acid market. Cellulosics was the largest application market for monochloroacetic acid market. Cellulosics segment accounted for over 30.0% share of total market, in 2014. Agrochemicals application segment is expected to be the second largest segment in this market. Thioglycolic acid, surfactants and others application are also expected to dominate the global monochloroacetic acid market.
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Geographically, Asia Pacific dominated the global monochloroacetic acid market, in 2014. Increasing demand from personal care and agrochemicals industry is major driving factor for monochloroacetic acid in Asia Pacific. Asia Pacific followed by North America, Europe, Middle East & Africa and Latin America.
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Some of the major industry participants in monochloroacetic acid market include Denak Co. Ltd., CABB GmbH, Niacet Corporation, Daicel Corporation, AkzoNobel N.V., Dow CHEMICAL Company and Denak Co. Ltd.
This report segments the global monochloroacetic acid market as follows:
Global Monochloroacetic Acid Market: Application Segment Analysis
- Thioglycolic Acid
Global Monochloroacetic Acid Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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