Monochloroacetic Acid Market Share, Growth & Forecast [2031]
Monochloroacetic Acid Market Share, Growth & Forecast [2031]
Segments - Monochloroacetic Acid Market by Chemical Applications (Thioglycol Acid, Surfactants, Glycine, 4,2,4- Dichloro Phenoxy Acetic Acid, Cellulose, and Others), End-users (Dyes & Detergents, Agrochemicals, Personal Care, Geological Drillings, Pharmaceuticals, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :MC-4456
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Report Description
The global monochloroacetic acid market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing demand for the production of glycine, thioglycolic acid, and carboxymethylcellulose.
Monochloroacetic acid is an organochlorine compound with the molecular formula ClCH2CO2H. It is a highly soluble in water and organic solvent with crystalline colorless material and a pungent smell. The compound belongs to the carboxyl acid group. It is manufactured by two routes namely hydrolysis of trichloroethylene and chlorination of acetic acid. The acid is widely used in the synthesis of thickening agents such as carboxymethyl starch and carboxymethyl cellulose, dyes, pesticides, drugs, and many other derivatives including pharmaceuticals agents, drilling fluids, surfactants, plastics stabilizers, and herbicides.
The COVID-19 pandemic outbreak had negatively impacted the global monochloroacetic acid market. During the pandemic, emergency lockdown imposed by government body affected the demand for the acid due to sharp decline in the agricultural practices and drillings due to movement restriction. However, the demand for the acid has increased rapidly in the pharmaceutical industry due to rising demand for pharmaceutical products, impacted by the pandemic.
Market Trends, Drivers, Restraints, and Opportunities
- Wide application of monochloroacetic acid for various products associated with personal care, pharmaceuticals, textile, and oil & gas industry is one of the key factors driving the market.
- Surging need for herbicides and insecticides in the agriculture industry in developing countries is projected to boost the market during the forecast period.
- Fluctuating prices of volatile raw materials such as acetic acid and methanol along with irregularity in supply chain act as major challenges that can restrict the market growth in the coming years.
- Rising concern about hazardous effect of the acid on environment is expected to hamper the market growth during the projected timeline.
- Increasing use of monochloroacetic acid as an alternative to cryotherapy for plantar and common warts in primary care of patients to avoid pain during the treatment is anticipated to create significant growth opportunities for the market.
Scope of the Report
The report on the global monochloroacetic acid market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Monochloroacetic Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Chemical Applications (Thioglycol Acid, Surfactants, Glycine, 4,2,4- Dichloro Phenoxy Acetic Acid, Cellulose, and Others) and End-users (Dyes & Detergents, Agrochemicals, Personal Care, Geological Drillings, Pharmaceuticals, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Merck KGaA; PCC Group; Nouryon; TerraTech; Alfa Aesar; and Thermo Fisher Scientific |
Market Segment Insights
Surfactants segment to grow at rapid pace
Based on chemical applications, the global monochloroacetic acid market is fragmented into thioglycol acid, surfactants, glycine, 4,2,4- dichloro phenoxy acetic acid, cellulose, and others. The surfactants segment is expected to grow at a rapid pace during the forecast period due to the increasing use of the products as sanitary agents across industrial and home care across the globe. However, the agrochemicals segment is projected to expand at a substantial growth rate in the coming years attributed to the high usage of agrochemicals for soil fertility and crop safety. Furthermore, agrochemicals also help in enhancement of the crop properties and maximum yield from the farm, which is a major driver of the segment.
Pharmaceuticals segment to expand at robust growth
On the basis of end-users, the market is divided into dyes & detergents, agrochemicals, personal care, geological drillings, pharmaceuticals, and others. The pharmaceuticals segment is projected to expand at a robust growth rate during the forecast period due to the growing use of monochloroacetic acid in medicines such as maleanates, ibuprofen, n-glycine, dichlophenac sodium, and vitamins. On the other hand, the agriculture segment is anticipated to expand at a substantial CAGR during the forecast period owing to the increasing need of agricultural lands for rising population. Additionally, many byproducts of monochloroacetic acid are used in the manufacturing of herbicides, which is driving the segment growth further.
Asia Pacific to constitute a key market share
In terms of geography, the global monochloroacetic acid market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to the increasing demand from end-users such as pharmaceuticals, personal care, and textile industries in the region. Moreover, the presence of agriculture based economies in the region is driving the regional growth further. However, the market of North America is anticipated to grow at a rapid pace during the forecast period due to the increasing demand for monochloroacetic acid from the pharmaceutical industry in the region.
Segments
The global monochloroacetic acid market has been segmented on the basis ofChemical Applications
- Thioglycol Acid
- Surfactants
- Glycine
- 4,2,4- Dichloro Phenoxy Acetic Acid
- Cellulose
- Others
- Dyes & Detergents
- Agrochemicals
- Personal Care
- Geological Drillings
- Pharmaceuticals
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Merck KGaA
- PCC Group
- Nouryon
- TerraTech
- Alfa Aesar
- Thermo Fisher Scientific
Competitive Landscape
Key players competing in the global monochloroacetic acid market are Merck KGaA; PCC Group; Nouryon; TerraTech; Alfa Aesar; and Thermo Fisher Scientific. Companies are focusing on investment in R&D for startup with innovative technology and means to avoid volatile raw material prices to maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquire new buyers.
For instance, in April 2016, CABB GmbH signed a memorandum of understanding (MoU) with Jinwei Huasheng Chemical Co. Ltd. and Jining Gold Power Co. Ltd to start a joint venture company for the marketing and manufacture of high-quality monochloroacetic acid. Additionally, both the companies invested USD 160 million to construct a manufacturing plant in China with manufacture capacity of 50,000 tons per annum. In April 2016, AkzoNobel, a Netherlands-based manufacturer of paints and performance coatings announced a joint venture with Atul Chemicals to set up monochloroacetic acid production plant in existing facility of Atul Chemicals, located at Gujrat, India.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Monochloroacetic Acid Market Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Monochloroacetic Acid Market Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Monochloroacetic Acid Market Market - Supply Chain
4.5. Global Monochloroacetic Acid Market Market Forecast
4.5.1. Monochloroacetic Acid Market Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Monochloroacetic Acid Market Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Monochloroacetic Acid Market Market Absolute $ Opportunity
5. Global Monochloroacetic Acid Market Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Monochloroacetic Acid Market Market Size and Volume Forecast by End Users
5.3.1. Dyes & Detergents
5.3.2. Agrochemicals
5.3.3. Personal Care
5.3.4. Geological Drillings
5.3.5. Pharmaceuticals
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Monochloroacetic Acid Market Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Monochloroacetic Acid Market Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Monochloroacetic Acid Market Demand Share Forecast, 2019-2026
7. North America Monochloroacetic Acid Market Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Monochloroacetic Acid Market Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Monochloroacetic Acid Market Market Size and Volume Forecast by End Users
7.4.1. Dyes & Detergents
7.4.2. Agrochemicals
7.4.3. Personal Care
7.4.4. Geological Drillings
7.4.5. Pharmaceuticals
7.4.6. Others
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Monochloroacetic Acid Market Demand Share Forecast, 2019-2026
8. Latin America Monochloroacetic Acid Market Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Monochloroacetic Acid Market Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Monochloroacetic Acid Market Market Size and Volume Forecast by End Users
8.4.1. Dyes & Detergents
8.4.2. Agrochemicals
8.4.3. Personal Care
8.4.4. Geological Drillings
8.4.5. Pharmaceuticals
8.4.6. Others
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Monochloroacetic Acid Market Demand Share Forecast, 2019-2026
9. Europe Monochloroacetic Acid Market Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Monochloroacetic Acid Market Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Monochloroacetic Acid Market Market Size and Volume Forecast by End Users
9.4.1. Dyes & Detergents
9.4.2. Agrochemicals
9.4.3. Personal Care
9.4.4. Geological Drillings
9.4.5. Pharmaceuticals
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Monochloroacetic Acid Market Demand Share Forecast, 2019-2026
10. Asia Pacific Monochloroacetic Acid Market Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Monochloroacetic Acid Market Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Monochloroacetic Acid Market Market Size and Volume Forecast by End Users
10.4.1. Dyes & Detergents
10.4.2. Agrochemicals
10.4.3. Personal Care
10.4.4. Geological Drillings
10.4.5. Pharmaceuticals
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Monochloroacetic Acid Market Demand Share Forecast, 2019-2026
11. Middle East & Africa Monochloroacetic Acid Market Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Monochloroacetic Acid Market Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Monochloroacetic Acid Market Market Size and Volume Forecast by End Users
11.4.1. Dyes & Detergents
11.4.2. Agrochemicals
11.4.3. Personal Care
11.4.4. Geological Drillings
11.4.5. Pharmaceuticals
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Monochloroacetic Acid Market Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Monochloroacetic Acid Market Market: Market Share Analysis
12.2. Monochloroacetic Acid Market Distributors and Customers
12.3. Monochloroacetic Acid Market Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Merck KGaA
12.4.2. PCC Group
12.4.3. Nouryon
12.4.4. TerraTech
12.4.5. Alfa Aesar
12.4.6. Thermo Fisher Scientific
Methodology
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