BUSINESS

Rise in Demand for Agrochemicals Expected to Drive Global Monochloroacetic Acid (MCAA) Market: Ken Research

Monochloroacetic Acid (MCAA) industrially known as Chloroacetic acid. It is a building block in organic synthesis, which is used for the production of various compounds, dyes, drugs, and agrochemicals. Chloroacetic acid is used to make & produce the industrial chemicals and also used as a thickening agent in carboxymethyl starch and carboxymethylcellulose (CMC). These acids are synthetic organic intermediate, used as an acidic replica for instance hydrazide, salt, and amide. Due to the growing demand for MCAA for the production of glycine is driving the market.

According to study ÔÇťGlobal and United States Monochloroacetic Acid (MCAA) Market: By form (Crystalline, Liquid and Flakes); By application (Carboxymethylcellulose (CMC), Agrochemicals, Surfactants, Thioglycolic Acid (TGA) and others) and Region ÔÇôAnalysis of Market Size, Share and Trends for 2014 ÔÇô 2019 and Forecasts to 2030ÔÇŁ some of the key companies operating in the Global and United States Monochloroacetic Acid (MCAA) Market are Daicel Corporation, Denak Co. Ltd, AkzoNobel N.V., CABB Group GmbH, Dow, Niacet, PCC SE, Kaifeng Dongda Chemical Company, S.R.Drugs and Intermediates Pvt. Ltd., Xuchang Dongfang Chemical Co. Ltd., Shiv Chem Industries, Abhishek Impex, Shandong Minji Chemical Co. Ltd., Meridian Chem-Bond, Jubilant Life Sciences Ltd., Merck KGaA, Puyang Tiancheng Chemical Co., Ltd., Anugrah In-Org(P) Limited., Alfa Aesar, and Swati Chemical Industries.

The market is driven by rise in demand for agrochemicals, followed by change in retail landscape in the developing countries, increase in awareness regarding water & wastewater treatment, changes in consumption patterns and growth in demand for Carboxymethylcellulose (CMC), thioglycolic acid, and glycine. However, issues related to harmful side effects of MCAA Exposure, high operation & maintenance costs and stringent government regulation on Monochloroacetic Acid may impact the market. Moreover, rise in demand from the construction industry of emerging economies and growth in disposable income & rapid urbanization are key opportunities for market.

Based on product form, market is segmented as liquid, crystalline and flakes. Liquid product form segment dominates the market due to its easy miscibility as an intermediate & efficient operation. Based on process, market is segmented as hydrolysis and chlorination. Based on application, market is segmented as glycine, thioglycol acid, surfactants, cellulose, 4, 2, 4- Dichloro Phenoxy Acetic Acid and other chemical applications. In addition, based on end-use industry, market is segmented as personal care & pharmaceuticals, geological drillings, agrochemicals, dyes & detergents and other end-user industries.

Based on geography, the U.S. is the major market in the terms of value. The growth of this market is primarily owing to growth in population coupled with rise in demand for MCAA in the formulation of Carboxymethylcellulose, agrochemicals and surfactants used in industries such as agriculture and construction. Additionally, the Asian-Pacific region is expected to witness higher growth rate due to rise in demand for MCAA in China as a result of rise in demand from pharmaceutical industry over the forecast period. It is predicted that the global MCAA market will be reached at rapid pace on account of growth in demand for personal care applications during the forecast period.

For More Information, refer to below link:-

Global and United States Monochloroacetic Acid (MCAA) Market

Related Report:-

Global Monochloroacetic Acid (MCAA) Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

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