Monochloroacetic Acid Market Is Predicted To Grow At A Fair CAGR Of 6.6% During The Forecast Period 2022-2032
Global Monochloroacetic Acid Market Outlook (2022-2032)
The monochloroacetic acid market is predicted to grow at a fair CAGR of 6.6%. It is estimated to be worth around US$ 1.46 Billion in 2032, rising up from US$ 860.6 Million in 2021.
Most of the demand for monochloroacetic acid comes from the chemical industry, where it is used as an intermediate substance for the production of other chemicals. The global monochloroacetic acid market is expected to enlarge in the coming days with the growth in the production of these resultant chemicals.
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Key Segments
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By Product Form :
- Crystalline
- Liquid
- Flakes
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By Application :
- Carboxymethylcellulose (CMC)
- Agrochemicals
- Surfactants
- Thyoglycolic Acid (TGA)
- Others
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By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Competitive Landscape
As per the new market research report on monochloroacetic acid market, there are many small scale and medium sized business partners contributing a significant portion of the entire market revenue. Most of the monochloroacetic acid using industries benefit from the wide number of suppliers present in the market since switching costs are minimal.
The key players in the chloroacetic acid market include Akzonobel N.V., CABB, Daicel Corporation, Shandong Minji Chemical, PCC, Architorganosys, Denak Co. Ltd., Kaifeng Dongda Chemical Company, Meridian Chem-Bond, and Niacet.
What are the Recent Developments in the Field of Monochloroacetic Acid Market?
- AkzoNobel partnered with Atul Chemical to establish an MCA production plant in India with operations starting by March 2019. This joint venture is expected to combine the cutting-edge and eco-friendly hydrogenation technology to produce monochloroacetic acid from the chlorine and hydrogen provided by the Atul Chemicals.
- CABB collaborated with Jining Gold Power of China to produce monochloroacetic acid for supplying in China. It has announced to use the German hydrogenation technology to produce 25 kilotons every year in the liquid form. It is also expected that this local production unit may uplift the quality benchmarks for safety and sustainability.
