Monochloroacetic Acid Market Growth Analysis | 2023-2028

Market Insights

The monochloroacetic acid market was estimated at USD 887.09 million in 2022 and is likely to grow at a CAGR of 4.13% during 2023-2028 to reach USD 1135.03 million in 2028.

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What is monochloroacetic acid?

Monochloroacetic acid is a crystalline colorless material possessing a pungent smell. Being highly soluble in organic solvents and water, the compound belongs to the carboxyl acid group. Monochloroacetic acid is manufactured by two routes: hydrolysis of trichloroethylene and chlorination of acetic acid.

Key Players

Some of the key players in the market are-

• AkzoNobel N.V.
• Alfa Aesar
• CABB GmbH
• Daicel Corporation
• Denak Co., Ltd.
• Niacet Corporation
• PCC SE
• Shiv Chem Industries
• The Dow Chemical Company
• Xuchang Dongfang Chemical Co. Ltd.

Market Dynamics

The surge in demand for carboxymethyl cellulose in oil drilling activities, growing monochloroacetic acid demand in China and India, and increasing agrochemicals demand in the U.S. are some of the key factors expected to accelerate the market growth over the assessment period.

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Segments Analysis

By Process Type

The market is segmented into chlorination and hydrolysis. The chlorination process is estimated to be the dominant segment of the market during the assessment period on account of its utilization by the leading players of the market for product manufacturing and for other purposes such as killing particular bacteria and other microbes.

By Application Type

The market is segmented as cellulosic, agrochemicals, surfactants, thioglycolic acid, and others. The surfactant application type is estimated to hold the largest share of the market during the assessment period on account of its extensive utilization as foaming agents, dispersants, emulsifiers, and detergents. On the other hand, agrochemicals are estimated to witness significant growth in the market over the assessment period. The segment’s growth is supported by the high usage of agrochemicals in agriculture-based economies, such as India, Brazil, and China, where agrochemicals are used for crop safety and soil fertility.

Regional Insights

Asia-Pacific is estimated to be the leading region in the market with China and India being the agro-based economies, fueling the regional market growth during the assessment period. Factors such as growing textile industries, and increasing personal care and pharmaceutical industries are expected to accelerate the market growth in the region. North America is also expected to depict significant growth in the market over the forecast period on account of the growing pharmaceutical demand in the region as a result of increasing number of diseases and epidemics, creating demand for newer and improved medicines and treatments.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The monochloroacetic acid market is segmented into the following categories.

By Process Type

• Chlorination
• Hydrolysis

By Product Type

• Dry Powder
• Liquid
• Pellets

By Application Type

• Cellulosic
• Agrochemicals
• Surfactants
• Thioglycolic Acid
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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