- The growing demand for the production of various industrial chemicals, such as glycine, surfactants and herbicides, stimulates the growth of the monochloroacetic acid market
- The growing use of carboxymethylcellulose, a derivative of monochloroacetic acid, in food and non-food products, favors the expansion of the market
WILMINGTON, Del., September 22, 2022 / PRNewswire / – Due to its incredibly versatile nature, monochloroacetic acid finds applications in various end-use areas. This water-soluble, crystalline and colorless solid compound is used as a building block of several organic synthesis procedures. The growing demand for monochloroacetic acid for the production of various industrial products is generating significant demand in the market. According to a latest research report, the market for monochloroacetic acid is estimated to exceed the value of 1.2 billion dollars by the end of the forecast period in 2031.
Monochloroacetic acid compounds are mainly used to synthesize CMC or carboxymethylcellulose. The growing demand for this water-soluble cellulose from a wide range of end-use industries, including oil drilling, cleaning and food and non-food products, is driving the growth of the monochloroacetic acid market.
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Monochloroacetic Acid Market: Key Findings of the Report
- Growing applications of CMC: Carboxymethylcellulose or CMC is a clear and highly viscous solution, synthesized through the alkali-catalyzed reaction of cellulose with monochloroacetic acid. It finds various applications in the food and beverage industry, as an emulsifier, viscosity modifier and thickener, among others. Used in reduced-fat and gluten-free food products, CMC offers a rich mouthfeel in food and beverage products. Additionally, CMC is also used in other industries, including oil and gas, industrial manufacturing, ophthalmology, and non-food products, such as laxatives, paper products, diet pills, toothpastes, paints and gels.
- Growing demand for food: Products in the monochloroacetic acid market are used to produce CMC, which finds applications in the food and beverage industry. Liquid compounds of monochloroacetic acid are also used in the agrochemical industry for the production of active substances necessary for the production of pesticides and herbicides. The growing demand for processed food is generating a growing need for high purity CMCs. Likewise, the growing demand for increasing yields while protecting plants from pests and infections is also driving the growth of the monochloroacetic acid market.
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Monochloroacetic Acid Market: Growth Factors
- The increasing use of monochloroacetic acid in the production of agricultural chemicals used to increase crop yield increases the expansion of the monochloroacetic acid market
- The growing use of CMC as a thickener in oil and gas drilling processes drives the growth of the monochloroacetic acid market
Monochloroacetic acid market: key players
The main participants operating in the monochloroacetic acid market are CABB Group GmbH, Denak Co. Ltd., Jubilant Life Sciences Ltd., Archit Organosys Limited, IOL Chemicals & Pharmaceuticals Limited, AkzoNovel NV, Niacet Corporation, Shandong Minji Chemical Co. Ltd ., PCC SE, Meghmani Organics Ltd. and Meridian Chem Bond Pvt. Srl Market players focus on increasing their production capacities in an attempt to meet the growing demands of various end users. To achieve this, some market players are also entering into joint ventures with chemical industry players.
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Monochloroacetic acid market: regional growth dynamics
2021, Asia Pacific accounted for 60% of the total volume share of the monochloroacetic acid market. The key factors driving the growth of this regional market include the growing demand for agricultural chemicals from leading countries such as India And China. Furthermore, the large production capacities of CMC in these countries are also driving the increase of Asia Pacific market for monochloroacetic acid.
The presence of a technologically strong and consolidated healthcare infrastructure and the growing use of CMC in bio-sensing, drug delivery and dressing applications are key factors supporting the growth of Europe And North America regional markets. Latin America And Middle East And Africa together, they accounted for less than 10% of the total market share in 2021. However, growing R&D initiatives for power generation using CMC are creating useful growth opportunities in these regions.
Monochloroacetic acid market: market segmentation
Market of monochloroacetic acid, by product
Monochloroacetic acid market, by application
- thioglycolic acid
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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