According to the latest market research report published by Transparency Market Research, the global monochloroacetic acid (MCA) market is expected to display positive growth at a CAGR of 3.6% during the forecast period between 2014 and 2020. The report, titled “Monochloroacetic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, points out that the widespread usage of monochloroacetic acid in various industries will increase the valuation of the overall market. In 2013, the global monochloroacetic acid market was worth US$817.1 million with a total volume of 677.0 kilo tons and by 2020, the report estimates that the market will be valued at US$1,046.7 million. Monochloroacetic acid, also known as chloroacetic acid, is a carboxylic acid used to manufacture useful products such as dyes, drugs, drilling fluids, and pesticides, among others. China has emerged as the world’s biggest producer of fertilizers. The report cites that the mounting demand for monochloroacetic acid from China is expected to help the growth of the global monochloroacetic acid market.
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Monochloroacetic acid is used on a large scale in the production of carboxymethyl cellulose. The extensive use of carboxymethyl cellulose in oil drilling is forecast to drive the global monochloroacetic acid market. The rising demand for agrochemicals such as glyphosate is also expected to augment the monochloroacetic acid market. However, the manufacturers of monochloroacetic acid are constantly challenged by the volatility of the prices of raw materials such as methanol and acetic acid. This will curtail the growth of the market. Chloroacetic acid is used widely in various activities in mining. The rising taconite and iron ore mining activities will create new opportunities for the global monochloroacetic acid market.
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Depending upon the various applications of monochloroacetic acid, the global monochloroacetic acid has been segmented into agrochemicals, surfactants, thioglycolic acid, cellulosics, and others. The report mentions that in 2013, cellulosics accounted for more than 32% of the overall market and thus emerged as the leading application segment. The agrochemicals segment was the second largest application segment of the market. Both segments are expected to grow exponentially during the forecast horizon. The application of MCA in the production of thiglycolic acid and surfactants is also estimated to grow substantially due to the latter’s roles in the manufacture of intermediary compounds such as imidazolines and betaines, which are further used to make various products in the personal care industry.
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The report has categorized the global monochloroacetic acid market into four key regions: Europe, Asia Pacific, North America, and Rest of the World. In 2013, the market was driven primarily by demand from Asia Pacific due to the rising industrial landscape for personal care, agrochemicals, and manufacturing. Europe, North America, and Rest of the World jointly held 35% of the global monochloroacetic acid market. The report mentions that the key players of the global monochloroacetic acid market include Niacet Corporation, CABB GmbH, AkzoNobel N.V, Dow Chemical Company, MCAA SE, Daicel Corporation, and Denak Co. Ltd, among others.