- The increasing demand for the production of various industrial chemicals such as glycine, surfactants and herbicides is fueling the growth of the monochloroacetic acid market
- The increasing use of carboxymethyl cellulose, a derivative of monochloroacetic acid, in food and non-food products is supporting the expansion of the market
Wilmington, Del., September 22, 2022 /PRNewswire/ — Due to its incredibly versatile nature, monochloroacetic acid has applications in various end-use industries. This water-soluble, crystalline, and colorless solid compound is used as a building block in several organic synthetic processes. The increasing demand for monochloroacetic acid for the production of various industrial products creates a significant demand in the market. According to a recent research report, the Monochloroacetic Acid market is valued at $1.2 billion until the end of the forecast period in 2031.
The monochloroacetic acid compounds are mainly used for the synthesis of CMC or carboxymethyl cellulose. Increasing demand for this water-soluble cellulose from a variety of end-use industries including oil drilling, cleaning supplies, 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
- Increasing applications of CMC: Carboxymethylcellulose or CMC is a clear and highly viscous solution synthesized by the alkali-catalyzed reaction of cellulose with monochloroacetic acid. It finds various uses in the food and beverage industry such as an emulsifier, viscosity modifier and thickener, among others. CMC is used in reduced-fat and gluten-free food products and provides a rich mouthfeel in food and beverage products. In addition, CMC is also used in other industries including oil and gas, industrial manufacturing, eye care and non-food products such as laxatives, paper products, diet pills, toothpastes, paints and gels.
- Increasing demand for food: Products in the monochloroacetic acid market are used to manufacture CMC, which has applications in the food and beverage industry. Liquid monochloroacetic acid compounds are also used in the agrochemical industry to produce active ingredients needed for the manufacture of pesticides and herbicides. The increasing demand for processed food products creates a growing need for high purity CMC. Similarly, increasing demand for higher crop yields by protecting crops from pests and infections is driving the growth of the monochloroacetic acid market.
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Monochloroacetic Acid Market – Growth Drivers
- The increasing use of monochloroacetic acid in the manufacture of agrochemicals to increase crop yield is driving the expansion of the monochloroacetic acid market
- The increasing use of CMC as a thickener in oil and gas drilling processes is driving the growth of the monochloroacetic acid market
Monochloroacetic Acid Market – Major Players
The leading players 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. ltd Market players are focusing on increasing their production capacities to meet the increasing demands of various end users. To achieve this, certain 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. Among the main drivers stimulating the growth of this regional market is the rising demand for agrochemicals from leading countries like India and China. In addition, large capacities for CMC production in these countries also favor the rise of Asia Pacific Monochloroacetic Acid Market.
The presence of a technologically strong and well-established healthcare infrastructure and the increasing use of CMC in biosensing, drug delivery and wound dressing applications are key drivers for the growth of Europe and North America regional markets. Latin America and middle East and Africa collectively less than 10% of total market share in 2021. However, increasing research and development initiatives on power generation with CMC are creating worthwhile growth opportunities in these regions.
Monochloroacetic Acid Market: Market Segmentation
Monochloroacetic Acid Market by Product
Monochloroacetic Acid Market by Application
- carboxymethyl cellulose
- thioglycolic acid
- North America
- Asia Pacific
- middle East & Africa
- Latin America
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