Monochloroacetic acid (MCA) is an important organic compound that is primarily used as an intermediate in the production of carboxymethyl cellulose (CMC), thioglycolic acid, and glyphosate herbicides. Monochloroacetic acid has wide applications due to its versatile chemical properties and reactivity. It is used as a building block for the production of various agrochemicals, pharmaceutical intermediates, surfactants, and other chlorinated organic compounds. The global Monochloroacetic Acid Market is estimated to be valued at US$ 760 million in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.

Market key trends: Demand from carboxymethyl cellulose production is one of the major factors driving growth of the monochloroacetic acid market. The growing applications of CMC across various end-use industries such as food & beverages, oil & gas, personal care, pharmaceutical, and paints & coatings has been escalating consumption of MCA. Carboxymethyl cellulose finds widespread use as a viscosifying, thickening, stabilizing and binding agent in the industrial and consumer products. The increasing demand for environment-friendly and sustainable solutions are further augmenting usage of CMC over petroleum-based polymers in various applications which in turn boosts the monochloroacetic acid market.

SWOT Analysis
Strength: Monochloroacetic acid has wide applications in herbicides and insecticides production giving stable demand. It also finds use in production of carboxymethyl cellulose and thioglycolic acid.

Weakness: High manufacturing costs and stringent environmental regulations regarding its production act as barriers. Volatility in raw material prices also impacts the market.

Opportunity: Growing agrochemical industry in Asian countries and increased demand for carboxymethyl cellulose from personal care and detergent industries present opportunities.

Threats: Presence of substitutes and shift towards bio-based products pose threats. Supply chain disruptions due to COVID-19 pandemic affect the market.

Key Takeaways

The Global Monochloroacetic Acid Market Share is expected to witness high growth.

Asia Pacific dominates the monochloroacetic acid market currently due to high demand from agrochemical manufacturers. China accounts for the largest share owing to presence of numerous agrochemical producers. The growing agriculture sector in India and increasing crop protection activities are fueling the market expansion.

Key players operating in the monochloroacetic acid market are AkzoNobel, CABB, Daicel, Denak, Dow, PCC SE, and Niacet. AkzoNobel dominates the global production with major production facilities located in the Netherlands, China, and the U.S. CABB and Daicel also operate large capacities to cater to the expanding market demand.

For more insights, Read- https://www.insightprobing.com/monochloroacetic-acid-market-growth-demand-and-overview/