The Global Monochloroacetic Acid Market Driven by Growing Demand from Herbicides Industry

Monochloroacetic Acid Market

Monochloroacetic acid or MCAA is an important organic compound employed in the production of herbicides, detergents and drugs. It is a colorless crystalline solid that is soluble in water and employed as an intermediate in the production of numerous industrial chemicals. As a commodity chemical, MCAA finds wide usage in the manufacturing of carboxymethyl cellulose (CMC), thioglycolic acid, dyes and drugs. CMC acts as a stabilizer, thickener and emulsifier in food & beverages, paper, paints and personal care products. Thioglycolic acid manufactured using MCAA is utilized for permanent waving of hair. MCAA also serves as a building block for numerous agrochemicals and is a key intermediate in herbicide production. The growing demand for food owing to the rising global population has augmented the need for herbicides to boost agricultural productivity. This in turn is driving the demand for MCAA from the herbicides industry.


The global Monochloroacetic Acid Market is estimated to be valued at US$ 2.5 billion 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: One of the key trends in the monochloroacetic acid market is the shifting production from mercury cell to membrane cell technology. Mercury cell technology employed traditionally for the production of chlorine and caustic soda entails several environmental and health hazards due to mercury emissions. Several regulations restrict the usage of mercury cell plants. As a result, manufacturers are gradually replacing mercury cell units with environment-friendly membrane cell technology for chlor-alkali production. This shift to greener production methods will boost the market potential over the assessment period. Another major trendincludes capacity expansions undertaken by the key players to cope up with the rising demand for MCAA across industries.

Porter's Analysis
Threat of new entrants: High capital requirements for R&D and production make entry difficult in this market. Bargaining power of buyers: Buyers have moderate bargaining power. Monochloroacetic acid has few substitutes available. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of options. Threat of new substitutes: Limited threat as monochloroacetic acid has proven applications and substitutes require changes in production processes. Competitive rivalry: Intense competition among existing players to gain market share.

Key Takeaways

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

Regional analysis focused on Asia Pacific region holds the major share in global production as well as consumption of monochloroacetic acid.

Key players operating in the monochloroacetic acid market are AkzoNobel, CABB, Daicel, Denak, Dow, PCC, Niacet, Xuchang Dongfang Chemical, Shandong Minji Chemical, Shiv Chem, Abhishek Impex, Meridian Chem-Bond, Sri Gayatri Biotech, Hefei TNJ Chemical Industry, Jiangsu New Century Salt Chemistry, Alfa Aesar, Anugrah In-Org(P), and S.R.Drugs and Intermediates.

For more insights, Read- https://www.pressreleasebulletin.com/monochloroacetic-acid-market-size-and-share/


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