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Oct 6, 2020 10:00 AM ET

Monochloroacetic Acid Market is set for a Rapid Growth and is expected to Reach USD 1029.7 Million by 2026

iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Global Monochloroacetic Acid Market Report by Product Form (Solid Form and Molten Form), by Application (Production of Chemical Compounds, Drugs, Herbicides & Insecticides, Others (Indigo Dyes, Amphoteric Surfactants) and by End-Use Industry (Pharmaceutical Industry, Chemical Industry, Food & Beverages Industry, Personal Care Industry and Others (Oil & Gas Industry)): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2026 .”According to the report, the Monochloroacetic Acid Market accounted for USD 781.9 Million in 2018 and is expected to reach USD 1029.7 Million by 2026, growing at a CAGR of around 4.5% between 2019 and 2026.

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The global monochloroacetic acid market is anticipated to observe noticeable growth over the years. Monochloroacetic acid which is also known as chloroacetic acid is a colorless crystalline material produced by chlorinating the acetic acid in the presence of a catalyst. It is extremely soluble in water and in most the organic solvents, except carbon tetrachloride. Owing to this property, monochloroacetic acid is widely utilized in pharmaceutical, personal care, textile and food, and beverage industries. The increasing usage of monochloroacetic acid in the agrochemical industry for the production of pesticides is likely to propel the market growth across the globe. In addition, the rise in demand for carboxymethyl cellulose in oil and gas drilling activities in the oil and gas industry, owing to the technological advancements is projected to drive the monochloroacetic acid market within the forecast period.

Global Monochloroacetic Acid Market

The global monochloroacetic acid market has been segmented on the basis of product, applications and end-use. In terms of the product form, the monochloroacetic acid has been divided into solid form and molten form. In solid, monochloroacetic acid is in powder or flakes form whereas in the molten form it is kept at temperature more than 80 degrees Celsius. Based on the application, the monochloroacetic acid is used for the production of chemical compounds, drugs, herbicides & insecticides, indigo dyes, and amphoteric surfactants. The production of the chemical compounds segment is likely to have a maximum market share within the forecast period. This is due to the major usage of the monochloroacetic acid for the production of chemical compounds. The amphoteric surfactants segment is projected to grow at a noticeable rate within the forecast period. The amphoteric surfactants such as imidazolines and betaines are produced with the help of monochloroacetic acid which then further used as metal cleaning agents in the industry which in turn is bolstering the segment. End-use industry-wise, the monochloroacetic acid is divided into pharmaceutical, oil & gas, chemicals, food & beverages, and personal care industries. In food and beverages, carboxymethylcellulose is utilized for making non-alcoholic and alcoholic drinks, powered drinks and ice-creams. The chemical industry segment is likely to have higher market demand with the forecast timeframe. This is due to the wide usage of the product in the chemicals industry. Moreover, the Pharmaceutical industry segment is anticipated to grow at a faster pace within the forecast period. Monochloroacetic acid is used in the production of herbicides, carboxymethyl cellulose, and thioglycolic acid, which then are used in the manufacture of pharmaceuticals, and organic chemicals which are expected to drive the segment.

The Key players in the global monochloroacetic acid market are CABB GmbH, Shandong Minji Chemical Co., Ltd., Niacet Corporation, PCC SE, Denak Co. Ltd., AkzoNobel N.V., and Jubilant Life Sciences Limited.

This report segments the global monochloroacetic acid market as follows:

Global Monochloroacetic Acid Market: Product Form Segment Analysis

Global Monochloroacetic Acid Market: Application Analysis

Global Monochloroacetic Acid Market: End-Use Industry Analysis

Global Monochloroacetic Acid Market: Regional Segment Analysis

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Keywords:    Monochloroacetic Acid Market

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