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Monochloroacetic Acid (Mcaa) Market size is forecast to reach $1.02 billion by 2025, after growing at a CAGR of 3.8% during 2020-2025, owning to increasing demand to produce carboxymethyl cellulose, thioglycolic acid, glycine and others. A large amount of monochloroacetic acid is used for the production of CMC, also called as cellulose gel. The use of monochloroacetic acid increases viscosity and stabilizes emulsion. In addition to these characteristics, the use of MCAA in CMC production provides alteration of flow and texture of the product. These attributes promote the use of CMC in the food and beverages industry for applications such as powdered drinks, alcoholic and non-alcoholic beverages, and ice-cream. CMC is also commonly preferred over synthetic and natural glues, which is expected to drive its demand, which in turn is expected to increase MCAA consumption in CMC production. These factors are expected to drive the global monochloroacetic acid market growth.
Application – Segment Analysis
CMC held the largest share in the monochloroacetic acid market in 2019, owing to its wide usage in various end-use industries such as oil & gas, construction, textile, paints & coatings, food & beverage, and several others. In addition, the surfactants application is expected to grow at a faster rate during the forecast period, owning to its increasing use in detergents, wetting agents, emulsifiers, foaming agents, and dispersants, which are used in several personal care products. The rising disposable income and a better standard of living of consumers in emerging economies is driving the growth of the personal care industry, which, in turn, drives the demand for surfactants. Monochloroacetic acid (Mcaa) is easily soluble in water, ethanol, methanol, acetone, benzene, chloroform, dimethylsulfoxide, and dimethylformamide. Thus, extensively used as a chemical intermediate for the production of numerous industrially and commercially important chemicals.
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End Use Industry – Segment Analysis
The personal care industry held the largest share in the monochloroacetic acid market in 2019 and is growing at a CAGR of 4.2%, owning to wide usage of MCAA in manufacturing surfactants particularly the mild betaine amphoteric surfactants, and thioglycolic acid and its derivatives, which are extensively used in the production of hair care products, such as shampoos, conditioners, and hair masks. In addition, increasing disposable income, increased awareness of beauty products, changes in consumption habits, the effect of globalization on lifestyles, and changing retail landscape in developing countries, such as India, Thailand, and Vietnam, are likely to fuel demand for personal care products in the coming years. This, in turn, is expected to increase the demand for MCAA from the personal care sector of the region.
Geography – Segment Analysis
Asia Pacific held the largest share in the monochloroacetic acid market in 2019 up to 29%, owning to the growth in population, increasing demand for MCAA in the formulation of CMC, agrochemicals, and surfactants, which are used in the industries such as building & construction, and agriculture. The market growth in this region is also attributed to higher growth prospects in the personal care applications. According to the World Bank, in 2015 East Asia and Pacific regions witnessed approximately two-fifths of the personal care product consumption, which was more than twice the combined contribution by other developing regions. Thus, owning to these factors the monochloroacetic acid demand is high in this region.
Drivers – Monochloroacetic Acid (Mcaa) Market
Growing Demand for Agrochemicals
Rising technological advancement in the agricultural industry, limited availability of arable land, rising environmental concerns, and advances in plant breeding and management expertise all over the globe, leading to increased use of agrochemicals. According to a finding of Proceedings of the National Academy of Sciences (PNAS) of the United States of America, pests and pathogens cost nearly $40 billion to the plants and forest crop production in the U.S. every year. This statistic is reflective of the need for agricultural chemicals such as insecticides, herbicides, fungicides, and pesticides on a large scale. As monochloroacetic acid is used in production of various agrochemicals such as insecticides, pesticides, herbicides, and fungicides, the growth in demand of for these is thus driving monochloroacetic acid.
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Challenges – Monochloroacetic Acid (Mcaa) Market
The symtet production by the MCAA
Monochloroacetic acid is a basic raw material used for the production of a variety of herbicides and insecticides. Chlorpyrifos and triclopyr are widely used insecticides which are also derived from MCAA. However, the MCAA route to produce symtet generates significant amount of hazardous waste. In addition, manufacturing facilities that are operated by the MCAA route face challenges such as high operation and maintenance costs that arise due to the corrosive nature of MCAA. Therefore, the symtet production by the MCAA route is a major challenge for producers operating in the global market for monochloroacetic acid.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Monochloroacetic Acid (Mcaa) Market. In 2019, the market of Monochloroacetic Acid (Mcaa) Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Monochloroacetic Acid (Mcaa) market are AkzoNobel N.V., CABB GmbH, Daicel Corporation, Denak Co., Ltd, The Dow Chemical Company, PCC SE, Niacet Corporation, Xuchang Dongfang Chemical Co. Ltd., Shandong Minji Chemical Co., Ltd., Shiv Chem Industries, Abhishek Impex, Merck KGaA, Jubilant Life Sciences Ltd., Alfa Aesar, Anugrah In-Org(P) Limited., among others.
Increasing hygiene and cleanliness concerns have led to increased demand for personal care products, detergents, and soap. This is likely to raise MCA demand due to its necessity in the manufacture of such personal care products.
Based on product form the crystalline segment held the largest share in 2019, owning to the low cost and easy production process of a crystalline form. The demand for liquid form is increasing globally, owing to its easy miscibility as an intermediate and efficient operation.
However, operations in various industries such as chemical and oil & gas is being significantly affected due to the COVID-19 epidemic, as most of countries have issued “stay at home guidance” i.e., lockdown. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. Therefore, this factor is limiting monochloroacetic acid (Mcaa) market growth.
Related Reports :
A. Peracetic Acid Market
B. Acetic Acid Market
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