About Monochloroacetic Acid
Monochloroacetic Acid industrially known as Chloroacetic acid is building block in organic synthesis and is used for the production of various compounds, drugs, dyes, and agrochemicals. Chloroacetic acid is used to make or produce industrial chemicals and also as a thickening agent in a carboxymethylcellulose (CMC) and carboxymethyl starch. These acids are synthetic organic intermediate which is used as an acidic replica such as salt, hydrazide, and amide. Owing to the increasing demand for Monochloroacetic acid for the production of glycine is driving the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.1% |
Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the notching machines market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Monochloroacetic Acid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AkzoNobel (Netherlands), CABB (Germany), Daicel Corporation (Japan), PCC SE (Germany), Niacet Corporation (United States), Shandong Minji Chemical (China), Denak Co. (Japan), Kaifeng Dongda Chemical Company (China), Meridian Chem-Bond (India) and Archit Organosys (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Atul Ltd (India).
Segmentation Overview
AMA Research has segmented the market of Global Monochloroacetic Acid market by Type (Crystalline, Liquid and Flakes), Application (CMC, Agrochemicals, Surfactants, TGA and Other) and Region.
On the basis of geography, the market of Monochloroacetic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Pharmaceutical Industry will boost the Monochloroacetic Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increasing Demand for Carboxymethylcellulose (CMC), Thioglycolic Acid, and Glycine, Growing Demand for Agrochemicals and Increasing Awareness Regarding Water & Wastewater Treatment
Challenges:
High Operation and Maintenance Costs that Arise due to the Corrosive nature of MCAA and Issues Related to Harmful Sid Effects of MCA Exposure
Restraints:
Stringent Government Regulation on Monochloroacetic Acid
Opportunities:
Growing Disposable Income, and Rapid Urbanization in Developing Countries and High Demand from the Construction Industry of Emerging Economies
Market Leaders and their expansionary development strategies
On February 14, 2024, Mitsubishi Chemical Group announced that its bioengineered plastic, DURABIO™, is being used in the handle of Sunstar Group’s Ora2 Premium Smooth Fit Toothbrush, the first toothbrush with biomass plastic mark certification in Japan, launching nationwide on February 14, 2024. This marks the first application of DURABIO™ in a toothbrush.
On April 17, 2024, Extreme Coatings is expanding its wear-resistant coating solutions for the plastics and rubber industry, emphasizing increased efficiency and uptime for processors. Highlighting recent advancements at NPE 2024, the company offers CarbideX PROLINE™ with advanced thermal spray technology for hard, dense coatings that enhance machinery life and performance, significantly reducing downtime.
According to the Harmonised classification and labeling (ATP01) approved by the European Union, chloroacetic acid is toxic if swallowed or exposed to skin. Also, it causes severe skin burns and eye damage if inhaled. Furthermore, the classification provided by companies to European Chemicals Agency (ECHA) in Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) registrations helped to identify that chloroacetic acid is toxic to aquatic life with long lasting effects and may be corrosive to metals.
Key Target Audience
MCA Manufacturers, MCA Traders, Distributors, and Suppliers, Raw Material Suppliers, Governments and Research Organizations, Associations and Industrial Bodies, R&D Institutions and Environment Support Agencies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.