Monochloroacetic Acid (MCAA) Market to reach US$ 756.6 Mn by 2024

Posted by Vikas Bahurupi on November 26th, 2018

Monochloroacetic Acid is also called Chloroacetic Acid having a molecular formula-CICH2CO2. MCCA plays a key role in manufacturing of several well-known products that are essential in daily living. Commercially, MCCA is also accessible in water solution. Basically, MCCA is a monochloroacetic acids, an instant substance preserving experience of several types of intermediary random reactions. Some of the vital markets for MCCA and its derivatives are surfactants, drilling fluids, food processing, textiles, herbicides, construction, pharmaceuticals, and plastic stabilizers. The MCCA marketplace is expected to be influenced by the Chinese marketplace owing to its uses as an intermediate in textile auxiliaries, pharmaceuticals, as well as esters and carboxyl methyl cellulose manufactures. Global sales of monochloroacetic acid was valued at US$ 485.4 Mn in 2015 and is projected to increase 1.5X over the forecast period (2016 – 2024) to be valued at US$ 756.6 Mn by the end of 2024.

Market Dynamics

The global market for MCCA is primarily driven by growing market demand for the production of glycine, carboxymethylcellulose, and thioglycolic acid. For the production of cellulose gel, commonly known as CMC, considerable amount of MCCA is consumed. MCCA uses imparts certain properties such as emulsion stabilization and viscosity boosting and apart from this MCCA uses in production of CMC proffers texture and flow alteration in the product. These kind of attributes compel CMC uses for several application viz. alcoholic beverages, ice-cream, powdered drinks, and non-alcoholic beverages in the food & beverages industry.

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Also, CMC is usually preferred over natural and synthetic glues that will drive its market demand and in turn is projected to escalate the MCCA consumption for the production of CMC. As a result, these factors are anticipated to fuel the revenue growth of the global market for MCCA in the next eight years.

For the production of several types of insecticides and herbicides, MCCA is the basic raw material such as widely used insecticides triclopyr and chlorpyrifos are derivative of MCAA. However, the MCAA route for production of symtet generating considerable amount of hazardous waste. Also, production facility which are functioned through the MCAA route face certain obstacles including high maintenance and operational prices rise owing to corrosiveness of MCAA. Regionally, China market plays an important role in the MCCA development globally. Certain factors that are propelling growth in the China market include:

Flourishing End-use Industries

MCCA combined with its alkali salts is widely used for manufacturing several types of chemical products. For example, MCCA is transformed to sodium chloroacetate and reacts with alkali cellulose for manufacturing CMC and used in various end-use industries viz. textiles, coatings, cosmetics, detergents, food, drilling muds, and pharmaceuticals. And all these kind of these industries flouring in China and the demand for MCCA will remain growing in China with the increasing expansion of these industries.

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Agrochemicals Industry

For phenoxy herbicides production, MCCA is used. In the global market for MCCA, agrochemicals sector is anticipated to be the second largest segment and in the coming years, it will expand exponentially. In terms of fertilizers, China has emerged as the largest producer across the globe. Additionally, in China region, high demand for fertilizers and pesticides is predicted to grow significantly in the global market for MCCA. In pesticides market of APAC region, China is expected to remain dominant in the global market for MCCA in the next eight years.

Cellulosics Industry

The global market for MCCA is mainly driven by the growing demand of carboxymethyl cellulose in activities related with oil drilling. Also, the cellulosics segment will remain dominant and will exhibit significant growth in the next eight years. Additionally, couple of years back, Dow Chemicals was planning to enlarge their production capacity of cellulosic in the APAC.

Moreover, leading key players in market are aiming towards a strategy that provides an organic market growth through tactical joint ventures. Also, they are setting up newer facilities for production in order to stay competitive in the MCCA market globally. Some of the major companies operating in the global market for MCCA include CABB Group, Niacet Corporation, Shandong Minji Chemical, 

IOL Chemicals & Pharmaceuticals, S.R. Drugs &Intermediates, AkzoNobel N.V., Nufarm Limited, Jubilant Life Sciences, Archit Organosys Limited and Meridian Chem Bond, among others.

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