Monochloroacetic acid, also known as chloroacetic acid, is an organic compound mainly used for production of carboxymethyl cellulose (CMC). CMC finds wide applications in several end-use industries such as food & beverages, oil & gas, pharmaceuticals, detergents, and paper, among others. It is known for its properties like thickening, binding, suspending, and stabilizing. Rising demand for CMC from personal care products, ready-to-eat food, and construction industry is fueling the monochloroacetic acid market growth.
The global Monochloroacetic Acid Market is estimated to be valued at US$ 941.62 Mn in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Demand for Carboxymethyl Cellulose (CMC)
The key opportunity driving the monochloroacetic acid market growth is rising demand for carboxymethyl cellulose (CMC) from various end-use industries. CMC finds a wide range of applications due to properties like thickening, stabilizing, binding, and suspending. There is an increasing demand for CMC from food & beverage industry for products like ice-cream, salad dressings, sauces, and others. Significant use of CMC is also observed in pharmaceuticals for tablet coating and in paper industry for improvement of paper strength and quality. Growth in personal care industry utilizing CMC in products like shampoos, lotions, and creams is a major factor augmenting the demand. Thus, rising demand from multiple end-use industries is expected to propel the monochloroacetic acid market over the forecast period.
Porter's Analysis
Threat of new entrants: New entrants will find it difficult to enter this market as it requires high capital investment for setting up manufacturing facilities. Also, the market is dominated by few large players having strong brand presence.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, specific end-use applications have limited alternatives.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw materials. However, fluctuations in raw material prices can impact producers.
Threat of new substitutes: Substitutes like glycolic acid and salts pose low threat as MCA has superior properties for its end-use applications in herbicides and carboxymethyl cellulose.
Competitive rivalry: The market is marked by healthy competition between leading manufacturers. Focus is on R&D, product differentiation and expansion to new geographies.
SWOT Analysis
Strengths: Wide applications in agrochemicals and pharmaceuticals industries. Growing demand for carboxymethyl cellulose from personal care and food & beverage industries.
Weaknesses: Toxic in nature, strict environmental regulations for its production. Fluctuations in raw material prices.
Opportunities: Untapped growth potential in emerging economies. New application areas being explored constantly.
Threats: Availability of substitute products. Volatility in crude oil and natural gas prices affecting key raw materials.
Key Takeaways
The Global Monochloroacetic Acid Market Size is expected to witness high growth over the forecast period of 2023 to 2030 owing to its increasing applications.
Regional Analysis: The Asia Pacific region currently dominates the market and is projected to maintain its leading position throughout the forecast period. MCA demand will be driven majorly by China, India and other Southeast Asian countries on account of rapid industrialization and growing agriculture sector.
Key players operating in the Monochloroacetic acid market are AkzoNobel N.V., CABB Group GmbH, Niacet Corporation, and Denak Co. Ltd. AkzoNobel is one of the largest producers globally with presence across major regions. The focus is on capacity expansion plans and strategic partnerships to cater to rising MCA needs of both agriculture and pharmaceutical industries. Research& development of bio-based production methods can offer new opportunities in the coming years. However, price volatility of raw materials remains a key challenge.
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The Global Monochloroacetic Acid (MCA) Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on application.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Leading Segment in this market:By Application – CellulosicsBy Geography – Asia Pacific (APAC)Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Monochloroacetic Acid (MCA) Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/9670-monochloroacetic-acid-mca-market-reportThe report also covers the complete competitive landscape of the global Monochloroacetic Acid (MCA) market with company profiles of key players such as:AkzoNobel N.V.CABB GmbHDaicel CorporationDenak Co., LtdThe Dow Chemical CompanyMCAA SENiacet CorporationXuchang Dongfang Chemical Co. Ltd.A detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Applications:CellulosicsAgrochemicalsSurfactantsThioglycolic AcidOthers (Cyanoacetic Acid, Phenoxyacetic Acid, Etc.
)By Geography:North America (NA)Europe (EU)Asia Pacific (APAC)Rest of the World (RoW)Download Free Sample Report of Global Monochloroacetic Acid (MCA) Market @ https://www.decisiondatabases.com/contact/download-sample-9670The Global Monochloroacetic Acid (MCA) Market has been exhibited in detail in the following chapters –Chapter 1 Monochloroacetic Acid (MCA) Market PrefaceChapter 2 Executive SummaryChapter 3 Monochloroacetic Acid (MCA) Industry AnalysisChapter 4 Monochloroacetic Acid (MCA) Market Value Chain AnalysisChapter 5 Monochloroacetic Acid (MCA) Market Analysis By ApplicationsChapter 6 Monochloroacetic Acid (MCA) Market Analysis By GeographyChapter 7 Competitive Landscape Of Monochloroacetic Acid (MCA) CompaniesChapter 8 Company Profiles Of Monochloroacetic Acid (MCA) IndustryPurchase the complete Global Monochloroacetic Acid (MCA) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-9670Other Reports by DecisionDatabases.com:Global Stearic Acid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Acrylic Acid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Sulfuric Acid Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
