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The monochloroacetic acid market share is expected to increase to USD 165.63 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.5%.
The report extensively covers monochloroacetic acid market segmentation by the following:
The monochloroacetic acid market report offers information on several market vendors, including Abhishek Impex, Anugrah In Org Pvt. Ltd., Archit Organosys Ltd., Atul Ltd., CABB Group GmbH, Daicel Corp., Denak Co. Ltd., Henan HDF Chemical Co. Ltd., IOL Chemicals and Pharmaceuticals Ltd., ITALMAR THAILAND Co. Ltd., Jiangxi Biochem Co. Ltd., Jubilant Pharmova Ltd., Kerry Group Plc, Mahalaxmi Industries, Merck KGaA, Meridian Chem Bond Pvt. Ltd., Nouryon Chemicals Holding BV, PCC SE, S.R.Drugs and Intermediates Pvt. Ltd., Shiv Chem Industries, TerraTech Chemicals I Pvt. Ltd., and Thermo Fisher Scientific Inc. among others.
This monochloroacetic acid market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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The increasing use of MCAA derivatives in end-user industries is notably driving the monochloroacetic acid market growth, although factors such as volatile prices of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the monochloroacetic acid industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Monochloroacetic Acid Market Driver
The increasing use of MCAA derivatives in end-user industries is one of the key drivers supporting the monochloroacetic acid market growth. The main application of MCAA is in the production of carboxymethyl cellulose (CMC), which is used as a finishing agent in the textile, adhesives; detergents, and leather and paper industries.CMC is used to manufacture foam-resistant non-staining films that have good adhesiveness and are stretchable. It secures the texture of the yarn. With the busy lifestyle, an increasing number of people are moving toward processed foods. An increasing rate of innovations in the preservatives and packaging segments is one of the major drivers for the food processing and packaging industry. With the increasing health concerns and sedentary lifestyles, the demand for nutrition supplements is also increasing. CMC is used in dietary supplements such as sweetener tablets. Thus, the increase in demand for food packaging and the health and nutrition industries is likely to boost the global MCAA market during the forecast period.
Key Monochloroacetic Acid Market Trend
Capacity expansion in APAC is one of the key monochloroacetic acid market trends fueling the market growth. The global MCAA capacity has doubled, in terms of production, in the past five years, with China and India as leading manufacturing countries. In 2016, AkzoNobel and Atul India agreed on a joint venture to produce MCAA in India. Also, in April 2021, Nouryon reaffirmed its commitment to India by announcing a joint venture with Atul to commence production at Anaven, the country largest MCAA factory in Gujarat. Due to low production costs and availability of raw materials from other sources, APAC production is expected to hit a new high. In addition, the developmental rates of many end-user industries such as textile, cosmetics, pharmaceuticals, chemicals, food and beverages, and others and the enhanced MCAA derivative applications in these end-user industries are the attraction for international players to expand their presence in APAC. Such factors are boosting market growth.
Key Monochloroacetic Acid Market Challenge
Volatile prices of raw materials is one of the factors hindering the monochloroacetic acid market growth. For instance, from 2015 onward, the prices of ethanol saw a drastic decline, the fluctuating price of ethanol is a big challenge for the manufacturers of MCAA, who find it difficult to source the raw materials at the right price to keep the prices of the final products steady. The fluctuating global prices of crude oil and natural gas have an impact on the prices of their end products, such as acetaldehyde and methanol, which are the raw materials for the production of MCAA precursors. The volatility in prices results in an uncertain return on investments, because of which the companies are forced to delay or shelve their capacity expansion. This, in turn, will affect the demand-supply chain, resulting in the customers switching to MCAA alternatives such as chlorine, ozone, and sodium-based products, which will restrict the market growth during the forecast period.
This monochloroacetic acid market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the monochloroacetic acid market encompasses successful business strategies deployed by the key vendors. The monochloroacetic acid market is fragmented and the vendors are deploying growth strategies such as cost of production, product innovation, price, operational cost, RD cost, and product quality to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The monochloroacetic acid market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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47% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for monochloroacetic acid market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for food and beverages will facilitate the monochloroacetic acid market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, most industrial operations were negatively affected by the COVID-19 pandemic. However, the recovery of the MCAA market started since H2 2021 in the region is driven by the reopening of end-user industries and the strategies adopted for the recovery from the COVID-19 crisis such as vaccination drives. Such expansions by end-users are one of the factors that will influence the demand for MCAA in APAC during the forecast period.
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The monochloroacetic acid market share growth by the cellulosic segment will be significant during the forecast period. Along with cellulosic another segment contributing to the market growth is agrochemicals. Agriculture faces multiple challenges like the decline in arable land, maintenance of soil fertility, increasing requirement of food for the growing population, and insufficient energy sources like natural gas and fossil fuels. Due to these challenges, public and private organizations are making an effort to find a permanent solution to increase crop yield and save crop cultivations from pests. Agrochemicals are developed to overcome these challenges. A major growth factor in APAC is increased usage of fungicides, pesticides, insecticides, and other chemical aggregates. Since MCAA is extensively deployed in these agrochemicals and chemical aggregates, the market is likely to witness positive growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the monochloroacetic acid market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global monochloroacetic acid market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the monochloroacetic acid market during the forecast period.
Our report provides extensive information on the value chain analysis for the monochloroacetic acid market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Monochloroacetic Acid Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.5% |
Market growth 2022-2026 |
$ 165.63 million |
Market structure |
Fragmented |
YoY growth (%) |
2.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key consumer countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abhishek Impex, Anugrah In Org Pvt. Ltd., Archit Organosys Ltd., Atul Ltd., CABB Group GmbH, Daicel Corp., Denak Co. Ltd., Henan HDF Chemical Co. Ltd., IOL Chemicals and Pharmaceuticals Ltd., ITALMAR THAILAND Co. Ltd., Jiangxi Biochem Co. Ltd., Jubilant Pharmova Ltd., Kerry Group Plc, Mahalaxmi Industries, Merck KGaA, Meridian Chem Bond Pvt. Ltd., Nouryon Chemicals Holding BV, PCC SE, S.R.Drugs and Intermediates Pvt. Ltd., Shiv Chem Industries, TerraTech Chemicals I Pvt. Ltd., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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