Monochloroacetic Market Rise at 3.9% CAGR During Forecast Period 2022-2031, TMR . Study
- Increasing demand for the production of various industrial chemicals, such as glycine, surfactants, and herbicides is boosting the growth of the monochloroacetic market
- Increased use of carboxymethyl cellulose, a derivative of monochloroacetic acid, in food and non-food products supports market expansion
Wilmington, Dale.And the September 22 2022 /PRNewswire/ – Due to its incredibly versatile nature, monochloroacetic acid finds applications in various end-use industries. This solid, water-soluble, crystalline, and colorless compound is used as a building block for many organic synthesis procedures. The increasing demand for monochlorinated acetic acid for the manufacture of various industrial products is increasing the demand in the market. According to the latest research report, the Monochlorinated Acetic Acid market is estimated to exceed a value 1.2 billion US dollars by the end of the forecast period in 2031.
Monochloroacetic compounds are mostly used for the synthesis of CMC or carboxymethyl cellulose. The growing demand for this water-soluble cellulose from a wide range of end-use industries, including oil drilling, detergents, food and non-food products is driving the growth of the monochloroacetic market.
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Monochloroacetic Market – Key Findings of the Report
- Increase CMC Applications: Carboxymethyl cellulose or CMC is a very clear and viscous solution, which is made by the alkaline catalytic reaction of cellulose with monochloroacetic acid. It finds various applications in the food and beverage industry, such as emulsifier, viscosity modifier, thickener, and others. CMC is used in low-fat and gluten-free food products, giving you a rich mouthfeel in food and beverage products. Furthermore, CMC is also used in other industries, including oil and gas, industrial manufacturing, ophthalmology, and non-food products, such as laxatives, paper products, diet pills, toothpastes, paints, and gels.
- High demand for food productsThe products in the monochlorinated acetic acid market are used to produce CMC, which is finding applications in the food and beverage industry. Liquid monochlorinated acetic acid compounds are also used in the agrochemical industry to produce the active substances needed for the production of pesticides and herbicides. The increasing demand for processed food products is increasing the need for high purity CMC. Likewise, the increasing demand to increase crop yields by protecting plants from pests and infection is also driving the growth of the monochlorinated acetic acid market.
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Monochloroacetic Market – Engines of Growth
- Increased use of monochlorinated acetic acid in the manufacture of agrochemicals used to increase crop yields promotes expansion of the monochloroacetic market
- The increasing use of CMC as a thickener in oil and gas drilling operations is driving the growth of the monochloroacetic acid market
Monochlorinated Acetic Acid Market – Major Players
The main participants operating in the monochlorinated acetic acid market are CABB Group GmbH and Denak Co. Ltd. and Jubilant Life Sciences Ltd. and Archit Organosys Limited, IOL Chemicals & Pharmaceuticals Limited, AkzoNovel NV, Niacet Corporation, Shandong Minji Chemical Co. Ltd. PCC SE and Meghmani Organics Ltd. and Meridian Chem Bond Pvt. Ltd. The players in the market are focusing on increasing their production capacities in a bid to meet the increasing demands from various end users. To achieve this, some market players are also entering into joint ventures with players in the chemical industry.
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Monochlorinated Acetic Acid Market – Regional Growth Dynamics
In 2021, Asia Pacific It accounts for 60% of the total volume share in the monochlorinated acetic acid market. The main drivers driving the growth of this regional market include increasing demand for agrochemicals from leading countries such as India And the China. Moreover, the large capacities of CMC manufacturing in these countries also favor their rise Asia Pacific Monochlorinated acetic acid market.
The presence of a robust and technologically well-established healthcare infrastructure and the increasing use of CMC in biosensing, drug delivery, and wound dressing applications are the main drivers that support the growth of Europe And the North Amarica regional markets. Latin america And the The Middle East And the Africa Taken together, they represent less than 10% of the total market share in 2021. However, the increasing R&D initiatives for energy production using CMC, are creating noteworthy growth opportunities in these regions.
Monochloroacetic Acid Market: Market Segmentation
Monochloroacetic Acid Market, by Product
Monoacetic Acid Market, by Application
- carboxymethyl cellulose
- thioglycolic acid
- North Amarica
- Asia Pacific
- The Middle East & Africa
- Latin america
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