New York, NY -- (SBWire) -- 04/27/2021 --The global Monochloroacetic Acid Market is forecast to reach USD 893.0 Million by 2028, according to a new report by Reports and Data. Monochloroacetic acid (MCAA) is a colorless material, which is highly soluble in water and in organic solvents. The vapor pressure at room temperature is moderate. It has a pungent odor. MCAA being acidic, therefore, can cause skin irritation upon contact with a MCAA solution and can cause skin corrosion and conjunctival burns upon contact with more concentrated solutions. The systemic toxicity of MCAA is caused by inhibition of certain enzymes of the glycolytic cycle.
The major industrial use of Monochloroacetic acid is in the manufacture of carboxymethyl cellulose (CMC). CMC is used in a broad range of applications, including textiles, food, detergents, pharmaceuticals, drilling muds, coatings, and cosmetics. The market for Monochloroacetic acids is influenced by the rising demand for home cleaning products, the evolution of environment friendly chemicals required by textile industries, and the development of pharmaceutical industries, which require large Monochloroacetic acids.
The above-mentioned factors together create opportunities for market growth, while factors such as environment-detrimental effects of Monochloroacetic acids pose limitations in the market. These restraining factors include hazardous effects to humans and can cause skin as well as eye diseases. Consistent developments in the Monochloroacetic Acid Market owing to innovative efforts have enhanced the productivity as well as safety features of Monochloroacetic acids.
The populace of Asia Pacific has been shifting towards the youth, and the purchasing potential of this population is also increasing. The developing countries are looking at China and India as global market leaders. These countries consist of over 40% population across the globe, and rising industries such as textiles, personal care, and pharmaceuticals shall further surge the market growth in this region.
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Further key findings from the report suggest
Hydrolysis procedure is utilized in the production of Monochloroacetic acid, which is seen to observe a CAGR of 3.4% in the forecast period. The hydrolysis of trichloroethylene produces high-purity Monochloroacetic acid but has the drawback of utilizing a relatively more expensive starting material.
MCA is used to make surfactants, particularly mild betaine amphoteric surfactants. In the textile industry, a surfactant is used for processes such as scouring, dyeing, and finishing. Surfactants are estimated to have a CAGR of 4.3% during the forecast period.
Cellulosics have held a market share of 31.2% in the year 2018. Cellulosic is a polysaccharide that comprises of glucose monomers and is the main constituent of the cell walls of plants. It is usable in the manufacture of numerous products, including paper, textiles, pharmaceuticals, and insulation.
Asia Pacific is forecasted to witness the highest CAGR of 4.2% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the Monochloroacetic acid market. Agrochemical production and chemical consumption have increased in this region.
Key participants are AkzoNobel N.V., CABB GmbH, Daicel Corporation, Denak Co. Ltd., The Dow Chemical Company, PCC SE, Niacet Corporation, Xuchang Dongfang Chemical Co. Ltd., Shandong Minji Chemical Co. Ltd., and Shiv Chem Industries, among others.
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For the purpose of this report, Reports and Data have segmented into the global Monochloroacetic Acid Market on the basis of process type, product type, applications, and region:
Process Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Chlorination
Hydrolysis
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Dry Powder
Liquid
Pellets
Others
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
Cellulosics
Agrochemicals
Surfactants
Thioglycolic Acid
Others
Regional Outlook (Revenue in USD Billion; 2017–2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 – 2028
Chapter 3. Indicative Metrics
Chapter 4. Monochloroacetic Acid Market Segmentation & Impact Analysis
4.1. Monochloroacetic Acid Market Material Segmentation Analysis
4.2. Industrial Outlook
………….
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. AkzoNobel N.V.
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. CABB GmbH
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Daicel Corporation
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Denak Co. Ltd.
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. The Dow Chemical Company
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Monochloroacetic Acid market and its competitive landscape.
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Monochloroacetic Acid Market Growth, Trends Analysis and Demand with Top Industry Players - AkzoNobel N.V., CABB GmbH, Daicel Corporation and More
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