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Monochloroacetic Acid (MCAA) Market

Monochloroacetic Acid (MCAA) Market<br>

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Monochloroacetic Acid (MCAA) Market

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. MONOCHLOROACETIC ACID (MCAA) MARKET ANALYSIS Monochloroacetic Acid (MCAA) Market, By Application (Production of Chemical Compounds(Carboxymethylcellulose, Thioglycolic Acid, Technical Grade Glycine, and Others (Cyanoacetic Acid, Glycolic Acid, Betaine)), Drugs(USP Grade Glycine, Others (Ibuprofen)), Herbicides & Insecticides (Technical Grade Glycine, 2,4-D, 2,4,5-T, Others (MCPA, Dimethoate)) and Others (Others (Indigo Dyes, Amphoteric Surfactants))), By End Use (Pharmaceutical Industry, Chemical Industry(Agrochemicals, Specialty Chemicals, Others (Dyes, Detergents, Polymers, Pulp & Paper), Food & Beverages Industry, Personal Care Industry, Others (Oil & Gas)), and by Regions (North America, Latin America, Europe, Asia Pacific,  Middle East, & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  3. Definition ofMonochloroacetic Acid (MCAA) Market/Industry: • Monochloroacetic acid (MCAA) is also known as chloroacetic acid, is a colorless crystalline compound and is highly soluble in organic solvents. It has a chemical formula ClCH2CO2H with a molecular weight of 94.49 gram/mol. It is broadly used in the production of agrochemicals, pharmaceutical drugs, and various chemical compounds. It is a key ingredient in the manufacturing of carboxymethyl cellulose (CMC) compound and it has a wide range of applications across the food industry where it is used as a viscosity modifier, thickener, and emulsion stabilizer.  • The global Monochloroacetic acid (MCAA) market is estimated to account for US$ 551.6 Mn in terms of value and 882.5 Kilo Tons in terms of volume by the end of 2018 • Drivers: • Rising demand for carboxymethyl cellulose (CMC) compound from the food and beverage industry owing to its excellent viscosity and emulsion stabilizer properties. It is used in ice-creams, beverages, and other food products is expected to boost the market growth of Monochloroacetic acid (MCAA).  • Growing demand for glycine, as Monochloroacetic acid is a key material used in the production of glycine. Around 1.26 kg of MCAA is consumed for the production of 1kg of glycine. Glycine is mainly produced in two grades i.e. in technical grade and USP (United States Pharmacopeia) grade. Technical grade has various industrial applications such as the production of rubber sponge materials and metal finishing processes. USP grade is used as an additive in pet food prophylactic for diarrhea, especially for chicken and cat food.  • Asia Pacific region dominated the global Monochloroacetic acid (MCAA) market in 2018, accounting for 66.5% share in terms of volume, followed by Europe and North America, respectively

  4. Figure 1. Global Monochloroacetic acid (MCAA) Volume Market Share (%), By Region, 2018

  5. Market Restraints Increasing usage of pyridine as an alternative substitute of Monochloroacetic acid in the symtet production, as they are used in the production of herbicides and insecticides is expected to hamper the market growth of Monochloroacetic acid over the forecast period. For instance, Jubilant Life Sciences Limited—an India-based producer—has introduced the production process to produce symtet by pyridine route. The process generates fewer effluents as compared to MCAA route and involves minimum costs for production.

  6. Market Opportunities • Increasing usage of Monochloroacetic acid as a precursor in the production of ibuprofen which is widely used to treat pain, inflammation, and fever. Hence, this is expected to propel the market growth of Monochloroacetic acid over the forecast period.  • Growing focus of major players for expanding production facilities of ibuprofen is further expected to boost the market growth of Monochloroacetic acid. For instance, in October 2019, IOL Chemicals and Pharma Ibuprofen manufacturing facilities in Barnala clears USFDA inspection. OL Chemicals and Pharma Ibuprofen manufacturing recently received clearance from the US Food and Drug Administration USFDA.

  7. Figure 2. Global Monochloroacetic acid (MCAA) Market, Opportunity Analysis On the basis of end use, chemical segment is expected to dominate the global Monochloroacetic acid market in terms of volume accounting for a market share of 67.9% in 2018.

  8. Market Trends/Key Takeaways • Increasing application of Monochloroacetic acid from various end-use industries such as pharmaceuticals, chemicals, personal care, and food & beverages coupled with the expanding chemical industry in the Europe region is further projected to favor the market growth of the Monochloroacetic acid. For instance, the PCC SE Company commissioned a production facility for ultra-pure monochloroacetic acid production (Capacity–42 KT/ year) in Poland. Currently, production operations are in the start-up phase. The production is expected to commence by the end of 2016. • The growing focus of Monochloroacetic acid producers in the Asia Pacific region for expanding production facilities is a major trend that has been observed in the market. This is expected to foster the market growth of Monochloroacetic acid. For instance, In April 2016, CABB Gmbh formed a joint venture with Jining Gold Power Co. Ltd for the production of monochloroacetic acid with an annual production capacity of 25 kilotons. The company will produce monochloroacetic acid in the form of flakes and later on in form of liquid.

  9. Figure 3. Global Monochloroacetic Acid Volume Market Share (%), By End- Use Industry, 2018

  10. Competitive Section: Major players engaged in the market are AkzoNobel N.V., CABB Group, Nufarm Limited, Niacet Corporation, Jubilant Life Sciences Limited, Shandong Minji Chemical Co., Ltd., ArchitOrganosys Limited, IOL Chemicals & Pharmaceuticals Limited, Meridian Chem Bond Pvt. Ltd., and S.R.Drugs and Intermediates Pvt. Ltd. Key Developments: In April 2016, the company formed a joint venture with India-based Atul Ltd. for production of monochloroacetic acid.

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