A comprehensive report on the Global Monochloroacetic Acid Market has been published by Reports and Data that offers insightful data about market dynamics, drivers, restraints, current and emerging trends, market size, market share, and revenue growth of the market. The report provides a brief overview of the industry and gives an estimation of growth and revenue for the forecast period of 2021-2028. 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.
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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.
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.
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.
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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)
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Dry Powder
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Thioglycolic Acid
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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