Monochloroacetic Acid Market by Product Form (Crystalline, Liquid, And Flakes), Application (CMC, Agrochemicals, Surfactants, TGA), and Region (North America, APAC, Europe, Middle East & Africa, and South America) - Global Forecast to 2022
“The monochloroacetic acid (MCA) market is projected to grow at a CAGR of 3.6% between 2017 and 2022, in terms of value”
The MCA market is estimated at USD 762.6 million in 2017 and is projected to reach USD 908.9 million by 2022, at a CAGR of 3.6% between 2017 and 2022. The market growth is fueled by the increasing demand for MCA from end-use industries, such as construction, agrochemical, and surfactant. Increasing population, rising GDP, growing disposable income, improving standards of living, and the increasing number of joint ventures, acquisitions, and other development activities by leading market players have also contributed to the growth of the global MCA market. On the other hand, harmful effects of MCA exposure pose a challenge to the market growth. MCA requires careful handling and appropriate operation/processing techniques. The diluted MCA can cause eye and skin irritations upon contact; whereas, the concentrated MCA can be more harmful, causing skin corrosion and conjunctival burns. However, the high demand from the construction industry in emerging economies, such as China, India, Malaysia, Indonesia, Brazil, Mexico, Argentina, and others is expected to create enormous opportunities for the MCA manufacturers, during the forecast period.
“The liquid segment is projected to be the fastest-growing product form segment of the market during the forecast period”
The liquid form segment is projected to be the fastest-growing product form segment of the MCA market during the forecast period, in terms of both value and volume. This growth can be attributed to its (liquid form) easy miscibility as an intermediate and efficient operation. Increased R&D activities to develop new and innovative products for use across a wide range of application areas are expected to boost the growth of the MCA market during the forecast period.
“The surfactants segment is projected to be the fastest-growing application segment of the market during the forecast period”
Based on application, the surfactants segment is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. The increasing adoption of surfactants in the cosmetic industry of developing countries, such as India, China, Indonesia, and Brazil, is expected to drive the demand for MCA in this application. Increasing disposable income and changing lifestyles of consumers are key factors driving the growth of the surfactants market in emerging economies. Surfactant-based face wash, gel, and hair cream, among other personal care products, are replacing conventional products, owing to their cleansing ability, ease of usage, and customization.
“Asia Pacific is projected to be the largest market for MCA between 2017 and 2022”
The Asia Pacific region is projected to be the largest and the fastest-growing market for MCA during the forecast period, in terms of both value and volume. Large industrial base and increased infrastructural activities are the major drivers for the growth of the MCA market in this region. Increased industrialization in emerging economies, such as Indonesia, India, and China, also drives the MCA market growth in the region.
China dominates the Asia Pacific MCA market. The country’ consumption of MCA has grown significantly and is expected to grow further in the near future. The high growth of the MCA market in China is attributed to the country’s growing population, infrastructural development, and rapid urbanization. Additionally, more than half of the MCA consumed globally, is manufactured in China.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
• By Company Type: Tier 1 - 50%, Tier 2 - 25%, and Tier 3 - 25%
• By Designation: C Level - 45%, Director Level - 30%, and Others - 25%
• By Region: Asia Pacific - 35%, Europe - 25%, North America - 20%, South America - 10%, and the Middle East & Africa - 10%
The report provides profiles of major market players, such as AkzoNobel (Netherlands), CABB (Germany), Daicel Corporation (Japan), PCC SE (Germany), Niacet Corporation (US), Shandong Minji Chemical (China), Denak Co. (Japan), Kaifeng Dongda Chemical Company (China), and Meridian Chem-Bond (India). The report also includes competitive strategies adopted by them to strengthen their position in the market.
The objective of the study is to define, describe, and forecast the market based on various segmentations and strategically analyze the market segments with respect to individual growth trends, growth prospects, and contribution to the total market. In this report, the MCA market has been segmented based on product form, application, and region.
REASONS TO BUY THE REPORT
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the MCA market comprehensively and provides the closest approximations for sizes of all market segments and subsegments across different verticals and regions.
2. This report will help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about new product developments, expansions, and partnerships adopted by the key players in the MCA market.