H1 2023: Monochloroacetic Acid prices exhibited fluctuating patterns in China during H1 2023. In January, prices remained stable due to consistent demand from Chinese and overseas markets in the agrochemical and dyes industries. Supplies were ample to meet overall downstream industry demand. However, in March 2023, prices of Monochloroacetic Acid decreased, influenced by subdued demand and surplus supply in the local market. Additionally, the production cost of Monochloroacetic Acid decreased as there was less cost pressure from feedstock Acetic Acid and Acetic anhydride. The Chinese market saw limited new queries, impacting the pricing sentiments of Monochloroacetic Acid, while manufacturing activity experienced a slower expansion in March. The prices trended downwards till June 2023. Also, Monochloroacetic acid experienced a decline in prices in the South Korean market from March 2023. Demand from the downstream agrochemical and pharmaceutical sectors decreased due to weak buying sentiments in South Korea. Furthermore, steady imports from China and other exporting nations contributed to ample inventories in the South Korean market and thus, leading to fall of Monochloroacetic Acid prices in South Korea. Additional factors like declined freight charges, driven by weak demand and economic uncertainties, exerted downward pressure on monochloroacetic acid prices in the South Korean market.
The global Monochloroacetic Acid market stood at approximately 300 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.5% during the forecast period until 2032. The Monochloroacetic Acid market experiences significant growth due to heightened demand across industries such as crop-protection chemicals, adhesives, and pharmaceuticals. The increased use in producing herbicides and carboxymethyl cellulose is a key factor driving market expansion. Furthermore, the growing applications of Monochloroacetic Acid in various end-use sectors contribute to its increasing importance, as its versatile properties establish it as a crucial element in a wide range of industrial processes.
Monochloroacetic Acid (MCA) holds paramount importance as a versatile compound with a wide range of applications. In the realm of chemical synthesis, it serves as a vital intermediate for synthesizing various chemicals, including pharmaceuticals, and agrochemicals. In agricultural chemistry, MCA plays a fundamental role in herbicide production, contributing significantly to weed control in agricultural settings. Within textile chemistry, MCA is employed for fabric dyeing processes, enhancing colour vibrancy and playing a role in the textile industry. In pharmaceutical chemistry, it acts as a precursor, playing a key role in the synthesis of specific drugs and pharmaceutical compounds. MCA's utility extends to cosmetic chemistry, where it is utilized in formulating cosmetic and personal care products such as soaps and shampoos. Lastly, in the oil and gas industry, MCA is integral to formulating drilling fluids, optimizing drilling performance. The compound's multifaceted applications underscore its crucial role in diverse industrial processes across sectors. Another application of MCA is in the production of carboxymethylcellulose (CMC). CMC, a cellulose derivative, finds usage in the production of wallpaper Adhesives, detergents, soaps, and serves as a thickening agent in emulsion paints. Additionally, in ceramic production, it functions as a thickener, plasticizer, and binding agent, contributing to the enhanced smoothness of enamel.
Over the course of the forecast period, one of the main factors driving the growth of the worldwide Monochloroacetic Acid market is the increased use for crop protection chemicals. It functions as an intermediary in the generation of active components within this sector. These active components form the primary elements of plant protection formulations, crucial for cultivating plants, including herbicides and insecticides. The increasing adoption of agrochemicals is propelled by a combination of factors such as advancing agricultural technology, the scarcity of arable land, growing environmental apprehensions, and global breakthroughs in plant breeding and management practices. This convergence of influences is steering the agricultural sector towards heightened reliance on agrochemicals to address emerging challenges and enhance overall agricultural productivity on a global scale. The growing usage of MCA in the pharmaceutical industry for the production of diclofenac sodium ibuprofen vitamin B6, malonates, and glycine is another factor leading the market expansion. The global Monochloroacetic Acid market size is anticipated to reach nearly 350 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Monochloroacetic Acid. The Asia Pacific region is poised to dominate the monochloroacetic acid (MCAA) market due to factors such as rapid industrialization, agricultural activities, and being a major hub for chemical manufacturing. Countries like China and India experience increased demand for MCAA, a crucial raw material in Crop protection chemicals & Pharmaceuticals Sector. Modern farming practices and growing usage of crop protection chemicals is likely to support market expansion. The region's prominence in chemical trade, particularly in exporting MCA and its derivatives, further solidifies its market dominance. Additionally, growing demand for MCA-derived products, such as carboxymethylcellulose (CMC), in industries like pharmaceuticals and textiles, contributes to the region's leading position.
Based on the end-user industry, the global Monochloroacetic Acid market is divided into Crop Protection Chemicals, Pharmaceuticals, Adhesives, and Others. However, Crop Protection Chemicals is the major segment and held approximately 44% of the global Monochloroacetic Acid market in 2022. Primarily employed in the synthesis of MDI, antioxidants, activators, accelerators, and other rubber industry chemicals, aniline is also utilized in smaller quantities as an additive in fungicide and herbicide production.
Major players in the Global Monochloroacetic Acid market are Akzo Nobel N.V., CABB GmbH, Denak Co. Ltd, The Dow Chemical Company, Niacet, Shandong Minji Chemical Co. Ltd., Anaven LLP, and Nouryon.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Monochloroacetic Acid which covers production, demand and supply of Monochloroacetic Acid market in the globe.
• To analyse and forecast the market size of Monochloroacetic Acid
• To classify and forecast Global Monochloroacetic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Monochloroacetic Acid market in the globe.
To extract data for Global Monochloroacetic Acid market, primary research surveys were conducted with Monochloroacetic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Monochloroacetic Acid market over the coming years.
ChemAnalyst calculated Monochloroacetic Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Monochloroacetic Acid. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Monochloroacetic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Monochloroacetic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Monochloroacetic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Monochloroacetic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
230 thousand tonnes
Market size Volume in 2032
350 thousand tonnes
Growth Rate
CAGR of 3.5% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Crop Protection chemicals, Pharmaceuticals, Adhesives, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Monochloroacetic Acid in terms of volume in 2022?
Ans:
The global market size of Monochloroacetic Acid had reached approximately 230 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Monochloroacetic Acid?
Ans:
Asia Pacific region is the leading consumer of Monochloroacetic Acid globally.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.