Transparency Market Research has announced the addition of the "Monochloroacetic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
Albany, NY -- (SBWIRE) -- 09/03/2014 -- Transparency Market Research has published a new market report titled "Monochloroacetic Acid (MCA) Market for Cellulosics, Agrochemicals, Surfactants, Thioglycolic Acid (TGA) and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". The global monochloroacetic acid market was valued at USD 817.1 million in 2013 and is anticipated to reach USD 1,046.7 million by 2020, growing at a CAGR of 3.6% during the forecast period from 2014 to 2020. In terms of volume, the global monochloroacetic acid market stood at 677.0 kilo tons in 2013.
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Monochloroacetic acid (MCA) is a compound that undergoes various reactions to form a number of intermediates for the production of a range of products. Major markets for monochloroacetic acid and its derivatives include drilling fluids, herbicides, plastic stabilizers, surfactants, textiles, food processing, construction and pharmaceuticals. China is the leading manufacturer of chemical fertilizers, cement and steel in the world.
Demand for monochloroacetic acid is high from the growing end-user industries in the country. Thus, demand for monochloroacetic acid from China is estimated to boost the MCA market during the forecast period. Additionally, rising demand for carboxymethyl cellulose (CMC) in oil drilling activities and agrochemicals such as glyphosate and 2, 4-D is projected to propel demand for monochloroacetic acid in the near future. Furthermore, rising iron ore and taconite mining activities are likely to open up new avenues for MCA, as CMC (the major application product of MCA) is extensively used in mining activities. However, volatility in prices of raw materials for MCA is expected to act as a restraining factor for the market during the next few years.
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Cellulosics was the largest application segment, accounting for over 32% of the total monochloroacetic acid demand in 2013. This was followed by agrochemicals. These application segments are anticipated to witness exponential growth during the forecast period. The oil & gas industry is a major user of CMC. This is boosting the market for monochloroacetic acid. Additionally, growth in end-user industries in Asia Pacific is estimated to drive the market for MCA in the next few years. Other segments such as surfactants and thioglycolic acid are projected to exhibit significant growth during the forecast period, as MCA is used to manufacture a range of intermediates such as betaines and imidazolines. Betaines and imidazolines are used in personal care products such as shampoos, conditioners and skin creams. They are also used in other industries as stabilizers, corrosion inhibitors, water repellents and emulsifiers, among others.
Asia Pacific dominated the global MCA market in 2013. Growth in manufacturing, agrochemicals and personal care industries in the region is driving the MCA market in Asia Pacific. Additionally, growth in GDP of the region is expected to open up new avenues for the MCA market during the forecast period. Regions such as North America, Europe and Rest of the World together accounted for over 35% share of the global MCA market in 2013.
Global Monochloroacetic Acid - Application Analysis
Others (Cyanoacetic acid, phenoxyacetic acid etc.)
Global Monochloroacetic Acid - Regional Analysis
Rest of the World (RoW)
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