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Monochloroacetic Acid Market Analysis | 2023-2028
Monochloroacetic Acid Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The monochloroacetic acid market was estimated at USD 887.09 million in 2022 and is likely to grow at a CAGR of 4.13% during 2023-2028 to reach USD 1135.03 million in 2028.
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Monochloroacetic acid is a crystalline, colorless material possessing a pungent smell. Being highly soluble in organic solvents and water, the compound belongs to the carboxyl acid group. Monochloroacetic acid is manufactured by two routes: hydrolysis of trichloroethylene and chlorination of acetic acid.
The surge in demand for carboxymethyl cellulose in oil drilling activities, growing monochloroacetic acid demand in China and India, and increasing agrochemicals demand in the U.S. are some of the key factors expected to accelerate the market growth over the assessment period.
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Some of the key players in the market are:
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Process Type Analysis |
Chlorination and Hydrolysis |
The chlorination process is estimated to be the dominant segment of the market during the assessment period. |
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Application Type Analysis |
Cellulosic, Agrochemicals, Surfactants, Thioglycolic Acid, and Others |
The surfactant application type is estimated to hold the largest share of the market during the assessment period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is estimated to be the leading region in the market with China and India being the agro-based economies. |
The market is segmented into chlorination and hydrolysis. The chlorination process is estimated to be the dominant segment of the market during the assessment period on account of its utilization by the leading players of the market for product manufacturing and for other purposes such as killing particular bacteria and other microbes.
The market is segmented as cellulosic, agrochemicals, surfactants, thioglycolic acid, and others. The surfactant application type is estimated to hold the largest share of the market during the assessment period on account of its extensive utilization as foaming agents, dispersants, emulsifiers, and detergents. On the other hand, agrochemicals are estimated to witness significant growth in the market over the assessment period. The segment’s growth is supported by the high usage of agrochemicals in agriculture-based economies, such as India, Brazil, and China, where agrochemicals are used for crop safety and soil fertility.
Asia-Pacific is estimated to be the leading region in the market, with China and India being the agro-based economies fueling the regional market growth during the assessment period. Factors such as growing textile industries and increasing personal care and pharmaceutical industries are expected to accelerate the market growth in the region. North America is also expected to depict significant growth in the market over the forecast period on account of the growing pharmaceutical demand in the region as a result of the increasing number of diseases and epidemics, creating demand for newer and improved medicines and treatments.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s monochloroacetic acid market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our monochloroacetic acid market report from the industry stakeholders, we have tried to further accentuate our research scope to the monochloroacetic acid market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The monochloroacetic acid market is segmented into the following categories.
By Process Type
By Product Type
By Application Type
By Region
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Company Profiling
Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Monochloroacetic acid is a crystalline, colorless material possessing a pungent smell. Being highly soluble in organic solvents and water, the compound belongs to the carboxyl acid group. Monochloroacetic acid is manufactured by two routes: hydrolysis of trichloroethylene and chlorination of acetic acid.
The monochloroacetic acid market was estimated at USD 887.09 million in 2022.
The forecasted value of the monochloroacetic acid market is expected to be USD 1135.03 million in 2028.
The monochloroacetic acid market is likely to grow at a CAGR of 4.13% during 2023-2028.
Asia-Pacific is expected to have the largest share of the market during the assessment period.
AkzoNobel N.V., Alfa Aesar, CABB GmbH, Daicel Corporation, Denak Co., Ltd., Niacet Corporation, PCC SE, Shiv Chem Industries, The Dow Chemical Company, and Xuchang Dongfang Chemical Co. Ltd. are the key companies in the market.
The surfactants segment has the largest share of the market during the estimated time.
Surge in demand for carboxymethyl cellulose in oil drilling activities, growing monochloroacetic acid demand in China and India, and increasing agrochemicals demand in the U.S. are some of the key factors expected to accelerate the market growth over the assessment period.
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