Monochloroacetic acid or MCA is an important organic compound primarily used in the production of carboxymethyl cellulose (CMC) and glyphosate. CMC finds wide application in numerous industries such as food & beverages, paper, pharmaceuticals, cosmetics, and oil drilling due to its viscosity and texture modifying properties. It is used as a stabilizer and emulsifier in products. Glyphosate is a widely used broad-spectrum systemic herbicide and crop desiccant. The global monochloroacetic acid market is estimated to be valued at US$ 941.62 Mn in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased use of monochloroacetic acid in the production of agrochemicals such as herbicides and insecticides is expected to drive the market growth over the forecast period. Monochloroacetic acid serves as a raw material in manufacturing glyphosate, which is massively used for crop protection globally. Glyphosate is a non-selective herbicide used to kill weeds that compete with crops. Its use allows farmers to plant with fewer pesticides and provides higher crop yields. Additionally, monochloroacetic acid is crucial in producing carboxymethyl cellulose (CMC), which is used as a stabilizer and emulsifier in numerous end-use industries including food & beverages. The growing demand for CMC from these industries is projected to propel the demand for monochloroacetic acid, thereby contributing to the market expansion.

Segment Analysis

The global monochloroacetic acid market is segmented based on application and region. The application segment is further divided into production of cellulose ether and derivatives, agrochemicals, surfactants, plasticizers, and others. The cellulose ether and derivatives segment dominates the market and accounted for around 50% share in 2023 due to rising applications in food and pharmaceutical industries.

Key Takeaways

The Global Monochloroacetic Acid Market Size is expected to witness high growth during the forecast period.

Regional analysis: Asia Pacific region currently dominates the monochloroacetic acid market and is expected to continue its dominance during the forecast period. China and India are the fastest growing countries due to growth in end-use industries such as agrochemicals and pharmaceuticals. Growing population coupled with rising incomes in these countries drive market growth.

Key players operating in the monochloroacetic acid market are AkzoNobel N.V., CABB Group GmbH, Niacet Corporation, and Denak Co. Ltd. AkzoNobel N.V. is the leading player due to it strong production base and global presence across different end-use industries. CABB Group GmbH focuses on research and development to cater to rising demand from agrochemical applications.

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