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Monochloroacetic Acid Market - Growth, Trends, COVID-19 Impact and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4514868
UP TO OFF until Jun 30th 2023
The global monochloroacetic acid market is projected to register a CAGR of over 5% during the forecast period.

COVID-19 negatively impacted the agrochemicals market thus declining the market studied. Labor shortages, transportation issues, and liquidity shortages as a result of the lockdown caused by the COVID-19 pandemic affected the supply chain of the agriculture market. However, government packages for the agriculture post-COVID and pharmaceutical industry are boosting the agriculture industry.

Key Highlights

  • Over the short term, the growing consumption from the Pharmaceutical Industry​, and the growing production of agrochemicals in the country​ are the major factor driving the growth of the market studied.
  • However, the decline in detergent consumption​ is a key factor anticipated to restrain the growth of the target industry over the forecast period.
  • Nevertheless, the rising usage of cyanoacetic acid is likely to create lucrative growth opportunities for the global market soon.
  • Asia-Pacific dominated the market across the world, with the largest consumption coming from China and India.

Monochloroacetic Acid Market Trends

Increasing Demand from Personal Care and Pharmaceuticals Industries

  • Monochloroacetic acid (MCA) plays an important part in the personal care and cosmetic industry, as it is used in the manufacturing of betaines, i.e., amphoteric surfactants. Owing to the foaming properties of betaines, it is used in hair shampoos.
  • Thioglycolic acid (TGA or mercaptoacetic acid) is used in permanent hair styling formulations and is also manufactured using MCA. Thioglycolic acid and its derivatives are used in the production of hair care products, such as shampoos, conditioners, and hair masks.
  • According to INEGI, the total number of shampoos, conditioners, and hair rinses produced in Mexico reached 571.62 million units in 2021 and registered a growth rate of 5.4 % when compared to 542.22 million units in 2020.
  • As per INEGI's survey, the monthly sales volume of shampoo and conditioner produced in Mexico was valued at 45.9 million units in December 2021 and registered growth when compared to 45.46 million units in November 2021.
  • Additionally, rising disposable income, raising awareness of beauty products, changes in consumption patterns, the impact of globalization on lifestyles, and changing retail landscape in developing countries, such as India, Thailand, and Vietnam, are likely to boost the demand for personal care products in the coming years. This, in turn, is expected to increase the demand for MCA from the personal care sector.
  • According to The Internatinal Trade Administartion, and U.S. Department of Commerce, in 2021, the cosmetics market in Canada generated approximately USD 1.24 billion of revenue. Industry revenue is expected to grow by 1.45% annually to reach USD 1.8 billion by 2024.The recovery of the beauty and personal care industry in Canada represents a great opportunity for U.S. exporters of cosmetic products.
  • MCA is also required in the pharmaceuticals sector for the production of ibuprofen/brufen, diclofenac sodium, caffeine, vitamins (e.g. vitamin B), glycine, N-(P-hydroxyphenyl)-glycine (METOL), and maleates.
  • India is the third-largest pharmaceutical market, in terms of volume, and thirteenth most significant, in terms of value, as it has a large raw material base and availability of a skilled workforce.
  • According to the India Brand Equity Foundation, Indian pharmaceutical sector is expected to grow to USD 100 billion by 2025.
  • Hence, considering the aforementioned factors, with the increasing demand for personal care products, the demand for monochloroacetic acid is likely to rise, during the forecast period.

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share, owing to increasing demand from various end-user industries such as personal care and pharmaceuticals, agrochemicals, and others.
  • The demand for Monochloroacetic Acid (MCA) has witnessed an increase in the past few years in China and India, majorly because of the increasing demand from the personal care and pharmaceutical sectors.
  • According to the National Bureau of Statistics of China, the retail trade revenue of cosmetics was valued at CNY 30.89 billion (USD 4.42 billion) in December 2021.
  • The increasing concerns for hygiene and cleanliness have led to the growth in demand for personal care products, detergents, and washing soaps. This is likely to boost the demand for MCA, owing to its requirement in the production of these personal care products.
  • According to the Ministry of Economy Trade, and Industry (METI), the sales value of hair shampoo in Japan was valued at CNY 73.82 billion (USD 10.56 billion) in 2021.
  • The personal care and pharmaceutical industries are raising in Asia-Pacific as the demand and consumption increase with the increasing population from China and India.
  • As per IBEF, India's domestic pharmaceutical business was worth USD 42 billion in 2021 and is expected to grow to USD 65 billion by 2024 and USD 120-130 billion by 2030. The Indian pharmaceutical market expanded by 13.9% in terms of overall sales in January 2022.
  • Therefore, considering the aforementioned factors, the demand for monochloroacetic acid is expected to witness a rapid increase in Asia-Pacific, during the forecast period.

Monochloroacetic Acid Market Competitor Analysis

The monochloroacetic acid market is partially fragmented in nature. The major players include Nouryon, Merck KGaA, Alfa Aesar, PCC Group, and TerraTech Chemicals (I) Pvt. Ltd., amongst others (not in a particular order).

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  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Growing consumption from the pharmaceutical Industry
4.1.2 Growing production of agrochemical in the country
4.2 Restraints
4.2.1 Decline in detergent consumption
4.3 Industry Value-Chain Analysis
4.4 Porter Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION (Market Size in Value)
5.1 Chemical Application
5.1.1 Glycine
5.1.2 Carboxymethylcellulose (CMC)
5.1.3 Surfactants
5.1.4 2,4-Dichloro Phenoxy Acetic Acid
5.1.5 Thioglycol Acid
5.1.6 Other Applications
5.2 End-user Industry
5.2.1 Personal Care and Pharmaceuticals
5.2.2 Agrochemicals
5.2.3 Geological Drillings
5.2.4 Dyes and Detergents
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alfa Aesar, Thermo Fisher Scientific
6.4.2 Archit Organosys
6.4.3 Denak Co. Ltd
6.4.4 Henan HDF Chemical Company,Ltd.
6.4.6 Jiangxi Biochem Co. Ltd
6.4.7 Mahalaxmi Industries
6.4.8 Merck KGaA
6.4.9 Meridian Chem Bond Pvt. Ltd.
6.4.10 Nouryon
6.4.11 PCC Group
6.4.12 Shandong Minji New Material Technology Co. Ltd.
6.4.13 TerraTech

7.1 Rising Usage of Cyanoacetic Acid
7.2 Other Opportunities

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alfa Aesar, Thermo Fisher Scientific
  • Archit Organosys
  • Denak Co., Ltd
  • Henan HDF Chemical Company,Ltd.
  • Jiangxi Biochem Co., Ltd
  • Mahalaxmi Industries
  • Merck KGaA
  • Meridian Chem Bond Pvt. Ltd.
  • Nouryon
  • PCC Group
  • Shandong Minji New Material Technology Co., Ltd.
  • TerraTech