Monochloroacetic acid, the general industrial name for chloroacetic acid, is a colorless and crystalline structured mass, highly soluble in water.
The chemical is reacted with ethanol, methanol, disulfide, chloroform, ether and a number of hydrocarbons and chlorinated-hydrocarbons, to make different solutions that find use in many applications.
These are used in solid-crystallized, solid-flaked, powdered and liquid forms.
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Monochloroacetic acid is primarily used as an agrochemical in the form of a cellulose named as carboxy methyl cellulose (CMC) and thioglycolic acid, which are used as plant stabilizers.The global decrease in arable agricultural land and growing demand for the agro-based products, due to increase in population, are major factors driving the demand for mono chloroacetic acid.
The acid is also used as a constituent in the manufacturing of insecticides and fertilizers. The second largest use of the mono chloroacetic acids is in the personal care and pharmaceutical segment, where it finds an extensive use as a constituent in the production of skin care ointments and as a medicine to cure few other diseases.
Betaine, a chemical compound being used in various supplements for muscle gain and promoting hair growth, is formed by using mono chloroacetic acid as one of its key components. Other segments that find use of this acid are geological drilling and textiles, among others.
The acid, when exposed to air and inhaled, causes intracellular respiratory issues, cardiac & serious skeletal and muscle toxicities in humans; hence, requires precautionary measures by the people handling the acid.
The market is highly diverse, as it has many end-users, globally. The largest demand is in the form of carboxy methyl cellulose (CMC), which is majorly produced by China.
Currently, there is a high demand from North America, as the region is focused on both the agriculture and oil & gas sectors. The demand is expected to increase from the Asia-Pacific region, especially from China, India, Bangladesh and the South-East Asian countries, in the coming years.
The growth in population and a demand in the agro-based products are the major driving factors for the Asia-Pacific market.
The major restraint in the market is limited to the volatility in the prices of raw materials, which is apparently decreasing with time. Ongoing research and development is directed towards suppressing the present volatility in the raw material prices.
These initiatives would prove to be strong opportunities for the mono chloroacetic acid market.
The market is strong in developing economies and hence, the largest players have a strong hold in these regions, especially Asia-Pacific. These players have production units that cater to the trade, effectively.
The profiles of the various companies producing mono chloroacetic acids have been discussed in the study.
Some of the key players in the market include
Akzo Nobel N.V
Clariant Acetyl Building Blocks GmBH
Dow Chemical Company
Shijiazhuang Hengyi Chemical
Henan HDF Chemical Company Limited
Key Deliverables in the Study
Market analysis for the global mono chloroacetic acid market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on global and regional scales.
Extensively-researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the market on both global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries where the industry is growing and also identify the regions that are still untapped.
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