Global Chloroacetic Acid (Monochloroacetic Acid) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Chloroacetic Acid (Monochloroacetic Acid) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Chloroacetic acid (CAA), industrially known as monochloroacetic acid (MCA), is the organochlorine compound with the formula ClCH2CO2H. This carboxylic acid is a useful building-block in organic synthesis. It is a colorless solid. Related compounds are dichloroacetic acid and trichloroacetic acid. Chloroacetic acid is a monohalogenated acetic acid (m-HAA) that is used as a photosensitizing agent and also in industrial synthesis of certain organic chemicals such as indigoid dyes. CAA is used in the topical treatment of warts in some countries and also as an herbicide and a bleaching agent for silkworm cocoons. Chloroacetic acid is a halogenated aliphatic carboxylic acid generally used as herbicide and preservative. Its mutagenic effects have been studied in Rattus norvegicus. The rate of degradation of MCA by photocatalysis using TiO2 at pH3 is reported to be enhanced under the influence of ozone. It is an irritant that hydrolyzes proteins resulting in degradation of the cells. This property has been applied in treating plantar warts.

Market Overview:

The latest research study on the global Chloroacetic Acid (Monochloroacetic Acid) market finds that the global Chloroacetic Acid (Monochloroacetic Acid) market reached a value of USD 796.63 million in 2022. It’s expected that the market will achieve USD 948.45 million by 2028, exhibiting a CAGR of 2.95% during the forecast period.

Significant economic downside risks

The outbreak of COVID-19 is affecting almost every region in the world. Each region has been affected by a significant growth and demotion. East Asia and the Pacific will grow by only 0.5%. South Asia will contract by 2.7%, Sub-Saharan Africa will contract by 2.8%, the Middle East and North Africa will contract by 4.2%, Europe and Central Asia will contract by 4.7%, and Latin America will contract by 7.2%. These downturns are expected to reverse years of progress towards achieving development goals and plunge thousands of people into extreme poverty. Emerging markets and developing economies will be hit by economic resistance from multiple quarters: a weak medical system, losses in trade and tourism, reduced remittances, insufficient capital flows, and increasing debt pressures that have led to tight financial conditions. Developed economies are expected to reduce 7%. This crisis has exceeded the speed of the global economy, and a global recession has become inevitable.

Global economic output reduction

Due to the pandemic of COVID-19, the global economy is expected to lose nearly US$8.5 trillion in output value in the next two years, which will erase almost all the gains of the previous four years. The sharp economic contraction marked the worst contraction since the Great Depression in the 1930s, while the economic downturn at the beginning of the year was only 2.1%. And the outbreak of COVID-19 will aggravate the phenomenon of poverty and inequality. By 2030, 130 million people may join the ranks of the extremely poor, which has hit the global efforts to eliminate extreme poverty and hunger. This epidemic has greatly damaged low-skilled and low-paying jobs, while at the same time making high-skilled jobs less affected, which will further increase income inequality within and between countries.

Stiff competition

With major manufacturers and suppliers in the chloroacetic acid industry competing at globally, the intensity of competition within the chloroacetic acid industry has increased. The vendors adopt strategies like price premiums to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on product pricing. The fierce competition is not conducive to the sustainable development of the industry. At the same time, small companies or small retailers enter the business consequently as venturing into a chloroacetic acid business does not require immense capital or investment. However, this leads to the proliferation of sub-standard or duplicate products which then hampers the competitive scenario in the market as established chloroacetic acid manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes. The fierce competition is not conducive to the sustainable development of the industry.

Growing demand from the agrochemicals and personal care industry

One of the major factors driving the market is the growing demand from the agrochemicals and personal care industry. Personal care and pharmaceuticals industry dominated the market and is expected to grow during the forecast period. Chloroacetic Acid (Monochloroacetic Acid) is used to make surfactants, particularly mild betaine amphoteric surfactants. Heating MCA with sodium or potassium hydrogen sulphide produces Thioglycolic Acid. Thioglycolic Acid and its derivatives are used in the production of hair care products, such as shampoos, conditioners, and hair masks.
Additionally, rising disposable income, raising awareness of beauty products, changes in consumption patterns, the impact of globalization on lifestyles, and changing retail landscape in the developing countries, such as India, Thailand, 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 of the region.
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.

Region Overview:

From 2022-2027, China is estimated to witness robust growth prospects.

Company Overview:

CABB is one of the major players operating in the Chloroacetic Acid (Monochloroacetic Acid) market, holding a share of 13.52% in 2022.
CABB
CABB Group is one of the worlds leading manufacturers of intermediate and finished chemical products. CABB is a highly specialized supplier, and development and production partner of leading companies, specifically in the agrochemical, pharmaceutical and specialty chemical industries. CABB is one of the worlds leading providers of custom manufacturing and high-purity monochloroacetic acid. CABB also produces a wide range of reagents and intermediates for customers throughout the chemical sector.
Nouryon
Nouryon produces and markets high purity salt, chlorine, caustic lye, hydrochloric acid, chloromethanes and monochloroacetic acid (MCA). Nouryons businesses form a strong and integrated product chain of energy, salt, chlor-alkali, and chlorine derivatives.

Segmentation Overview:

As for product types, the Solid MCA segment held the largest market share in 2021.

Solid MCA

Solid MCA is a colorless to light-brown crystalline material. It is soluble in water and sinks in water. Combustible. It is transported as a molten liquid and therefore can cause thermal burns. It is toxic by ingestion, skin absorption and inhalation of dust.

MCA Solution

MCA Solution is a colorless solution of the white crystalline solid. The acid concentration can be up to 80%. It is toxic by inhalation, ingestion and skin contact. It is corrosive to metals and tissue. It is used as an herbicide, preservative and bacteriostat.

Molten MCA

Molten MCA is a clear liquid with characteristic odor. Monochloroacetic acid for use as an essential raw material for a variety of products, such as carboxymethyl cellulose, adhesives, pharmaceuticals and crop protection chemicals. Molten MCA is only transported in bulk. Because of the restricted temperature limits, insulated and temperature controlled containers are used.

Application Overview:

By application, the Carboxymethyl Cellulose (CMC) segment occupied the biggest share from 2017 to 2022.

In terms of application, the chloroacetic acid market is segmented into carboxymethyl cellulose (CMC), agrochemical, surfactants, Thioglycolic Acid (TGA) and others. Chloroacetic acid is used in the production of pharmaceuticals, dyes, detergents, synthetic caffeine, glycine and Thioglycolic Acid, which acts as a stabilizer in PVC. It acts as a precursor to glyphosate and adrenaline. It also serves as a preservative and bacteriostat. Further, it is used as surface active agents and photosensitive chemicals. It is also used in the O-alkylation of salicylaldehyde and an active component in cosmetics. In addition, it is involved in the preparation of thickening agent carboxymethyl cellulose and carboxymethyl starch.

Chloroacetic acid is extensively used as a chemical intermediate for the production of numerous industrially and commercially important chemicals, including glycine, CMC, TGA, and cyanoacetic acid. Monochloroacetic acid (MCA) is majorly used in the production of carboxymethyl cellulose, TGA, and agrochemicals. In addition, the product is used in the manufacturing of glycine, amphotericsurfactants, cyanoacetic acid, phenoxyacetic acid, drugs, dyes, and chloroacetic acid esters. TGA prepared by monochloroacetic acid is used as a stabilizer in PVC and is a major component in some cosmetics. It is also used in the production of betaine-type surfactants, synthetic caffeine, and vitamins, and the production of 2, 4-D and methanoates for using in herbicides.

Key Companies in the global Chloroacetic Acid (Monochloroacetic Acid) market covered in Chapter 3:

Hangzhou Chuanggao Industry
Shandong MinJi Chemical
Jiangsu New Century Salt Chemistry
China Pingmei Shenma Group
Henan HDF Chemical
Nouryon
Meridian Chem-Bond Ltd
Archit Organosys Ltd
Denak
Niacet
Chongqing Barium Manganese Strontium Chemical
CABB
Tiande Chemical

In Chapter 4 and Chapter 14.2, on the basis of types, the Chloroacetic Acid (Monochloroacetic Acid) market from 2018 to 2029 is primarily split into:

Solid MCA
MCA Solution
Molten MCA

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Chloroacetic Acid (Monochloroacetic Acid) market from 2018 to 2029 covers:

Carboxymethyl Cellulose (CMC)
Agrochemical
Surfactants
Thioglycolic acid (TGA)
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)