The global monochloroacetic acid (MCA) market caters to several end-use industries. Monochloroacetic acid is also known as chloroacetic acid, which is a carboxylic acid used for manufacturing several products such as drilling fluids, drugs, dyes, pesticides, and others. By application, the global monochloroacetic acid (MCA) market is divided into cellulosics, surfactants, agrochemicals, thioglycolic acid, and others such as phenoxyacetic acid and cyanaoacetic acid.
Region-wise, the global monochloroacetic acid (MCA) market is divided into Asia Pacific, North America, Europe, and Rest of the World (RoW). According to Transparency Market Research, in 2013, the global monochloroacetic acid (MCA) market was primarily driven by the demand from Asia Pacific. The demand for MCA is high in China. Let us look at how China will play a vital role in the development of the global monochloroacetic acid (MCA) market.
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Global Monochloroacetic Acid (MCA) Market and China Demand Analysis
Thriving End-use Industries
Monochloroacetic acid, along with its alkali salts, is used to manufacture various chemical products. For instance, monochloroacetic acid is converted to sodium chloroacetate and reacted with alkali cellulose to manufacture carboxymethylcellulose (CMC). Carboxymethylcellulose is used in several end-use industries such as detergents, textiles, food, coatings, drilling muds, cosmetics, and pharmaceuticals. All of these industries are thriving in China. With the expansion of these industries, the demand for MCA will continue to grow in China.
Monochloroacetic acid (MCA) is also used for the production of phenoxy herbicides. The agrochemicals sector in the global monochloroacetic acid market is the second largest application segment. The agrochemicals sector is projected to grow exponentially in the coming few years.
China has emerged as the biggest producer of fertilizers in the world. The high demand for pesticides and fertilizers in China is projected to support the growth of the global monochloroacetic acid (MCA) market significantly. In the Asia Pacific pesticides market, China is projected to remain the dominant sector in the years to come. Economies in Asia Pacific rely heavily on agriculture. This creates a sound foundation for the growth in demand for pesticides in this regional market.
The global monochloroacetic acid (MCA) market is driven by the mounting demand for carboxymethyl cellulose in oil drilling activities. According to Transparency Market Research (TMR), the segment of cellulosics held a market share of over 32% in the global monochloroacetic acid (MCA) market in 2013 and emerged as the dominant application sector. The cellulosics sector is projected to demonstrate remarkable growth in the coming few years.
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A few years back, Dow Chemical Company was planning to expand their cellulosic production capacity to the Asia Pacific region. Furthermore, in 2015, DuPont tied up with New Tianlong Industry in order to set up a cellulosic ethanol plant in China. With major international companies setting up cellulosics plants in China, the country will continue to play a significant role in the growth of the overall monochloroacetic acid (MCA) market.
Some of the key companies operating in the global monochloroacetic acid (MCA) market are Dow Chemical Company, Niacet Corporation, AkzoNobel, CABB, Denak, Daicel Corporation, and MCAA.