- The chloroacetic acid market is expected to expand at about 2% CAGR from 2015 to 2022 (forecast period), as per Grand View Research, Inc. Chloroacetic acid, also referred to as monochloroacetic (MCA) acid, is an organochlorine compound. It and its derivatives are used for the production of dyes, drugs, pesticides, fertilizers, and other chemical compounds.
For Market Research Report on “Chloroacetic Acid Market” Visit -http://www.grandviewresearch.com/industry-analysis/chloroacetic-acid-market
The raw material prices of methanol and acetic acid are a challenge for chloroacetic acid manufacture. Demand for agrochemicals will spur the market in the years to come. Increasing applications of carboxymethyl cellulose in the oil drilling sector will also escalate chloroacetic acid market revenues during the forecast period.
Norms by the Environmental Protection Agency (EPA) and European Commission reduce VOC (volatile organic compounds) emissions and produce bio-chemicals. These can hamper the market. The worldwide market is fragmented into applications and regions. Chloroacetic acid is used in the industrial applications of thioglycolic acid, herbicides, and cellulose ethers.
It has additional uses in the taconite and iron ore mining sectors. The textiles sector utilizes this product for fusing indigo dyes. Chloroacetic acid also finds scope in the medical sector for the treatment of arthrosclerosis, skin lesions, and veruccae. Incidences of rapid aging in Japan and the U.S. should be favorable for the chloroacetic acid market.
Asia Pacific has the highest expansion potential on account of its agriculture sector in India and China. Low manufacturing costs and easy access to raw materials for the development of pharmaceutical products and pesticides in China will also drive this region. A policy has been implemented by the Indian government to grow chemical productivity from three to six percent by 2020.
This will provide new prospects to chloroacetic acid manufacturers. The North American chloroacetic acid market should experience growth due to production of natural gas and crude oil. Exploration of shale deposits in the U.S. will augur the production of drilling fluids, furthering this region. Use of chloroacetic acid in the manufacture of personal care products in Europe is expected to assist the regional market.
Construction of new pathways in Brazil would also contribute global demand. Key players of the chloroacetic acid market are AkzoNobel N.V., Daicel Corporation, Dow Chemical Company, Solvay S.A., and Niacet Corporation.
Information Source: Grand View Research
To request a sample copy of this report, please complete the form below.
To purchase a copy of this report, please contact at
28 2nd Street, Suite 3036
San Francisco, CA 94105
Toll Free: 1-888-202-9519