LONDON–(BUSINESS WIRE)–#Chemicals–The global
monochloroacetic acid (MCAA) market is expected to grow at a CAGR of
close to 4% during the forecast period, according to Technavio’s latest
market research.

In this market research report, Technavio
covers the market outlook and growth prospects of the global
Monochloroacetic acid market for 2017-2021. The market is further
categorized into four application segments, including cellulosic,
agrochemicals, thioglycolic acid, and surfactants.

Technavio’s research analysts segment the global
monochloroacetic acid market into the following regions:

• APAC
• EMEA
• The Americas

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APAC: largest Monochloroacetic acid market

APAC accounted for 68% of the total market share and is likely to grow
at a faster CAGR than global CAGR. Application segments such as
cellulosic, agrochemicals, glycine, TGA, and other applications are
driving the market in this region. Increasing demand from countries such
as China, India, and Indonesia due to technological advances and less
stringent laws on chemical usage and production, is expected to drive
the market during the forecast period.

“Due to increasing demand and consumption of MCAA and its
derivatives, few international players are migrating to China and India
to establish production facilities of MCAA. The rise in population in
many APAC countries and increase in consumption of cellulosic,
agrochemicals like fertilizers and pesticides, and glycine will prove to
be growth factors for the market,” says Kshama Upadhyay, a lead specialty
chemicals expert from Technavio.

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Monochloroacetic acid market in EMEA

Moderate growth rate is expected from EMEA during the forecast period.
Environmental regulations on usage of chemical products and the
increased demand for biobased products, especially in Europe are the
factors leading to this moderate growth. The booming oil and gas
industry in MEA is contributing to the growth of the MCAA market. MEA is
a prominent consumer of agrochemical products such as pesticides and
fertilizers that include MCAA. Increase in income in the middle-class
and rapid changes in lifestyle in Eastern Europe countries will drive
demand during the forecast period.

“Growth rate is expected to increase in the EMEA region. However, the
rate is expected to be slower than the global rate. In the European
market, skin care and toiletries are the dominant application
industries. In addition, an increase in demand for pharmaceutical
products that contain MCAA derivatives will lead to the growth of the
market,” says Kshama.

Monochloroacetic acid market in the Americas

Due to high regulations on the usage of chemicals and increased use of
biobased products, the MCAA market in Americas is expected to grow at a
much slower rate during the forecast period. Prime applications of MCAA
in this region are agriculture, industrial water treatment, and
detergents, and cleaning solutions. Heavy investments in R&D and the
demand for more agricultural production will boost market growth during
the forecast period.

The top vendors in the global
monochloroacetic acid market as highlighted in this market research
analysis are:

• AkzoNobel
• CABB
• Daicel Corporation
• The Dow Chemical Company
• Jubilant Life Sciences
• MCAA SE
• Niacet

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