The Growing Pharmaceutical Industry is a Significant Driver of The Monochloroacetic Acid (MCA) Market
Rockville , Jan. 21, 2024 (GLOBE NEWSWIRE) -- The global monochloroacetic acid market is estimated at US$ 990.9 million in 2024, projected to grow steadily with a 6.4% CAGR through 2034. The market is projected to account for valuation of US$ 1,860.0 million by 2034. The demand for raw materials such as MCA intensifies, notably in burgeoning economies experiencing substantial industrial expansion. The surge in industrialization and urban development in developing nations drives increased demand for MCA-derived products, propelling market growth.
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The agriculture industry heavily relies on MCA for manufacturing herbicides. The continual need for effective herbicides to enhance crop yield drives the demand for MCA in this sector. Expanding applications of MCA in the chemical industry for producing carboxymethyl cellulose (CMC), a vital component in various industries, contribute to market growth.
Continuous innovations and advancements in production technologies are optimizing manufacturing processes, improving efficiency, and reducing production costs. These advancements contribute to the market's growth by making MCA more accessible and cost-effective. Ongoing innovations in production processes, such as eco-friendly manufacturing methods or improved formulations, contribute to increased efficiency and drive market growth.
Investigations and advancements in bio-based sources or substitutes for Monochloroacetic Acid (MCA) production are gaining traction. The focus on researching and investing in bio-derived MCA is poised to exert a considerable influence on the market's trajectory in the foreseeable future.
| Report Attribute | Details |
| Value Projection (2034) | US$ 1,860.0 million |
| Growth Rate (2024-2034) | 6.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 32 Tables |
| No. of Figures | 96 Figures |
Key Takeaways from Market Study
- The global monochloroacetic acid market is projected to expand at a CAGR of 6.4% through 2034.
- The North America monochloroacetic acid market is expected to grow at a CAGR of 7.3% through 2034.
- Monochloroacetic acid industry in the United States holds a dominant share of 69.3% in 2024.The United States the global monochloroacetic acid market, valued at US$ 161.4million in 2024.
- Monochloroacetic acid industry in China is expected to rise at a CAGR of 6.3% through 2034.
- Based on the end-use, pharmaceutical segment hold a 48.5% market share in 2024.
- The chemicals segment dominates end-use with a 27.6% share in 2024.
“Growing applications of MCA across diverse industries like pharmaceuticals, agrochemicals, textiles, and personal care, contributing to the growth of monochloroacetic acid market,” remarks an analyst at Fact.MR.
Key Companies Profiled in This Report
- Akzo Nobel
- CABB
- Daicel
- Shandong Minji Chemical
- Archit Organosys
- Denak
- Kaifeng Dongda Chemical Company
- Meridian Chem-Bond
Competitive Landscape
Companies focus on expanding their product portfolios, introducing variations of MCA to cater to different industry needs, such as high-purity grades for pharmaceuticals or specialized formulations for agrochemicals. Companies strive to innovate in production processes, finding eco-friendly methods or discovering new applications for MCA to tap into emerging markets.
- Daicel Corporation is known for its research and development initiatives, Daicel Corporation has been exploring novel applications of MCA and investing in eco-friendly production methods. Their efforts align with sustainability goals and market demands for greener chemical solutions.
- Niacet Corporation has emphasized strategic acquisitions and partnerships to expand its product offerings and cater to diverse industry requirements. They have also focused on complying with regulatory standards and implementing sustainable practices in their operations.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global monochloroacetic acid market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024-2034.
The study reveals essential insights based on end-use (Pharmaceutical, Chemicals, Food & Beverages, Others (Oil & Gas, Personal Care)) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).
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About Fact.MR:
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