According to a new market research report published by sheer analytics and insights, “The Global Monochloroacetic Acid Market was $863.00 Bn in 2020, and it is expected to reach $1076.00 Bn by 2028. It is eventually growing at a commendable high compound of annual growth rate CAGR of 2.8% between 2020–2028″, as per the latest market research report titled Global Monochloroacetic Acid Market (By Product Form — Crystalline, Liquid, and Flakes. By Application — Carboxymethylcellulose (CMC), Agrochemicals, Surfactants, Thioglycolic Acid (TGA), and Others. By Geography– North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2020–2028
Extended Monochloroacetic Acid Market (By Product Form — Crystalline, Liquid, and Flakes. By Application — Carboxymethylcellulose (CMC), Agrochemicals, Surfactants, Thioglycolic Acid (TGA), and Others. By Geography– North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2020–2028.
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COVID has impacted the Monochloroacetic Acid Market negatively. Companies operating in the Monochloroacetic Acid Market is experiencing many challenges due to the shutdown of businesses across different industries, including the food & beverage industry during the COVID-19 pandemic. The temporary global demand is expected to witness sluggish growth. However, the market is expected to recover soon and projected to operate with its full capacity by 2021.
Monochloroacetic Acid also commonly known as chloroacetic acid is a specialty organochlorine compound having chemical formula organochlorine compound with the formula ClCH₂CO₂H. It is a building block in organic synthesis and used as a raw material in the production of numerous chemical compounds, agrochemicals, and drugs. The Monochloroacetic Acid Market is primarily driven by the rising demand for Monochloroacetic Acid in the production of carboxymethylcellulose (CMC), thioglycolic acid, herbicides, insecticides, and glycine chemical material. These materials are used across different end-use industries such as food and beverages, agriculture, personal care, and construction. However, the hazardous effects of monochloroacetic acid exposure and stringent government regulation are projected to restrain the market to some extent. Apart from this, expanding personal care industry across emerging economies are projected to offer a lucrative opportunity for market growth over the forecast period from 2020 to 2028. Geographically, The Big Data Analytics Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa
Major Players in Monochloroacetic Acid Market
Some of the key players in the global Monochloroacetic Acid Market include AkzoNobel N.V., CABB GmbH, Daicel Corporation, Denak Co., Ltd, The Dow Chemical Company, PCC SE, Niacet Corporation, Xuchang Dongfang Chemical Co. Ltd., Shandong Minji Chemical Co., Ltd., Shiv Chem Industries, and Jubilant Life Sciences Ltd.
The Global Monochloroacetic Acid Market Has Been Segmented into:
By Product Form Type
By Application Type
- Carboxymethylcellulose (CMC)
- Thioglycolic Acid (TGA)
By Geography Type
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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