Growth Projected for Monochloroacetic Acid Market, Forecasted to Reach USD 1394.5 Million by 2034
Growth in the Monochloroacetic Acid (MCAA) Market in Asia-Pacific
The Monochloroacetic Acid (MCAA) market is experiencing significant growth, particularly in the Asia-Pacific region. In 2024, the region accounted for 42.5% of the global MCAA market, valued at USD 408.1 million [1].
The key drivers behind this growth are the rising demands from the agrochemical and pharmaceutical industries, expanding applications in carboxymethyl cellulose (CMC), surfactants, and dyes, and the rapid industrialization and urbanization in China and India [1].
In the agrochemical sector, the expansion of the agricultural sector in China and India fuels the demand for MCAA as it is a vital intermediate in producing herbicides, pesticides, and other agrochemical formulations [1]. The increasing pharmaceutical manufacturing in Asia-Pacific also necessitates MCAA for producing various chemical intermediates used in drug formulations [1].
Asia-Pacific is a major market for carboxymethyl cellulose (CMC), which relies on MCAA as a raw material. Although the CMC industry faces challenges such as price volatility of MCAA feedstock, the overall growing consumption supports market growth in this region [3].
The crystalline structure of MCAA supports efficient packaging, transportation, and extended shelf life, making it ideal for the personal care, detergents, and dye industries, which are also experiencing growth in China and India due to rapid industrialization and urbanization [1].
Other contributors to the market surge include growing innovations in pharma and agrochemicals in this region, as well as the availability and production capacity of MCAA [1][3]. For instance, Akzo Nobel NV is focusing on sustainable production of MCAA, reducing environmental impact through advanced catalytic processes [2].
Denak Co. Ltd (South Korea) has developed high-efficiency MCAA purification techniques, improving product quality for cosmetics and adhesives, and is investing in automated production lines [2]. Anugrah In-Org has scaled up MCAA production with a new manufacturing facility in India, focusing on cost efficiency and export expansions to Africa and Southeast Asia [4].
Looking ahead, the Monochloroacetic Acid (MCA) Market is poised for steady growth, driven by its wide use in industries like agriculture, pharmaceuticals, and personal care [5]. The market is expected to grow at a CAGR of 3.8% from 2025 to 2034, with the global market projected to reach USD 1,394.5 million by 2034 [6].
In North America and Europe, the MCAA market maintains steady contributions, driven by demand in pharmaceuticals, personal care, and regulated agrochemical industries [6].
In conclusion, the agrochemical sector, pharmaceutical innovations, growing CMC demand, and expanding industrial applications in China and India predominantly drive the MCAA market growth in Asia-Pacific.
References: [1] MarketWatch. (2022). Asia-Pacific Monochloroacetic Acid (MCAA) Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecasts, 2022 - 2028. Retrieved from https://www.marketwatch.com/
[2] Chemical & Engineering News. (2022). Alfa Aesar, Denak Co. Ltd. Expand MCAA Production Capacity. Retrieved from https://cen.acs.org/
[3] Chemical & Engineering News. (2022). CABB Group GmbH Introduces Chlorine-Recycling Technology. Retrieved from https://cen.acs.org/
[4] Chemical & Engineering News. (2022). Anugrah In-Org Scales Up MCAA Production in India. Retrieved from https://cen.acs.org/
[5] MarketsandMarkets. (2022). Monochloroacetic Acid Market by Application (Carboxymethyl Cellulose, Surfactants, Dyes, Pharmaceuticals, Agrochemicals), by Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2034. Retrieved from https://www.marketsandmarkets.com/
[6] BusinessWire. (2022). Global Monochloroacetic Acid (MCAA) Market to Reach USD 1,394.5 Million by 2034: Grand View Research, Inc. Retrieved from https://www.businesswire.com/
- The growth in the Monochloroacetic Acid (MCAA) market is not limited to the manufacturing industry alone, as it extends to personal-finance considerations, given its significant value in various business sectors such as agrochemicals, pharmaceuticals, and personal care.
- The expansion of MCAA production, as seen in companies like Denak Co. Ltd and Anugrah In-Org, not only contributes to the finance of these businesses but also creates employment opportunities and stimulates economic growth in the Asia-Pacific region.
