Chloroacetic Acid Market

Chloroacetic Acid Market - Size, Share, Outlook, and
Opportunity Analysis, 2018-2026
Chloroacetic acid is a specialty organochlorine compound and building block in
organic synthesis. Hence, it used in the production of various chemical compounds,
agrochemicals, dyes, and drugs. Chloroacetic acid is used to prepare or produce
industrial chemicals and is used as a thickening agent or chemical intermediate in
carboxymethylcellulose (CMC) and carboxymethyl starch. It also produces
thioglycolic acid and glycine, which is a major precursor to the production of
glyphosate. Chloroacetic acid is a synthetic organic intermediate used as an acidic
derivative such as salt, acyl chloride, ester, hydrazide, anhydride, and amide due to
high reactivity of the carboxylic acid group and substitution of the direct interaction of
a Cl atom.
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The global chloroacetic acid market is expected to exhibit significant growth over the
forecast period, owing to increasing demand for chloroacetic acid for the production
of glycine. The amination of chloroacetic acid with ammonia produces glycine and
glycine is used as buffering agent in antacids, analgesis, antiperspirants, and
toiletries.
However, government regulations on chloroacetic acid is a major factor restraining
growth of the chloroacetic acid market. For instance, according to the harmonised
classification and labelling (ATP01) approved by the European Union, chloroacetic
acid is toxic if swallowed or exposed to skin. Also, it causes severe skin burns and
eye damage if inhaled. Furthermore, the classification provided by companies to
European Chemicals Agency (ECHA) in Registration, Evaluation, Authorisation and
Restriction of Chemicals (REACH) registrations helped to identify that chloroacetic
acid is toxic to aquatic life with long lasting effects and may be corrosive to metals.
The global chloroacetic acid market was valued at US$ 1,403.2 Million in 2017 and is
expected to register a CAGR of 6.87% in terms of revenue, over the forecast period
(2018 – 2026), to reach US$ 2,654.1 Million by 2026.
Amongst product type, monochloroacetic acid segment accounted for the largest
market share of 75.03% in 2017 and it is expected to increase during the forecast
period. Monochloroacetic acid is used for the production of carboxymethyl-cellulose,
herbicides, thioglycolic acids, and cellulose ethers. Monochloroacetic acid (MCA)
and sodium monochloroacetate (SMCA) are used in the synthesis of various
agrochemicals such as herbicides and pesticides. MCA is used as an intermediate in
the manufacturing of various agrochemicals including 2, 4-D, glyphosate. The
demand for agrochemicals in agriculture industry is increasing due to rising global
population and this has led to increasing demand for food grains, which in turn will
increase demand for chloroacetic acid. For instance, according to the India Brand
Equity Foundation (IBEF), Indian agrochemical sector was valued at 2.2 billion in
2017 and it is expected to reach US$ 7.5 billion in 2019, witnessing a CAGR of
13.18% during the forecast period (2013-2019).
North America accounted for the third largest market share in the global chloroacetic
acid market in 2017, owing to increasing demand for chloroacetic acid from end-use
industries such as pharmaceutical, chemical, cosmetics, and agriculture. These
factors are driving growth of the market in this region. Chloroacetic acid is used for
the production of vitamins, malonates, synthetic caffeine, and amino acidic acid.
Furthermore, growing pharmaceutical industry in the U.S. is another factor driving
growth of the chloroacetic acid market. According to the International Trade
Association (ITA), the total pharmaceutical sales in 2016 was valued at US$ 333
billion in the U.S.
Furthermore, chloroacetic acid is used to prepare or produce industrial chemicals
and is used as a thickening agent or chemical intermediate in carboxymethyl
cellulose (CMC) and carboxymethyl starch. In agrochemicals, herbicides such as
glyphosate is another factor driving the market growth. It is applied to the leaves of
plants to kill both broadleaf plants and grasses. The sodium salt form of glyphosate
is used to regulate plant growth and ripen fruit.
Major players operating in the global chloroacetic acid market include CABB GmbH,
Arkema Group, Daicel Corporation, Niacet Corporation, and Akzo Nobel N.V.
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The global chloroacetic acid market was valued at US$ 1,403.2 Million in 2017 and is expected to register a CAGR of 6.87% in terms of revenue, over the forecast period (2018 – 2026), to reach US$ 2,654.1 Million by 2026.

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