ALBANY, N.Y.--(BUSINESS WIRE)--The growth prospects of the global monochloroacetic acid (MCA) market seem moderately healthy with Transparency Market Research’s latest study predicting that this market will exhibit a 3.6% CAGR from 2014 through 2020 in revenue terms. The TMR report, titled “Monochloroacetic Acid (MCA) Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020” studies all key applications of MCA, namely, agrochemicals, thioglycolic acid, cellulosics, surfactants, and others (cyanoacetic acid, phenoxyacetic acid, etc).
The findings of the report state that the global monochloroacetic acid (MCA) market was valued at US$817.1 million as of 2013, and will grow to US$1,046.7 million by 2020. By volume, the global monochloroacetic acid (MCA) market was estimated at 677.0 kilo tons as of 2013.
MCA and its derivatives are in high demand in herbicides, drilling fluids, plastic stabilizers, textiles, surfactants, food processing, pharmaceuticals, and construction. China, the global leader in the manufacture of chemical fertilizers, steel and cement, creates massive demand for MCA annually, and is credited for steering this market to a great extent globally.
TMR’s analysis also notes that the growing need for carboxymethyl cellulose (CMC) for drilling activities in oilfields and for agrochemicals (glyphosate and 2, 4-D) will act as catalysts for the growth of the monochloroacetic acid (MCA) market in the coming years. This will be further supported by the expansion in mining activities for taconite and iron ore, leading to new avenues being created for the monochloroacetic acid market, considering that CMC is in great demand in mining activities. MCA raw material prices are prone to volatility; this could restrain the monochloroacetic acid (MCA) market to some extent. The report also profiles leading market players and analyzes their financial standing.
TMR is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.