Market Size of Monochloroacetic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Monochloroacetic Acid (MCAA) Market Analysis
The global monochloroacetic acid market is projected to register a CAGR of over 5% during the forecast period.
COVID-19 negatively impacted the agrochemicals market thus declining the market studied. Labor shortages, transportation issues, and liquidity shortages as a result of the lockdown caused by the COVID-19 pandemic affected the supply chain of the agriculture market. However, government packages for the agriculture post-COVID and pharmaceutical industry are boosting the agriculture industry.
- Over the short term, the growing consumption from the Pharmaceutical Industry, and the growing production of agrochemicals in the country are the major factor driving the growth of the market studied.
- However, the decline in detergent consumption is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the rising usage of cyanoacetic acid is likely to create lucrative growth opportunities for the global market soon.
- Asia-Pacific dominated the market across the world, with the largest consumption coming from China and India.
