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Sodium Monochloro Acetate Market Size to Develop Lucratively by 2027

 

Global Sodium Monochloro Acetate Market: Introduction

·         Sodium monochloro acetate is the sodium salt of monochloroacetic acid. It is used as a component in the production of herbicides. It is also known as chloroacetic acid, which is the derivative of monochloroacetic acid produced through naturalization with alkali.

·         Sodium monochloro acetate (SMCA) is also manufactured by spraying molten monochloroacetic acid (MCA) with 50% caustic soda solution into a spray dryer

·         Sodium monochloro acetate has pungent smell and white color. It is used as a raw material in the production of herbicides, due to its high toxicity. It is also employed in the production of drugs, agrochemicals, dyes, textile auxiliaries, dyestuffs, and thickening agents.

·         Rapid hydrolysis of aqueous solution of sodium monochloro acetate leads to formation of hydrochloric acid and sodium glycolate

Growth of Agrochemical Industry to Drive Global Sodium Monochloro Acetate Market

·         The global sodium monochloro acetate market is anticipated to expand significantly during the forecast period. Growth of population and rise in the disposable income are key factors expected to boost the demand for sodium monochloro acetate during the forecast period.

·         Increasing urbanization and continuously growing population is driving the demand for food grains, which boosts the consumption of agrochemicals. This, in turn, augments the global sodium monochloro acetate market.

·         Rising consumption of sodium monochloro acetate for use in the production of n-glycine, dichlophenac sodium, maleanates, and vitamins is driving the demand for sodium monochloro acetate in the global pharmaceutical industry

·         Sodium monochloro acetate is used in the production of various chemicals including amino acetic acid, barbituric acid, and chloroacetic acid. This drives the demand for sodium monochloro acetate in the chemical industry.

·         Stringent government regulations and volatile prices of raw materials may hinder the global sodium monochloro acetate market. Fluctuations in prices of raw materials used for production of sodium monochloro acetate and availability of inexpensive substitutes for sodium monochloro acetate may hamper the market.

Pharmaceutical Grade Segment to Witness Attractive Opportunities

·         Based on grade, the global sodium monochloro acetate market can be segmented into technical grade, pharmaceutical grade, and others

·         The technical grade segment is anticipated to hold a major market share during the forecast period. The segment is anticipated to witness rapid growth in the near future, due to growing consumption of technical-grade sodium monochloro acetate in various end-use industries across the world.

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Agrochemical Segment Holds a Major Market Share

·         Based on end-use, the global sodium monochloro acetate market can be segmented into agrochemical, chemical, textile, pharmaceutical, and others

·         The agrochemical segment held a major share of the global sodium monochloro acetate market in 2018. Sodium monochloro acetate is largely used in the production of carboxymethyl cellulose, which is used in the manufacture of plant stabilizers.

·         Rising demand for agrochemicals is expected to augment the global sodium monochloro acetate market during the forecast period

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Asia Pacific to Offer Attractive Opportunities to Sodium Monochloro Acetate Market

·         In terms of region, the global sodium monochloro acetate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is anticipated to dominate the global market during the forecast period. The market in countries such as China, India, and Japan is estimated to expand at the maximum rate during the forecast period.

·         North America has been a prominent manufacturer and end-user of sodium monochloro acetate over the last few years. The U.S. held a major share of the sodium monochloro acetate in North America in 2018.

·         Germany is projected to constitute a major share of the sodium monochloro acetate market in Europe during the forecast period

Key Players Operating in Global Market

The global sodium monochloro acetate market is fragmented, with several regional and global manufacturers operating in the market. Prominent players operating in the market are investing in mergers, acquisitions, expansions, and launch of new products in order to maintain their leading position. Key players operating in the global sodium monochloro acetate market are:

·         CABB Group GmbH

·         AkzoNobel N.V

·         Daicel Corporation

·         Dow DuPont

·         Niacet Corporation

·         INEOS Salts

·         Swiss Salt Works AG

·         Dampier Salt

·         Cargill Incorporated

·         China National Salt Industry Corporation

·         Wacker Chemie AG

·         Cheetham Salt

·         The BTTCO Overseas Pvt. Ltd.

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