Monochloroacetic Acid Market Research Report Size, Business Operation Data, Study with focus on Company Profile Assessment 2018-2023
Market Overview Monochloroacetic acid (MCAA), also known as chloroacetic acid, is a specialty organochlorine compound. It is colorless, crystalline structured mass, highly soluble in water. The global monochloroacetic acid market is primarily driven by the rising demand for agrochemicals in the major agricultural countries such as India, Brazil, China, and others. Lack of cultivable land and infertility of soil are the major drivers of the global monochloroacetic acid market. Furthermore, monochloroacetic acid is used in the production of carboxyl methyl cellulose (CMC), which is required in bulk for oil drilling activities such as a viscosity modifier and water retention agent, which is likely to drive the market growth over the assessment period. Additionally, the product holds a vital place in the pharmaceutical industry and is used for producing drugs such as maleates, ibuprofen, diclofenac sodium, n-glycine, and others. The product is also used as a thickening agent and offers proper texture to the cosmetics and personal care products. The increasing demand for cosmetic & personal care products across the globe due to increasing