Emerging economies such as China, India, Malaysia, Indonesia, Brazil, Mexico, Argentina, and others are some of the major markets for MCA. The growing infrastructural development and rapid urbanization in emerging economies are encouraging the rise in demand for CMC and surfactants, thus, boosting the demand for MCA.
China among other emerging economies is the largest construction market. In 2016, China’s construction industry grew at 17%, a 5% increase from 2015. This growth was augmented by policy changes such as strong fiscal stimulus for infrastructure investments and easing of real estate regulations, purchase criteria, and credit availability which resulted in the growth of the domestic real estate market. Infrastructure investment will further improve, driven by mandates to meet regional development plans, initiatives such as “Belt and Road” and development of smart cities which will include optimization of urban space through public transport, high-capacity infrastructure, mixed-use development, and green city planning. In India, the constant economic growth of around 7.5% driven by government initiatives such as FDI allowance, improved policy framework, and low commodity prices have provided a strong stimulus to the construction industry. Recent deregulations for the ease of doing business are attracting foreign investments. In addition, modernization of the construction industry also drives the MCA market.
The market size of Monochloroacetic Acid Market in 2016 was USD 733.4 million and is projected to reach USD 908.9 million by 2022, at a CAGR of 3.6%. CMC is the largest application of MCA that accounted for a share of 49.3%, in terms of value. Surfactants are the fastest-growing application segment of MCA, which is projected to register a CAGR of 3.5%.
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Asia Pacific is projected to be the largest market for MCA during the forecast period. The demand for MCA is high in this region due to the large industrial base and improving lifestyles of the population. In addition to this, the increasing use of MCA for applications such as CMC, agrochemicals, and surfactants in emerging economies, such as India, China, and Indonesia also drive the Asia Pacific MCA market.
Some of the key players in the MCA market include AkzoNobel (Netherlands), CABB (Germany), Daicel Corporation (Japan), PCC SE (Germany), Niacet Corporation (US), Shandong Minji Chemical (China), Denak Co. (Japan), Kaifeng Dongda Chemical Company (China), and Meridian Chem-Bond (India). Joint venture and acquisition were the major growth strategies adopted by the market players between 2014 and 2017 to cater to the demand for MCA in emerging economies.
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