Chloroacetic acid (also known as monochloroacetic acid) is an organochlorine compound and a useful building block in organic synthesis. It is a halogenated derivative of acetic acid which is used in manufacturing various chemical compounds, drugs, pesticides, drilling fluids, and dyes. Moreover, it is used to produce or prepare industrial chemicals and is used as a chemical intermediate or thickening agent in carboxymethyl starch and carboxymethyl-cellulose. Chloroacetic acid is used as an acidic derivative such as amide, anhydride, hydrazide, ester, acyl chloride, and salt due to its high reactivity.
Increasing demand for chloroacetic acid in the agriculture industry is driving the chloroacetic acid market growth. It is a colorless, crystalline solid and is highly soluble in water. In the agriculture industry, carboxymethylcellulose is widely used in the production of sprays and pesticides. Moreover, the rapid growth of the agriculture industry in China, India, and Brazil due to favorable government regulations coupled with raw material access is expected to increase the demand for pesticides, driving the chloroacetic acid market growth. Furthermore, the European Commission and the Environmental Protection Agency (EPA) have outlined regulatory norms aimed at reducing volatile organic compounds emissions, which is expected to increase the demand for bio-based chemicals.
These regulatory norms are expected to hamper the growth of the chloroacetic acid market. For example, manufacturers of chloroacetic acid have been fined as it is polluting the environment and is toxic, according to the European Chemicals Agency. One of the key reasons behind the growth of the market is the widespread usage of chloroacetic acid across end-use industries such as agriculture, cosmetics, chemical, and pharmaceutical. Moreover, due to the increasing global population, the demand for agrochemicals is increasing and this is increasing the demand for food grains, due to which the demand for chloroacetic acid is also expected to increase in near future.
In terms of geography, the chloroacetic acid market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. In 2017, North America held the third-largest share in the market, owing to increasing demand for chloroacetic acid from end-use industries such as agriculture, cosmetics, chemical, and pharmaceutical. Asia Pacific is also expected to witness substantial growth in the market due to the rising agricultural industry in China and India amid regulatory inclination to increase production output at the domestic level. For instance, the Indian government introduced the Draft National Chemical Policy aimed at increasing chemical output at the domestic level from 3% to 6% by 2020.
No comments:
Post a Comment