Chloroacetic Acid Market | Size Analysis, Growth, and outlook (2022-2030) (Uppdaterad version tillgänglig)
Chloroacetic Acid Market | Size, Share & Trends Analysis, By Type (Dichloroacetic Acid and Trichloroacetic Acid), Application (Chemical Intermediate, Alkylating Agent, Herbicide, Bacteriostat, Preservative, Metal Derivatives, Others), End User (Personal Care and Pharmaceuticals, Agrochemicals, Geological Drillings, Chemical Industry, Dyes and Detergents, and Others), By Region, Forecast Period 2022 - 2030.
Rapport-ID : RI_673877 | Datum : October 2024 |
Formatera : 
Key Market Overview:
Chloroacetic acid market size was valued at USD 879.5 Million in 2022, registering a CAGR of 3.7% during the forecast period (2023-2030), and the market is projected to be worth USD 1,054.7 Million by 2030.
Chloroacetic acid is a crystalline acid industrially referred to as monochloroacetic acid with molecular formula C2H3ClO2. The acid is a colorless light-brown crystalline material obtained by direct chlorination of acetic acid. Further, chloroacetic acid is soluble in water, combustible by nature, and has a corrosive effect on metals. Chloroacetic acid is broadly used in the organic synthesis of dyes, weed killers, coumarin, pharmaceuticals, cosmetics, and insecticides.
Moreover, chloroacetic acid is also used in the large-scale production of thickening agents including carboxymethyl cellulose and carboxymethyl starch which are used as food additives in all types of food products.
Chloroacetic Acid Report Coverage:
Request Sample
Market Dynamics:
Driver:
In the pharmaceutical industry, chloroacetic acid is used as an acidic topical medicine by podiatrists and dermatologists due to its strong keratolytic agent property. Further, it softens the skin and assists the exfoliation of skin cells. Chloroacetic acid is also used as a substitute for effectively treating persistent cutaneous warts and is used to treat dry skin conditions such as acne, psoriasis, corns, calluses, and other forms of keratosis. Moreover, the acid is widely used in the production of a variety of drugs, such as antibiotics, antiviral agents, and anesthetics particularly acetaminophen or analgesic paracetamol. For instance, as per the report published by Statista, the revenue in the analgesics segment amounted to USD 33.16 billion in 2023 and is projected to grow annually by 6.49% by 2027. Further, the U.S. generated the highest revenue of USD 7,161 million in 2023. Thus, the growing demand for analgesics is proliferating the demand for chloroacetic acid.
Restraint:
Repeated dermal exposure or acute inhalation of chloroacetic acid is likely to cause severe damage to the eyes, skin, mucous membranes, and respiratory tract damage to the central nervous system in humans. As a result, occupational exposure limits are formed on the use of chloroacetic acid. For instance, according to the harmonised classification and labelling (ATP01) approved by the European Union, chloroacetic acid is toxic when swallowed and causes harm to aquatic organisms. Hence, the above-mentioned regulations and safety concerns are likely to hinder market growth.
Opportunities:
The key factor likely to generate a high demand for chloroacetic acid is the rise in environmental concerns, plant diseases, and improvements in plant breeding, in the agricultural industry. For instance, according to the Food and Agriculture Organization Pests of the United Nations annually up to 40% of global crop production is hampered due to pests. Thus, the increasing need for crop protection worldwide is expected to fuel the market growth for the chloroacetic acid market over the forecast period.
Chloroacetic Acid Market Segmentation:
By Type
The type segment is categorized into dichloroacetic acid and trichloroacetic acid. In 2022, the dichloroacetic acid segment accounted for the largest market in the chloroacetic acid market. Dichloroacetic acid is an organochlorine compound that occurs naturally in seaweeds and is a highly corrosive, colorless liquid in nature with a pungent odor. Dichloroacetic acid is widely used as a fungicide, chemical intermediate, and as a medication. In the pharmaceutical industry, the salts of dichloroacetic acid are used broadly used as potential drugs as they inhibit the enzyme pyruvate dehydrogenase kinase. For instance, as per the report published by Statista, the total global pharmaceutical market amounted to USD 1.42 trillion in 2021 and increased to USD 1.48 trillion in 2022. The increasing growth of the pharmaceutical market is driving the demand for dichloroacetic acid.
However, the trichloroacetic acid segment is expected to grow at the fastest CAGR during the forecast period. Trichloroacetic acid is a colorless crystalline solid used in various applications including as a reagent in the organic synthesis of medicine, herbicides, and to detect albumin and in biochemistry to precipitate RNA, DNA, and proteins. Further, the acid is used also in microscopy as a fixative and decalcifier. Thus, the increasing adoption of trichloroacetic acid in medicines is anticipated to drive the segment growth.
By Application
The application segment is divided into chemical intermediates, alkylating agents, herbicide, bacteriostat, preservative, metal derivatives, and others. In 2022, herbicides accounted for the largest market share in the chloroacetic acid market. In the agriculture industry, chloroacetic acid is widely used for the manufacturing of herbicides including glyphosate and dimethoate. For instance, according to the report published by Statista, the global herbicides market amounted to be USD 39.4 billion in 2021 and forecasted to reach USD 48.9 billion in 2027. Hence, the growth of the herbicide market is driving the demand for chloroacetic acid.
However, alkylating agents are expected to be the fastest growing segment during the forecast period as chloroacetic acid is used to synthesize alkylating agents including nitrogen mustards that are widely used in the manufacturing of pharmaceuticals, agrochemicals, and other chemicals.
By End-Use Industry
The end-user segment is divided into personal care and pharmaceuticals, agrochemicals, geological drillings, the chemical industry, dyes and detergents, and others. In 2022, the agrochemicals segment accounted for the largest share of chloroacetic acid due to the widespread use of the substance in manufacturing herbicides and plant growth regulators for the protection of crops to generate higher yields. For instance, according to the report published by Statista, the agrochemical market worldwide amounted to USD 217.24 billion in 2021 and reached USD 279 billion in 2030. Hence, the increasing agrochemical market is driving the need for chloroacetic acid to improve crop protection and increase agricultural yield.
Moreover, the personal care and pharmaceutical segment is expected to register the fastest CAGR during the forecast period as chloroacetic acid is used in the production of various personal care products such as skin and hair care products, cosmetics, and toiletries. Thus, the increasing demand for the above-mentioned products is expected to proliferate the growth of the chloroacetic acid market.
By Region:
The region segment is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2022, Asia Pacific accounted for the largest market share in the chloroacetic acid market. The growth is attributed to the presence of a large number of chemical manufacturing facilities in the region and the growing demand from end-use industries including pharmaceuticals and agrochemicals to produce drugs and growth regulators respectively.
However, North America is expected to register the fastest CAGR over the forecast period due to increasing healthcare expenditure and the growing personal care and pharmaceutical industry. For instance, as per the report published by Statista, the revenue in the personal care segment is estimated to value USD 216.80 billion in 2023 and is projected to reach USD 312.30 billion by 2027. Therefore, the increasing growth of the personal care industry is driving the need for chloroacetic acid to manufacture various hair and skin products.
Chloroacetic Acid Competitive Landscape:
The chloroacetic acid market is highly competitive comprising numerous players operating in the industry. These players are constantly engaged in product development, innovation, and strategic partnerships and collaborations to expand their market presence. In addition, companies in chloroacetic acid are also focused on expanding their market presence through mergers and acquisitions, joint ventures, and strategic partnerships. This allows them to increase their market share and gain a competitive edge in the market. The key players in the market include-
• CABB Group GmbH
• PCC Group
• Denak Co. Ltd
• VWR International, LLC.
• Nouryon Chemicals Holding B.V.
• Merck KGaA
• Alfa Aesar (Thermo Fisher Scientific)
• TerraTech India Pvt. Ltd.
• IOL Chemicals & Pharmaceuticals Limited
• Meridian Chem Bond Pvt. Ltd.
Recent Developments
• In September 2022, Nouryon Chemicals Holding B.V. acquired ADOB Fertilizers to expand the product portfolio of the company and broaden the offerings for customers in the crop nutrition market.
• In December 2021, Merck KGaA signed an agreement to acquire the chemical business of Mecaro Co. Ltd. (Mecaro) to expand the scale, technology, and portfolio.
Chloroacetic acid market size was valued at USD 879.5 Million in 2022, registering a CAGR of 3.7% during the forecast period (2023-2030), and the market is projected to be worth USD 1,054.7 Million by 2030.
Chloroacetic acid is a crystalline acid industrially referred to as monochloroacetic acid with molecular formula C2H3ClO2. The acid is a colorless light-brown crystalline material obtained by direct chlorination of acetic acid. Further, chloroacetic acid is soluble in water, combustible by nature, and has a corrosive effect on metals. Chloroacetic acid is broadly used in the organic synthesis of dyes, weed killers, coumarin, pharmaceuticals, cosmetics, and insecticides.
Moreover, chloroacetic acid is also used in the large-scale production of thickening agents including carboxymethyl cellulose and carboxymethyl starch which are used as food additives in all types of food products.
Chloroacetic Acid Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 1,054.7 million |
| CAGR (2023-2030) | 3.7 % |
| Base Year | 2022 |
| By Type | Dichloroacetic Acid and Trichloroacetic Acid |
| By Application | Chemical Intermediate, Alkylating Agent, Herbicide, Bacteriostat, Preservative, Metal Derivatives, and Others |
| By End use industry | Personal Care and Pharmaceuticals, Agrochemicals, Geological Drillings, Chemical Industry, Dyes and Detergents, and Others |
| By Geography |
|
| Key Players | CABB Group GmbH, MCAA SE (PCC Rokita SA), Denak Co. Ltd, VWR International, LLC., Nouryon Chemicals Holding B.V., Merck KGaA, Alfa Aesar (Thermo Fisher Scientific), TerraTech India Pvt. Ltd., IOL Chemicals & Pharmaceuticals Limited, and Meridian Chem Bond Pvt. Ltd. |
Market Dynamics:
Driver:
In the pharmaceutical industry, chloroacetic acid is used as an acidic topical medicine by podiatrists and dermatologists due to its strong keratolytic agent property. Further, it softens the skin and assists the exfoliation of skin cells. Chloroacetic acid is also used as a substitute for effectively treating persistent cutaneous warts and is used to treat dry skin conditions such as acne, psoriasis, corns, calluses, and other forms of keratosis. Moreover, the acid is widely used in the production of a variety of drugs, such as antibiotics, antiviral agents, and anesthetics particularly acetaminophen or analgesic paracetamol. For instance, as per the report published by Statista, the revenue in the analgesics segment amounted to USD 33.16 billion in 2023 and is projected to grow annually by 6.49% by 2027. Further, the U.S. generated the highest revenue of USD 7,161 million in 2023. Thus, the growing demand for analgesics is proliferating the demand for chloroacetic acid.
Restraint:
Repeated dermal exposure or acute inhalation of chloroacetic acid is likely to cause severe damage to the eyes, skin, mucous membranes, and respiratory tract damage to the central nervous system in humans. As a result, occupational exposure limits are formed on the use of chloroacetic acid. For instance, according to the harmonised classification and labelling (ATP01) approved by the European Union, chloroacetic acid is toxic when swallowed and causes harm to aquatic organisms. Hence, the above-mentioned regulations and safety concerns are likely to hinder market growth.
Opportunities:
The key factor likely to generate a high demand for chloroacetic acid is the rise in environmental concerns, plant diseases, and improvements in plant breeding, in the agricultural industry. For instance, according to the Food and Agriculture Organization Pests of the United Nations annually up to 40% of global crop production is hampered due to pests. Thus, the increasing need for crop protection worldwide is expected to fuel the market growth for the chloroacetic acid market over the forecast period.
Chloroacetic Acid Market Segmentation:
By Type
The type segment is categorized into dichloroacetic acid and trichloroacetic acid. In 2022, the dichloroacetic acid segment accounted for the largest market in the chloroacetic acid market. Dichloroacetic acid is an organochlorine compound that occurs naturally in seaweeds and is a highly corrosive, colorless liquid in nature with a pungent odor. Dichloroacetic acid is widely used as a fungicide, chemical intermediate, and as a medication. In the pharmaceutical industry, the salts of dichloroacetic acid are used broadly used as potential drugs as they inhibit the enzyme pyruvate dehydrogenase kinase. For instance, as per the report published by Statista, the total global pharmaceutical market amounted to USD 1.42 trillion in 2021 and increased to USD 1.48 trillion in 2022. The increasing growth of the pharmaceutical market is driving the demand for dichloroacetic acid.
However, the trichloroacetic acid segment is expected to grow at the fastest CAGR during the forecast period. Trichloroacetic acid is a colorless crystalline solid used in various applications including as a reagent in the organic synthesis of medicine, herbicides, and to detect albumin and in biochemistry to precipitate RNA, DNA, and proteins. Further, the acid is used also in microscopy as a fixative and decalcifier. Thus, the increasing adoption of trichloroacetic acid in medicines is anticipated to drive the segment growth.
By Application
The application segment is divided into chemical intermediates, alkylating agents, herbicide, bacteriostat, preservative, metal derivatives, and others. In 2022, herbicides accounted for the largest market share in the chloroacetic acid market. In the agriculture industry, chloroacetic acid is widely used for the manufacturing of herbicides including glyphosate and dimethoate. For instance, according to the report published by Statista, the global herbicides market amounted to be USD 39.4 billion in 2021 and forecasted to reach USD 48.9 billion in 2027. Hence, the growth of the herbicide market is driving the demand for chloroacetic acid.
However, alkylating agents are expected to be the fastest growing segment during the forecast period as chloroacetic acid is used to synthesize alkylating agents including nitrogen mustards that are widely used in the manufacturing of pharmaceuticals, agrochemicals, and other chemicals.
By End-Use Industry
The end-user segment is divided into personal care and pharmaceuticals, agrochemicals, geological drillings, the chemical industry, dyes and detergents, and others. In 2022, the agrochemicals segment accounted for the largest share of chloroacetic acid due to the widespread use of the substance in manufacturing herbicides and plant growth regulators for the protection of crops to generate higher yields. For instance, according to the report published by Statista, the agrochemical market worldwide amounted to USD 217.24 billion in 2021 and reached USD 279 billion in 2030. Hence, the increasing agrochemical market is driving the need for chloroacetic acid to improve crop protection and increase agricultural yield.
Moreover, the personal care and pharmaceutical segment is expected to register the fastest CAGR during the forecast period as chloroacetic acid is used in the production of various personal care products such as skin and hair care products, cosmetics, and toiletries. Thus, the increasing demand for the above-mentioned products is expected to proliferate the growth of the chloroacetic acid market.
By Region:
The region segment is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2022, Asia Pacific accounted for the largest market share in the chloroacetic acid market. The growth is attributed to the presence of a large number of chemical manufacturing facilities in the region and the growing demand from end-use industries including pharmaceuticals and agrochemicals to produce drugs and growth regulators respectively.
However, North America is expected to register the fastest CAGR over the forecast period due to increasing healthcare expenditure and the growing personal care and pharmaceutical industry. For instance, as per the report published by Statista, the revenue in the personal care segment is estimated to value USD 216.80 billion in 2023 and is projected to reach USD 312.30 billion by 2027. Therefore, the increasing growth of the personal care industry is driving the need for chloroacetic acid to manufacture various hair and skin products.
Chloroacetic Acid Competitive Landscape:
The chloroacetic acid market is highly competitive comprising numerous players operating in the industry. These players are constantly engaged in product development, innovation, and strategic partnerships and collaborations to expand their market presence. In addition, companies in chloroacetic acid are also focused on expanding their market presence through mergers and acquisitions, joint ventures, and strategic partnerships. This allows them to increase their market share and gain a competitive edge in the market. The key players in the market include-
• CABB Group GmbH
• PCC Group
• Denak Co. Ltd
• VWR International, LLC.
• Nouryon Chemicals Holding B.V.
• Merck KGaA
• Alfa Aesar (Thermo Fisher Scientific)
• TerraTech India Pvt. Ltd.
• IOL Chemicals & Pharmaceuticals Limited
• Meridian Chem Bond Pvt. Ltd.
Recent Developments
• In September 2022, Nouryon Chemicals Holding B.V. acquired ADOB Fertilizers to expand the product portfolio of the company and broaden the offerings for customers in the crop nutrition market.
• In December 2021, Merck KGaA signed an agreement to acquire the chemical business of Mecaro Co. Ltd. (Mecaro) to expand the scale, technology, and portfolio.
| Enskild användare | : $3860 |
|---|---|
| Fleranvändare | : $5460 |
| Företags | : $7460 |
Köp nu
Säkert SSL-krypterat
Why Choose Us
Guaranteed Success
We gather and analyze industry information to generate reports enriched with market data and consumer research that leads you to success.
Gain Instant Access
Without further ado, choose us and get instant access to crucial information to help you make the right decisions.
Best Estimation
We provide accurate research data with comparatively best prices in the market.
Discover Opportunities
With our solutions, you can discover the opportunities and challenges that will come your way in your market domain.
Best Service Assured
Buy reports from our executives that best suits your need and helps you stay ahead of the competition.
Customer Testimonials
Reports Insights have understood our exact need and Delivered a solution for our requirements. Our experience with them has been fantastic.
MITSUI KINZOKU, Project Manager
I am completely satisfied with the information given in the report. Report Insights is a value driven company just like us.
Privacy requested, Managing Director
Report of Reports Insight has given us the ability to compete with our competitors, every dollar we spend with Reports Insights is worth every penny Reports Insights have given us a robust solution.
Privacy requested, Development Manager
❮
❯
| Enskild användare | : $3860 |
|---|---|
| Fleranvändare | : $5460 |
| Företags | : $7460 |
Köp nu
Säkert SSL-krypterat