How big is the Monochloroacetic Acid Market?

The Monochloroacetic Acid Market size is expected to reach 580.28 kilotons in 2024 and grow at a CAGR of greater than 4.20% to reach 713.84 kilotons by 2029. Read More

What is the current Monochloroacetic Acid Market size?

In 2024, the Monochloroacetic Acid Market size is expected to reach 580.28 kilotons. Read More

Who are the key players in Monochloroacetic Acid Market?

Nouryon, Merck KGaA, PCC Group, Alfa Aesar and Akzo Nobel N.V. are the major companies operating in the Monochloroacetic Acid Market. Read More

Which is the fastest growing region in Monochloroacetic Acid Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Monochloroacetic Acid Market?

In 2024, the Asia Pacific accounts for the largest market share in Monochloroacetic Acid Market. Read More

What years does this Monochloroacetic Acid Market cover, and what was the market size in 2023?

In 2023, the Monochloroacetic Acid Market size was estimated at 555.91 kilotons. The report covers the Monochloroacetic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Monochloroacetic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Monochloroacetic Acid Market Trends

Market Trends of Monochloroacetic Acid Industry

Increasing Demand from Personal Care and Pharmaceuticals Industries

Monochloroacetic acid (MCA) is a pivotal component in the personal care and cosmetic industry. It is primarily utilized in the production of betaines, which are amphoteric surfactants. These betaines, known for their foaming properties, find extensive use in hair shampoos.
Thioglycolic acid (TGA or mercaptoacetic acid), another derivative of MCA, is crucial in permanent hair styling formulations. It's not just limited to hair styling; thioglycolic acid and its derivatives are integral in the production of various hair care products, including shampoos, conditioners, and hair masks.
According to the data from the National Institute of Statistics and Geography (INEGI), in December 2023, Mexico's production volume for shampoos, conditioners, and hair rinses hit 46.31 million units, marking a 5.2% increase from 44.02 million units in December 2022.
INEGI's survey also highlights that the monthly sales volume of shampoos and conditioners in Mexico stood at 46.25 million units in December 2023, showing a modest 4.6% uptick from the previous year.
Additionally, rising disposable incomes, increasing beauty product awareness, evolving consumption patterns, and the changing retail landscape in countries like India, Thailand, and Vietnam, influenced by globalization, are set to drive the demand for personal care products, subsequently boosting the demand for MCA.
As per Statistics Canada, cosmetics and fragrance sales in Canada reached approximately CAD 1.86 billion (~USD 1.38 billion) in the third quarter of 2023. Moreover, according to the International Trade Administration and the US Department of Commerce, the industry revenue for the cosmetics market in Canada is expected to grow by 1.45% annually to reach USD 1.8 billion by 2024. This resurgence in Canada's beauty and personal care industry presents a lucrative opportunity for US cosmetic exporters.
Besides its role in personal care, MCA finds significant use in pharmaceuticals, contributing to the production of various medications, including ibuprofen/brufen, diclofenac sodium, caffeine, vitamins (e.g., vitamin B), glycine, N-(P-hydroxyphenyl)-glycine (METOL), and maleates.
As per the India Brand Equity Foundation (IBEF), India stands as the world's third-largest pharmaceutical market by volume and the fourteenth by value, owing to its rich raw material resources and skilled workforce.
Given the rising demand in both the personal care and pharmaceutical sectors, the demand for monochloroacetic acid is expected to surge during the forecast period.

Monochloroacetic Acid Market - Number of Shampoos, Conditioners, and Hair rinses Produced, In million units, Mexico, 2018-2023

Understand The Key Trends Shaping This Market

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Asia-Pacific to Dominate the Market

With rising demands from key sectors like personal care, pharmaceuticals, and agrochemicals, Asia-Pacific has firmly established its dominance in the global market share.
China and India have seen a notable uptick in demand for monochloroacetic acid (MCA) in recent years. This surge is predominantly attributed to escalating needs within the personal care and pharmaceutical industries.
As per data from the National Bureau of Statistics of China, in 2023, China's cosmetic retail sales reached approximately CNY 414.17 billion (~USD 58.42 billion), marking a modest 5.2% uptick from the previous year.
The increasing concerns for hygiene and cleanliness have led to the growth in demand for personal care products, detergents, and washing soaps. This is likely to boost the demand for MCA, owing to its requirement in the production of these personal care products.
According to the data from the Ministry of Economy Trade and Industry (METI), Japan's hair shampoo sales were valued at JPY 80.89 billion (~USD 0.57 billion) in 2023, reflecting a 6.6% dip from the year before.
With burgeoning populations in China and India, the personal care and pharmaceutical sectors in Asia-Pacific are on a notable upswing.
As per IBEF, the Indian pharmaceutical market witnessed a 5% Y-o-Y growth in FY23, reaching USD 49.78 billion. Notably, pharmaceuticals rank among the top ten sectors that are drawing foreign investments in India. India's pharmaceutical exports span over 200 countries, encompassing stringent markets like the United States, Western Europe, Japan, and Australia. Specifically, exports of drugs and pharmaceuticals climbed by 7.36%, from USD 2.26 billion in April 2023 to USD 2.43 billion in April 2024.
Therefore, considering the aforementioned factors, the demand for monochloroacetic acid is expected to witness a rapid increase in Asia-Pacific during the forecast period.