Monochloroacetic Acid Market: Rising Demand from Oil and Gas Industries Substantiates Robust Growth

Published on : Jun 03, 2019

Monochloracetitic acid tends to be used in the manufacture of many other essential organic chemicals, such as ibuprofen, carboxymethyl cellulose, glycine, caffeine, glycolic acid or EDTA. The staggering number of monochloracetic acid’s essential derivatives has made it popular in an array of applications such as cosmetics, drugs, pesticides and dyes. As such, burgeoning population, less arable land and growing need for agriculture products are expected to fare well for the outlook of monochloracetic acid market.

These actionable insights are according to the intelligence report, titled, “Monochloracetic Acid Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027,” which has been of late incorporated in Market Research Hub’s (MRH) exhaustive repository.

Oil and gas industries have been using monochloracetic acid for drilling purpose that demand carboxy methyl cellulose galore. Nevertheless, exponential drilling activities in offshore rigs and land have spiked. According to the study, more than 30 % of the monochloracetic acid plays instrumental role in the production of carboxy methyl cellulose as the latter is used as a viscosifier for drilling of boreholes aimed at extracting oil and gas. Accordingly, upsurge in the usage of carboxy methyl cellulose for oil and drilling activities is expected to have positive influence in the growth of monochloracetic acid market.

There has been rising demand emanating from pharmaceutical industry where monochloroacetic acid is used for the production of ibuprofen, maleanates, dichlophenac sodium and vitamins, namely. Monochloroacetic acid has been instrumental for the treatment of skin lesions, atherosclerosis and veruccae.

APAC and Europe dominated the monochloroacetic acid market with China logging over half of the global share of monochloracetic acid market, while Europe witnessed exponential use of the acid in the manufacture of carboxy methyl cellulose. Meanwhile, North America is expected to observe a stable growth during the assessment period.

Monochloroacetic Acid Market: Report Content

Qualitative and quantitative analysis substantiate the intelligence report on the monochloroacetic acid market. The report thoroughly delineates the facets in the market that are expected to have the bearing on the development of the monochloroacetic acid market, including drivers, restraints, trends, and opportunities. In addition, the report also sheds light on segregation of the market that aims at providing an exhaustive analysis on monochloroacetic acid.

Furthermore, the report offers deep-dive analysis on executive summary and overview section, which elucidate assessment on the monochloroacetic acid market. Besides, the overview section sheds light on pricing analysis, value chain analysis, supply chain analysis and PESTLE analysis to limn monochloroacetic acid market exhaustively.

On the other hand, the report delves into benchmarking to analyze the performance of the products and business processes and shed light on the performances of competitor companies both inside and outside the industry in quest for superior performance.

The dynamic analysis of the competitive scenario of the monochloroacetic acid market counts on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers deep dive analysis on the potential strategies of the leading players in the monochloroacetic acid market. Further, the business strategies banks on company profile, product portfolio, SWOT analysis, recent development and key differentiation.

Monochloroacetic Acid Market: Research Methodology

The report on monochloroacetic acid market hinges upon primary sources and secondary sources, which offer in-depth insights and assessments. Furthermore, the report is rest upon authentic and unbiased sources. The report relies upon primary research propelled by veracious and honest analysis from experts, telephonic interview and deep-dive analysis from seasoned analyst, and surveys. Meanwhile, the secondary research includes Factiva, EC filing, press release, governmental websites, resourceful database, and trade journals.

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