The new report by Expert Market Research titled, 'Global Sodium Monochloro Acetate Market Report and Forecast 2021-2026', gives an in-depth analysis of the global sodium monochloro acetate market, assessing the market based on its segments like grades, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 220 Billion (Global Agrochemicals Market)
- Forecast CAGR (2021-2026): 5% (Global Agrochemicals Market)
The market growth of sodium monochloro acetate is being aided by the rising demand for it in the pharmaceuticals industry. The high reactivity of carbon and chlorine bond makes it ideal in the manufacturing of various drugs. It is employed as a raw material in the production of glycine that is used in various drugs to improve gastric absorption of pharmaceutical-grade products. Moreover, various research to use glycine as a cure for chronic diseases is increasing the demand for sodium monochloro acetate, which is bolstering the market growth. The growing deployment of sodium monochloro acetate in the production of synthetic caffeine, vitamins, malonates, and barbiturates, among others, further propelling the market growth.
Industry Definition and Major Segments
Sodium monochloro acetate is a chemical that is produced by neutralising monochloro acetic acid with alkali. As it has strong carbon and chlorine bonds, it is used as an intermediatory material in the manufacturing of drugs, chemicals, surfactants, and dyes, among others.
Based on grade, the market is divided into:
- Technical Grade
- Pharmaceutical Grade
On the basis of end uses, the industry is categorised into:
The major regional markets of sodium monochloro acetate are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The growth of the sodium monochloro acetate industry is expected to be driven by the rising use of agrochemicals owing to the growing food demand among the global population. The growing demand for crop protection agents for high yield crops in smaller arable land is significantly contributing to the market growth. The increasing use of 2,4-dichlorophenoxyacetic acid as a substitute for hazardous Agent Orange is surging the use of sodium monochloro acetate is anticipated to fuel the market growth. In addition, the trend of precision agriculture and the growing demand for cost-effective and biodegradable raw materials is providing further impetus to the market growth.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Key Market Players
The major players in the market are CABB Group GmbH, Archit Organosys Ltd., Nouryon, Jubilant Ingrevia Limited, and Denak Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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