Global Sodium Monochloro Acetate Market Report and Forecast 2024-2032

Global Sodium Monochloro Acetate Market Outlook

The global sodium monochloro acetate market is aided by the rising global agrochemicals market, which attained USD 254.68 billion in 2023. The global agrochemicals market is expected to grow in the forecast period of 2024-2032 at a CAGR of 5%.

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Extensive Use of Sodium Monochloro Acetate in the Pharmaceuticals Industry Boosting the Market Growth

The robust growth of the pharmaceuticals industry owing to the surge in various health-related issues is aiding the growth of the sodium monochloro acetate industry. It is used in the manufacturing of some extensively used drugs, which is propelling the market growth. Sodium monochloro acetate is employed as a raw material in the production of glycine, which is used in various drugs to improve gastric absorption of pharmaceutical-grade products. Moreover, increasing research on glycine as a cure for schizophrenia and cancer owing to its favourable properties is surging its usage.

This is consequently surging the demand for sodium monochloro acetate, hence aiding the market growth. In addition, sodium monochloro acetate plays a significant role in manufacturing malonates, which are extensively employed as a drug intermediate in the pharmaceutical industry. Furthermore, the high reactivity between the carbon and chlorine bond makes it ideal to be used in drug manufacturing of synthetic caffeine, vitamins, and barbiturates, among others, which is providing further impetus to the market growth.

Sodium Monochloro Acetate: Market Segmentation

Sodium monochloro acetate refers to the sodium salt of chloroacetic acid that is manufactured by neutralising the acid with alkali. It is usually available in white powder form and has a pungent odour. It is soluble in water and is used as a raw material for the production of various chemicals, drugs, and surfactants, among others.

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The major grades of sodium monochloro acetate are:

• Technical Grade
• Pharmaceutical Grade
• Others

The market can be broadly categorised on the basis of its end uses into:

• Agrochemical
• Chemical
• Pharmaceutical
• Others

The EMR report looks into the regional markets of sodium monochloro acetate like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Agrochemicals to Bolster the Growth of the Sodium Monochloro Acetate Industry

The extensive use of agrochemicals in the agricultural industry owing to the exponential rise in population and reducing arable land is propelling the market growth. It is used in the production of 2,4-dichlorophenoxyacetic acid, which is extensively employed as a herbicide in the agriculture industry. It is used in various applications such as forestry sites, aquatic sites, and crop fields, which is consequently propelling the industry growth. Furthermore, the use of 2,4-dichlorophenoxyacetic acid as a substitute for hazardous Agent Orange that can lead to cancer, is anticipated to augment the growth of the sodium monochloro acetate industry.  Apart from this, the extensive use of dimethoate, which uses sodium monochloro acetate in its production in several agricultural applications, is projected to fuel the market growth. Moreover, the growing demand for toxin-free crop protection agents is surging the use of sodium monochloro acetate, which is estimated to invigorate the industry growth.

Key Industry Players in the Global Sodium Monochloro Acetate Market

The report presents a detailed analysis of the following key players in the global sodium monochloro acetate market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• CABB Group GmbH
• Archit Organosys Ltd.
• Nouryon
• Jubilant Ingrevia Limited
• Denak Co., Ltd.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report