The Indonesia monochloroacetic acid (MCA) market exhibits promising growth prospects driven by the escalating demand for MCA as a crucial raw material in various industries. The widespread use of MCA in producing carboxymethyl cellulose (CMC), herbicides, agrochemicals, and surfactants propels market expansion. To sustain growth, industry players must navigate these challenges and capitalize on the rising demand for MCA driven by Indonesia's growing economy and expanding industrial sectors.
According to Data Bridge Market Research, the Indonesia Monochloroacetic Acid (MCA) Market is growing at a CAGR of 3.7% in the forecast period of 2022 to 2029 and is expected to reach USD 12,918.47 thousand by 2029.
“Escalating demand for MCA as a crucial raw material in various industries facilitate market growth”
Favorable government policies and investments play a significant role as a driver of the Indonesia monochloroacetic acid (MCA) market. Government support and incentives for industries that utilize MCA as a raw material create a conducive business environment, attracting investments and promoting the expansion of MCA-related applications. Additionally, government initiatives to promote sustainable and environment-friendly solutions further boost the demand for MCA, considering its wide applications in various sectors. These policies and investments provide a strong foundation for the growth of the MCA market in Indonesia, encouraging its adoption across diverse industries and driving market expansion.
What restraints the growth of Indonesia monochloroacetic acid (MCA) market?
“Fluctuations in the cost of acetic acid and other feedstock chemicals”
Fluctuations in the cost of acetic acid and other feedstock chemicals act as a significant restraint on the Indonesia monochloroacetic acid (MCA) market. The production of MCA involves the chlorination of acetic acid, and any price volatility in acetic acid and other feedstock chemicals directly impacts the overall production cost of MCA. Sudden price changes can lead to uncertainty in production planning, affecting the profitability of manufacturers. Market players in the MCA industry face challenges in managing and predicting these cost fluctuations, which can hinder investment decisions and long-term growth prospects in the Indonesian MCA market.
Segmentation: Indonesia Monochloroacetic Acid (MCA) Market
Indonesia monochloroacetic acid (MCA) market is segmented into four notable segments which are based on the product, process, application, and end-use.
- On the basis of product, the Indonesia monochloroacetic acid (MCA) market is segmented into powder, liquid, and pellets.
- On the basis of process, the Indonesia monochloroacetic acid (MCA) market is segmented into chlorination and hydrolysis.
- On the basis of application, the Indonesia monochloroacetic acid (MCA) market is segmented into glycine, cellulose, surfactants, 4,2,4- dichloro phenoxy acetic acid, thioglycol acid and others.
- On the basis of end-user, the Indonesia monochloroacetic acid (MCA) market is segmented into personal care, pharmaceuticals, agrochemicals, geological drilling, dyes and detergents, and others.
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Recent Developments in Indonesia Monochloroacetic Acid (MCA) Market
- In March 2021, Merck partnered with the Faculty of Mathematics and Natural Sciences, Universitas Indonesia (FMIPA-UI) to establish the first Laboratory in Indonesia. This collaboration aims to advance life science research and innovation development, bolstering Merck's R&D initiatives in the region.
- In October 2021, Daicel Corporation and National Tsing Hua University, Taiwan, joined forces to develop a Revolutionary Desktop Chemical Plant. This strategic partnership enhances Daicel's chemical production capabilities in the region, fostering innovation and technological advancement.
- In June 2021, Kerry Group plc announced the acquisition of Niacet Corp (Hare Topco, Inc.). Integrating Niacet's capabilities intensifies Kerry's food protection and preservation strategy, enabling the company to offer new products and technologies to a broader market.
The Prominent Key Players Operating in the Indonesia Monochloroacetic Acid (MCA) Market Include:
- PCC SE (Germany)
- Henan Hongdong Chemical Co., Ltd. (China)
- Nouryon - (Netherlands)
- CABB Group GmbH (Germany)
- PT Merck Tbk (Indonesia)
- Daicel Corporation (Japan)
- Pinnacle (United States)
- Niacet - A Kerry Company (U.S.)
- Jubilant Pharmova Limited (India)
- Shandong Minji Chemical Co. Ltd. (China)
Above are the key players covered in the report, to know about more an exhaustive list of Indonesia monochloroacetic acid (MCA) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Indonesia Monochloroacetic Acid (MCA) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
