The global chloroacetic acid market was valued at US$ 1,403.2 Million in 2017, according to Chloroacetic Acid Market Report, by Product Type (Monochloroacetic Acid and Trichloroacetic Acid) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).
The global chloroacetic acid market is projected to reach US$ 2,654.1 Million by 2026, exhibiting a CAGR of 6.87% during the forecast period. Chloroacetic acid is used for manufacturing of raw materials including cyanoacetic ester for purines, vitamin B6, phenoxyacetic acid for penicillin, chloroacetylchloride for pharmaceutical and agrochemical, glycine for pet food, flavoring agents, and pharmaceutical for soluble aspirin. Chloroacetic acid is a synthetic organic intermediate used as an acidic derivative such as salt, acyl chloride, ester, hydrazide, anhydride, and amide due to high reactivity of the carboxylic acid group and substitution of the direct interaction of a Cl atom. Trichloroacetic acid is used to treat skin problems such as acne, wrinkles, rough skin, and sun-damaged facial skin, crow’s feet around the eyes, age spot, chicken pox, superficial scars, and some cancerous growth of the skin cancer. A trichloroacetic acid (TCA) chemical peel removes top layer of the skin to stimulate the natural growth, produce collagen, and elastin for giving clear and bright glow to the skin. Acute inhalation of chloroacetic acid may irritate or damage skin, eyes, respiratory tract, and mucous membrane. However, EPA has not classified chloroacetic acid for potential carcinogenicity.
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Browse 21 market data tables* and 44 figures* on "Chloroacetic Acid Market” - Global forecast to 2026.
Key Trends and Analysis of the Global Chloroacetic Acid Market:
Monochloroacetic acid (MCA) is used for the production of surfactants such as mild betaine amphoteric surfactants and thioglycolic acid. Thus, thioglycolic acid and its derivatives are used as additives in the production of cosmetics including hair cosmetics. For instance, according to the U.S. Department of Commerce’s International Trade Administration, Mexico cosmetics industry market was valued at US$ 6.97 billion in 2016 and it is expected to reach US$ 7.39 billion in 2018. In Mexico, demand for hair cosmetics is increasing due to increasing adoption of grooming products by men.
Key Takeaways of the Market: