The new report by Expert Market Research titled, ‘India Sodium Monochloro Acetate Market Report and Forecast 2022-2027’, gives an in-depth analysis of the India Sodium Monochloro Acetate Market, assessing the market based on its segments like grades, end-use, and 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.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 4.9 Billion
- Forecast CAGR (2022-2027): 8.6%
- Forecast Market Size (2027): USD 8.0 Billion
In India, the agriculture industry is assisting in the expansion of the sodium monochloro acetate (SMCA) market. Due to the shrinking arable land because of growing urbanisation and the population explosion, new agricultural innovations are being developed to boost crop output and meet food demands. Furthermore, growing advances in precision farming and integrated pest management (IPM) are driving up demand for agrochemicals made from sodium monochloro acetate (SMCA). The use of sodium monochloro acetate (SMCA) in the production of 2,4-dichlorophenoxyacetic acid, a herbicide used to regulate crops and prevent pest attacks in a variety of applications such as forestry sites, aquatic sites, vegetable and food crops, and lawns, is propelling the industry’s growth in India.
Industry Definition and Major Segments
Sodium monochloro acetate (SMCA) is a granular substance that is commonly available. It is the soluble in water sodium salt of chloroacetic acid. Because it is deadly if consumed or inhaled, it is widely employed in insecticides and herbicides to prevent pest assaults. It’s also utilised as a starting ingredient in the production of a variety of compounds.
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On the basis of grades, the market is segmented into:
- Technical Grade
- Pharmaceutical Grade
- Others
On the basis of end-use, the market is divided into:
- Agrochemical
- Chemical
- Pharmaceutical
- Textile
- Others
On the basis of region, the market is segmented into:
- North India
- South India
- West India
- East India
Market Trends
The sodium monochloro acetate (SMCA) industry is benefiting from India’s strong chemical sector. The country is the third-largest consumer of polymers, the sixth-largest producer of chemicals, and the fourth-largest producer of agrochemicals, according to the India Brand Equity Foundation (IBEF). Sodium monochloro acetate (SMCA) is widely used as a raw material in these industries, which is driving market expansion. Furthermore, different chemicals made by sodium monochloro acetate (SMCA) are used by the flourishing paint and coating business, as well as the cosmetics and personal care industries, which is fueling industrial expansion. Furthermore, the growing demand for specialty chemicals from multinational corporations seeking high-quality, cost-effective chemicals to lessen their dependency on China is driving up demand for sodium monochloro acetate (SMCA) in a variety of applications. The market is predicted to grow faster because of this. The thriving pharmaceuticals industry in India, as well as the presence of major pharmaceutical corporations, is driving up demand for various chemicals such as glycolic acid, which is driving up demand for sodium monochloro acetate (SMCA), and therefore adding to the industry’s growth.
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Key Market Players
The major players in the market are Archit Organosys Ltd., Jubilant Ingrevia Limited, and 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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