CHLOROACETIC ACID MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

Chloroacetic acid is a synthetic organic intermediate used as an acidic derivative such as salt, acyl chloride, ester, hydrazide, anhydride, and amide due to the high reactivity of the carboxylic acid group and substitution of the direct interaction of a Chlorine atom. The global chloroacetic acid market is expected to exhibit significant growth over the forecast period, owing to increasing demand for chloroacetic acid for the production of glycine. The amination of chloroacetic acid with ammonia produces glycine and glycine is used as a buffering agent in antacids, analgesics, antiperspirants, and toiletries.

Growing application of this chemical in end-use industries such as healthcare, petrochemical, textiles, and personal care is expected to be a promising factor for the market.

Increasing use of the chloroacetic acid and its derivatives in tin stabilizers for processing polyvinyl chloride, in oil field applications and surfactants, is expected to be a favorable factor. In addition, it constitutes industrial applications for manufacturing cellulose ethers, herbicides, and thioglycolic acid.

Market Restraints

However, government regulations on chloroacetic acid is a major factor restraining the growth of the global chloroacetic acid market. For instance, according to the harmonized classification and labeling (ATP01) approved by the European Union in 2020, chloroacetic acid is toxic if swallowed or exposed to the skin. Also, it causes severe skin burns and eye damage if inhaled. Furthermore, the classification provided by companies to the European Chemicals Agency (ECHA) in Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) registrations helped to identify that chloroacetic acid is toxic to aquatic life with long-lasting effects and may be corrosive to metals.

• Government regulations on chloroacetic acid