The new report by Expert Market Research titled, ‘India Sodium Monochloro Acetate Market Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the India sodium monochloro acetate (SMCA) market, assessing the market based on its segments like grades, end uses, and major 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 (2018-2028)
- Historical Market Size (2020): USD 4.5 Billion (India Agrochemical Market)
- Forecast CAGR (2023-2028): 8.6% (India Agrochemical Market)
- Forecast Market Size (2026): USD 7.4 Billion (India Agrochemical Market)
The market for sodium monochloro acetate (SMCA) in India is being aided by the robust growth of the agricultural sector and the rising demand for high crop yield owing to the surge of population. The trend of precision agriculture is increasing the use of various chemicals in which sodium monochloro acetate (SMCA) is used as a raw material. It is used in the manufacturing of 2,4-dichlorophenoxyacetic acid which is employed in various applications like forestry sites, aquatic sites, vegetable and food crops, and lawns, to regulate crops and prevent pests attacks. The introduction of various government initiatives to increase domestic production of agrochemicals in the country is fuelling the industry growth.
India Sodium Monochloro Acetate Industry Definition and Major Segments
Sodium monochloro acetate (SMCA) refers to the sodium salt of chloroacetic acid that is typically white granules in its form. It is an important chemical which is used in end uses in various industries. It is used as a raw material for various products such as adhesives, agrochemicals, and carboxymethyl cellulose, among others.
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The market can be categorised on the basis of its grade into:
- Technical Grade
- Pharmaceutical Grade
The major end uses of sodium monochloro acetate (SMCA) are:
Based on major regions, the industry is segmented into:
- North India
- South India
- East India
- West India
India Sodium Monochloro Acetate Market Trends
The sodium monochloro acetate (SMCA) industry in India is being driven by its extensive end-uses in various industries. It is used in the manufacture of numerous chemicals and speciality chemicals, the demand for which is booming in the country due to rapid industrialisation. Moreover, the expansion of the pharmaceuticals industry is increasing the demand for sodium monochloro acetate (SMCA) which is anticipated to aid the market growth.
The extensive use of sodium monochloro acetate (SMCA) in the paints and coating industry as a raw material is projected to drive the market growth. In addition, the growing demand for chemicals such as glycolic acid in various industries, including cosmetics and personal care, is providing further impetus to the growth of the sodium monochloro acetate (SMCA) industry.
Key Market Players
The major players in the market are Archit Organosys Ltd. And Jubilant Ingrevia Limited, among 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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