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AkzoNobel and Atul plan to enter into MCA manufacturing joint venture in India

India: AkzoNobel has signed a letter of intent (LOI) along with Atul Ltd., a privately owned company involved in the manufacturing of crop protection chemicals, to explore the feasibility for installation of monochloroacetic acid (MCA) manufacturing facility in Gujarat, India, which is subject to the regulatory approvals. Manufacturing of MCA would utilize Atul’s chlorine and hydrogen and AkzoNoble's latest eco-friendly hydrogenation technology. MCA, used as a raw material for the manufacturing of crop protection and other chemicals, is used in agrochemicals, adhesives, pharmaceuticals, thermo stabilizers, surfactants and cosmetics along with its use for the production of thickening agents for the food, oil, mining, personal care and detergent industries.

TechSci Research depicts that this MCA manufacturing joint venture would fulfil Atul’s captive demand for MCA, which would aid the expansion of its crop protection chemicals market. Moreover, it would strengthen AkzoNobel's position in the Indian MCA market.

According to the recent report published by TechSci Research, “Global Water Soluble Fertilizers Market By Type, By Composition, By Grade, By Structure, By Application, By Crop, By Region, By Sales Channel, Competition Forecast and Opportunities, 2011-2021”, the global market for water soluble fertilizers is projected to grow at a CAGR of more than 5% over the next five years, on account of growing demand for food grains, depleting water levels, shrinking availability of arable land, coupled with high efficiency and ease of usage of water soluble fertilizers as compared to conventional chemical fertilizers.

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Growing demand of technical textiles and rapid urbanization are factors driving the Global Textile Chemicals Market in the forecast period 2024-2028.

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