Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Hydrochloric Acid Market by Grade (Synthetic, By-product), Application, End-use industry (Food & Beverage, Pharmaceutical, Textile, Steel, Oil & Gas, Chemical), Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The hydrochloric acid market is projected to grow from USD 2.5 Billion in 2022 to USD 3.4 Billion by 2027, at a CAGR of 6.6% during the forecast period. Hydrochloric acid is utilized in production of organic & inorganic compounds, PVC (polyvinyl chloride), steel pickling, food processing, and others.
Steady growth in steel and food & beverage industry, is expected to further propel the demand for hydrochloric acid, during the forecast period. However, hydrochloric acid is highly volatile and corrosive; therefore, many governments have imposed regulations regarding the impact on environmental pollution and storage & transport of hydrochloric acid, which restrains the market.
By Grade, by-product is largest market for hydrochloric acid during forecast period
By-product grade accounts for largest market share for hydrochloric acid. By-product is primarily used in the mining sector for ore extraction, the production of biofuels, oils, and lubricants, as well as refinement procedures. Hydrochloric acid is used in metalworking for pickling steel, aluminum, titanium, and magnesium and to clean metal surfaces during galvanizing processes.
By Application, Steel Pickling account for larger share during forecast period
Steel pickling is account for largest market share by application for hydrochloric acid market. Hydrochloric acid is used in pickling operations for carbon, alloy, and stainless steel. Steel pickling is the process by which iron oxides and scale are removed from the surface of steel by converting the oxides to soluble compounds. Pickling is required for steel products that undergo further processing, such as wire production, coating of sheets and strips, and tin mill products. Hydrochloric acid is used primarily for continuous pickling operations in which hot-rolled strip steel passes through a counter-current flow of acid solution. Hydrochloric acid is used in aluminum etching, metal prefixing for galvanizing and soldering, and metal cleaning.
Asia Pacific account for largest share by region in hydrochloric acid market
APAC is to be the world's largest and fastest-growing market during the forecast period. The growth was led by rapidly growing economies such as India and China and emerging Southeast Asian countries such as Thailand and Indonesia.
Increasing government spending on infrastructure activities and rapid industrialization and the growing demand from end-use industries such as steel, chemicals, oil & gas, and food & beverage in these countries are significant drivers of the hydrochloric acid market.
Market Dynamics
Drivers
- Increased Demand for Water & Wastewater Treatment
- Steel Pickling to Drive Demand for Hydrochloric Acid
- Hydrochloric Acid for Inorganic Compounds Production
- Ph Control and Neutralization for End-Use Industries
- Use of Hydrochloric Acid for Regeneration of Ion Exchangers
Restraints
- Storage System for Hydrochloric Acid
Opportunities
- Emerging Countries Offering Significant Growth Opportunities
- Increasing Small-Scale Applications
- Extensive Laboratory Use
Challenges
- Handling and Safety Considerations
- Corrosive Gaseous Chlorine Compounds
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $2.5 Billion |
| Forecasted Market Value (USD) by 2027 | $3.4 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Hydrochloric Acid Market, by Grade
6.1 Introduction
6.2 Synthetic Grade
6.3 By-Product Grade
7 Hydrochloric Acid Market, by Application
7.1 Introduction
7.2 Steel Pickling
7.3 Oil Well Acidizing
7.4 Ore Processing
7.5 Food Processing
7.6 Pool Sanitation
7.7 Calcium Chloride
7.8 Biodiesel
7.9 Others
8 Hydrochloric Acid Market, by End-Use Industry
8.1 Introduction
8.2 Food & Beverage
8.3 Pharmaceutical
8.4 Textile
8.5 Steel
8.6 Oil & Gas
8.7 Chemical
8.8 Others
9 Hydrochloric Acid Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Acuro Organics Limited
- Agc Chemicals
- Ashta Chemicals Inc
- Aurora Fine Chemicals
- Basf Se
- Cemex Speciality Limited
- Continental Chemical
- Covestro Ag
- Detrex Corporation
- Erco Worldwide
- Formosa Plastics Corporation
- Hawkins
- Henan Qingshuiyuan Technology Co Ltd
- Jones-Hamilton Co
- Kuhlmann Europe
- Maxwell Additives Pvt Ltd
- Nouryon
- Occidental Petroleum Corporation
- Olin Corporation
- Pcc Group
- Polysciences Inc
- Tata Chemicals Limited
- Tronox Holdings plc
- Westlake Chemical Corporation
- Zouping Dongfang Chemical Industry Co Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vlz2ip-acid?w=12
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