Hydrochloric Acid Market Research Report - Forecast Till 2030

Hydrochloric Acid Market: Information by Application (Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Calcium Chloride, and Others), End-Use Industry (Food and Beverages, Pharmaceuticals, Textile, Steel, Oil & Gas, Chemical Industry and Others) - Forecast till 2030

ID: MRFR/CnM/2096-HCR | February 2021 | Region: Global | 140 Pages         

TABLE OF CONTENTS

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.3 List of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics of the Global Hydrochloric Acid Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis of the Global Hydrochloric Acid Market

5.1 Supply Chain Analysis

5.1.1 Raw Material Suppliers

5.1.2 Manufacturers/Producers

5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

5.1.4 End User

5.2 Porter’s Five Forces Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 Threat of Substitutes

5.2.5 Intensity of Competitive Rivalry

5.3 Pricing Analysis

6. Global Hydrochloric Acid Market, by Application

6.1 Introduction

6.2 Steel Pickling

6.2.1 Market Estimates & Forecast, 2019–2027

6.2.2 Market Estimates & Forecast, by Region, 2019–2027

6.3 Oil Well Acidizing

6.3.1 Market Estimates & Forecast, 2019–2027

6.3.2 Market Estimates & Forecast, by Region, 2019–2027

6.4 Ore Processing

6.4.1 Market Estimates & Forecast, 2019–2027

6.4.2 Market Estimates & Forecast, by Region, 2019–2027

6.5 Food Processing

6.5.1 Market Estimates & Forecast, 2019–2027

6.5.2 Market Estimates & Forecast, by Region, 2019–2027

6.6 Calcium Chloride

6.6.1 Market Estimates & Forecast, 2019–2027

6.6.2 Market Estimates & Forecast, by Region, 2019–2027

6.7 Others

6.7.1 Market Estimates & Forecast, 2019–2027

6.7.2 Market Estimates & Forecast, by Region, 2019–2027

7. Global Hydrochloric Acid Market, by End-Use Industry

7.1 Introduction

7.2 Food and Beverages

7.2.1 Market Estimates & Forecast, 2019–2027

7.2.2 Market Estimates & Forecast, by Region, 2019–2027

7.3 Pharmaceuticals

7.3.1 Market Estimates & Forecast, 2019–2027

7.3.2 Market Estimates & Forecast, by Region, 2019–2027

7.4 Textile

7.4.1 Market Estimates & Forecast, 2019–2027

7.4.2 Market Estimates & Forecast, by Region, 2019–2027

7.5 Steel

7.5.1 Market Estimates & Forecast, 2019–2027

7.5.2 Market Estimates & Forecast, by Region, 2019–2027

7.6 Oil & Gas

7.6.1 Market Estimates & Forecast, 2019–2027

7.6.2 Market Estimates & Forecast, by Region, 2019–2027

7.7 Chemical Industry

7.7.1 Market Estimates & Forecast, 2019–2027

7.7.2 Market Estimates & Forecast, by Region, 2019–2027

7.8 Others

7.8.1 Market Estimates & Forecast, 2019–2027

7.8.2 Market Estimates & Forecast, by Region, 2019–2027

8. Global Hydrochloric Acid Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2019–2027

8.2.2 Market Estimates & Forecast, by Application, 2019–2027

8.2.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2019–2027

8.2.4.2 Market Estimates & Forecast, by Application, 2019–2027

8.2.4.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2019–2027

8.2.5.2 Market Estimates & Forecast, by Application, 2019–2027

8.2.5.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2019–2027

8.3.2 Market Estimates & Forecast, by Application, 2019–2027

8.3.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, 2019–2027

8.3.4.2 Market Estimates & Forecast, by Application, 2019–2027

8.3.4.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.5 France

8.3.5.1 Market Estimates & Forecast, 2019–2027

8.3.5.2 Market Estimates & Forecast, by Application, 2019–2027

8.3.5.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.6 Italy

8.3.6.1 Market Estimates & Forecast, 2019–2027

8.3.6.2 Market Estimates & Forecast, by Application, 2019–2027

8.3.6.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.7 Spain

8.3.7.1 Market Estimates & Forecast, 2019–2027

8.3.7.2 Market Estimates & Forecast, by Application,2019–2027

8.3.7.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.8 UK

8.3.8.1 Market Estimates & Forecast, 2019–2027

8.3.8.2 Market Estimates & Forecast, by Application,2019–2027

8.3.8.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast, 2019–2027

8.3.9.2 Market Estimates & Forecast, by Application,2019–2027

8.3.9.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.10 Poland

8.3.10.1 Market Estimates & Forecast, 2019–2027

8.3.10.2 Market Estimates & Forecast, by Application, 2019–2027

8.3.10.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.3.11 Rest of Europe

8.3.11.1 Market Estimates & Forecast, 2019–2027

8.3.11.2 Market Estimates & Forecast, by Application, 2019–2027

8.3.11.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2019–2027

8.4.2 Market Estimates & Forecast, by Application, 2019–2027

8.4.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2019–2027

8.4.4.2 Market Estimates & Forecast, by Application, 2019–2027

8.4.4.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2019–2027

8.4.5.2 Market Estimates & Forecast, by Application, 2019–2027

8.4.5.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2019–2027

8.4.6.2 Market Estimates & Forecast, by Application, 2019–2027

8.4.6.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2019–2027

8.4.7.2 Market Estimates & Forecast, by Application, 2019–2027

8.4.7.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2019–2027

8.4.8.2 Market Estimates & Forecast, by Application, 2019–2027

8.4.8.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2019–2027

8.5.2 Market Estimates & Forecast, by Application, 2019–2027

8.5.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.5.4 GCC

8.5.4.1 Market Estimates & Forecast, 2019–2027

8.5.4.2 Market Estimates & Forecast, by Application, 2019–2027

8.5.4.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2019–2027

8.5.5.2 Market Estimates & Forecast, by Application, 2019–2027

8.5.5.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2019–2027

8.5.6.2 Market Estimates & Forecast, by Application, 2019–2027

8.5.6.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.5.7 Turkey

8.5.7.1 Market Estimates & Forecast, 2019–2027

8.5.7.2 Market Estimates & Forecast, by Application, 2019–2027

8.5.7.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2019–2027

8.5.8.2 Market Estimates & Forecast, by Application, 2019–2027

8.5.8.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2019–2027

8.6.2 Market Estimates & Forecast, by Application, 2019–2027

8.6.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2019–2027

8.6.4.2 Market Estimates & Forecast, by Application, 2019–2027

8.6.4.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2019–2027

8.6.5.2 Market Estimates & Forecast, by Application, 2019–2027

8.6.5.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2019–2027

8.6.6.2 Market Estimates & Forecast, by Application, 2019–2027

8.6.6.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2019–2027

8.6.7.2 Market Estimates & Forecast, by Application, 2019–2027

8.6.7.3 Market Estimates & Forecast, by End-Use Industry, 2019–2027

9. Company Landscape

9.1 Introduction

9.2 Market Strategy

9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)

10. Company Profiles

10.1 The Dow Chemical Company

10.1.1 Company Overview

10.1.2 Financial Updates

10.1.3 Product/Business Segment Overview

10.1.4 Strategy

10.1.5 Key Developments

10.1.6 SWOT Analysis

10.2 Axiall Corporation

10.2.1 Company Overview

10.2.2 Financial Updates

10.2.3 Product/Business Segment Overview

10.2.4 Strategy

10.2.5 Key Developments

10.2.6 SWOT Analysis

10.3 Oxy Chemical Corp

10.3.1 Company Overview

10.3.2 Financial Updates

10.3.3 Product/Business Segment Overview

10.3.4 Strategy

10.3.5 Key Developments

10.3.6 SWOT Analysis

10.4 BASF SE

10.4.1 Company Overview

10.4.2 Financial Updates

10.4.3 Product/Business Segment Overview

10.4.4 Strategy

10.4.5 Key Developments

10.4.6 SWOT Analysis

10.5 Heetu Chemicals & Alkalies Ltd

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.3 Product/Business Segment Overview

10.5.4 Strategy

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.6 Aditya Birla Chemicals Ltd

10.6.1 Company Overview

10.6.2 Financial Updates

10.6.3 Product/Business Segment Overview

10.6.4 Strategy

10.6.5 Key Developments

10.6.6 SWOT Analysis

10.7 INTERNATIONAL CHEMICAL INVESTORS SE

10.7.1 Company Overview

10.7.2 Financial Updates

10.7.3 Product/Business Segment Overview

10.7.4 Strategy

10.7.5 Key Developments

10.7.6 SWOT Analysis

10.8 INOVYN ChlorVinyls Limited

10.8.1 Company Overview

10.8.2 Financial Updates

10.8.3 Product/Business Segment Overview

10.8.4 Strategy

10.8.5 Key Developments

10.8.6 SWOT Analysis

10.9 Detrex Corporation

10.9.1 Company Overview

10.9.2 Financial Updates

10.9.3 Product/Business Segment Overview

10.9.4 Strategy

10.9.5 Key Developments

10.9.6 SWOT Analysis

10.10 Solvay SA

10.10.1 Company Overview

10.10.2 Financial Updates

10.10.3 Product/Business Segment Overview

10.10.4 Strategy

10.10.5 Key Developments

10.10.6 SWOT Analysis

10.11 AGC Chemicals

10.11.1 Company Overview

10.11.2 Financial Updates

10.11.3 Product/Business Segment Overview

10.11.4 Strategy

10.11.5 Key Developments

10.11.6 SWOT Analysis

10.12 Lords Chloro Alkali Limited

10.12.1 Company Overview

10.12.2 Financial Updates

10.12.3 Product/Business Segment Overview

10.12.4 Strategy

10.12.5 Key Developments

10.12.6 SWOT Analysis

10.11 Hangzhou Hengmao Chemical Co., Ltd

10.11.1 Company Overview

10.11.2 Financial Updates

10.11.3 Product/Business Segment Overview

10.11.4 Strategy

10.11.5 Key Developments

10.11.6 SWOT Analysis

11. Conclusion 

LIST OF TABLES

Table 1 Global Hydrochloric Acid Market: by Region, 2019–2027

Table 2 North America: Hydrochloric Acid Market, by Country, 2019–2027

Table 3 Europe: Hydrochloric Acid Market, by Country, 2019–2027

Table 4 Asia-Pacific: Hydrochloric Acid Market. by Country, 2019–2027

Table 5 Middle East & Africa: Hydrochloric Acid Market, by Country, 2019–2027

Table 6 Latin America: Hydrochloric Acid Market, by Country, 2019–2027

Table 7 Global Hydrochloric Acid Application Market, by Regions, 2019–2027

Table 8 North America: Hydrochloric Acid Application Market, by Country, 2019–2027

Table 9 Europe: Hydrochloric Acid Application Market, by Country, 2019–2027

Table10 Asia-Pacific: Hydrochloric Acid Application Market, by Country, 2019–2027

Table11 Middle East & Africa: Hydrochloric Acid Application Market, by Country, 2019–2027

Table12 Latin America: Hydrochloric Acid Application Market, by Country, 2019–2027

Table 13 Global Hydrochloric Acid End-Use Industry Market, by Regions, 2019–2027

Table14 North America: Hydrochloric Acid End-Use Industry Market, by Country, 2019–2027

Table15 Europe: Hydrochloric Acid End-Use Industry Market, by Country, 2019–2027

Table16 Asia-Pacific: Hydrochloric Acid End-Use Industry Market, by Country, 2019–2027

Table17 Middle East & Africa: Hydrochloric Acid End-Use Industry Market, by Country, 2019–2027

Table18 Latin America: Hydrochloric Acid by End-Use Industry Market, by Country, 2016-2023

Table19 Global Application Market, by Region, 2019–2027

Table20 Global End-Use Industry Market, by Region, 2019–2027

Table21 North America: Hydrochloric Acid Market, by Country, 2019–2027

Table22 North America: Hydrochloric Acid Market, by Application, 2019–2027

Table23 North America: Hydrochloric Acid Market, by End-Use Industry, 2019–2027

Table24 Europe: Hydrochloric Acid Market, by Country, 2019–2027

Table25 Europe: Hydrochloric Acid Market, by Application, 2019–2027

Table26 Europe: Hydrochloric Acid Market, by End-Use Industry, 2019–2027

Table27 Asia-Pacific: Hydrochloric Acid Market, by Country, 2019–2027

Table28 Asia-Pacific: Hydrochloric Acid Market, by Application, 2019–2027

Table29 Asia-Pacific: Hydrochloric Acid Market, by End-Use Industry, 2019–2027

Table30 Middle East & Africa: Hydrochloric Acid Market, by Country, 2019–2027

Table31 Middle East & Africa: Hydrochloric Acid Market, by Application, 2019–2027

Table32 Middle East & Africa: Hydrochloric Acid Market, by End-Use Industry, 2019–2027

Table33 Latin America: Hydrochloric Acid Market, by Country, 2019–2027

Table34 Latin America: Hydrochloric Acid Market, by Application, 2019–2027

Table35 Latin America: Hydrochloric Acid Market, by End-Use Industry, 2019–2027

LIST OF FIGURES

FIGURE 1 Global Hydrochloric Acid Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of Global Hydrochloric Acid Market

FIGURE 4 Value Chain of Global Hydrochloric Acid Market

FIGURE 5 Share of Global Hydrochloric Acid Market in 2019, by Country

FIGURE 6 Global Hydrochloric Acid Market, 2019–2027,

FIGURE 7 Global Hydrochloric Acid Market Size, by Application, 2019

FIGURE 8 Share of Global Hydrochloric Acid Market, by Application, 2019–2027

FIGURE 9 Global Hydrochloric Acid Market Size, by End-Use Industry, 2019

FIGURE10 Share of Global Hydrochloric Acid Market, by End-Use Industry, 2019–2027

Hydrochloric Acid Market

The Hydrochloric Acid Market is projected to be worth USD 1.9 Billion by 2027, registering a CAGR of 5.2% during the forecast period (2020 - 2027).

Segmentation

By Application Steel Pickling Oil Well Acidizing Ore Processing Food Processing Calcium Chloride Others
By End-Use Industry Food And Beverages Pharmaceuticals Textile Steel Oil & Gas Chemical Industry Others

Key Players

  • The Dow Chemical Company
  • Axiall Corporation
  • Aditya Birla Chemicals Ltd
  • INTERNATIONAL CHEMICAL INVESTORS SE
  • INOVYN Chlorvinyls ltd
  • Detrex Corporation
  • Solvay SE

Drivers

  • The rise of the growth of the construction and automotive industry along with the demand for steel and the allied product is increasing.
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Hydrochloric Acid Market Overview


Hydrochloric Acid Market is expected to grow USD 1.9 billion at a CAGR 5.2% during the forecast period. Hydrochloric acid is a common laboratory reagent and chemical used in industry. It's made by dissolving hydrogen chloride in water in an industrial setting. In the steel industry, hydrochloric acid is utilized in the pickling process. Pickling is a method for removing impurities from ferrous metals, copper, precious metals, and aluminum alloys, such as inorganic pollutants, stains, rust, and scale.


The global hydrochloric acid market is expected to expand over the projected period, driven by rising demand from sectors such as water treatment, food processing, and oil and gas. In addition, over the next six years, the hydrochloric (HCL) acid market is predicted to be driven by rising HCl use in the steel and pharmaceutical industries. The increasing demand for hydrochloric acid from the steel sector is a major market driver for the worldwide hydrochloric acid market. HCl is used to remove iron oxide and scales from steel surfaces in the steel industry. As a result of the growing demand for steel from numerous industries, the hydrochloric acid market will grow. Increased investment in the oil and gas sector, as well as the mining industry, has led to market participants conducting R&D for application development, resulting in numerous potential for the hydrochloric acid market to flourish. Furthermore, advances in the chemical manufacturing sector are expected to boost muriatic acid market growth during the next six years. However, market expansion is expected to be hampered by unclear raw material availability and resulting price variations.


COVID 19 ANALYSIS


The outbreak of the pandemic of COVID impacted a nation. A decrease in the supply of raw materials to the industry was marked which disrupted the supply chain. There was a financial impact on the firms and also on the production facilities.


The government imposed lockdown regulations and also work from home rules and regulations for the employees were put forward. Many of the countries have been on severe lockdown for months and many factories and industries were running on minimum staff.  All these rules were made by the government for the safety of the country’s people.


COMPETITIVE LANDSCAPE


There are some of the key players that help to analyze the global hydrochloric market. These competitors merge or build partnerships with other key players. Some of those key players are The Dow Chemical Company of United States, Axiall Corporation of United States, Aditya Birla Chemicals Ltd of India, INTERNATIONAL CHEMICAL INVESTORS SE of Germany, INOVYN Chlorvinyls ltd of UK, Detrex Corporation of US, Solvay SE of Belgium, AGC Chemicals of Japan, Lords Chloro Alkali ltd of India, Hangzhou Hengmao Chemicals Co, Ltd of China and many korai.


Global Hydrochloric Acid Market Share, By End-Use Industry, 2019 (%)

Hydrochloric acid


MARKET DYNAMICS


Drivers-
rise in growth of construction and automotive industry along with the demand for steel and the allied product is increasing. This is the main factor that drives the growth of hydrochloric acid used for pickling operations of steel alloy and stainless steel. The rise in industrialization and increase in hydrochloric market size of the chemical industry has a positive impact on the market. Investing much more in the pharmaceutical industry where hydrochloric acid is used in major applications like pH control, catalyst, and many more.


Opportunities-
investing more sums has made the marketing participants undertake R and D for the enhancement of application, gives lucrative opportunities to increase the hydrochloric acid market value. The government has taken initiatives to give FDI approval for the manufacturing sector to increase the opportunities for growth in the hydrochloric acid market. The government is targeting to raise the GDP share of the manufacturing sector. In 2020, Japan’s crude steel production will be 83.2 million tons.


Challenges-

the corrosive nature of hydrochloric acid is the most challenging factor in the market. Hydrochloric acid is a strong acid that causes severe burns on skin and eyes due to which its cost of handling and storage increases which becomes the other challenging factor.


Cumulative growth-

use of hydrochloric acid for mining activity supported by the rise in commodity prices and expansion in industrialization boosts up the hydrochloric market size in a variety of mining operations like ore treatment, extraction, separation, purification, and treatment of water. China is marked as being the most dominant producer of iron and steel. It also manufactures crude steel which increases its production during the review period.


Restraints-

Fluctuation in oil and gas prices and resulting gap in demand and supply hinders the hydrochloric acid market value and hydrochloric acid market size. Downfall in the Chinese economy impacted the hydrochloric acid market growth. Harmful air pollutants of hydrochloric acid so released from the hydrochloric acid production facilities hampers the growth. Hydrochloric acid causes acid rain which had a short-term and long-term impact on the environment thus disrupting the growth of the hydrochloric acid market.

SEGMENT OVERVIEW


By Type-

Globally the hydrochloric acid market has been bifurcated based on application, end-use industry, and region. Based on application, it is segmented into steel pickling, oil well acidizing, ore processing, food processing, calcium chloride, and many more. By end-use industry, the hydrochloric market is categorized into food and beverages, pharmaceuticals, textile, steel, oil and gas, chemical industry, and many more. Based on region, during the hydrochloric acid market forecast period the market is divided into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.


By Technology- f

rom the hydrochloric market outlook, it was marked that the advancement in technology helped in delivering a differentiated business outcome. From innovative technology, the transformational idea was driven which provided an innovative horizontal perspective. Less exposure to troubled vehicles was experienced which provided cushions to the manufacturing industries.

REGIONAL ANALYSIS


The regions of Asia Pacific cover the largest hydrochloric acid market share whereas China, India, and Asian countries are the prominent market shareholders. The hydrochloric market is the dominant and fastest-growing market during the assessment period which owes to the increase in manufacturing activities, growth in geriatric population, and also due to presence of developing industries namely food, chemical, and textile in the regions of India and China. North American hydrochloric acid market shows the high hydrochloric market value and covers the second-largest hydrochloric market share after the Asia Pacific. Europe also accounts to be another region that covers the hydrochloric acid market. The hydrochloric acid market value in Europe is increased by the growing chemical industry and the rise in demand for food and beverages. The most dominant market in Europe is shared by French, Italy, United Kingdom, and Germany. Globally it is marked that Latin America has been regarded as the new market which is offering numerous growth opportunities during the hydrochloric acid market forecast period. The rise in demand for hydrochloric acid chemicals for the above regions can be attributed to the increasing investment in Chile, Argentina, and Brazil. The regions of the Middle East and Africa share a moderate part of the hydrochloric acid market thus owing to increasing investment in the oil and steel industry.


RECENT DEVELOPMENTS


June 2021: Dow, the world's top supplier of hydrochloric acid, announced plans to build a new integrated MDI distillation and prepolymers facility at its Freeport, Texas, production location. The facility will replace the company's existing North American capacity in La Porte, Texas, and will allow the company to enhance its product supply by 30%.


REPORT OVERVIEW


The report covers the market size and market growth during the assessment time. It also gives a holistic evaluation of the market sizing done based on revenue. The report signifies the growth opportunities, and the market risks, and all the upcoming innovations. It summarises the recent developments and the hydrochloric acid market trends, drivers, various opportunities having a positive impact on the growing market. As per the hydrochloric acid market analysis, the report investigates and assesses the current landscape of the evolving business sector and the future effects of COVID on the hydrochloric acid market. It also provides information about the key players and the strategic plans that they carry out to remain dominant in the market. From hydrochloric acid market analysis, the report provides an extensive analysis about the market share, its trend, and the profit margins that provide good insights to keep them updated within the market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 1.9 Billion
  CAGR   5.2%(2019–2027)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019Β &Β 2020
  Forecast Units    Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Application, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   The Dow Chemical Company of United States, Axiall Corporation of United States, Aditya Birla Chemicals Ltd of India, INTERNATIONAL CHEMICAL INVESTORS SE of Germany, INOVYN Chlorvinyls ltd of UK, Detrex Corporation of US, Solvay SE of Belgium, AGC Chemicals of Japan, Lords Chloro Alkali ltd of India, Hangzhou Hengmao Chemicals Co, Ltd of China and many korai.
  Key Market Opportunities   Investing more sums has made the marketing participants undertake R and D for the enhancement of application
  Key Market Drivers   Rise in growth of construction and automotive industry along with the demand for steel and the allied product is increasing.


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Frequently Asked Questions (FAQ) :

The global hydrochloric acid market is expected to reach a valuation of USD 1.9 billion by 2025.

The global hydrochloric acid market is expected to exhibit a solid 4.5% CAGR over the forecast period from 2019 to 2025.

Leading end uses of hydrochloric acid include steel picking, oil well acidizing, and food processing, among others.

The growing demand for steel in automotive and construction applications is likely to be a major driver for the hydrochloric acid market. Growing mining activity across the world is also likely to be a major driver for the global hydrochloric acid market.

Leading players in the hydrochloric acid market include Dow, Oxy Chemical Corp., Axiall Corporation, BASF SE, Aditya Birla Chemicals Ltd., Detrex Corporation, Solvay SA, and AGC Chemicals.