The global hydrochloric acid market is expected to witness steady growth over the coming years. Hydrochloric acid, also known as muriatic acid, is a strong corrosive acid commonly used in industrial settings. The market is driven by several factors, including its widespread applications in various industries such as chemical manufacturing, steel production, food processing, pharmaceuticals, and water treatment.
Global Hydrochloric Acid Market size was valued at USD 75.84 million in 2023 and is projected to reach USD 111.20 million by 2031, with a CAGR of 4.9% during the forecast period 2024 to 2031.
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Below are the Top Five Hydrochloric Acid Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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ERCO Worldwide
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ERCO Worldwide has a long history of expertise in the production of hydrochloric acid and other chemicals. The company operates multiple manufacturing facilities strategically located to serve customers around the world. ERCO Worldwide's production facilities are known for their efficiency and adherence to strict quality standards, ensuring that customers receive consistent and reliable products. ERCO Worldwide's strong reputation in the industry, coupled with its commitment to quality and sustainability, has helped it establish long-standing relationships with customers around the world. As the demand for hydrochloric acid continues to grow, ERCO Worldwide is well-positioned to capitalize on this trend and maintain its leadership position in the global market.
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North America, China, and Japan
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In June 2019, ERCO Worldwide bought the specialty chemicals business from Superior Plus. The company is able to increase the production of chemicals in North America. This update has helped the company to increase its revenue.
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2.
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Occidental Petroleum Corporation
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Occidental Petroleum Corporation, commonly known as Oxy, is a global oil and gas exploration and production company with operations in the United States, the Middle East, and Latin America. While primarily known for its activities in the oil and gas industry, Oxy also produces and sells hydrochloric acid as a byproduct of its operations. Founded in 1920 and headquartered in Houston, Texas, Oxy has grown to become one of the largest oil and gas companies in the world, with a strong presence in key producing regions. The company's operations encompass a wide range of activities, including exploration, production, refining, and marketing of oil and gas products. Oxy is committed to sustainability and has implemented various initiatives to reduce its environmental impact, including reducing greenhouse gas emissions, minimizing water use, and promoting biodiversity conservation. The company also has a strong focus on corporate social responsibility, supporting communities where it operates through various social and environmental programs.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In August 2014, Occidental Petroleum Corporation decided the successful start-up of a new hydrochloric acid unit at Niagara Falls chlor-alkali facility. This update helped the company to increase its revenue and production.
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3.
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Olin Corporation
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Olin Corporation, a key player in the chemical industry, holds a significant position in the hydrochloric acid market. With its high-quality products and global presence, Olin contributes to the market's stability and growth. Hydrochloric acid serves diverse industrial applications, including chemical manufacturing, steel production, and food processing, driving its steady demand.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In March 2015, Olin Corporation decided to merge the production unit with the Dow Chemical plant across Oyster Creek, Texas. This update has helped the company increase the number of products and chemicals, which has helped to increase revenue.
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4.
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AGC Inc. AGC Chemicals
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AGC Inc., formerly known as Asahi Glass Co., Ltd., is a global leader in glass manufacturing and chemical products, including hydrochloric acid. AGC Chemicals is a subsidiary of AGC Inc. that focuses on the development, production, and sale of chemical products for various industries. AGC Chemicals is known for its high-quality products and innovative solutions. The company's hydrochloric acid is used in a wide range of applications, including chemical manufacturing, water treatment, and metal processing. AGC Chemicals' hydrochloric acid is known for its purity and consistency, making it a preferred choice for customers around the world.
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North America, Middle East and Africa, Europe, Japan
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In January 2019, AGC Chemicals Americas acquired Malgrat Pharma Chemicals, which was a subsidiary of Boehringer Ingelheim located in Spain. MPC primarily focuses on the manufacturing of synthetic pharmaceutical active ingredients utilized in pharmaceutical products produced by chemical synthesis. This enabled the company to manufacture their Active Pharmaceutical Ingredients which further helps to improve the productivity and profit margin of the company.
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5.
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Westlake Corporation
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Westlake Corporation is a leading manufacturer and supplier of hydrochloric acid with a strong presence in the global market. The company is known for its high-quality products and reliable supply chain, serving a wide range of industries such as chemical manufacturing, water treatment, and food processing.
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North America, Europe, Asia
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In March 2019, Westlake Chemical Corporation announced that it would acquire an additional 4.50% limited partner interest in Westlake Chemical OpCo LP on a fully diluted basis for approximately USD 201.40 million. This would invariably enhance the company's overall revenue and profit.
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Conclusion
The global hydrochloric acid market is expected to grow steadily in the coming years. Key factors driving this growth include the increasing demand for hydrochloric acid in various industries such as chemical manufacturing, water treatment, and food processing. The market is also benefiting from the growth of the construction industry, particularly in emerging economies. Major global hydrochloric acid market players, such as ERCO Worldwide, Occidental Petroleum Corporation, Olin Corporation, AGC Inc., and Westlake Corporation, are well-positioned to capitalize on this growth. These companies are known for their high-quality products, robust distribution networks, and commitment to sustainability, which are important factors driving their success in the market.
