Asia-Pacific Hydrochloric Acid Market, By Type (Synthetic Hydrochloric Acid and By-Product Hydrochloric Acid), Form (Water-Based, Aqueous and Solution), Application (Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride and Others), Distribution Channel (E-Commerce, B2B, Specialty Stores and Others), End-User (Food and Beverages, Pharmaceuticals, Textile, Oil and Gas, Steel Industry, Chemistry Industry and Others), Country (Japan, China, South Korea, India, Australia and New Zealand, Singapore, Thailand, Hong-Kong, Taiwan, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Hydrochloric Acid Market
The hydrochloric acid market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 5.8% in the forecast period of 2021 to 2028 and expected to reach USD 846,442.76 thousand by 2028. Increasing demand of hydrochloric acid in food services industry among manufacturers are the factors for the hydrochloric acid market growth.
Hydrochloric acid or muriatic acid is mineral acid which is an acid derived from more than one type of inorganic compounds and have the chemical formula HCl. It is colorless, highly acidic and corrosive in nature and has a particularly pungent smell. The corrosive nature of the hydrochloric acid is attributed to its ability to completely dissociate in an aqueous solution. Liquid hydrochloric acid is composed of hydrogen chloride and water and is one of the simplest acidic systems based on chlorine.
Acidizing of oil-wells helps in improving the oil and gas production which indirectly boost the requirement and thereby the production of hydrochloric acid by tones. Thus, oil and gas economic sector and its acidizing requirement could be considered as the primary and the largest booster of the hydrochloric acid market. The highly reactive acid on the skin which becomes very difficult for the workers to use the acid in the application of industries and even acid can also result in the vision loss if hydrochloric acid comes into the contact with eyes so due to high reactive nature of the hydrochloric acid restrain its growth in the hydrochloric acid market. The increasing demand of the surface cleaners in the residential will increase the demand of the hydrochloric acid which is the opportunity for the hydrochloric acid market. The increasing effect of the hydrochloric acid on the environment will decrease the demand of the hydrochloric acid in various industries which is the challenge for the hydrochloric acid market.
Asia-Pacific region is dominating due to the population of the countries like China and India is very huge which boosts the demand of packaging food among the consumers. The growing demand of the Hydrochloric Acid as ingredient in steel industry is another reason of increasing demand of the hydrochloric acid.
This hydrochloric acid market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Hydrochloric Acid Market Scope and Market Size
The hydrochloric acid market is segmented on the basis of type, form, application, distribution channel and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the hydrochloric acid market is segmented into synthetic hydrochloric acid and by-product hydrochloric acid. In 2021, the demand of synthetic hydrochloric acid segment is dominating because of influence of globalization that made packed food products and pools widespread.
- On the basis of form, the hydrochloric acid market is segmented into water-based, aqueous and solution. In 2021, the demand of aqueous segment is growing very rapidly because aqueous HCl has effectiveness and lack of harmful impurities.
- On the basis of application, the hydrochloric acid market is segmented into steel pickling, oil well acidizing, ore processing, food processing, pool sanitation, calcium chloride and others. In 2021, the demand of food processing segment in hydrochloric acid has increased because the consumers will shift to the outside food.
- On the basis of distribution channel, the hydrochloric acid market is segmented into e-commerce, B2B, specialty stores and others. In 2021, the demand of B2B segment in hydrochloric acid has clients which gets extra befits in terms of cash and non-cash benefits.
- On the basis of end-user, the hydrochloric acid market is segmented into food and beverages, pharmaceuticals, textile, oil and gas, steel industry, chemistry industry and others. In 2021, the food and beverages segment dominates end-user segment because of the widespread consumption of pre-packed food items.
Asia-Pacific Hydrochloric Acid Market Country Level Analysis
Hydrochloric acid market is analysed and market size information is provided by the country, type, form, application, distribution channel and end-user as referenced above.
The countries covered in Asia-Pacific hydrochloric acid market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand, Hong Kong, Taiwan and Rest of Asia-Pacific.
- In Asia-Pacific hydrochloric acid market, Japan is dominating the market due to increasing demand of hydrochloric acid in the steel industry which boosts demand of hydrochloric acid in the region.
The country section of the Asia-Pacific hydrochloric acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing application of Hydrochloric Acid for improvement of building and construction parameters
Asia-Pacific hydrochloric acid market also provides you with detailed market analysis for every country growth in installed base of different kind of products for Asia-Pacific hydrochloric acid market, impact of technology using life line curves and changes in regulatory scenarios and their impact on the hydrochloric acid market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Hydrochloric Acid Market Share Analysis
Asia-Pacific hydrochloric acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to hydrochloric acid market.
The major players covered in the Asia-Pacific hydrochloric acid market report are Olin Corporation, Occidental Petroleum Corporation, Shin-Etsu Chemical Co., Ltd., BASF SE, UNID, Detrex Corporation (a subsidiary of Italmatch Chemicals S.p.A.), Tronox Holdings plc, IXOM, Nouryon, ERCO Worldwide (a subsidiary of Superior Plus), SEQUENS, Formosa Plastics Corporation, Tessenderlo Group, Westlake Chemical Corporation, Aditya Birla Chemicals, AGC Chemicals Americas and TOAGOSEI CO., LTD. among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In March 2015, Olin Corporation has decided to merge the production unit with Dow Chemical plant across in Oyster Creek, Texas. This development has helped the company to increase the products of the chemicals which help to increase the revenue.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Iron ore pellets through expanded range of size.
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