Global Hydrochloric Acid Market, By Type (Synthetic Hydrochloric Acid, By-Product Hydrochloric Acid), Form (Water-Based, Aqueous, Solution), Application (Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride, Others), Distribution Channel (E-Commerce, B2B, Specialty Stores, Others), End-User (Food and Beverages, Steel Industry, Pharmaceuticals, Textile, Oil and Gas, Chemistry Industry, Others) – Industry Trends and Forecast to 2030.
Hydrochloric Acid Market Analysis and Size
The worldwide hydrochloric acid market is expected to increase significantly during the forecast period because of the growing number of applications for hydrochloric acid. Furthermore, in the coming years, the worldwide hydrochloric acid market is expected to benefit from key companies' increased focus on expanding their product portfolio to strengthen their market position and carve out a niche around the world. As a result of these factors, the market is likely to grow at a healthy pace throughout the forecast period.
Data Bridge Market Research analyzes that the global hydrochloric acid market was valued at USD 72.3 million in 2022 and is expected to reach USD 116.9 million by 2030 registering a CAGR of 4.9% during the forecast period of 2023-2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
Report Metric |
Details |
Forecast Period |
2023 to 2030 |
Base Year |
2022 |
Historic Years |
2021 (Customizable to 2015-2020) |
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered |
By Type (Synthetic Hydrochloric Acid, By-Product Hydrochloric Acid), Form (Water-Based, Aqueous, Solution), Application (Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride, Others), Distribution Channel (E-Commerce, B2B, Specialty Stores, Others), End-User (Food and Beverages, Steel Industry, Pharmaceuticals, Textile, Oil and Gas, Chemistry Industry, Others) |
Countries Covered |
U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America |
Market Players Covered |
Ashland (U.S.), Arkema (France), BASF SE (Germany), Kemira (Finland) , The Lubrizol Corporation (U.S.), NIPPON SHOKUBAI CO. LTD (Japan), Dow (U.S.), Henan Qingshuiyuan Technology CO., Ltd., (China), Aurora Fine Chemicals (U.S.), Zouping Dongfang Chemical Co., Ltd. (China), ACURO ORGANICS LIMITED (U.S.), Maxwell Additives Pvt. Ltd (India), Chemtex Speciality Limited (India), Polysciences, Inc.(U.S.), PROTEX INTERNATIONAL (France), Corporate.Evonik (Germany) |
Market Opportunities |
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Market Definition
Hydrochloric acid or muriatic acid is mineral acid derived from more than one type of inorganic compound and has 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.
Global Hydrochloric Acid Market dynamics
Driver
- Increased utilization of hydrochloric acid
The acidizing of oil-wells helps improve oil and gas production, which indirectly boosts the requirement and thereby the production of hydrochloric acid by tones. Thus, the oil and gas economic sector and its acidizing requirement could be considered the primary and largest booster of the hydrochloric acid market. Moreover, the increasing demand of the surface cleaners in the residential will increase the demand of the hydrochloric acid market.
The increasing awareness about the advantage of using lubricant-based products due to their corrosion resistant, nonflammable, and nontoxic properties will further propel the growth rate of hydrochloric acid market. In addition, the growth in trade by air transportation will also drive market value growth. The expansion of the automotive industry and the increase in defense budgets are other market growth determinants that are projected to bolster the market's growth
Opportunity
- Investment in chemical manufacturing and water treatment
Hydrochloric acid is a vital raw material in the chemical industry for the production of a wide range of chemicals, including chlorine, various chlorides, and other organic compounds. The growth of the chemical industry, driven by increased demand for chemicals in various applications, presents a significant opportunity for hydrochloric acid manufacturers. Hydrochloric acid is used for pH control and water treatment in various industrial processes. As environmental regulations become stricter, the demand for effective water treatment solutions is on the rise. This creates opportunities for hydrochloric acid suppliers in the water treatment sector.
Restraint
- Regulatory compliance and safety concerns
Stringent regulations and environmental standards related to the production, handling, and disposal of hydrochloric acid can pose significant challenges. Companies must invest in compliance measures and environmentally friendly practices, which can increase operational costs. Hydrochloric acid is a highly corrosive and hazardous substance. Safety is a primary concern in its production, transportation, and handling. Accidents or spills can have serious consequences, leading to safety and liability issues.
Challenge
- Environmental impact
The production and use of hydrochloric acid can have adverse environmental impacts, including emissions of chlorine gas and the release of hazardous waste. As environmental awareness and regulations increase, companies must invest in pollution control and waste management solutions.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Hydrochloric Acid Market Scope
The hydrochloric acid market is segmented on the basis of type, form, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Synthetic Hydrochloric Acid
- By-Product Hydrochloric Acid
Form
- Water-Based
- Aqueous
- Solution
Application
- Steel Pickling
- Oil Well Acidizing
- Ore Processing
- Food Processing
- Pool Sanitation
- Calcium Chloride
- Others
Distribution Channel
- E-Commerce
- B2B
- Specialty Stores
- Others
End-User
- Food and Beverages
- Steel Industry
- Pharmaceuticals
- Textile
- Oil and Gas
- Chemistry Industry
- Others
Global Hydrochloric Acid Market Regional Analysis/Insights
The hydrochloric acid market is analysed and market size insights and trends are provided by country, type, form, application, distribution channel and end-user as referenced above.
The countries covered in the hydrochloric acid market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.
North America is expected to dominate the market due to the increasing use of hydrochloric acid in aerospace applications within the region.
Asia-Pacific is expected to show significant growth over the forecast period of 2023-2030, due to the increasing spending on research and development for applications of defense and aerospace in the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data
Competitive Landscape and Global Hydrochloric Acid Market Analysis
The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hydrochloric acid market.
Some of the major players operating in the hydrochloric acid market are:
- Ashland (U.S.)
- Arkema (France)
- BASF SE (Germany)
- Kemira (Finland)
- The Lubrizol Corporation (U.S.)
- NIPPON SHOKUBAI CO. LTD (Japan)
- Dow (U.S.)
- Henan Qingshuiyuan Technology CO., Ltd., (China)
- Aurora Fine Chemicals (U.S.)
- Zouping Dongfang Chemical Co., Ltd. (China)
- ACURO ORGANICS LIMITED (U.S.)
- Maxwell Additives Pvt. Ltd (India)
- Chemtex Speciality Limited (India)
- Polysciences, Inc.(U.S.)
- PROTEX INTERNATIONAL (France)
- Corporate.Evonik (Germany)
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