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Global Hydrochloric Acid Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Chemical and Materials
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global 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, Steel Industry, Pharmaceuticals, Textile, Oil and Gas, Chemistry Industry and Others) – Industry Trends and Forecast to 2029

Hydrochloric Acid Market

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.

Global Hydrochloric Acid Market was valued at USD 1.9 billion in 2021 and is expected to reach USD 2.96 billion by 2029, registering a CAGR of 5.70% during the forecast period of 2022-2029. 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

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

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, Steel Industry, Pharmaceuticals, Textile, Oil and Gas, Chemistry Industry and Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

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

  • Market participants undertaking research and development
  • Increasing investments in the oil and gas

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.

Hydrochloric acid Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • 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. Additionally, 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.

Opportunities

  • Investments and Research and Development

Furthermore, the increasing investments in the oil and gas sector along with the mining industry extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the market participants undertaking research and development for application development will further expand the future growth of the hydrochloric acid market.

Restraints/Challenges

  • Lack Of Research And Development

The lack of research and development activities will create hindrances for the growth of the hydrochloric acid market.

  • Adverse Impact

However, 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. Therefore, this factor will challenge the hydrochloric acid market growth rate.

This hydrochloric acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hydrochloric acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Hydrochloric acid Market

The recent outbreak of coronavirus had a negative impact on the hydrochloric acid market. In practically every region of the world, rising COVID concerns have sparked a demand for disinfection of premises and residences. This has fueled demand for a variety of chemicals such as ethyl alcohol, lactic acid, chlorine dioxide, sodium chloride, hydrogen peroxide, citric acid, iodine, ethanol, quaternary ammonium, glycolic acid, thymol, hydrochloric acid, isopropyl alcohol, phenolic acid, and others. These are some of the chemicals included in a variety of products such as solutions, liquid hand soap, wipes, sanitizers, mists, and more. Hydrochloric acid is also becoming more popular in a variety of medical uses, including virucides, disinfectants, fungicides, and microbicides, among others. As a result, the market is estimated to expand during COVID.

Global Hydrochloric Acid Market Scope

The hydrochloric acid market is segmented on the basis of type, form and application. 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

Hydrochloric acid Market Regional Analysis/Insights

The hydrochloric acid market is analysed and market size insights and trends are provided by country, type, form and application as referenced above.

The countries covered in the hydrochloric acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increasing use of hydrochloric acid in aerospace applications within the region.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, 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 Hydrochloric acid Market Share 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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Frequently Asked Questions

Global Hydrochloric Acid Market segmented By Application such as Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride and Others.
The major players covered in the report SEQUENS, Coogee, Formosa Plastics Corporation, Tessenderlo Group, Westlake Chemical Corporation, Brainerd Chemicals, Ishtar Company LLC, Jones-Hamilton Co., Aditya Birla Chemicals, TOAGOSEI CO., LTD, AGC Chemicals Americas, Olin Corporation, Covestro AG, Occidental Petroleum Corporation, INOVYN (a subsidiary of INEOS), Shin-Etsu Chemical Co., Ltd., BASF SE, UNID, Detrex Corporation (a subsidiary of Italmatch Chemicals S.p.A.), GFS Chemicals, Inc., Vynova Group, Tronox Holdings plc, IXOM, Nouryon, ERCO Worldwide (a subsidiary of Superior Plus) and Evergrow among others. among other domestic and global players.
The Hydrochloric Acid Market is to grow at a CAGR of 5.70% during the forecast by 2029.
The market value for Hydrochloric Acid Market is expected USD 2.96 billion by 2029.