The global hydrochloric acid market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028. The extensive utilization of hydrochloric acid for water treatment, augmenting product demand from the steel industry, and production of household cleaners represent some of the factors driving the market.
Hydrochloric acid (HCl) refers to a strong, colorless, highly corrosive, and inorganic acid. It is made up of hydrogen and chlorine and has a pungent smell. This acid is considered a common laboratory reagent and finds extensive utilization in various industrial procedures. It is soluble in water and can release hydrogen ions, thus making it a strong acid with a low pH. HCl is strong enough to dissolve various metals, such as zinc, iron, and magnesium. It is produced through four methods, such as co-product in the production of silica and chemicals, combining hydrogen and chlorine, chlorination of organic compound, and salt-sulfuric acid production procedure. Today, there has been escalating product demand as it is utilized as a descaling agent in industries, an additive in the food industry to produce gelatin, and for the production of polyvinyl chloride and leather.
Hydrochloric Acid Market Trends:
One of the primary factors driving the market is the augmenting product demand from numerous end-use industries, such as steel pickling, chemical manufacturing, and food processing. Additionally, the wide employment of hydrochloric acid in the oil and gas industry for well acidizing and oil well stimulation procedures to improve the production of oil and gas is creating a positive market outlook. Other than this, HCl is also employed for manufacturing batteries, light bulbs and fireworks, and in the pharmaceutical industry to produce various drugs and medications. Furthermore, HCl is used in the food processing industry as a cleaning agent for equipment and facilities and for pH control. In line with this, the extensive utilization of hydrochloric acid in laboratories for performing numerous experiments is propelling the market growth. HCl is also employed for the production of calcium chloride, which is widely employed in industrial processing, concrete treatment, tire ballasting, and oil recovery. Apart from this, hydrochloric acid is used to produce organic chemicals, such as polycarbonate resins, p-phenylenediamine, polyvinyl chloride resins, ethanol, and bisphenol-A, which is catalyzing the market growth. Moreover, numerous research and development (R&D) activities by key players and advancements in production technologies to produce HCl in an easier and more cost-effective way are propelling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global hydrochloric acid market report, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on grade, application, and end user.
- Synthetic Grade
- By-Product Grade
The report has provided a detailed breakup and analysis of the hydrochloric acid market based on the grade. This includes synthetic and by-product grades. According to the report, synthetic grade represented the largest market share.
- Steel Picking
- Oil Well Acidizing
- Ore Processing
- Food Processing
- Pool Sanitation
- Calcium Chloride
A detailed breakup and analysis of the hydrochloric acid market based on the application has also been provided in the report. This includes steel picking, oil well acidizing, ore processing, food processing, pool sanitization, calcium chloride, biodiesel, and others.
End User Insights:
- Food and Beverages
- Oil and Gas
- Chemical Industry
A detailed breakup and analysis of the hydrochloric acid market based on the end user has also been provided in the report. This includes food and beverages, pharmaceuticals, textile, steel, oil and gas, chemical industry, and others.
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for hydrochloric acid. Some of the factors driving the Asia Pacific hydrochloric acid market included significant growth in chemical industry due to rising population, rapid urbanization and industrialization, growing demand for processed food and pharmaceuticals, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global hydrochloric acid market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies include AGC Chemicals, BASF SE, Detrex Corporation (Italmatch USA Corporation), Dongyue Group, Erco Worlwide Inc. (Superior Plus LP), Ercross SA, Merck KGaA, Occidental Petroleum Corporation, Olin Corporation, PCC Group, Vynova Group, Westlake Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Hydrochloric Acid Market Report Scope:
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- End User
||Synthetic grade, By-product grade
||Steel picking, Oil well acidizing, Ore processing, Food processing, Pool sanitation, Calcium chloride, Biodiesel, Others
|End Users Covered
||Food and beverages, Pharmaceuticals, Textile, Steel, Oil and gas, Chemical Industry, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AGC Chemicals, BASF SE, Detrex Corporation (Italmatch USA Corporation), Dongyue Group, Erco Worlwide Inc. (Superior Plus LP), Ercross SA, Merck KGaA, Occidental Petroleum Corporation, Olin Corporation, PCC Group, Vynova Group, Westlake Corporation, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global hydrochloric acid market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global hydrochloric acid market?
- What is the impact of each driver, restraint and opportunity on the global hydrochloric acid market?
- What are the key regional markets?
- Which countries represent the most attractive hydrochloric acid market?
- What is the breakup of the market based on the grade type?
- What is the most attractive grade type in the hydrochloric acid market?
- What is the breakup of the market based on the application?
- What is the most attractive application type in the hydrochloric acid market?
- What is the breakup of the market based on the end user?
- What is the most attractive end user type in the hydrochloric acid market?
- What is the competitive structure of the global hydrochloric acid market?
- Who are the key players/competitors in the hydrochloric acid market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the hydrochloric acid market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global hydrochloric acid market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within hydrochloric acid industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.