Hydrochloric Acid Pricing Report

Hydrochloric Acid Prices December 2023

In the USA, the cost of hydrochloric acid experienced a sharp decline in the last quarter of 2023. This was caused by the manufacturing sector slowing down, which reduced the need for HCl. Furthermore, the nation's indigenous producers aggressively reduced the cost of hydrochloric acid in order to draw in new business and get rid of excess inventory.

The hydrochloric acid price trend in Japan during the last quarter of 2023 took a negative turn. In the middle of the Q4, there was a brief period of price stability as a result of Japanese traders and exporters' calculated decision to preserve profit margins. The decrease in steel demand brought about by the cancellation of building projects throughout Japan also had an effect on the price of HCl.

The last quarter of 2023 saw a mixed performance for Germany's HCl price trends because of a number of factors influencing demand and pricing. Prices decreased at the end of Q4 as a result of year-end discounts, probable decreases in manufacturing activity, and a general drop in inventory levels.

In Saudi Arabia, the price of hydrochloric acid saw a stable to downward trend in the last quarter of 2023. The market's stability was primarily caused by the chlorine sector's decreased cost pressure. In addition, there was a slowdown in the nation's building industry, which led to a drop in HCl prices because of the decreased demand for steel.

Hydrochloric Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Hydrochloric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of hydrochloric acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing hydrochloric acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Hydrochloric Acid Market Analysis

The global hydrochloric acid market size reached US$ 2.4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 3.9 Billion, at a projected CAGR of 5.10% during 2023-2032.

• The hydrochloric acid demand is amplified by its utilization in the oil and gas industry for well stimulation to enhance the flow of oil and natural gas from the reservoirs. According to the Organization of the Petroleum Exporting Countries (OPEC), the global demand for oil is projected to increase by 38 million barrels a day to 115 million barrels a day by 2025. Furthermore, the global energy demand is expected to rise by 15% in 2050 compared to 2021 levels.
• Hydrochloric acid is also becoming increasingly popular in the chemical sector as a raw material for producing chemicals like dichloroethane and vinyl chloride, which are precursors to polyvinyl chloride (PVC). This is further supported by the latest finding of IMARC Group, which predicts that the PVC market is expected to grow by 3.8% between 2024 and 2032, reaching a value of USD 63.7 billion in 2032.
• The hydrochloric acid share in the market is further reinforced by its application in the steel manufacturing process. HCl is used for removing dust and scales from steel surfaces. Steel is a vital component in various industries, including construction, electronics, and automotive. The market for steel is projected to reach US$ 1279 billion by 2032 with a 3.3% growth rate. This is expected to provide an impetus to the demand for chemicals like HCl in steel production.
• In addition, hydrochloric acid production is showing an upward trajectory as a result of its growing use in water treatment processes, where it plays a vital role in pH control. The latest data by World Health Organization (WHO) and UNICEF reveals that 8 out of 10 people do not have access to clean drinking water in rural areas. Furthermore, every year, 1.7 billion cases of diarrhea are reported among children younger than 5 years. These concerning details underscore the importance of hydrochloric acid in ensuring the safety of water for various daily uses, thereby increasing its demand.

Hydrochloric Acid News

The report covers the latest developments, updates, and trends impacting the global hydrochloric acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in hydrochloric acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the hydrochloric acid industry:

• In March 2021, AGC Chemicals announced its plan to integrate 3 chemical units (AGC Chemicals (Thailand) Co., Vinythai Public Co., and AGC Chemicals Vietnam Co.) into a new company to consolidate and promote its chlor-alkali business, which comprises caustic soda, hydrochloric acid, liquid chlorine, caustic potassium, and potassium carbonate, in Thailand, Cambodia, Laos, Myanmar and Vietnam. In this move, AGC plans to retain a 65% stake, while the remainder will be held by companies such as PTT Global Chemical Public Co. Furthermore, under the reorganization, the two Thai companies will be dissolved and the company in Vietnam will be held 78.1% by the new firm.
• In January 2022, BASF SE announced its plan to modernize its entire infrastructure, including the facilities for manufacturing chloroformates and acid chlorides at its Ludwigshafen Verbund site. For this project, the company is planning to invest a low three-digit million euros. This proposed plan will be completed in the course of 2025 and will increase the company’s capacity for these products by around 30% from the current annual capacity of 60000 metric tons.

Product Description

Hydrochloric acid (HCL) is an aqueous solution of hydrogen chloride, which is an acidic gas. It is a colorless, dense, and nonflammable gas with a distinctive pungent and irritating smell. Hydrochloric acid possesses a strong corrosive nature towards metals, tissues, eyes, and the respiratory system.

On a commercial scale, HCL is prepared by reacting sodium chloride (NaCl) with concentrated sulphuric acid (H2SO4). Other methods of preparation involve organic by-product synthesis, waste incineration, and thermal decomposition of hydrated heavy metals.

It is widely used in cleaning, electroplating, leather tanning, pickling, refining, and prediction of a variety of products, such as rubber, pharmaceuticals, and chemicals. Hydrochloric acid is a type of mineral acid that reacts vigorously with organic and inorganic bases, such as amines, amides, metal oxides, and metal hydroxides. It also readily reacts with sulfides, carbides, borides, and phosphides to generate toxic or flammable gases.

Regional Coverage

The report provides a detailed analysis of the hydrochloric acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends. 

Global Hydrochloric Acid Price

The report offers a holistic view of the global hydrochloric acid pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Hydrochloric Acid Price

The European market for hydrochloric acid saw mixed price trends throughout Q4FY23. In the beginning, there was a moderate to low demand for HCl due to a slowdown in the construction sector and unfavorable market sentiments. In the middle of the quarter, the price trend stabilized due to subdued demand from downstream sector and reduction in cost support from chlorine market.

This analysis can be extended to include detailed hydrochloric acid price information for a comprehensive list of countries.

North America Hydrochloric Acid Price

The North American nations witnessed a considerable reduction in the price of hydrochloric acid throughout Q4FY23. It was governed by several factors that were influencing the production and consumption aspects of the industry. For example, the upstream liquid chlorine market experienced a slight slowdown, causing the price of HCl to plummet. On the consumption side, manufacturers faced a minor decrease in demand and weakened purchasing willingness.

Specific data on hydrochloric acid prices within the United States and Canada can also be provided.

Middle East and Africa Hydrochloric Acid Price

The price of HCl in the Middle East and Africa saw a varying trend comprising occasional stability and then decline. This was caused by the limited demand from downstream industry and reduction in cost pressures from the chlorine market. Furthermore, regional manufacturers played an essential role in keeping price stable by creating a consistently steady environment.

In addition to region-wise data, information on hydrochloric acid prices for countries can also be provided.

Asia Pacific Hydrochloric Acid Price

The Asia Pacific region witnessed a decline in the price of hydrochloric acid (HCl) during the fourth quarter of 2023. Regional country like China experienced a bearish sentiment, resulting in decline in HCl prices. Manufacturers also faced a drop in product demand and reduced willingness to purchases, thereby lowering product prices throughout the quarter.

This analysis can be further extended to include detailed hydrochloric acid prices for a comprehensive list of countries within the region.

Latin America Hydrochloric Acid Price

The analysis of hydrochloric acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of hydrochloric acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting hydrochloric acid price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the hydrochloric acid industry.