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Hydrochloric Acid Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4006

Global hydrochloric acid market size is estimated to depict lucrative growth over 2022-2028. This rise is mainly on account of surging product application across the food industry for the processing of numerous items comprising crackers, cookies, and corn syrups. The chemical is also utilized in the production of a range of chemicals comprising ammonium chloride, tin, phosphoric acid, vinyl chloride, chlorides, and others. Additional hydrochloric acid uses include the production of batteries, fireworks, photoflash bulbs, and others.

On the basis of type, the market is bifurcated into synthetic hydrochloric acid and by-product hydrochloric acid. Of these, the synthetic hydrochloric acid segment is anticipated to account for a considerable percentage of the overall hydrochloric acid market share through 2028. The product constitutes an aqueous solution of a typical acidic substance and hydrogen chloride. Owing to its ease of handling, the solution is extensively used in pH adjustment and neutralizing and as raw material for industrial foods and chemicals, as well as for the surface treatment of metals.

Based on end-use, the hydrochloride acid market is set to register commendable revenue from the steel industry, where the product is utilized for pickling operations for stainless, alloy, and carbon steels. The process involves the removal of iron oxides and scale from the steel surface through the conversion of oxides to soluble compounds. Pickling is needed for steel products that undergo further processing including coating of sheet and strip, wire production, and tin mill products. The compound is predominantly used in continuous operations where hot-rolled strip steel is passed via a countercurrent flow of acid solution.

Considering the regional landscape, the Asia Pacific hydrochloric acid market is poised to witness substantial expansion through 2028, driven by an increase in the establishment of production facilities across various countries. Citing an instance, in October 2021, Evonik and Wynca inaugurated China’s new fumed silica unit in the Zhejiang New Material Industry Park. The new site will provide high-value fumed silica products and the by-product hydrochloric acid will be utilized as a raw material by Wynca’s unit.

Leading players across the hydrochloric acid industry include Compound Solutions Inc., Qingdao Henley Co., Ltd., AkzoNobel N.V., Brainerd Chemical Co, Inc., Eco-Tec, and others. These players are focusing on the adoption of expansion strategies including mergers, acquisitions, product developments, collaborations, and partnerships for expanding their geographical footprint and increasing product penetration across various regions.

For instance, in September 2021, SGL Carbon announced its delivery of a hydrochloric acid synthesis unit with combined steam generation to TCCL (Travancore-Cochin Chemicals Ltd)., which is a key company in the chlor alkali business across South India.

Analysis of COVID-19 impact on hydrochloric acid market value

The increasing COVID concerns have stimulated the demand for the disinfection of premises and homes in almost all parts of the world. This has been instrumental in propelling the requirement for numerous chemicals including ethyl alcohol, lactic acid, chlorine dioxide, sodium chloride, hydrogen peroxide, citric acid, iodine, ethanol, quaternary ammonium, glycolic acid, thymol, hydrochloric acid, isopropyl alcohol, phenolic, and others.

These are a few ingredients that are present in a range of products including solutions, liquid hand wash, wipes, sanitizers, mists, and others. Additionally, the demand for hydrochloric acid is also increasing in a range of applications in the medical field including virucides, disinfectants, fungicides, and microbicides among others.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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