In an evolving global landscape where sustainability, efficiency, and multifunctionality are highly sought after, the Hydrochloric Acid market presents a formidable value proposition. Boasting widespread industrial applications from the food sector to the construction industry, this versatile compound is a significant player in diverse markets. The Hydrochloric Acid market, currently standing at around 14800 thousand tonnes, is primed for consistent growth over the forecast period, underpinned by its ubiquitous utilization across different industry sectors.
Driven by innovations, collaborations, and sustainable practices from industry leaders like Dow Chemical, the market continues to expand its horizons. With North America at the forefront, the growing demand for Hydrochloric Acid stems from its integral role in processes such as steel pickling, food preservation, leather tanning, and synthesis of both organic and inorganic compounds. In particular, its application in the food industry for enhancing flavor, preserving products, and manufacturing corn syrup highlights its critical role in everyday life. This comprehensive market research report provides an in-depth analysis of the Hydrochloric Acid market, considering the pivotal role it plays across multiple industries. Obtain a concise overview of the market forecast, geographical distribution, end-uses, and the competitive landscape to make informed strategic decisions and leverage the numerous opportunities this market offers.
The global Hydrochloric Acid market has reached around 14800 thousand tonnes in 2021 and is expected to grow at a CAGR of 4.16% during the forecast period until 2032. Dow Chemical is one of the leading producers of Hydrochloric Acid. Recently, Dow Chemical is making collaborations with Pack Studios for sustainable packaging to reduce harmful impact on environment as a part of CSR on 25 years completion.
The Global Hydrochloric Acid Market Has Reached Around 14800 Thousand Tonnes in 2021 and is Expected to Grow at a CAGR of 4.16% During the Forecast Period Until 2032
Hydrochloric acid is produced as a by-product during the manufacturing of certain chemicals. These chemicals include chlorinated solvents, isocyanates, organics, fluorocarbons, magnesium, and vinyl chloride monomer. Another method is by direct reaction of Hydrogen and Chlorine. Different grades of Hydrochloric acid are used in the Manufacturing, Food and Pharmaceutical Industries. This Acid is used in production of organic and inorganic compounds, cleaning agent, fertilizers, dyes, pickling steel, tanning leather, electroplating, rubber, etc.
The global Hydrochloric acid consumption is expected to reach around 23170 thousand tonnes by 2032. In the future, the demand for Hydrochloric acid is expected to increase due to its multiple applications. Especially, due to the preservative and acidifying properties of Hydrochloric Acid in the Food Industry, there is an expected to increase in consumption of Hydrochloric Acid in the forecast period.
The dominating region that demands the most significant volume of Hydrochloric Acid is North America. The growth in market for hydrochloric acid as a result of the expanding construction sector which requires hydrochloric acid for steel pickling purposes. The market is anticipated to grow due to the rising demand for HCl from the food and beverage industries in which this acid is employed for manufacturing of corn syrup. USA is leading as the producer of Hydrochloric Acid on a global level and is anticipated to dominate the market in the forecast period as well.
The Hydrochloric Acid market is segmented into sectors based on the end-use into Food, Dyes, Pigments and Paints, Steel Pickling, Calcium Chloride, Water Treatment and Others. However, Food industry is the biggest end-user market of Hydrochloric Acid, expected to hold a share of approximately 26%. A wide range of food products, including corn syrups used in biscuits, cold drinks, and cereals, are processed by the food industry using hydrochloric acid. To improve flavor and prevent food from decomposition, hydrochloric acid is also employed as an acidifier in sauces and canned goods. Another impressive growth in usage of Hydrochloric Acid for the synthesis of Calcium Chloride. Calcium Chloride has various applications such as a de-icing agent, ingredient in concrete, beer brewing, and canned vegetables. Moreover, Steel Pickling Industry holds prominent shares in the usage of Hydrochloric Acid in the market. Hydrochloric acid eliminates iron oxide deposits from iron before going through processing steps like extrusion, galvanizing, and rolling; thus, acts as an important chemical in the construction sector.
Significant companies for Global Hydrochloric acid are Dow Chemical, BASF SE, Qingdao Haijing Chemical (Group) Co., Ltd., Gujarat Alkali & Chemicals Limited., Akzo Nobel N.V., DCM Shriram, HF Chlor-Alkali LLC, and Others.
Years considered for this report:
- Historical Period: 2015- 2021
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2032
The objective of the Study:
- To assess the demand-supply scenario of Hydrochloric Acid, which covers the production, demand, and supply of Hydrochloric Acid around the globe.
- To analyze and forecast the market size of Hydrochloric Acid.
- To classify and forecast the Global Hydrochloric Acid market based on end-use and regional distribution.
- To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Hydrochloric Acid market.
The publisher calculated Hydrochloric Acid demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Hydrochloric Acid. The publisher sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by the publisher.
Key Target Audience:
- Hydrochloric Acid manufacturers and other stakeholders
- Organizations, forums, and alliances related to Hydrochloric Acid distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
Report Scope:In this report, Global Hydrochloric Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market by End-use: Food, Dyes, Pigments and Paints, Steel Pickling, Calcium Chloride, Water Treatment and Others
- Market by Sales Channel: Direct Sale and Indirect Sale
- Market by Grade: Industrial, Food and Pharmaceutical Grade
- Market by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Available Customizations:With the given market data, the publisher offers customizations according to a company’s specific needs.
Table of Contents
- On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Hydrochloric Acid.
- To better understand the regional supply of Hydrochloric Acid by analyzing its manufacturers' location-based capacity.
- To better assess the manufacturing capacities with different technologies as well as understand which technology is more in demand.
- Study the historical annual production of Hydrochloric Acid by the leading players and forecast how it will grow in the coming years.
- Discover which end-user industry (Food, Dyes, Pigments and Paints, Steel Pickling, Calcium Chloride, Water Treatment and Others) are creating a market and the forecast for the growth of the Hydrochloric Acid market.
- Analyzing the change in demand of Hydrochloric Acid in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
- Multiple channels are used to sell Hydrochloric Acid. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
- To understand which grades are more in demand for the targeted chemicals and the quantity in which they are being consumed in the target country.
- Determine the supply-demand gap to gain information about the trade surplus or deficiency of Hydrochloric Acid.
- Figure out what proportion of the market share of Hydrochloric Acid is currently held by leading players across the globe.
- Get details about quantity of Hydrochloric Acid exported by major countries.
- Get details about quantity of Hydrochloric Acid imported by major countries.
- Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.