Hydrochloric Acid Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Type ; By Form ; By Application ; By Distribution Channel ; By End User ; By Region

Description

Global Hydrochloric Acid Market Size Expands to Touch USD 3.2 Billion by 2029

Global hydrochloric acid market is flourishing owing to increasing environmental consciousness, expanding construction, rising investment, and rising R&D and research and development, boosting water treatment activities.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global hydrochloric acid market size at USD 2,016.09 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global hydrochloric acid market size to grow at a CAGR of 6.69% reaching a value of USD 3,159.78 million by 2029. Major growth factors for global hydrochloric acid market include growing utilization of hydrochloric acid and increasing demand for steel in construction industry. Increasing demand for water and wastewater treatment is projected to boost the hydrochloric acid market forward in the coming years. Water and wastewater treatment is the process of increasing the quality of water for final usage. Because of its capacity to neutralize, hydrochloric acid is widely used in water treatment applications. As a result, rising demand for water and wastewater treatment raises the demand for hydrochloric acid. Hydrochloric acid is a caustic irritating acid that exists as an aqueous solution of hydrogen chloride (HCl). In the photographic, textile, rubber, and electroplating industries, it is used to make fertilizers, dyes, and chlorides. Technological developments are a major trend that is gaining traction in the hydrochloric acid market. To achieve a competitive advantage in the hydrochloric acid industry, major players are advancing with new technologies and research & development. These technologies enable the creation of products used by its clients in a wide range of applications, including lithium-ion batteries, smart gadgets, medical device components, lithium-ion engines, and renewable energy installations. Therefore, such factors are expected to boost the expansion of global hydrochloric acid market during the forecast period. However, lack of research and development is anticipated to restrain the overall market growth.

Global Hydrochloric Acid Market - Overview:

Muriatic acid, sometimes referred to as hydrochloric acid, is a mineral acid with the chemical formula HCl that is produced from a variety of inorganic materials. It has an especially potent stench and is colorless in addition to being quite acidic and toxic. The caustic character of hydrochloric acid is due to its ability to dissociate in an aqueous solution. Liquid hydrochloric acid, which is made of hydrogen chloride and water, is one of the most fundamental chlorine-based acidic systems.

Impact of COVID-19 on Global Hydrochloric Acid Market

COVID-19 pandemic affected the market for hydrochloric acid. Rising COVID concerns have prompted a demand for facility and dwelling disinfection in almost every part of the world. This has increased the demand for a wide range of 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 acid, and others. These are some of the compounds found in a wide range of goods, including solutions, liquid hand soap, wipes, sanitizers, mists, and others. Hydrochloric acid is also becoming more popular in a range of medical applications, such as virucides, disinfectants, fungicides, and microbicides. As a result, during COVID, the market is expected to grow.

Global Hydrochloric Acid Market - By End User:

Based on end user, global hydrochloric acid market is divided into Food & Beverages, Steel Industry, Pharmaceuticals, Textiles, Oil & Gas, and Chemical Industry segments. The food and beverages industry accounted for a sizable portion of the hydrochloric acid market revenue. It is used as an acidifier in sauces, vegetable juices, and canned foods to enhance flavor while reducing spoilage. The food industry uses hydrochloric acid to prepare a wide variety of food products, including corn syrups used in soft beverages, cookies, crackers, ketchup, and cereals. The chemical sector is the second fastest-growing segment in the hydrochloric acid business. HCl is used in the production of inorganic and organic compounds, the elimination of metal stains, the extraction of oil, the purification of table salt, and pH regulation. During the regeneration of ion exchange resins, it removes cations from the resins.

Competitive Landscape:

Major players operating in global hydrochloric acid market include Ashland, Arkema, BASF SE, Kemira, The Lubrizol Corporation, NIPPON SHOKUBAI CO. LTD, Dow, Henan Qingshuiyuan Technology CO., Ltd., Aurora Fine Chemicals, Zouping Dongfang Chemical Co., Ltd., ACURO ORGANICS LIMITED, Maxwell Additives Pvt. Ltd, Chemtex Speciality Limited, Polysciences, Inc., PROTEX INTERNATIONAL, and Corporate Evonik. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Hydrochloric Acid Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Hydrochloric Acid Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23107

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Hydrochloric Acid Market Insights

3.1. Industry Value Chain Analysis
- 3.1.1. DROC Analysis
- 3.1.2. Growth Drivers
  - 3.1.2.1. Growing Utilization of Hydrochloric Acid
  - 3.1.2.2. Increasing Demand for Steel in Construction Industry
- 3.1.3. Restraints
  - 3.1.3.1. Lack of Research and Development
- 3.1.4. Opportunities
  - 3.1.4.1. Excessive Laboratory use of Hydrochloric Acid
- 3.1.5. Challenges
  - 3.1.5.1. Adverse Impact
3.2. Technology Advancements/Recent Developments
3.3. Regulatory Framework
3.4. Porter's Five Forces Analysis
- 3.4.1. Bargaining Power of Suppliers
- 3.4.2. Bargaining Power of Buyers
- 3.4.3. Threat of New Entrants
- 3.4.4. Threat of Substitutes
- 3.4.5. Intensity of Rivalry

4. Global Hydrochloric Acid Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
- 4.2.1. By Type
  - 4.2.1.1. Synthetic Hydrochloric Acid
  - 4.2.1.2. By-Type Hydrochloric Acid
- 4.2.2. By Form
  - 4.2.2.1. Water-Based
  - 4.2.2.2. Aqueous
  - 4.2.2.3. Solution
- 4.2.3. By Application
  - 4.2.3.1. Steel Pickling
  - 4.2.3.2. Oil Well Acidizing
  - 4.2.3.3. Ore Processing
  - 4.2.3.4. Food Processing
  - 4.2.3.5. Others
- 4.2.4. By Distribution Channel
  - 4.2.4.1. E-Commerce
  - 4.2.4.2. B2B
  - 4.2.4.3. Specialty Stores
  - 4.2.4.4. Others
- 4.2.5. By End User
  - 4.2.5.1. Food & Beverages
  - 4.2.5.2. Steel Industry
  - 4.2.5.3. Pharmaceuticals
  - 4.2.5.4. Textiles
  - 4.2.5.5. Oil & Gas
  - 4.2.5.6. Chemical Industry
  - 4.2.5.7. Others
- 4.2.6. By Region
  - 4.2.6.1. North America
  - 4.2.6.2. Europe
  - 4.2.6.3. Asia Pacific (APAC)
  - 4.2.6.4. Latin America (LATAM)
  - 4.2.6.5. Middle East and Africa (MEA)

5. North America Hydrochloric Acid Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.2. By Form
- 5.2.3. By Application
- 5.2.4. By Distribution Channel
- 5.2.5. By End User
- 5.2.6. By Country
  - 5.2.6.1. US
  - 5.2.6.1.1. By Type
  - 5.2.6.1.2. By Form
  - 5.2.6.1.3. By Application
  - 5.2.6.1.4. By Distribution Channel
  - 5.2.6.1.5. By End User
  - 5.2.6.2. Canada
  - 5.2.6.2.1. By Type
  - 5.2.6.2.2. By Form
  - 5.2.6.2.3. By Application
  - 5.2.6.2.4. By Distribution Channel
  - 5.2.6.2.5. By End User

6. Europe Hydrochloric Acid Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Form
- 6.2.3. By Application
- 6.2.4. By Distribution Channel
- 6.2.5. By End User
- 6.2.6. By Country
  - 6.2.6.1. Germany
  - 6.2.6.1.1. By Type
  - 6.2.6.1.2. By Form
  - 6.2.6.1.3. By Application
  - 6.2.6.1.4. By Distribution Channel
  - 6.2.6.1.5. By End User
  - 6.2.6.2. UK
  - 6.2.6.2.1. By Type
  - 6.2.6.2.2. By Form
  - 6.2.6.2.3. By Application
  - 6.2.6.2.4. By Distribution Channel
  - 6.2.6.2.5. By End User
  - 6.2.6.3. Italy
  - 6.2.6.3.1. By Type
  - 6.2.6.3.2. By Form
  - 6.2.6.3.3. By Application
  - 6.2.6.3.4. By Distribution Channel
  - 6.2.6.3.5. By End User
  - 6.2.6.4. France
  - 6.2.6.4.1. By Type
  - 6.2.6.4.2. By Form
  - 6.2.6.4.3. By Application
  - 6.2.6.4.4. By Distribution Channel
  - 6.2.6.4.5. By End User
  - 6.2.6.5. Spain
  - 6.2.6.5.1. By Type
  - 6.2.6.5.2. By Form
  - 6.2.6.5.3. By Application
  - 6.2.6.5.4. By Distribution Channel
  - 6.2.6.5.5. By End User
  - 6.2.6.6. The Netherlands
  - 6.2.6.6.1. By Type
  - 6.2.6.6.2. By Form
  - 6.2.6.6.3. By Application
  - 6.2.6.6.4. By Distribution Channel
  - 6.2.6.6.5. By End User
  - 6.2.6.7. Rest of Europe
  - 6.2.6.7.1. By Type
  - 6.2.6.7.2. By Form
  - 6.2.6.7.3. By Application
  - 6.2.6.7.4. By Distribution Channel
  - 6.2.6.7.5. By End User

7. Asia-Pacific Hydrochloric Acid Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Form
- 7.2.3. By Application
- 7.2.4. By Distribution Channel
- 7.2.5. By End User
- 7.2.6. By Country
  - 7.2.6.1. China
  - 7.2.6.1.1. By Type
  - 7.2.6.1.2. By Form
  - 7.2.6.1.3. By Application
  - 7.2.6.1.4. By Distribution Channel
  - 7.2.6.1.5. By End User
  - 7.2.6.2. India
  - 7.2.6.2.1. By Type
  - 7.2.6.2.2. By Form
  - 7.2.6.2.3. By Application
  - 7.2.6.2.4. By Distribution Channel
  - 7.2.6.2.5. By End User
  - 7.2.6.3. Japan
  - 7.2.6.3.1. By Type
  - 7.2.6.3.2. By Form
  - 7.2.6.3.3. By Application
  - 7.2.6.3.4. By Distribution Channel
  - 7.2.6.3.5. By End User
  - 7.2.6.4. South Korea
  - 7.2.6.4.1. By Type
  - 7.2.6.4.2. By Form
  - 7.2.6.4.3. By Application
  - 7.2.6.4.4. By Distribution Channel
  - 7.2.6.4.5. By End User
  - 7.2.6.5. Australia & New Zealand
  - 7.2.6.5.1. By Type
  - 7.2.6.5.2. By Form
  - 7.2.6.5.3. By Application
  - 7.2.6.5.4. By Distribution Channel
  - 7.2.6.5.5. By End User
  - 7.2.6.6. Indonesia
  - 7.2.6.6.1. By Type
  - 7.2.6.6.2. By Form
  - 7.2.6.6.3. By Application
  - 7.2.6.6.4. By Distribution Channel
  - 7.2.6.6.5. By End User
  - 7.2.6.7. Malaysia
  - 7.2.6.7.1. By Type
  - 7.2.6.7.2. By Form
  - 7.2.6.7.3. By Application
  - 7.2.6.7.4. By Distribution Channel
  - 7.2.6.7.5. By End User
  - 7.2.6.8. Singapore
  - 7.2.6.8.1. By Type
  - 7.2.6.8.2. By Form
  - 7.2.6.8.3. By Application
  - 7.2.6.8.4. By Distribution Channel
  - 7.2.6.8.5. By End User
  - 7.2.6.9. Philippines
  - 7.2.6.9.1. By Type
  - 7.2.6.9.2. By Form
  - 7.2.6.9.3. By Application
  - 7.2.6.9.4. By Distribution Channel
  - 7.2.6.9.5. By End User
  - 7.2.6.10. Vietnam
  - 7.2.6.10.1. By Type
  - 7.2.6.10.2. By Form
  - 7.2.6.10.3. By Application
  - 7.2.6.10.4. By Distribution Channel
  - 7.2.6.10.5. By End User
  - 7.2.6.11. Rest of APAC
  - 7.2.6.11.1. By Type
  - 7.2.6.11.2. By Form
  - 7.2.6.11.3. By Application
  - 7.2.6.11.4. By Distribution Channel
  - 7.2.6.11.5. By End User

8. Latin America Hydrochloric Acid Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Form
- 8.2.3. By Application
- 8.2.4. By Distribution Channel
- 8.2.5. By End User
- 8.2.6. By Country
  - 8.2.6.1. Brazil
  - 8.2.6.1.1. By Type
  - 8.2.6.1.2. By Form
  - 8.2.6.1.3. By Application
  - 8.2.6.1.4. By Distribution Channel
  - 8.2.6.1.5. By End User
  - 8.2.6.2. Mexico
  - 8.2.6.2.1. By Type
  - 8.2.6.2.2. By Form
  - 8.2.6.2.3. By Application
  - 8.2.6.2.4. By Distribution Channel
  - 8.2.6.2.5. By End User
  - 8.2.6.3. Argentina
  - 8.2.6.3.1. By Type
  - 8.2.6.3.2. By Form
  - 8.2.6.3.3. By Application
  - 8.2.6.3.4. By Distribution Channel
  - 8.2.6.3.5. By End User
  - 8.2.6.4. Peru
  - 8.2.6.4.1. By Type
  - 8.2.6.4.2. By Form
  - 8.2.6.4.3. By Application
  - 8.2.6.4.4. By Distribution Channel
  - 8.2.6.4.5. By End User
  - 8.2.6.5. Rest of LATAM
  - 8.2.6.5.1. By Type
  - 8.2.6.5.2. By Form
  - 8.2.6.5.3. By Application
  - 8.2.6.5.4. By Distribution Channel
  - 8.2.6.5.5. By End User

9. Middle East & Africa Hydrochloric Acid Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Form
- 9.2.3. By Application
- 9.2.4. By Distribution Channel
- 9.2.5. By End User
- 9.2.6. By Country
  - 9.2.6.1. Saudi Arabia
  - 9.2.6.1.1. By Type
  - 9.2.6.1.2. By Form
  - 9.2.6.1.3. By Application
  - 9.2.6.1.4. By Distribution Channel
  - 9.2.6.1.5. By End User
  - 9.2.6.2. UAE
  - 9.2.6.2.1. By Type
  - 9.2.6.2.2. By Form
  - 9.2.6.2.3. By Application
  - 9.2.6.2.4. By Distribution Channel
  - 9.2.6.2.5. By End User
  - 9.2.6.3. Qatar
  - 9.2.6.3.1. By Type
  - 9.2.6.3.2. By Form
  - 9.2.6.3.3. By Application
  - 9.2.6.3.4. By Distribution Channel
  - 9.2.6.3.5. By End User
  - 9.2.6.4. Kuwait
  - 9.2.6.4.1. By Type
  - 9.2.6.4.2. By Form
  - 9.2.6.4.3. By Application
  - 9.2.6.4.4. By Distribution Channel
  - 9.2.6.4.5. By End User
  - 9.2.6.5. South Africa
  - 9.2.6.5.1. By Type
  - 9.2.6.5.2. By Form
  - 9.2.6.5.3. By Application
  - 9.2.6.5.4. By Distribution Channel
  - 9.2.6.5.5. By End User
  - 9.2.6.6. Nigeria
  - 9.2.6.6.1. By Type
  - 9.2.6.6.2. By Form
  - 9.2.6.6.3. By Application
  - 9.2.6.6.4. By Distribution Channel
  - 9.2.6.6.5. By End User
  - 9.2.6.7. Algeria
  - 9.2.6.7.1. By Type
  - 9.2.6.7.2. By Form
  - 9.2.6.7.3. By Application
  - 9.2.6.7.4. By Distribution Channel
  - 9.2.6.7.5. By End User
  - 9.2.6.8. Rest of MEA
  - 9.2.6.8.1. By Type
  - 9.2.6.8.2. By Form
  - 9.2.6.8.3. By Application
  - 9.2.6.8.4. By Distribution Channel
  - 9.2.6.8.5. By End User

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Hydrochloric Acid Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Hydrochloric Acid Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. Ashland
12.2. Arkema
12.3. BASF SE
12.4. Kemira
12.5. The Lubrizol Corporation
12.6. NIPPON SHOKUBAI CO. LTD
12.7. Dow
12.8. Henan Qingshuiyuan Technology CO., Ltd.,
12.9. Aurora Fine Chemicals
12.10. Zouping Dongfang Chemical Co., Ltd.
12.11. ACURO ORGANICS LIMITED
12.12. Maxwell Additives Pvt. Ltd
12.13. Chemtex Speciality Limited
12.14. Polysciences, Inc.
12.15. PROTEX INTERNATIONAL
12.16. Corporate.Evonik
12.17. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations

*Financial information in case of non-listed companies can be provided as per availability.