Global Hydrochloric Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global hydrochloric acid market in its upcoming report titled, “Global Hydrochloric Acid Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global hydrochloric acid market is estimated to register a CAGR of XX.X% during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the hydrochloric acid market, their financials, supply chain trends, products and related technological innovations, key developments, apart from current and future strategies, acquisitions & mergers, and market footprint. The global hydrochloric acid market report has been segmented on the basis of application, end-use industry, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various reliable sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make more accurate and informed forecasts about the market scenario in future.
Hydrochloric acid (HCl) is a chlorine based acid with a pungent smell, and is hazardous for skin. It is a primary reagent used for acidifying. It is produced by four basic methods including the combination of hydrogen and chlorine; the chlorination of organic chemicals; the salt-sulfuric acid production process and as a co-product during silica manufacturing.
A major factor driving growth of the global market is increasing demand from water treatment plant, oil & gas, and food industries. Increasing use of HCl use in steel and pharmaceutical industry is primarily expected to boost growth of the market. Major HCl end use includes ore processing, calcium chloride & ethyl dichloride production. Increasing adoption of hydrochloric acid in various chemical industries is another major factor expected to propel growth of the global market in the next coming years.
However, stringent government regulations are major factors restraining growth of the target market. In addition, uncertainty in supply of raw materials, which can result into volatility in their prices, leading to increased price of hydrochloric acid is also expected to challenge growth of the market. Rising demand from leather, and oil and gas industry is a trend for the target market.
The Asia Pacific hydrochloric acid market accounts for major share in terms of revenue in the global market and is expected to maintain its dominance in next few years, owing to increasing demand from end-use industries in countries in the region. China, India and Indonesia are the major contributor in Asia Pacific region. North America market is expected to grow at a significant rate during the forecast period, followed by Europe. The market in Asia Pacific is expected to register a significant CAGR in the next 10 years. Moreover, the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period, followed by the market in Latin America.
Global Hydrochloric Acid Market Segmentation:
Segmentation on the basis of application:
- Steel pickling
- Oil well acidizing
- Calcium chloride
- Brine treating
Segmentation on the basis of end-use industry:
- Oil & gas
- Others (chemical and agricultural)
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- The Dow Chemical Company
- BASF SE
- AGC Chemicals Co., Ltd.
- Basic Chemical Solutions, LLC
- Brainerd Chemical Co, Inc.
- Akzo Nobel Industrial Chemicals B.V.
- Qingdao Henley Co., Ltd.
- Compound Solutions Inc.
- International Petrochemicals Pvt. Ltd.
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