Hydrochloric acid's significance in pH regulation lies in its ability to act as a strong acid, allowing precise control and adjustment of pH levels in diverse industrial processes. Its acidic nature makes it a crucial tool in water treatment, ensuring optimal pH conditions for effective purification. In chemical reactions, hydrochloric acid is employed to maintain the desired acidity, influencing reaction rates and product formation.
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Data Bridge Market Research analyzes the Global Hydrochloric Acid Market was valued at USD 72.3 million in 2022 and is expected to reach USD 116.9 million by 2030 registering a CAGR of 4.9% during the forecast period of 2023-2030. The widespread use of hydrochloric acid as a crucial raw material in chemical manufacturing is a primary driver for the global hydrochloric acid market. Its integral role in producing essential chemicals such as chlorine, chlorides, and pharmaceuticals significantly contributes to market demand, reflecting the versatile applications and indispensability of hydrochloric acid in various industrial processes.
Key Findings of the Study
Growing pharmaceutical industry is expected to drive the market's growth rate
The growing pharmaceutical industry serves as a substantial driver for the global hydrochloric acid market. Hydrochloric acid plays a vital role in pharmaceutical manufacturing, being a key component in the synthesis of various drugs and pharmaceutical products. Its applications range from adjusting pH levels in drug formulations to serving as a catalyst in specific chemical reactions critical to pharmaceutical synthesis. As the demand for pharmaceuticals continues to rise globally, driven by factors such as population growth, increasing healthcare awareness, and evolving medical needs, the need for hydrochloric acid as a crucial raw material in pharmaceutical production experiences a parallel growth trajectory.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Synthetic Hydrochloric Acid, By-Product Hydrochloric Acid), Form (Water-Based, Aqueous, Solution), Application (Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride, Others), Distribution Channel (E-Commerce, B2B, Specialty Stores, Others), End-User (Food and Beverages, Steel Industry, Pharmaceuticals, Textile, Oil and Gas, Chemistry Industry, Others)
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Countries Covered
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U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
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Market Players Covered
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Ashland (U.S.), Arkema (France), BASF SE (Germany), Kemira (Finland) , The Lubrizol Corporation (U.S.), NIPPON SHOKUBAI CO. LTD (Japan), Dow (U.S.), Henan Qingshuiyuan Technology CO., Ltd., (China), Aurora Fine Chemicals (U.S.), Zouping Dongfang Chemical Co., Ltd. (China), ACURO ORGANICS LIMITED (U.S.), Maxwell Additives Pvt. Ltd (India), Chemtex Speciality Limited (India), Polysciences, Inc.(U.S.), PROTEX INTERNATIONAL (France), Corporate.Evonik (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global hydrochloric acid market is segmented on the basis of type, form, application, distribution channel and end-user.
- On the basis of type, the global hydrochloric acid market is segmented into synthetic hydrochloric acid and by-product hydrochloric acid. The synthetic hydrochloric acid segment is expected to dominate the global hydrochloric acid market with 68.73% market share due to its controlled and consistent production process, ensuring high purity levels and specific chemical properties
- On the basis of form, the global hydrochloric acid market is segmented into water-based, aqueous and solution. The aqueous segment is expected to dominate the global hydrochloric acid market with 76.14% of the market share due to its versatility and ease of use, making it a preferred choice across various industries for applications ranging from chemical manufacturing to metal cleaning and processing
The aqueous segment of form segment is expected to dominate the global hydrochloric acid market during the forecast period of 2023-2030
The aqueous segment of form segment is expected to dominate the in the global hydrochloric acid market with 76.14% market share due to its versatile and widely applicable form. Aqueous hydrochloric acid refers to a solution where hydrogen chloride is dissolved in water, creating a highly effective and stable acid solution. This form is preferred across various industries for its ease of handling, consistent concentration, and diverse applications, ranging from chemical manufacturing to metal processing.
- On the basis of end-user, the global hydrochloric acid market is segmented into food and beverages, pharmaceuticals, textile, oil and gas, chemistry industry and others. The food and beverages segment is expected to dominate the global hydrochloric acid market by 27.70% of the market share due to its widespread use in food processing for pH regulation, neutralization, and as an essential ingredient in various food products
- On the basis of distribution channel, the global hydrochloric acid market is segmented into e-commerce, B2B, specialty stores and others. B2B segment is expected to dominate the global hydrochloric acid market with 71.38% market share due to the industrial nature of hydrochloric acid applications
- On the basis of application, the global hydrochloric acid market is segmented into steel pickling, oil well acidizing, ore processing, food processing, pool sanitation, calcium chloride and others. The food processing segment is expected to dominate the global hydrochloric acid market with 27.61% market share due to its integral role in the production of various food products
The food processing segment of application segment is expected to dominate the global hydrochloric acid market during the forecast period of 2023-2030
The food processing segment of application segment is expected to dominate the global hydrochloric acid market with 27.61% market share due to its essential role in various food-related applications. Hydrochloric acid is commonly used in the production of additives, such as corn syrup and citric acid, contributing to the food industry's demand. Its application extends to pH control, water treatment, and the production of food-grade salts. The stringent quality standards in food processing necessitate the use of high-purity chemicals, further driving the demand for hydrochloric acid in this sector. As the global food industry continues to grow, the reliance on Hydrochloric Acid for diverse applications within food processing is expected to remain prominent.
Major Players
Data Bridge Market Research recognizes the following companies as the major global hydrochloric acid market players in global hydrochloric acid market are Ashland (U.S.), Arkema (France), BASF SE (Germany), Kemira (Finland) , The Lubrizol Corporation (U.S.), NIPPON SHOKUBAI CO. LTD (Japan), Dow (U.S.), Henan Qingshuiyuan Technology CO., Ltd., (China), Aurora Fine Chemicals (U.S.)
Market Developments
- In February 2022, Westlake Chemical Corporation successfully acquired Hexion Inc., a prominent U.S.-based chemical manufacturer specializing in specialized products, associated technology, and thermosetting polymers compatible with hydrochloric acids. This strategic move is poised to significantly enhance Westlake's position in the hydrochloric acid market. The acquisition provides Westlake with access to a diverse downstream range of coatings and composite products, marking a substantial expansion in its integrated business. As a result, Westlake is expected to capitalize on Hexion's expertise and product portfolio to strengthen its presence in the hydrochloric acid market
- In January 2022, BASF initiated a major modernization effort for the Ludwigshafen Verbund Sites infrastructure, particularly focusing on facilities for producing acid chlorides and chloroformates. This investment, totaling in the low-thirty million euros, is projected to triple the production capacity at the Ludwigshafen location. The expansion, scheduled for completion by 2025, positions BASF as a key player in the global chloroformates, acid chlorides, and alkali chlorides market. The move underscores BASF's commitment to meeting the growing demand for these essential chemicals and solidifies its influence in the hydrochloric acid market
- In August 2021, Occidental Petroleum Corporation ceased operations at its Niagra Falls plant, a facility responsible for producing chlorine, hydrochloric acid, sodium hypochlorite, and caustic soda. This closure impacted the hydrochloric acid market by reducing the supply of these critical chemicals. Occidental Petroleum Corporation's decision reflects the dynamic nature of the industry, with companies adapting their production capabilities based on market conditions and strategic priorities
- In March 2021, AGC implemented a significant restructuring initiative, integrating and reorganizing its three Chlor-Alkali companies in Thailand and CLMV Markets. This move involved dissolving three separate entities and merging them into a unified company. The restructuring is indicative of AGC's commitment to optimizing its operations and streamlining its presence in the hydrochloric acid market. The reshaped entity is positioned to operate more efficiently and respond effectively to market demands
- In October 2020, PVS Chloralkali Inc., a subsidiary of PVS Chemicals Inc., entered into a strategic collaboration with Univar Solutions Inc., a global distributor of chemicals. The agreement involved the transfer of railcars in Ohio, Illinois, and Virginia, along with sourcing contracts for hydrochloric acid (HCL) from PVS to Univar Solutions. This collaboration expanded Univar Solutions' extensive and reliable network for its HCL business in North America, showcasing the significance of partnerships in shaping the dynamics of the hydrochloric acid market
Regional Analysis
Geographically, the countries covered in the global hydrochloric acid market report are U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in global hydrochloric acid market during the forecast period 2023-2030
North America is expected to dominate the hydrochloric acid market, primarily driven by the growing utilization of hydrochloric acid in aerospace applications within the region. This dominance can be attributed to the extensive use of hydrochloric acid in processes such as metal cleaning, surface treatment, and pickling in the aerospace industry. The acid's corrosive properties make it an effective solution for removing oxides and scales from metal surfaces, crucial in preparing materials for aerospace manufacturing. As North America continues to be a hub for aerospace innovation and production, the demand for hydrochloric acid in this sector is expected to remain high, solidifying the region's dominance in the global market.
Asia-Pacific is estimated to be the fastest growing region in global hydrochloric acid market the forecast period 2023-2030
The Asia-Pacific is expected to experience substantial growth from 2023 to 2030, primarily attributed to a heightened focus on research and development in the defense and aerospace sectors. Emerging economies within the region, including India, China, and South Korea, are directing significant investments to advance their technological capabilities. The escalating geopolitical significance of the region is driving nations to prioritize innovation in defense technologies, such as missile systems, UAVs, radar systems, and satellite technology. The anticipated growth presents ample market opportunities for companies specializing in defense and aerospace, while international collaborations and partnerships are likely to play a crucial role in accelerating advancements.
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