Hydrochloric Acid Market to grow by USD 978.77 million between 2024-2028
According to a research report “ Hydrochloric Acid Market” by End-user (Food, Steel, Oil, Chemicals, Ore processing and others) Grade Type (By-product grade, Synthetic grade) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 978.77 million at a CAGR of 6.12% during the forecast period. Hydrochloric acid plays a crucial role in the production of vinyl chloride monomer (VCM), a key raw material for manufacturing Polyvinyl Chloride (PVC). This inorganic compound, derived from industrial-grade salt and oil or gas, accounts for approximately 50% of VCM production. Hydrochloric acid's primary function is to facilitate the chlorination process in the production of dichloroethane, which subsequently undergoes oxidation to produce vinyl chloride. The resulting PVC exhibits desirable properties such as fire retardancy, oil and chemical resistance, and high mechanical strength, making it a preferred choice in major industries like automotive, construction, packaging, electrical and electronics..
Browse market data tables, figures, and in-depth TOC on “Hydrochloric Acid Market” by End-user (Food, Steel, Oil, Chemicals, Ore processing and others) Grade Type (By-product grade, Synthetic grade) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028.
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By End-user, the Food segment is projected to dominate the market size in 2024.
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By Grade Type, By-product grade segment is expected to hold the largest market size for the year 2024.
In the food industry, hydrochloric acid plays a pivotal role as a processing agent. Notably, it is extensively utilized in the production of high-fructose corn syrup (HFCS), a major ingredient in soft drinks. Hydrochloric acid is employed to regenerate ion exchange resins, which purify HFCS by eliminating impurities. Additionally, it is used to acid-modify cornstarch and adjust pH levels in intermediates, final products, and wastewater. Beyond HFCS, hydrochloric acid finds application in the manufacturing of soy sauce and hydrolyzed vegetable protein.
APAC is forecasted to hold the largest market size by region in 2024.
The APAC region, led by China, represents the largest market for hydrochloric acid globally in 2023. China's dominance in the APAC hydrochloric acid market is driven by its significant consumption for PVC production, given its role as a major consumer and producer in the region. The expanding scope of PVC applications is projected to boost hydrochloric acid demand throughout the forecast period. Additionally, China's substantial steel production contributes to the market's growth.
The Hydrochloric Acid Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
In the realm of industrial processing, various sectors including steel pickling operations, ore processing, oil well acidizing, and mining, rely heavily on the utilization of hydrochloric acid. This versatile chemical is integral to the production of crude steel, as well as the pickling process of stainless steel and pickling steel alloys. Hydrochloric acid is employed to neutralize rust and control pH levels during the crucial stages of industrialization. Moreover, in the food processing industry, hydrochloric acid is used for specific applications due to its acidic properties. In the mining sector, hydrochloric acid is employed for ore processing to enhance the extraction of valuable minerals. Calcium chloride, another industrial chemical, is often used in conjunction with hydrochloric acid for various applications, including pH control and neutralization. The hydrochloric acid market experiences significant demand due to its extensive usage in diverse industries. Environmental pollution concerns have led to stringent regulations regarding the storage and transport of hydrochloric acid, further driving the need for innovative solutions to ensure safe handling and disposal.
Market Research Overview
The Hydrochloric Acid market plays a significant role in various industries, including Food & Beverages, Oil & Gas, and Chemicals. This mineral acid, with the chemical formula HCl, is widely used for pickling steel alloys in the Steel industry, as well as in the acidifying of oil wells for Oil exploration and Oil recovery. Hydrochloric Acid is also employed in the Neutralization and pH control processes in Water & Wastewater treatment. In the Oil & Gas sector, it is used for the removal of Iron oxide scales, rust, and other corrosion-causing oxides. Additionally, Hydrochloric Acid is utilized in the Mining sector for the acidifying of oil wells and the processing of Ores. The production of Inorganic compounds, such as Calcium chloride, also relies on Hydrochloric Acid. However, the usage of Hydrochloric Acid comes with environmental concerns, including Hazardous Waste and Environmental Impacts. Regulations on its usage are stringent, and companies must adhere to these guidelines to minimize Climate Chain Scenarios.
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