Hydrochloric Acid Market Size Worth $4,669.24 Million By 2032 | CAGR: 6.4%

Hydrochloric Acid Market Size Worth $4,669.24 Million By 2032 | CAGR: 6.4%

The global hydrochloric acid market size is expected to reach USD 4,669.24 million by 2032, according to a new study by Polaris Market Research. The report “Hydrochloric Acid Market Share, Size, Trends, Industry Analysis Report, By Grade (Synthetic, By-Product); By Application Type; By End Use Industry; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing demand for high-grade by-products in various industries is driving the growth of the hydrochloric acid market. Hydrochloric acid in food processing as a pH regulator, preservative, and sterilizing agent drives the market's growth. The demand for hydrochloric acid in the steel industry for the pickling and cleaning of steel also contributes to the market's growth. The growing demand for hydrochloric acid in Asia, particularly in countries such as China and India, is driving the market's growth. The increasing demand for chemicals, particularly in the agriculture and construction industries, contributes to the market's growth.

The market for hydrochloric acid has a lot of potentials to grow due to market participants doing R&D for application development because of increased investment in the oil and gas and mining industries. In addition, improvements in the chemical production industry are anticipated to accelerate market growth for muriatic acid over the forecast period. The demand for steel and related products is rising along with the expansion of the building and automobile industries. This is the primary driver of the increase in the usage of hydrochloric acid for pickling steel alloys and stainless steel. The market is benefiting from the expansion of industrialization and the chemical industry's hydrochloric market, investing significantly more in the pharmaceutical sector, where catalysis, pH control, and other uses of hydrochloric acid.

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Over the anticipated timeframe, the global market is expected to grow due to increased demand from industries like water treatment, food processing, and oil & gas. Additionally, increasing HCl use in the steel and pharmaceutical industries is projected to fuel the hydrochloric acid industry in the coming years. The rising demand for chemicals from the steel industry primarily drives the market. In the steel business, HCl is used to clean iron oxide and scale off steel surfaces. The hydrochloric acid market will expand due to the rising demand for steel from various sectors.

Hydrochloric Acid Market Report Highlights

  • By-Product Type is anticipated to grow owing to increasing demand for higher-quality grades of hydrochloric acid in certain end-use industries, such as the electronics or pharmaceuticals Industries.
  • The Food Processing segment accounted for the higher growth rate owing to the increasing demand for processed and packaged food, coupled with the growing demand for meat and poultry products.
  • Steel end use industry is projected to experience significant growth rate due to the increasing demand for steel products in construction and manufacturing industries, particularly in emerging economies.
  • Asia Pacific is expected to grow at a significant growth rate owing to the increase in construction activities, resulting in higher demand for steel and other construction materials in this region.
  • The global players include BASF SE, Covestro, Olin Corp., Westlake Chemical Corp., Occidental Petroleum, Formosa Plastics, Tata Chemicals, AGC Chemicals, ERCO Worldwide & Detrex Corporation.

Polaris Market Research has segmented the hydrochloric acid market report based on grade, application, end use industry and region:

Hydrochloric Acid, Grade Outlook (Revenue - USD Million, 2019 - 2032)

  • Synthetic Grade
  • By-Product Grade

Hydrochloric Acid, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Steel Pickling
  • Oil Well Acidizing
  • Ore Processing
  • Food Processing
  • Pool Sanitization
  • Calcium chloride
  • Biodiesel

Hydrochloric Acid, End Use Industry Outlook (Revenue - USD Million, 2019 - 2032)

  • Food and Beverages
  • Pharmaceuticals
  • Textile
  • Steel
  • Oil & Gas
  • Chemical Industry

     Hydrochloric Acid, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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