Product Code: PM3179
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, 2023 - 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.
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
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Hydrochloric Acid Market Insights
- 4.1. Hydrochloric Acid Market - End Use Industry Snapshot
- 4.2. Hydrochloric Acid Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing demand for hydrochloric acid from the steel sector
- 4.2.1.2. Increasing people's awareness of the need for wastewater treatment
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Lack of research and development
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Hydrochloric Acid End Use Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Hydrochloric Acid Market, by Grade
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 5.3. Synthetic Grade
- 5.3.1. Global Hydrochloric Acid Market, by Synthetic Grade, by Region, 2019-2032 (USD Million)
- 5.4. By-Product Grade
- 5.4.1. Global Hydrochloric Acid Market, by By-Product Grade, by Region, 2019-2032 (USD Million)
6. Global Hydrochloric Acid Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 6.3. Steel Pickling
- 6.3.1. Global Hydrochloric Acid Market, by Steel Pickling, by Region, 2019-2032 (USD Million)
- 6.4. Oil Well Acidizing
- 6.4.1. Global Hydrochloric Acid Market, by Oil Well Acidizing, by Region, 2019-2032 (USD Million)
- 6.5. Ore Processing
- 6.5.1. Global Hydrochloric Acid Market, by Ore Processing, by Region, 2019-2032 (USD Million)
- 6.6. Food Processing
- 6.6.1. Global Hydrochloric Acid Market, by Food Processing, by Region, 2019-2032 (USD Million)
- 6.7. Pool Sanitisation
- 6.7.1. Global Hydrochloric Acid Market, by Pool Sanitisation, by Region, 2019-2032 (USD Million)
- 6.8. Calcium chloride
- 6.8.1. Global Hydrochloric Acid Market, by Calcium chloride, by Region, 2019-2032 (USD Million)
- 6.9. Biodiesel
- 6.9.1. Global Hydrochloric Acid Market, by Biodiesel, by Region, 2019-2032 (USD Million)
7. Global Hydrochloric Acid Market, by End Use Industry
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 7.3. Food and Beverages
- 7.3.1. Global Hydrochloric Acid Market, by Food and Beverages, By Region, 2019-2032 (USD Million)
- 7.4. Pharmaceuticals
- 7.4.1. Global Hydrochloric Acid Market, by Pharmaceuticals, By Region, 2019-2032 (USD Million)
- 7.5. Textile
- 7.5.1. Global Hydrochloric Acid Market, by Textile, By Region, 2019-2032 (USD Million)
- 7.6. Steel
- 7.6.1. Global Hydrochloric Acid Market, by Steel, By Region, 2019-2032 (USD Million)
- 7.7. Oil & Gas
- 7.7.1. Global Hydrochloric Acid Market, by Oil & Gas, By Region, 2019-2032 (USD Million)
- 7.8. Chemical Industry
- 7.8.1. Global Hydrochloric Acid Market, by Chemical Industry, By Region, 2019-2032 (USD Million)
8. Global Hydrochloric Acid Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Hydrochloric Acid Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Hydrochloric Acid Market - North America
- 8.3.1. North America: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.3.2. North America: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.3.3. North America: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.3.4. Hydrochloric Acid Market - U.S.
- 8.3.4.1. U.S.: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.3.5. Hydrochloric Acid Market - Canada
- 8.3.5.1. Canada: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4. Hydrochloric Acid Market - Europe
- 8.4.1. Europe: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.2. Europe.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.3. Europe: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.4. Hydrochloric Acid Market - UK
- 8.4.4.1. UK: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.4.3. UK: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.5. Hydrochloric Acid Market - France
- 8.4.5.1. France: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.5.2. France.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.5.3. France: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.6. Hydrochloric Acid Market - Germany
- 8.4.6.1. Germany: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.7. Hydrochloric Acid Market - Italy
- 8.4.7.1. Italy: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.8. Hydrochloric Acid Market - Spain
- 8.4.8.1. Spain: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.9. Hydrochloric Acid Market - Netherlands
- 8.4.9.1. Netherlands: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.4.10. Hydrochloric Acid Market - Russia
- 8.4.10.1. Russia: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5. Hydrochloric Acid Market - Asia Pacific
- 8.5.1. Asia Pacific: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5.4. Hydrochloric Acid Market - China
- 8.5.4.1. China: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.4.2. China.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.4.3. China: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5.5. Hydrochloric Acid Market - India
- 8.5.5.1. India: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.5.2. India.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.5.3. India: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5.6. Hydrochloric Acid Market - Malaysia
- 8.5.6.1. Malaysia: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5.7. Hydrochloric Acid Market - Japan
- 8.5.7.1. Japan: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5.8. Hydrochloric Acid Market - Indonesia
- 8.5.8.1. Indonesia: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.5.9. Hydrochloric Acid Market - South Korea
- 8.5.9.1. South Korea: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.6. Hydrochloric Acid Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.6.4. Hydrochloric Acid Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.6.5. Hydrochloric Acid Market - UAE
- 8.6.5.1. UAE: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.6.6. Hydrochloric Acid Market - Israel
- 8.6.6.1. Israel: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.6.7. Hydrochloric Acid Market - South Africa
- 8.6.7.1. South Africa: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.7. Hydrochloric Acid Market - Latin America
- 8.7.1. Latin America: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.7.3. Latin America: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.7.4. Hydrochloric Acid Market - Mexico
- 8.7.4.1. Mexico: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.7.5. Hydrochloric Acid Market - Brazil
- 8.7.5.1. Brazil: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
- 8.7.6. Hydrochloric Acid Market - Argentina
- 8.7.6.1. Argentina: Hydrochloric Acid Market, by Grade, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Hydrochloric Acid Market, by End Use Industry, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Hydrochloric Acid Market, by Application, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. BASF
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Grade Benchmarking
- 10.1.4. Recent Development
- 10.2. Covestro
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Grade Benchmarking
- 10.2.4. Recent Development
- 10.3. Olin Corp
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Grade Benchmarking
- 10.3.4. Recent Development
- 10.4. Westlake Chemical Corp
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Grade Benchmarking
- 10.4.4. Recent Development
- 10.5. Occidental Petroleum Corp
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Grade Benchmarking
- 10.5.4. Recent Development
- 10.6. Formosa Plastics Corp
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Grade Benchmarking
- 10.6.4. Recent Development
- 10.7. Tata Chemicals Ltd
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Grade Benchmarking
- 10.7.4. Recent Development
- 10.8. AGC Chemicals
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Grade Benchmarking
- 10.8.4. Recent Development
- 10.9. ERCO Worldwide
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Grade Benchmarking
- 10.9.4. Recent Development
- 10.10. Detrex Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Grade Benchmarking
- 10.10.4. Recent Development