Hydrochloric Acid Market size to grow by USD 978.77 million between 2023 to 2028 | AGC Inc., BASF SE, Coogee, and more among key companies- Technavio

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Oct 31, 2023, 14:45 ET

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- The Hydrochloric Acid Market size is expected to increase by USD 978.77 million, accelerating at a CAGR of 6.12% during the forecast period, according to Technavio's market research analysis. Growing demand for PVC is notably driving the hydrochloric acid market. However, factors such as availability of substitutes for hydrochloric acid may impede market growth. We provide a detailed analysis of 20 companies operating in the hydrochloric acid market including AGC Inc., BASF SE, Coogee, Covestro AG, ERCO Worldwide, FSTI Inc., INOVYN Europe Ltd., Italmatch Chemicals Spa, Jones Hamilton Co., Kemira Oyj, Merck KGaA, Occidental Petroleum Corp., Olin Corp., PCC SE, Qingdao Hisea Chem Co. Ltd., Shiva Group, SPOLANA s.r.o., Tessenderlo Group NV, W.K. Merriman Inc., and Westlake Corp..The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request Sample Report

Technavio has announced its latest market research report titled Global Hydrochloric Acid Market 2024-2028

Hydrochloric Acid Market 2024-2028: Company Analysis

AGC Inc.: The company offers hydrochloric acid which is a strong acid product with acute toxicity and corrosivity.

This report provides a full list of key companies, their strategies, and latest developments. Buy the report now for detailed company information

Hydrochloric Acid Market 2024-2028: Segmentation

End-user

Food
Steel
Oil
Chemicals
Ore processing and others

Grade Type

By-product grade
Synthetic grade

The food segment is expected to experience substantial growth during the forecast period. Hydrochloric acid helps in the processing of various food products. For instance, it is used in the production of corn syrup, including high fructose corn syrup (HFCS), which is primarily utilized in the manufacturing of beverages. A significant portion of hydrochloric acid within the HFCS industry is dedicated to the regeneration of ion exchange resins. These resins are essential for eliminating impurities from the production process.

Geography

APAC
North America
Europe
Middle East and Africa
South America

The Asia-Pacific (APAC) region is expected to make a substantial 68% contribution to the global market's growth during the forecast period. China stands out as the primary consumer of hydrochloric acid in the region, primarily driven by its increasing need for PVC production. Moreover, the rising utilization of hydrochloric acid in key industries like food, steel, oil and gas, among others, is expected to drive demand for this chemical. Additionally, as the pharmaceutical, chemical, textile, and other industries continue to expand in APAC, it is expected that the demand for hydrochloric acid will experience significant growth throughout the forecast period. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View PDF Sample Report

Related Reports:

Sulfuric Acid Market: The global sulfuric acid market size is estimated to grow by USD 6,882.03 million between 2022 and 2027 exhibiting a CAGR of 4.06%. Sulfuric acid is a pungent-ethereal, colorless, slightly yellow viscous liquid.

Nitric Acid Market: The Global Nitric Acid Market size is estimated to grow by 6.66 million T between 2022 and 2027 exhibiting a CAGR of 1.98%.

TOC:

Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Grade Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix

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SOURCE Technavio