Hydrochloric Acid Market Projected Worth of USD 3.4 Billion by 2027, at a CAGR of 6.6%| MarketsandMarkets™

August 19 05:10 2023
Hydrochloric Acid Market Projected Worth of USD 3.4 Billion by 2027, at a CAGR of 6.6%| MarketsandMarkets™
Browse 247 market data Tables and 43 Figures spread through 231 Pages and in-depth TOC on “Hydrochloric Acid Market”
The Hydrochloric Acid Market involves the production and distribution of this strong acid. It finds use in various industries like chemical manufacturing, steel production, and food processing. Demand is driven by industrial applications and its role in numerous chemical processes.

Hydrochloric acid (HCl) is a strong, highly corrosive mineral acid. It is a colorless to slightly yellowish liquid with a pungent and suffocating odor. Hydrochloric acid is produced by dissolving hydrogen chloride (HCl) gas in water, and it is one of the most widely used and essential acids in the chemical industry. The Hydrochloric Acid Market is projected to grow from USD 2.5 billion in 2022 to USD 3.4 billion by 2027, at a CAGR of 6.6% during the forecast period.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=75705978  

Properties of Hydrochloric Acid:

  • Chemical Formula: HCl
  • Molecular Weight: 36.46 g/mol
  • Boiling Point: -85.05 °C (-121.09 °F)
  • Melting Point: -114.22 °C (-173.56 °F)
  • Density: 1.18 g/cm³ (approximately 20% HCl by weight)
  • Solubility: Hydrochloric acid is highly soluble in water, and its concentration is commonly expressed in molarity (M) or percentage (%).

Uses and Applications of Hydrochloric Acid:

  • Chemical Manufacturing: Hydrochloric acid is a vital raw material for various chemical processes, including the production of chlorine gas, which is used in the manufacture of PVC (polyvinyl chloride) and other organic compounds.
  • Steel Pickling: In the steel industry, hydrochloric acid is used for pickling steel to remove rust, scale, and other impurities from the surface before further processing, such as galvanizing or coating.
  • Water Treatment: It is used in water treatment processes to adjust the pH levels and remove impurities and contaminants from water.
  • Oil and Gas Industry: Hydrochloric acid is employed in the oil and gas industry for well stimulation and acidizing to increase oil and gas production.
  • pH Regulation: It is used in various applications to regulate the acidity levels, such as in food processing and chemical reactions.
  • Laboratory Use: In laboratories, hydrochloric acid is commonly used for various analytical and preparatory procedures.

Safety Considerations: Hydrochloric acid is a potent acid and should be handled with extreme care. It can cause severe chemical burns on contact with skin and eyes and can emit harmful fumes when exposed to air. Proper safety precautions, including the use of personal protective equipment (PPE) and ventilation, are necessary when handling this chemical.

In industrial settings, hydrochloric acid is typically stored in high-density polyethylene (HDPE) or other suitable containers due to its corrosive nature.

According to forecasts, Asia Pacific is expected to emerge as the largest region in the hydrochloric acid market during the forecast period. The region’s significant growth is attributed to several factors, including rapid industrialization, infrastructure development, and increasing demand from various end-user industries. The rising application of hydrochloric acid in chemical manufacturing, steel pickling, water treatment, and the oil and gas sector is driving its demand in the region. Additionally, the growth in population and urbanization in Asia Pacific is leading to increased consumption of goods and services, further bolstering the demand for hydrochloric acid in industrial processes.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=75705978 

North America has long been one of the critical markets for hydrochloric acid. The North American market mainly comprises the US, Canada, and Mexico; the US is the dominant market in the region, with a share of more than 87% in terms of volume. The market for hydrochloric acid in the US is driven by its local industrial demand and exports to NAFTA and South America.

The key players operating in the hydrochloric acid market are BASF SE (Germany), Covestro AG (Germany), Olin Corporation (US), Westlake Chemical Corporation (US), Occidental Petroleum Corporation (US), Formosa Plastics Corporation (Taiwan), Tata Chemicals Limited (India), AGC Chemicals (Japan), ERCO Worldwide (Canada), Detrex Corporation (US) and others.

Read Our Trending Press Release Below:

Zeolites Market – Global Forecast to 2026

Earthen Plasters Market – Global Forecast to 2026

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/hydrochloric-acid-market-75705978.html