H1 2023: The largest producers of Hydrochloric Acid in H1 2023 were Dow Chemical, Gujarat Alkali & Chemicals Limited., and Qingdao Haijing Chemical (Group) Co., Ltd. In H1 2023, prices for hydrochloric acid in the Asian region highly fluctuated, reflecting varied market attitudes. The upstream chlorine high prices had a substantial impact on the production cost during January and March 2023, leading to a hike in the hydrochloric acid production costs in the Asian nations. In the Asian market, there were numerous purchases of downstream end-user items like ammonium chloride. Overall, upstream support had increased, and the growth of the downstream industries was optimistic during January and March 2023. Due to the region's ample stockpiles, the market experienced a decline in February 2023. In the Chinese market, hydrochloric acid prices rose significantly from March 2023 to May 2023 but then fell suddenly at the end of May 2023. In the US, prices for hydrochloric acid showed a downward trend throughout H1 2023. It was an effect of the drop in demand from primary downstream consumers like the steel industries. However, the downward trend was reinforced by decreased regional steel industry uptake and falling feedstock chlorine prices. There was an ample of supply of hydrochloric acid in the market to satisfy consumer demand in the domestic US market.
The global Hydrochloric Acid market has reached around 15 million tonnes in 2022 and is expected to grow at a CAGR of 4.20% during the forecast period until 2032. Dow Chemical is one of the leading producers of Hydrochloric Acid. Recently, Dow Chemical is making collaborations with Pack Studios for sustainable packaging to reduce harmful impact on environment as a part of CSR on 25 years completion.
Hydrochloric acid is produced as a by-product during the manufacturing of certain chemicals. These chemicals include chlorinated solvents, isocyanates, organics, fluorocarbons, magnesium, and vinyl chloride monomer. Another method is by direct reaction of Hydrogen and Chlorine. Different grades of Hydrochloric acid are used in the Manufacturing, Food and Pharmaceutical Industries. This Acid is used in production of organic and inorganic compounds, cleaning agent, fertilizers, dyes, pickling steel, tanning leather, electroplating, rubber, etc.
The global Hydrochloric acid consumption is expected to reach around 23 million tonnes by 2032. In the future, the demand for Hydrochloric acid is expected to increase due to its multiple applications. Especially, due to the preservative and acidifying properties of Hydrochloric Acid in the Food Industry, there is an expected to increase in consumption of Hydrochloric Acid in the forecast period.
The dominating region that demands the most significant volume of Hydrochloric Acid is North America. The growth in market for hydrochloric acid as a result of the expanding construction sector which requires hydrochloric acid for steel pickling purposes. The market is anticipated to grow due to the rising demand for HCl from the food and beverage industries in which this acid is employed for manufacturing of corn syrup. USA is leading as the producer of Hydrochloric Acid on a global level and is anticipated to dominate the market in the forecast period as well.
The Hydrochloric Acid market is segmented into sectors based on the end-use into Food, Dyes, Pigments and Paints, Steel Pickling, Calcium Chloride, Water Treatment and Others. However, Food industry is the biggest end-user market of Hydrochloric Acid, expected to hold a share of approximately 26%. A wide range of food products, including corn syrups used in biscuits, cold drinks, and cereals, are processed by the food industry using hydrochloric acid. To improve flavor and prevent food from decomposition, hydrochloric acid is also employed as an acidifier in sauces and canned goods. Another impressive growth in usage of Hydrochloric Acid for the synthesis of Calcium Chloride. Calcium Chloride has various applications such as a de-icing agent, ingredient in concrete, beer brewing, and canned vegetables. Moreover, Steel Pickling Industry holds prominent shares in the usage of Hydrochloric Acid in the market. Hydrochloric acid eliminates iron oxide deposits from iron before going through processing steps like extrusion, galvanizing, and rolling; thus, acts as an important chemical in the construction sector.
Significant companies for Global Hydrochloric acid are Dow Chemical, BASF SE, Qingdao Haijing Chemical (Group) Co., Ltd., Gujarat Alkali & Chemicals Limited., Akzo Nobel N.V., DCM Shriram, HF Chlor-Alkali LLC, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
The objective of the Study:
• To assess the demand-supply scenario of Hydrochloric Acid, which covers the production, demand, and supply of Hydrochloric Acid around the globe.
• To analyze and forecast the market size of Hydrochloric Acid.
• To classify and forecast the Global Hydrochloric Acid market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Hydrochloric Acid market.
To extract data for the Global Hydrochloric Acid market, primary research surveys were conducted with Hydrochloric Acid manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Hydrochloric Acid market over the coming years.
ChemAnalyst calculated Hydrochloric Acid demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Hydrochloric Acid. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrochloric Acid manufacturers and other stakeholders
• Organizations, forums, and alliances related to Hydrochloric Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrochloric Acid manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Hydrochloric Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
15 million tonnes
Market size Volume by 2032
23 million tonnes
Growth Rate
CAGR of 4.20% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Technology, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Food, Dyes, Pigments and Paints, Steel Pickling, Calcium Chloride, Water Treatment and Others.)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of Hydrochloric Acid in terms of volume for 2032?
Ans:
The global market size of Hydrochloric Acid is expected to reach approximately 23 million tonnes by 2032, with an expected CAGR of 4.20%.
Q2.
What are the major end-use industries of Hydrochloric Acid?
Ans:
Hydrochloric Acid is used in a wide range of end use industries including Food, Dyes, Pigments and Paints, Steel Pickling, Calcium Chloride, Water Treatment and Others.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.