How Is The Hydrochloric Acid Market Evolving And What Is The Growth Forecast?
The hydrochloric acid market has demonstrated consistent progress in recent times, rising from $2.08 billion in 2024 to an anticipated $2.21 billion in 2025 at a cumulative annual growth rate (CAGR) of 6.4%. This surge during the historic period can be linked to an increase in demand from chemical manufacturing companies, steel pickling applications, mining industry usage, food processing applications, oil and gas well stimulation, and pharmaceutical manufacturing.
Furthermore, the hydrochloric acid market is predicted to observe impressive expansion in the ensuing years, with the market size anticipated to climb to $2.9 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. Aspects contributing to this predicted growth include the development of water treatment infrastructure, continual mining demand, the burgeoning food and beverage industry, rekindled emphasis on clean energy sources, and the perpetual need for metal cleaning.
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What Are The Key Drivers Of The Hydrochloric Acid Market?
A swelling demand from the steel industry is poised to boost the growth of the hydrochloric acid market in the future. Hydrochloric acid is extensively used in the steel industry for pickling processes which involve the removal of rust, scale, and other impurities on the surface of steel before further processing like galvanizing or coating. As steel production escalates globally, particularly in emerging economies, the demand for hydrochloric acid is projected to soar.
What Are the Key Segments Within the Global Hydrochloric Acid Market?
The sections covered in this report on the hydrochloric acid market include
1) By Type: Synthetic Hydrochloric Acid, By-Product Hydrochloric Acid
2) By Form: Water-Based, Aqueous, Solution
3) By Distribution Channel: E-Commerce, B2B, Specialty Stores, Other Distribution Channels
4) By Application: Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride, Other applications
5) By End-User: Food And Beverage, Steel, Oil And Gas, Chemical, Textile, Other End-users
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Who Are The Major Players In The Hydrochloric Acid Industry?
Prominent enterprises operating in the hydrochloric acid market comprise AGC Chemicals Americas Inc., BASF SE, Detrex Corporation, ERCO Worldwide, Ercros SA, INOVYN – INEOS Group, Olin Corporation, Westlake Chemical Corporation, Formosa Plastics Corporation, Dow Chemical Company, Allan Chemical Corporation, GFS Chemicals Inc., Eco-Tec Inc., Basic Chemical Solutions LLC, Brainerd Chemical Co Inc., Qingdao Henley Company Limited, Seqens Group, Nouryon Industrial Chemicals, PCC Group, Tessenderlo Group, TOAGOSEI CO. LTD, Vynova Group, Kemira, Chemtrade Logistics Income Fund.
What Are The Emerging Trends in the Hydrochloric Acid Market?
Vanuse in production capacity by big companies in the hydrochloric acid market is one emerging trend. For instance, in August 2023, German multinational chemical company, Wacker Chemie AG expanded its hyperpure hydrogen chloride production facility at its Burghausen site in Germany to cope with the growing demand from the semiconductor industry.
In Which Region is the Hydrochloric Acid Market Projected to Grow the Fastest?
Asia-Pacific was the largest region in the hydrochloric acid market as of 2024, with North America anticipated to be the fastest-growing region in the hydrochloric acid market report forecast period.
What Does The Hydrochloric Acid Market Report 2025 Offer?
Hydrochloric acid refers to a potent corrosive irritant acid that is present as an aqueous solution of hydrogen chloride (HCl). It is used in the manufacture of fertilizers, dyes, and chlorides in the photography, textile, rubber, and electroplating industries.
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