CHICAGO, July 10,
2024 /PRNewswire/ -- The report
"Hydrochloric Acid Market by Grade
(Synthetic, By-product), Application, End-use industry (Food &
Beverage, Pharmaceutical, Textile, Steel, Oil & Gas, Chemical),
Region (North America,
Europe, APAC, MEA, South America), & Region - Global Forecast
to 2029", is projected to grow from USD
2.2 billion in 2024 to USD 3.0
billion by 2029, at a CAGR of 6.5% during the forecast
period. The growth of the hydrochloric acid market is driven by
various small-scale applications, including household cleaning,
construction, and leather processing. Additionally, hydrochloric
acid is used to dissolve calcium carbonate, such as in descaling
kettles and removing mortar from masonry. When applied to
brickwork, the reaction between the acid and mortar continues until
the acid is completely converted, resulting in calcium chloride,
carbon dioxide, and water.
Browse in-depth TOC on "Hydrochloric Acid Market"
322 – Tables
53 – Figures
277 –
Pages
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Synthetic grade segment to be the fastest growing grade
during the forecast period.
Synthetic hydrochloric acid, a solution of hydrogen chloride
(HCl) in water, is produced by directly synthesizing hydrogen and
chlorine gases. It is a clear, colorless to slightly yellow liquid
with a strong, pungent odor and high corrosiveness. Typically,
available in concentrations ranging from 30% to 38% HCl by weight,
it is widely used in industrial applications such as chemical
manufacturing, metal processing, and water treatment due to its
reactivity and ability to dissolve various substances. Synthetic
hydrochloric acid offers advantages like ease of handling,
consistent quality, and versatility in food processing, cosmetics
production, and pharmaceutical synthesis. However, it poses risks
of skin, eye, and mucous membrane irritation upon contact,
emphasizing the need for careful handling and safety measures.
Ore processing to be the third fastest growing segment in the
hydrochloric acid market during the forecast period.
Hydrochloric acid plays a crucial role in various mining
operations, where it is utilized for ore treatment, extraction,
separation, purification, and water treatment purposes. It is
particularly significant in the recovery processes of molybdenum
and gold. In specific applications, hydrochloric acid is essential
for converting high-grade scheelite concentrate (CaWO4) and crude
sodium tungstate into tungstic acid, a precursor for producing
tungsten metal and chemicals. Additionally, it finds application in
uranium and zirconium processing, solution mining of borate ores,
as a pH regulator in the froth flotation of potash ores, and in the
extraction of rare earth elements from bastnasite.
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Europe is projected to
be the third largest region in terms of value during the forecast
period.
The hydrochloric acid market in Europe is being propelled by several key
factors. The region's robust industrial sector, which includes
chemical manufacturing, steel production, and water treatment,
drives significant demand for hydrochloric acid. Stringent
environmental regulations governing industrial operations
necessitate the use of hydrochloric acid for various applications
such as wastewater treatment and emissions control. There is a
growing emphasis on sustainable practices and eco-friendly
alternatives in manufacturing processes, further boosting the
demand for hydrochloric acid due to its versatility as a reagent in
numerous industrial applications. The rising adoption of
hydrochloric acid in the food and beverage industry for food
processing and preservation purposes contributes to market growth
in Europe. Furthermore, continuous
advancements in technology and manufacturing processes enhance the
efficiency and efficacy of hydrochloric acid utilization, driving
further market expansion in the region.
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Market Players
Some of the leading companies in the global 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 Inc. (Japan), ERCO Worldwide (Canada), Detrex Corporation (US) and
others.
Browse Adjacent Market: Specialty Chemicals Market
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Glycolic Acid Market - Global Forecast to
2027
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