“Market for Hydrochloric Acid”
Increasing demand in the oil and gas, water treatment and food processing sectors is driving the hydrochloric acid market.
According to a new report by Reports and Data, the global hydrochloric acid market is expected to reach $8,704.2 million by 2028. Hydrochloric acid, also known as hydrochloric acid, is a clear, very strong solution of hydrogen chloride in water. It is produced using four production methods, a combination of chlorine and hydrogen, chlorination of organic matter, as a group of by-products in the production of silica, and chemicals, hydrochloric acid production process. It is used as an essential product of the chemical industry and in many industrial processes such as food production, oil well acidification, ore processing, calcium chloride manufacture and steel pickling.
Rapid growth in the construction and automotive sectors increases demand for steel and related products. Hydrochloric acid is used to pre-fix metals for galvanizing and soldering, to etch aluminum and to clean metals. The rapid industrialization and growth in the chemical manufacturing industry is expected to have a positive impact on the market. Increasing investments in the pharmaceutical industry for applications like pH control, catalyst and others are also driving the demand for the market product.
Leading Players– Dow Chemical, Covestro, Olin, Axiall, OxyChem, Westlake Chemical, INOVYN, Shin-Etsu Chemical, BASF and UNID, among others.
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Key factors driving the growth of the global Materials & Chemicals market
Global materials and chemicals market revenue is primarily attributed to factors such as growth, rapid industrialization worldwide, increasing demand for raw materials and chemicals in building and construction, food and beverage, pharmaceutical, agriculture, textile and pulp and paper industries , and increasing demand for key consumer products, including packaged foods and beverages, household hygiene products, and personal care and cosmetics. Increasing industrial applications of specialty chemicals, rising demand for high-performance organic agrochemicals, growing environmental awareness among consumers, growing need for eco-friendly and sustainable raw materials and chemicals, and increasing government investment in materials and chemical industries are other factors driving the revenue growth of this market.
Major Regional Markets Covered in the Report:
- North America (USA, Canada, Mexico)
- Europe (Italy, UK, Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of Middle East and Africa)
Type Outlook (Revenue, $Bn; Volume, Kilotons; 2020-2028)
- Synthetic hydrochloric acid
- By-product hydrochloric acid
Bid Outlook (Revenue, $Bn; Volume, Kilotons; 2020-2028)
- pickling steel
- Acidify oil well
- ore processing
- food processing
- calcium chloride
Frequently asked questions covered in the report:
- What is the estimated revenue growth of the market during the forecast period?
- What are the key factors driving the revenue growth of the global Hydrochloric Acid market?
- Which regional market is expected to account for the largest share of sales in the global Hydrochloric Acid market in the forecast years?
- Who are the key vendors in the global Hydrochloric Acid market space?
- What are the key outcomes of Porter’s SWOT analysis and Five Forces Analysis of the market?
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