Global Hydrochloric Acid Market Information-by Application (Steel Pickling, Organic & Inorganic Compound, Cleaning Pools, Others), by End User (Food Industry, Pharmaceutical, Agricultural, Textiles Industry, Chemical Industry and Others) and by Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 04/17/2018 -- Market Research Future (MRFR) Announces the Publication of its Research Report – Global Hydrochloric Acid Market 2016-2023
Commenting on this report, an analyst from Market Research Future (MRFR)'s team said, "Global Hydrochloric Acid Market size is expected to grow at USD ~ 1869.559215 million by 2023. The market witnessed a significant growth over the forecasted period owing to growing end user industries such as into food industry, pharmaceutical, agricultural, textiles industry, chemical industry and others.
Hydrochloric Acid comprises 35% hydrogen chloride, and can be categorized into food additive, industrial, reagent, and pharmaceutical industries. Hydrochloric acid is a non-flammable, transparent and or light yellow fluid. The rising demand from the pharmaceutical and chemical industry is the key factors expected to increase the growth of the Global Hydrochloric Acid Market in the forecasted years. On the other hand Hydrochloric Acid is harmful to humans and animals. The application of a large amount of Hydrochloric Acid can cause intoxication and result various health issues due to this the growth of the Global Hydrochloric Acid Market can be hampered in the next few years.
The Global Hydrochloric Acid Market has been segmented into application and end use industries. On the basis of application, the market has been divided into steel pickling, organic & inorganic compound, cleaning pools and others. Among these applications, steel pickling and production of organic & inorganic compound have cover the largest market followed by cleaning pools, regulate pH level, and others.
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Hydrochloric Acid has various commercial, industrial and domestic application, such as: Hydrochloric Acid is used in the production of organic compounds like vinyl chloride and dichloroethane, which is further used to production Poly Vinyl Chloride (PVC). Also in the production of special inorganic compounds for water treatment process used hydrochloric acid, such as drinking water and for the wastewater. Furthermore, it is used to efficiently regulate the pH level of a varied range of industrial processes including the production of foods, drinking water, medicals, in the salt purification process, swimming pools to optimal levels for swimmers. It is highly used in a process to steel pickling in which it is used as cleaning agent to remove rust. Also Hydrochloric Acid is effectively used to regenerate ion exchangers hence it is used in to ease oil well acidizing oil production. The food industry utilizes Hydrochloric Acid in the processing of various additives such as citric acid, fructose, and hydrolyzed vegetable protein. The increasing demand from the steel pickling and in production of organic & inorganic compound is expected to fuel market growth of Hydrochloric Acid in near future.
Dow Chemical Company (US)
Axiall Corporation (US)
BASF SE (Germany)
Detrex Corporation (US)
Solvay S.A. Chemicals Company (Europe)
ERCO Worldwide (US)
Coogee Chemicals (Australia)
AGC Chemicals (Japan)
Asia Pacific is the largest market of Hydrochloric Acid due to the increasing industrial applications in China, India and Indonesia. The second-largest growth rates are expected for North America, The growing demand from oil well acidizing industry is one of the key factors expected to fuel the growth of the Hydrochloride Acid Market in North America. On the other hand, Europe is estimated to witness sluggish growth in the forecast period, owing to the effluent disposal and environmental regulations concerning food and steel processing procedures. Latin America and Middle East also witnessed in growth of Hydrochloric Acid Market due to various application such as steel pickling, production of organic & inorganic compound, cleaning pools, regulate pH level, and others.
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