New York, NY -- (SBWIRE) -- 01/25/2021 -- Hydrochloric acid, also known as muriatic acid, is a transparent, very strong solution of hydrogen chloride in water. It is produced using four production methods, a combination of chlorine and hydrogen, chlorination of organic, as a group of co-product in the manufacture of silica, and chemicals, salt-sulfuric acid production process. It is used as an essential product of the chemical industry and is used in many industrial processes such as food manufacturing, oil well acidizing, ore processing, producing calcium chloride, and steel pickling.

Additionally, the report is updated with the current economic scenario and dynamic changes in the trends with regard to the currently unfolding COVID-19 pandemic. The crisis has affected every segment of the market and has brought dynamic changes in the industry. The report covers the evolving business sphere along with a present and future assessment of the impact of COVID-19 on the market.

The global Hydrochloric Acid market is forecast to grow at a rate of 1.5% in terms of value, from 2020 to reach USD 8.60 Billion by 2027, according to a new report by Reports and Data.

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The report further analyzes the market segmentation based on types and applications. Furthermore, the report offers a comprehensive view of the competitive landscape by thoroughly analyzing the prominent leaders operating in the industry.

Some key players profiled in the report are:

Dow Chemical, Covestro, Olin, Axiall, OxyChem, Westlake Chemical, INOVYN, Shin-Etsu Chemical, BASF, and UNID, among others.

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)

Synthetic Hydrochloric Acid
By-product Hydrochloric Acid

Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)

Steel Pickling
Oil Well Acidizing
Ore Processing
Food Processing
Calcium Chloride
Others

End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)

Food and Beverages
Pharmaceuticals
Textiles
Steel
Oil and Gas
Chemical
Others

To provide an in-depth analysis of the global Hydrochloric Acid market with regards to its growth opportunities, production and consumption ratio, supply and demand, and export and import ratio, the market report offers key statistical data across the leading regions of the global Hydrochloric Acid market. The regional segment of the report covers an analysis of the key geographical regions, such as:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Further key findings from the report suggest

Hydrochloric acid is commonly used in the steel industry for the process of pickling. In this process, impurities such as inorganic contaminants, rust or scale, stains from ferrous metals, precious metals, copper, and aluminum alloys are removed.

Synthetic HCL is found as an aqueous solution of hydrogen chloride, which is acidic in nature. This type of acid is easy to handle and is used for pH balancing and in neutralization. The product is also applicable in industrial chemicals, food, and for the treatment of metal surfaces.

Hydrochloric acid is used to remove unwanted deposits of carbonates and dust in the oil wells to allow gas flow and crude oil in the well. This application is known as stimulation.

In the steel industry, the product is used in steel pickling operations in stainless steel, alloys, and carbon.
In this process, ion oxides are removed from the steel surface by using HCL acid. The chemical compound is also used in the metal prefixing, aluminum etching, and metal cleaning operation…Continued
Additionally, the report offers historical analysis and forecast analysis for the global Hydrochloric Acid market.

Historical Years: 2017-2018

Base Year: 2019

Estimated Year: 2020

Forecast Years: 2020-2027

The report answers radical questions about the global Hydrochloric Acid market. It aims to offer a competitive edge to the reader by providing insightful data about strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, government deals, and product launches.

The report provides an extensive forecast of the industry and its significant growth in the forecast years. The report provides important information regarding sales volume, revenue forecast, market size, market share, and current and emerging market trends. Along with this, the report covers SWOT analysis, Porter's Five Forces Analysis, Feasibility analysis, and investment return analysis.

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