Global Perchloric Acid Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Perchloric Acid Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Perchloric acid is a mineral acid with the formula HClO. It is a colorless, odorless, oily liquid that is extremely corrosive. Perchloric acid is the strongest acid among inorganic oxo acids. It can support combustion and is highly corrosive and highly irritating. It is industrially used for the preparation of perchlorate, the pharmaceutical industry, etc., and can also be used as an oxidant.

Market Overview:

The latest research study on the global Perchloric Acid market finds that the global Perchloric Acid market reached a value of USD 27.27 million in 2022. It’s expected that the market will achieve USD 36.16 million by 2028, exhibiting a CAGR of 4.82% during the forecast period.

Influence of COVID-19 Outbreak on Perchloric Acid Industry Development

First of all, the epidemic prevention and control measures will affect the flow of people and
activities, making the production of the Perchloric Acid industry suffer due to the supply of raw materials and insufficient labor. Delays in resuming production and work will directly lead to inefficient operation. Second, during the epidemic, logistics is inconvenient, strict transportation control is implemented in each region, and the transportation speed is greatly slowed down, which affects the efficiency of supply.
With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.

Drivers

Perchloric acid is an inorganic compound, which is mainly used to prepare various perchlorates in industry. Because of its strong oxidizing property, it can react with most metals including gold and silver to obtain metal perchlorates. For example, ammonium perchlorate is a salt of perchloric acidthat contains a tetrahedral perchlorate ion in which the oxidation state of chlorine is positive 7. Ammonium perchlorate is less sensitive to heat and impact, so this product is an excellent raw material for the manufacture of rocket fuel, oxidizer in pyrotechnics and explosives in airbags. In addition to the preparation of perchlorate, perchloric acid can also be used as inorganic chemical raw materials, oxidants, desiccants, solvents, chemical analysis reagents, etc. It is used in the preparation of acrylonitrile polymers, the manufacture of medicines, the purification of synthetic diamonds, the electroplating and electropolishing, the production of film films, the production of fireworks and firecrackers, and the manufacture of explosives, etc. Therefore, the development of downstream industries will promote the development of perchloric acid industry.

Perchloric acid is mainly produced as a precursor to ammonium perchlorate, which is used in rocket fuel. The growth in rocketry has led to increased production of perchloric acid. Satellites are semi-independent, computer-controlled man-made devices launched into Earth orbit. Satellites are launched into Earth orbit by launch vehicles. Types of satellites include commercial, military, and surveillance, and can serve a variety of purposes, including science, weather, navigation, and communications, to name a few. At the same time satellite data is used in various applications such as urban development, maritime security, mineral exploration and agriculture. In recent years, the growth of space exploration and the commercial use of satellites, driven by the initiatives of major and emerging countries to invest in space exploration, along with the development of the global economy and the continuous advancement in space science and technology are driving the growth of the perchloric acid market.

Region Overview:

China had the highest growth rate of all regions.

Company Overview

Tianjin Xinyuan Chemical is one of the major players operating in the Perchloric Acid market, holding a share of 44.46% in 2022.

Tianjin Xinyuan Chemical specializes in the production of perchloric acid and perchlorates (lithium perchlorate and magnesium perchlorate).

GFS Chemicals is a Columbus, OH, USA based chemical manufacturer and supplier of specialty and fine chemicals. GFS' capability to produce specialty alkynes and olefins, pharmaceutical building blocks, trace metal salts and solutions, low moisture/anhydrous salts, and specialty rare earth salts and solutions makes GFS a preferred partner for organizations across an array of industries -including: pharmaceutical, electronics, energy, flavors & fragrances, agrichemicals, and specialty polymers.

Segmentation Overview:

Among different product types, Purity:>=70% segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Rocket Fuel segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Perchloric Acid market covered in Chapter 3:

MilliporeSigma
Avantor
Honeywell
Tianjin Xinyuan Chemical
GFS Chemicals

In Chapter 4 and Chapter 14.2, on the basis of types, the Perchloric Acid market from 2018 to 2029 is primarily split into:

Purity:<70%
Purity:>=70%

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Perchloric Acid market from 2018 to 2029 covers:

Chemical Industry
Experimental Study
Rocket Fuel
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)