Hydrochloric Acid Market Share, Size, Trends, Industry Analysis Report, By Grade (Synthetic, By-Product); By Application Type; By End Use Industry; By Region; Segment Forecast, 2023 - 2032

Hydrochloric Acid Market Share, Size, Trends, Industry Analysis Report, By Grade (Synthetic, By-Product); By Application Type; By End Use Industry; By Region; Segment Forecast, 2023 - 2032

The global hydrochloric acid market size is expected treach USD 4,669.24 million by 2032, according ta new study by Polaris Market Research. The report “Hydrochloric Acid Market Share, Size, Trends, Industry Analysis Report, By Grade (Synthetic, By-Product); By Application Type; By End Use Industry; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Increasing demand for high-grade by-products in various industries is driving the growth of the hydrochloric acid market. Hydrochloric acid in food processing as a pH regulator, preservative, and sterilizing agent drives the market's growth. The demand for hydrochloric acid in the steel industry for the pickling and cleaning of steel alscontributes tthe market's growth. The growing demand for hydrochloric acid in Asia, particularly in countries such as China and India, is driving the market's growth. The increasing demand for chemicals, particularly in the agriculture and construction industries, contributes tthe market's growth.

The market for hydrochloric acid has a lot of potentials tgrow due tmarket participants doing R&D for application development because of increased investment in the oil and gas and mining industries. In addition, improvements in the chemical production industry are anticipated taccelerate market growth for muriatic acid over the forecast period. The demand for steel and related products is rising along with the expansion of the building and automobile industries. This is the primary driver of the increase in the usage of hydrochloric acid for pickling steel alloys and stainless steel. The market is benefiting from the expansion of industrialization and the chemical industry's hydrochloric market, investing significantly more in the pharmaceutical sector, where catalysis, pH control, and other uses of hydrochloric acid.

Over the anticipated timeframe, the global market is expected tgrow due tincreased demand from industries like water treatment, food processing, and oil & gas. Additionally, increasing HCl use in the steel and pharmaceutical industries is projected tfuel the hydrochloric acid industry in the coming years. The rising demand for chemicals from the steel industry primarily drives the market. In the steel business, HCl is used tclean iron oxide and scale off steel surfaces. The hydrochloric acid market will expand due tthe rising demand for steel from various sectors.

Hydrochloric Acid Market Report Highlights

By-Product Type is anticipated tgrow owing tincreasing demand for higher-quality grades of hydrochloric acid in certain end-use industries, such as the electronics or pharmaceuticals Industries.

The Food Processing segment accounted for the higher growth rate owing tthe increasing demand for processed and packaged food, coupled with the growing demand for meat and poultry products.

Steel end use industry is projected texperience significant growth rate due tthe increasing demand for steel products in construction and manufacturing industries, particularly in emerging economies.

Asia Pacific is expected tgrow at a significant growth rate owing tthe increase in construction activities, resulting in higher demand for steel and other construction materials in this region.

The global players include BASF SE, Covestro, Olin Corp., Westlake Chemical Corp., Occidental Petroleum, Formosa Plastics, Tata Chemicals, AGC Chemicals, ERCO Worldwide & Detrex Corporation.

Polaris Market Research has segmented the hydrochloric acid market report based on grade, application, end use industry and region:

Hydrochloric Acid, Grade Outlook (Revenue - USD Million, 2019 - 2032)

Synthetic Grade

By-Product Grade

Hydrochloric Acid, Application Outlook (Revenue - USD Million, 2019 - 2032)

Steel Pickling

Oil Well Acidizing

Ore Processing

Food Processing

Pool Sanitization

Calcium chloride

Biodiesel

Hydrochloric Acid, End Use Industry Outlook (Revenue - USD Million, 2019 - 2032)

Food and Beverages

Pharmaceuticals

Textile

Steel

Oil & Gas

Chemical Industry

Hydrochloric Acid, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa