Small vial containing Hydrochloric acid
The Business Research Company’s Hydrochloric Acid Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Hydrochloric Acid Global Market Report 2023 evaluates hydrochloric acid market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global hydrochloric acid market size is expected to grow from $1.85 billion in 2022 to $1.97 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hydrochloric acid is expected to grow to $2.51 billion in 2027 at a CAGR of 6.1%.
Increased demand for water and wastewater treatment is expected to propel the growth of the hydrochloric acid market going forward. Water and wastewater treatment refers to the method of improving the quality of water for end-use. Hydrochloric acid’s ability to neutralize makes it a good choice for water treatment applications, as a result, increasing demand for water and wastewater treatment increases the demand for hydrochloric acid. For instance, in August 2021, according to the United Nations, a New York-based intergovernmental organization, globally, 56 percent of household wastewater flows were safely treated in 2020. The wastewater treatment and acceleration are expected to achieve a target by 2030. The aim is to track the proportion of complete industrial and household wastewater flows safely treated in compliance with national or local standards. Therefore, the hydrochloric acid market is expanding as a result of the increased demand for water and wastewater treatment.
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The hydrochloric acid market segments in the report are:
1) By Type: Synthetic Hydrochloric Acid, By-Product Hydrochloric Acid
2) By Form: Water-Based, Aqueous, Solution
3) By Application: Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride, Other Application
4) By Distribution Channel: E-Commerce, B2B, Specialty Stores, Other Distribution Channel
5) By End-User: Food and Beverage, Steel, Oil and Gas, Chemical, Textile, Other End-User
The table of contents in TBRC’s hydrochloric acid market report includes:
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