Hydrochloric Acid Market Expected to Witness a Significant Growth of US$ 1620 Million by 2023 | Global Key Vendors - OxyChem, Dow Chemical, Olin, Covestro, Axiall, INOVYN, Westlake Chemical, BASF, Shin-Etsu Chemical

The demand for Hydrochloric Acid Market 2019 is anticipated to be high for the next few years. By considering this demand we provide latest Hydrochloric Acid Market Report which gives complete industry analysis, market outlook, size, growth and forecast till 2023. This report will assist in analyzing the current and future business trends, sales and revenue forecasts.

Global Hydrochloric Acid Market Overview:

The Global Hydrochloric Acid Market has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Hydrochloric Acid market size to maintain the average annual growth rate of 3.03% from US$ 1280.00 Million in 2015 to US$ 1400.00 Million in 2018, Market analysts believe that the next few years, Hydrochloric Acid market size will be further expanded, we expect that by 2023, The market size of the Hydrochloric Acid will reach US$ 1620 Million.

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According to the market report analysis, the Hydrochloric Acid is one of the names for muriatic acid with the chemical formula HCl. Hydrochloric acid is a transparent, very strong solution of hydrogen chloride in water. It is an extremely important product of the chemical industry and used in many industrial processes such as used in the manufacture of organic compounds, as a cleaning agent, neutralize the water in swimming pools, to regulate pH level, regenerate ion exchangers, oil-well acidization, Production of inorganic compounds, and other industrial applications.

The Global Hydrochloric Acid Market is segmented based on the Type, Application and Region. On the basis of Type, the Global Hydrochloric Acid Market is classified into Industrial Hydrochloride, Food-Class Hydrochloric Acid. Based on the Application, the Global Hydrochloric Acid Market  is divided into Organic chemical raw materials, Metal cleaning & treatment, Food & Dairy Industry, Water Treatment and others.

As per the regional analysis, APAC 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 Hydrochloric Acid Market in North America. 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.

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Industry News:

OxyChem (April 30, 2019) – Berkshire Hathaway Commits to $10 Billion Equity Investment in Occidental to Finance Acquisition of Anadarko – Occidental Petroleum Corporation (NYSE: OXY) announced today that, in connection with the financing of Occidental’s proposal to acquire Anadarko Petroleum Corporation, Berkshire Hathaway, Inc. has committed to invest a total of $10 billion in Occidental. The investment is contingent upon Occidental entering into and completing its proposed acquisition of Anadarko.

Berkshire Hathaway will receive 100,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share, together with a warrant to purchase up to 80.0 million shares of Occidental common stock at an exercise price of $62.50 per share. The preferred stock will accrue dividends at 8% per annum (or with respect to dividends that are accrued and unpaid, 9%).

Top Leading Key Manufacturers are: Dow Chemical, Olin, Covestro, OxyChem, Axiall, INOVYN, Westlake Chemical, BASF, Shin-Etsu Chemical, UNID, Orica Watercare, Detrex Chemicals, Canexus, Solvay, ERCO Worldwide, Dupont, Coogee Chemicals, Tessenderlo Group, AGC, Formosa Plastics and others. New product launches and continuous technological innovations are the key strategies adopted by the major players.

Region segment: This report is segmented into several key regions, with sales, revenue, market share (%) and growth Rate (%) of Hydrochloric Acid in these regions, from 2013 to 2023 (forecast), covering: North America, Europe, Asia Pacific, Middle East & Africa and South America

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