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Hydrochloric Acid Market 2023 : By Size, Share, Trends, Growth And Regional Outlook 2032 | BASF SE, Covestro LLC, Detrex Corporation, ERCO Worldwide, Ercros SA
Hydrochloric Acid Market Growth
As per the hydrochloric acid market report by The Business Research Company, 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.
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 hydrochloric acid market size is expected to grow to $2.51 billion in 2027 at a CAGR of 6.1%.
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Major competitors in the Hydrochloric Acid market include AGC Chemicals Americas Inc., BASF SE, Covestro LLC, Detrex Corporation, ERCO Worldwide, Ercros SA, INOVYN - INEOS Group, Olin Corporation, Westlake Chemical Corporation, Formosa Plastics Corporation, Dow Chemical Company, Allan Chemical Corporation, GFS Chemicals Inc., Eco-Tec Inc., Basic Chemical Solutions LLC, Brainerd Chemical Co., Inc., Qingdao Henley Company Limited, Compound Solutions Inc., International Petrochemicals Private Limited, and Seqens Group.
The Hydrochloric Acid market is segmented -
By Type: Synthetic Hydrochloric Acid, By-Product Hydrochloric Acid
By Form: Water-Based, Aqueous, Solution
By Application: Steel Pickling, Oil Well Acidizing, Ore Processing, Food Processing, Pool Sanitation, Calcium Chloride, Other Application
By Distribution Channel: E-Commerce, B2B, Specialty Stores, Other Distribution Channel
By End-User: Food and Beverage, Steel, Oil and Gas, Chemical, Textile, Other End-User
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Hydrochloric Acid market.
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Hydrochloric acid refers to a potent corrosive irritant acid that is present as an aqueous solution of hydrogen chloride (HCl). It is used in the manufacture of fertilizers, dyes, and chlorides in the photography, textile, rubber, and electroplating industries.
The main types of hydrochloric acid are synthetic hydrochloric acid and by-product hydrochloric acid. Synthetic hydrochloric acid refers to a common acidic material that is an aqueous solution of hydrogen chloride. The form includes water-based, aqueous, and solution. These are used in various applications such as steel pickling, oil well acidizing, ore processing, food processing, pool sanitation, calcium chloride, and other applications distributed through e-commerce, B2B, specialty stores, and other distribution channels. The various end-users include food and beverage, steel, oil and gas, chemicals, textiles, and other end-users.
The Table Of Content For The Hydrochloric Acid Market Include:
1. Executive Summary
2. Hydrochloric Acid Market Characteristics
3. Hydrochloric Acid Market Trends And Strategies
4. Hydrochloric Acid Market - Macro Economic Scenario
5. Hydrochloric Acid Market Size And Growth
……
26. Africa Hydrochloric Acid Market
27. Hydrochloric Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hydrochloric Acid Market
29. Hydrochloric Acid Market Future Outlook and Potential Analysis
30. Appendix
The "Global Hydrochloric Acid Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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