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Hydrochloric Acid Market 2023 : Size, Share, Analysis, Top Leaders, Industry Overview 2032 | BASF SE, Covestro LLC, Detrex Corporation, ERCO Worldwide, Ercros SA
Hydrochloric Acid Market Trends
The Business Research Company's Hydrochloric Acid Global Market Report 2023 identifies increased demand for water and wastewater treatment as the major driver for the Hydrochloric Acid market's growth in the forecast period. 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 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 are 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.
A key trend in the Hydrochloric Acid market includes technological advancement. Major companies in the hydrochloric acid market are advancing with their new technologies and research and development to gain a competitive edge in the market. For instance, in May 2021, Solvay, a Belgium-based chemicals company operating in the hydrochloric acid market, introduced non-fluorosurfactant technologies: Hylar 5000S and Tecnoflon LX.
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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.
The Business Research Company's "Global Hydrochloric Acid Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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
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