The report “Hydrochloric Acid Market by Grade (Synthetic, By-product), Application, End-use industry (Food & Beverage, Pharmaceutical, Textile, Steel, Oil & Gas, Chemical), Region (North America, Europe, APAC, MEA, South America), & Region – Global Forecast to 2029″, is projected to grow from USD 2.2 billion in 2024 to USD 3.0 billion by 2029, at a CAGR of 6.5% during the forecast period. The growth of the hydrochloric acid market is driven by various small-scale applications, including household cleaning, construction, and leather processing. Additionally, hydrochloric acid is used to dissolve calcium carbonate, such as in descaling kettles and removing mortar from masonry. When applied to brickwork, the reaction between the acid and mortar continues until the acid is completely converted, resulting in calcium chloride, carbon dioxide, and water.
Key Market Players
BASF SE (Germany), Covestro AG (Germany), Olin Corporation (US), Westlake Chemical Corporation (US), Occidental Petroleum Corporation (US), Formosa Plastics Corporation (Taiwan), Tata Chemicals Limited (India), AGC Inc. (Japan), ERCO Worldwide (Canada), Detrex Corporation (US)
Europe is projected to be the third largest region in terms of value during the forecast period.
The hydrochloric acid market in Europe is being propelled by several key factors. The region’s robust industrial sector, which includes chemical manufacturing, steel production, and water treatment, drives significant demand for hydrochloric acid. Stringent environmental regulations governing industrial operations necessitate the use of hydrochloric acid for various applications such as wastewater treatment and emissions control. There is a growing emphasis on sustainable practices and eco-friendly alternatives in manufacturing processes, further boosting the demand for hydrochloric acid due to its versatility as a reagent in numerous industrial applications. The rising adoption of hydrochloric acid in the food and beverage industry for food processing and preservation purposes contributes to market growth in Europe. Furthermore, continuous advancements in technology and manufacturing processes enhance the efficiency and efficacy of hydrochloric acid utilization, driving further market expansion in the region.
