Exploring the Booming Hydrochloric Acid Market: Asia Pacific's Dominance
Kamlesh Desai
Sr. Chemical & Materials R&D Specialist || Solutions, Sales, Process, Industry and Operations Expert, Innovation||
Hydrochloric acid (HCl) is a strong, colorless, and highly corrosive acid. It is composed of hydrogen and chlorine atoms and has the chemical formula HCl. Hydrochloric acid is an important industrial chemical and is commonly found in laboratories.?
The Hydrochloric Acid Market?is projected to grow from USD 2.5 billion in 2022 to USD 3.4 billion by 2027, at a CAGR of 6.6% during the forecast period.??
In its pure form, hydrochloric acid is a gas, but it is usually dissolved in water to produce a liquid solution with varying concentrations. The concentration of hydrochloric acid is often denoted by its molarity (M), which represents the number of moles of HCl per liter of solution.
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Hydrochloric acid is known for its strong acidic properties. It is classified as a strong acid because it dissociates completely in water, releasing hydrogen ions (H+) and chloride ions (Cl-). This dissociation process makes hydrochloric acid highly corrosive and capable of reacting with various substances.
Some common uses of hydrochloric acid include:
Hydrochloric acid (HCl) has various applications in the market across different industries. Some key applications include:
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"Synthetic grade segment to be the fastest growing grade"
Synthetic hydrochloric acid is a chemical substance, an aqueous solution of hydrogen chloride gas. It is colorless to pale yellow and has strong corrosive qualities and an unpleasant odor. The process of burning chlorine in hydrogen and subsequently absorbing hydrogen chloride into water results in synthetic hydrochloric acid. A synthetic grade of hydrochloric acid is offered on the market with a concentration ranging from 33.3% to 35.5%. The synthetic grade of hydrochloric acid meets with European Standard EN939 for the use of a material used for water treatment. Such a high-quality product can be used in procedures that treat water for both industrial and domestic use and in highly demanding industries such as food and cosmetics.
Food-grade hydrochloric acid is manufactured by directly synthesizing elements, which involves burning chlorine in hydrogen and then absorbing the resultant hydrogen chloride in water. The concentration of hydrochloric acid sold on the market ranges from 33% to 35.5%.
"Asia Pacific to be the largest region in the hydrochloric acid market"
The Asia Pacific region was indeed one of the largest markets for hydrochloric acid, and it is expected to continue its growth in the future. The region's large population, rapid industrialization, and increasing demand from various end-use industries have contributed to its prominence in the hydrochloric acid market.
In North America and Europe, the demand for hydrochloric acid is mainly driven by the steel industry and the increasing use of hydrochloric acid in the oil and gas industry. The United States is the largest consumer of hydrochloric acid in North America, while Germany, France, and the United Kingdom are the major consumers in Europe.
Several factors have driven the growth of the hydrochloric acid market in the Asia Pacific region:
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Some of the key players?include?BASF?SE (Germany),?Covestro?AG (Germany),?Olin?(US),?Westlake?Chemical Corporation (US),?Occidental Petroleum Investment Co?(US),?Formosa Plastics Group?(Taiwan),?Tata Chemicals?(India),?AGC Chemicals Europe?,?ERCO Worldwide?(Canada),?Detrex Corporation?(US) and others.
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