Hydrochloric Acid Market Price, Report, Share, Business Growth, Revenue, Trends and Forecast by 2028

(The Express Wire via Comtex)

As Per Report Published by Fortune Business Insights™ the increasing demand for hydrochloric acid from the steel industry is a key factor predicted to foster the growth of the market during the forecast period, mentioned in a report, titled the rising demand for steel from various industries is predicted to favor the growth of the market

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Lists the Key Companies in the Hydrochloric Acid Market:

  • Dow
  • Tessenderlo Group
  • Olin Corporation
  • Occidental Chemical Corporation
  • Westlake Chemical Corporation
  • Tosoh Corporation
  • Nouryon, Covestro AG
  • Orica Limited
  • AGC Chemicals
  • Detrex Chemicals

Market Driver:

Acquisition of REHAU’s TUBE PLANT by TESSENDERLO GROUP to Bolster Growth

TESSENDERLO GROUP, a diversified industrial group announced that it has signed an agreement to acquire the production plant of REHAU Tube in La Chapelle-Saint-Ursin (Cher) from the German REHAU Group. The plant produces and manufactures sewer, soil and waste, stormwater management, and telecom pipes and fittings for various industries. Tessenderlo Group will obtain the real estate, production assets, stocks and retain 75 employees in sales and operations connected to wastewater and cable ducting business under the terminologies of the agreement. The strategic acquisition of the company is likely to have a tremendous impact on the hydrochloric acid market share owing to the Tessenderlo’s vision to expand and reinforce DYKA’s position in the French market for wastewater plastic pipe systems. The heavy demand for steel from various sectors including construction, automotive and transport, energy, packaging, and appliances is expected to boost the market in the forthcoming years.

However, the corrosive nature of the hydrochloric acid can play as a restraining factor for the expansion of the market. Hydrochloric acid can cause severe burns to the skin and eyes during handling and storage, which, in turn, can inhibit the growth of the market.

Report Aim and Scope:

  • An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
  • The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.

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Regional Analysis:

High Demand from Food and Beverage Industry to Enable Growth in North America

Geographically, the global hydrochloric acid market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is predicted to account for the largest share in the global market owing to the booming construction industry. The rising demand for HCl from the food and beverage industry is expected to escalate the growth of the market during the forecast period. HCl is utilized in the application of corn syrup and the regeneration of the ion-exchange resin. The market size in Asia Pacific is predicted to witness a rapid growth rate during the forecast period owing to the well-established steel plants in the region. The booming healthcare industry in Latin America is likely to spur opportunities for the market in the forthcoming years. The healthcare and pharmaceutical industry uses HCl for the production of ascorbic acid, which is utilized for the treatment and deficiency of Vitamin C. The Middle East and Africa is predicted to rise tremendously during the forecast period owing to the rising exploration activities for oil and gas.

Key information from the Research Report:

  • Extensive information on factors estimated to affect the market growth and share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects of market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter's Five Force analysis.
  • The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business.

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