Hydrochloric Acid Market Will Boost USD 8,704.2 Million By 2028 : Growing Application in Pharmaceutical Sector Drive Growth

September 23 19:38 2022
Hydrochloric Acid Market Will Boost USD 8,704.2 Million By 2028 : Growing Application in Pharmaceutical Sector Drive Growth
Hydrochloric Acid Market
The rising demand in oil and gas, water treatment, and food processing is driving the market for hydrochloric acid.

The global Hydrochloric Acid market is forecast to reach USD 8,704.2 Million by 2028, according to a new report by Reports and Data. Hydrochloric acid, also known as muriatic acid, is a transparent, very strong solution of hydrogen chloride in water. It is produced using four production methods, a combination of chlorine and hydrogen, chlorination of organic, as a group of co-product in the manufacture of silica, and chemicals, salt-sulfuric acid production process. It is used as an essential product of the chemical industry and is used in many industrial processes such as food manufacturing, oil well acidizing, ore processing, producing calcium chloride, and steel pickling.

The rapid growth in the construction and automotive sector, the demand for steel and allied products is increasing. Hydrochloric acid is used in metal prefixing for galvanizing and soldering, aluminum etching, and metal cleaning. Rapid industrialization and growth in the chemical manufacturing industry is expected to affect the market positively. Rise in investment in the pharmaceutical industry for applications like pH control, catalyst, and others are also driving the demand of the market product.  

Leading Players– Dow Chemical, Covestro, Olin, Axiall, OxyChem, Westlake Chemical, INOVYN, Shin-Etsu Chemical, BASF, and UNID, among others.  

Click the link to get a Sample Copy of the Report:@ https://www.reportsanddata.com/sample-enquiry-form/175

Key Factors Driving the Global Materials & Chemicals Market Growth

The global materials & chemicals market revenue is primarily attributed to factors such as growth are fast-paced industrialization globally, rising demand for raw materials and chemicals in the buildings & construction, food & beverage, pharmaceutical, agriculture, textile, and pulp & paper industries, and increasing demand for essential consumer goods including packaged foods & beverages, household hygiene products, and personal care products & cosmetics. Increasing industrial applications of specialty chemicals, surge in demand for high-performance, organic agrochemicals, growing environmental awareness among consumers, growing need for eco-friendly and sustainable raw materials & chemicals, and increasing government investments in the materials & chemicals industry are other factors driving revenue growth of this market.

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

  • Synthetic Hydrochloric Acid
  • By-product Hydrochloric Acid

Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

  • Steel Pickling
  • Oil Well Acidizing
  • Ore Processing
  • Food Processing
  • Calcium Chloride
  • Others

Frequently Asked Questions Addressed in the Report:

  • What is the estimated market revenue growth over the forecast period?
  • What are the major factors driving the global Hydrochloric Acid market revenue growth?
  • Which regional market is expected to account for the largest revenue share in the global Hydrochloric Acid market over the forecast years?
  • Which are the leading players in the global Hydrochloric Acid market?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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About Us:Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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