H1 2023: The largest producers of Hydrochloric Acid in H1 2023 were INEOS Group Limited, Vynova Group, Kemira Oyj, Kem One SAS, BASF SE, Covestro AG. In H1 2023, prices for hydrochloric acid in Europe overall remained bearish. The European market for hydrochloric acid was under pressure due to the fundamentals of weak demand and excess supply. In an effort to lessen the consequences of the weak end-use demand from the steel industries, there was a decline in purchasing activity, which led to a reduction in production rates of Hydrochloric Acid. Because there were ample supply of hydrochloric acid to satisfy customers demand, prices trended southwards. The decrease was further aided by the reductions in steel production that German mills in an effort to balance an oversupplied market, particularly in the flat steel industry. While downstream demand was hazy, the upstream market for liquid chlorine was also hazy in Europe. Due to low demand in importing nations like France, Germany, and the UK, there was a decline in the trading activity, which was reflected in the Hydrochloric Acid low prices.
The Europe Hydrochloric Acid (HCl) market has reached around 1530 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.82% during the forecast period until 2032. As the building and automotive industries grow, so does the need for steel and related materials.
As a by-product of the production of several compounds, hydrochloric acid is produced. These substances include vinyl chloride monomer, isocyanates, organics, fluorocarbons, and chlorinated solvents. The direct interaction of hydrogen and chlorine is another way of producing HCl. The manufacturing, food, and pharmaceutical industries employ various degrees of hydrochloric acid. This acid is used to make organic and inorganic compounds, as a solvent, a fertiliser, a dye, to pickle steel, to tan leather, to electroplate metal, to make rubber, etc.
Due to its numerous uses, hydrochloric acid demand is anticipated to rise in the future. The main factor boosting the usage of the hydrochloric acid in Europe is the rising steel sector. The steel industry is significant and associated with expansion. It is the chosen substance for many parts used in industry, construction, transportation, and consumer goods. Pickling steel is more necessary as a result of this. It removes rust or iron oxide scale from iron or steel before undergoing further processing procedures like extrusion, rolling, and galvanising. It is anticipated that use of hydrochloric acid will rise during the projection period, particularly as a result of the preservation and acidifying effects of the substance in the food industry. Due to growing investment in the mining and oil and gas industries, market participants have boosted their R&D for application development in the past and are likely to support the market expansion. Additionally, advancements in the chemical production sector are likely to boost the growth of the Europe hydrochloric acid market during the forecasted period. The Europe Hydrochloric acid consumption is expected to reach around 2200 thousand tonnes by 2032.
Based on region, the Europe hydrochloric acid market is segmented into Germany, France, Spain, and Rest of Europe. The dominating region that demands the most significant volume of Hydrochloric Acid is Germany. In the future, the demand for Hydrochloric acid is expected to increase due to its multiple applications. Especially, due to the preservative and acidifying properties of Hydrochloric Acid in the Food Industry, there is an expected to increase in consumption of Hydrochloric Acid in the forecast period.
The Hydrochloric Acid market is segmented into sectors based on the end-use into Steel pickling, Food Industry, Oil and gas well acidizing, Brine Treatment, Calcium Chloride, and Others. However, Steel Pickling industry is the biggest end-user market of Hydrochloric Acid and held a share of approximately 28% in 2022. Additionally, Steel Pickling Industry uses a significant amount of hydrochloric acid in the market. Before going through processing procedures including extrusion, galvanising, and rolling, hydrochloric acid removes iron oxide deposits from the metal; as a result, it serves as a crucial chemical in the construction industry. The food industry uses hydrochloric acid in the processing of a wide variety of food items, including corn syrups used in cereals, cold drinks and biscuits. In sauces and canned products, hydrochloric acid is used as an acidifier to enhance flavour and stop food from going stale
Significant companies for Europe Hydrochloric acid are INEOS Group Limited, Vynova Group, Kemira Oyj, Kem One SAS, BASF SE, Covestro AG, Evonik Performance Materials Gmbh, MSSA S.A.S., BorsodChem, Bondalti Capital, S.A., Westlake Vinnolit GmbH & Co. KG, VESTOLIT GmbH , and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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The objective of the Study:
•To assess the demand-supply scenario of Hydrochloric Acid, which covers the production, demand, and supply of Hydrochloric Acid around the globe.
•To analyze and forecast the market size of Hydrochloric Acid.
•To classify and forecast the Europe Hydrochloric Acid market based on end-use and regional distribution.
•To examine Europe competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Hydrochloric Acid market.
To extract data for the Europe Hydrochloric Acid market, primary research surveys were conducted with Hydrochloric Acid manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Europe Hydrochloric Acid market over the coming years.
ChemAnalyst calculated Hydrochloric Acid demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Hydrochloric Acid. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrochloric Acid manufacturers and other stakeholders
• Organizations, forums, and alliances related to Hydrochloric Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrochloric Acid manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe Hydrochloric Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
15 thousand tonnes
Market size Volume by 2032
23 thousand tonnes
Growth Rate
CAGR of 4.20% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Technology, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Steel pickling, Food Industry, Oil and gas well acidizing, Brine Treatment, Calcium Chloride, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Hydrochloric Acid market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Hydrochloric Acid.
3. Capacity By Location
To better understand the regional supply of Hydrochloric Acid by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Capacity By Technology
To better assess the manufacturing capacities with different technologies as well as understand which technology is more in demand.
6. Production By Company [Quarterly Update]
Study the historical annual production of Hydrochloric Acid by the leading players and forecast how it will grow in the coming years.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Steel pickling, Food Industry, Oil and gas well acidizing, Brine Treatment, Calcium Chloride, and Others) are creating a market and the forecast for the growth of the Hydrochloric Acid market.
8. Demand by Region
Analyzing the change in demand of Hydrochloric Acid in different regions, i.e., Germany, France, Spain, and Rest of Europe, that can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Hydrochloric Acid. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Hydrochloric Acid.
11. Company Share
Figure out what proportion of the market share of Hydrochloric Acid is currently held by leading players across the globe.
12. Manufacturing Process
Discover insights into the intricate manufacturing process of Hydrochloric Acid.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected Europe market size of Hydrochloric Acid in terms of volume for 2032?
Ans:
The Europe market size of Hydrochloric Acid is expected to reach approximately 23 thousand tonnes by 2032, with an expected CAGR of 4.20%.
Q2.
What are the major end-use industries of Hydrochloric Acid?
Ans:
Hydrochloric Acid is used in a wide range of end use industries including Steel pickling, Food Industry, Oil and gas well acidizing, Brine Treatment, and Calcium Chloride.
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