Friday, 28 August 2015

Hydrochloric Acid Market Segment and Forecast up to 2023, Research Reports : Transparency Market Research

Hydrochloric acid (HCl) is colorless, corrosive, strong mineral acid with various industrial applications. HCL is used in production of various chemicals including vinyl chloride and methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), which are used for large scale production of poly vinyl chloride (PVC) and polyurethane. Hydrochloric acid is produced industrially through 40 processes as co-product and consumed in manufacturing of 110 chemicals. HCl finds application in end user industries that include oil-well drilling, steel pickling, pharmaceuticals and food processing, fluorocarbon and chlorine burners among others.

Growing demand from MDI/TDI industry is expected to drive the hydrochloric acid market. MDI/TDI industry is driven by demand from polyurethane and plastics industry. Polyurethane and plastics are replacing conventional materials due to their advantageous properties such as low cost, low weight and high resistant. In addition, rising demand from oil well drilling industry is expected to boost the market. Hydrochloric acid is used for oil well acidizing that improves permeability and flow of reservoir rock by dissolving dolomite, calcite cement and limestone. Oil well drilling industry is driven by increased exploration and production activities worldwide and discovery of new shale gas deposits. Further, rising demand from food processing industry is expected to drive the hydrochloric acid market. HCl is used for processing of high fructose corn syrup (HFCS) to regenerate ion exchange resins that are used for removing impurities from raw material. HFCS is an important component of beverages and other food products. HCl is used in the production of soy sauce and hydrolyzed vegetable proteins as well as in acidizing of crushed bones in gelatin production. Food processing industry is driven by rising demand from growing population and changing lifestyle in developing countries. In Addition, growing demand from steel pickling and metal processing industry is expected to fuel the HCl market. Hydrochloric acid is used to remove iron oxides and scale from the steel surface by increasing their solubility. It is also used in aluminum etching, metal soldering, metal cleaning, galvanizing, and metal prefixing. Rising demand for steels and metal industry from automotive, construction, infrastructure and other industries is driving the steel pickling and metal processing market which in turn expected to drive HCl market.

However, decreasing demand of fluorocarbons due to environmental hazards is expected to hamper HCl market growth. HCl is used in production of fluorocarbon and has been an important component. Further, in food processing industry, HCl is claimed to leach out heavy metal ions such as mercury which has adverse effect on human health. These factors are expected to inhibit the market growth of HCl. Demand for high purity hydrochloric acid and huge supply demand gap due to very low production are expected to provide opportunities for the market in the near future.
Asia Pacific was the largest consumer of hydrochloric acid followed by North America. Growing demand from TDI/ MDI industry and food processing industry is expected to drive the market in this region. In North America, the demand from oil well acidizing industry is expected to boost the demand from HCl due to discovery of new shale gas deposits and increase in the exploration activities. Demand for hydrochloric acid from Europe was submissive due to environmental regulations regarding metal and food processing procedures and effluent disposal.

Some of the key players in this market include BASF SE, Du Pont, Dow Corning, Bayer, Lyondell Chemical Company, and Pioneer America among others.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
  • North America
  • Asia Pacific
  • Europe
  • Middle East and Africa
  • Latin America
This report provides comprehensive analysis of
  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

Reasons for Buying this Report
  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments

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