GITNUX MARKETDATA REPORT 2024

Hydrochloric Acid Industry Statistics

The hydrochloric acid industry is expected to demonstrate steady growth in the coming years due to increasing demand in various end-use sectors such as chemicals, pharmaceuticals, and water treatment.

With sources from: 360marketupdates.com, grandviewresearch.com, ihsmarkit.com, researchandmarkets.com and many more

Statistic 1

Global hydrochloric acid market was valued at $5.01 billion in 2018.

Statistic 2

The market is expected to grow at a CAGR of 5% from 2019 to 2025.

Statistic 3

Asia-Pacific region dominated the global market in 2018, accounting for more than -one-third of the total share.

Statistic 4

In 2017, U.S. hydrochloric acid market size was estimated at around USD 1.04 billion.

Statistic 5

Captive consumption dominated the global hydrochloric acid industry and accounted for 55% market share in 2016.

Statistic 6

In Europe, the market is expected to witness growth of above 4.5% CAGR up to 2024.

Statistic 7

Among the applications of HCl, the steel industry led in 2018 with 20% of the market share.

Statistic 8

As per consumption, hydrochloric acid market in India will likely grow at 2.5% CAGR in forecast period.

Statistic 9

Global hydrochloric acid consumption for organic chlorides production was 21.36 million tonnes in 2019.

Statistic 10

The food processing industry application segment accounted for 13.6% of the total market share in 2016.

Statistic 11

Chlor-alkali industry is one of the largest consumers of hydrochloric acid representing 47% of the consumption.

Statistic 12

The inorganic segment is expected to grow at a CAGR of nearly 5% during the forecast period (2021-2026).

Statistic 13

The hydrochloric acid market contracted by 2.2% to $6.6 billion in 2020 due to COVID-19.

Statistic 14

The market for hydrochloric acid is expected to surpass USD 7.5 billion by 2026.

Statistic 15

US to experience annual hydrochloric acid consumption growth of roughly 2% in 2021-2026.

Statistic 16

Hydrochloric acid is forecasted to hold its 35% share in global chemical imports in 2021.

Statistic 17

In the UK, the market size for hydrochloric acid is expected to reach around USD 167 million by 2024.

Statistic 18

Caustic Soda manufacturing accounts for over 75% of total Hydrochloric Acid production in Western Europe.

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In this post, we will explore key statistics and insights surrounding the global hydrochloric acid industry. From market valuations and growth projections to regional dominance and application trends, we will take a comprehensive look at the market dynamics shaping this essential chemical sector.

Statistic 1

"Global hydrochloric acid market was valued at $5.01 billion in 2018."

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Statistic 2

"The market is expected to grow at a CAGR of 5% from 2019 to 2025."

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Statistic 3

"Asia-Pacific region dominated the global market in 2018, accounting for more than -one-third of the total share."

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Statistic 4

"In 2017, U.S. hydrochloric acid market size was estimated at around USD 1.04 billion."

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Statistic 5

"Captive consumption dominated the global hydrochloric acid industry and accounted for 55% market share in 2016."

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Statistic 6

"In Europe, the market is expected to witness growth of above 4.5% CAGR up to 2024."

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Statistic 7

"Among the applications of HCl, the steel industry led in 2018 with 20% of the market share."

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Statistic 8

"As per consumption, hydrochloric acid market in India will likely grow at 2.5% CAGR in forecast period."

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Statistic 9

"Global hydrochloric acid consumption for organic chlorides production was 21.36 million tonnes in 2019."

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Statistic 10

"The food processing industry application segment accounted for 13.6% of the total market share in 2016."

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Statistic 11

"Chlor-alkali industry is one of the largest consumers of hydrochloric acid representing 47% of the consumption."

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Statistic 12

"The inorganic segment is expected to grow at a CAGR of nearly 5% during the forecast period (2021-2026)."

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Statistic 13

"The hydrochloric acid market contracted by 2.2% to $6.6 billion in 2020 due to COVID-19."

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Statistic 14

"The market for hydrochloric acid is expected to surpass USD 7.5 billion by 2026."

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Statistic 15

"US to experience annual hydrochloric acid consumption growth of roughly 2% in 2021-2026."

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Statistic 16

"Hydrochloric acid is forecasted to hold its 35% share in global chemical imports in 2021."

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Statistic 17

"In the UK, the market size for hydrochloric acid is expected to reach around USD 167 million by 2024."

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Statistic 18

"Caustic Soda manufacturing accounts for over 75% of total Hydrochloric Acid production in Western Europe."

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Interpretation

The global hydrochloric acid industry has shown steady growth in recent years, with the market valued at $5.01 billion in 2018 and expected to reach over $7.5 billion by 2026. The Asia-Pacific region dominated the market in 2018, while the US and Europe are also significant players. Captive consumption and various applications in industries such as steel, food processing, and chlor-alkali drive the market demand. Despite a slight contraction in 2020 due to COVID-19, the industry is projected to continue its upward trajectory. With promising growth forecasts in key regions and applications, the hydrochloric acid market presents opportunities for further expansion and development in the coming years.

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