Published On : 19 Jul 2017
QYResearchReports.com has announced the addition of a new market intelligence report, titled “Global Hydrochloric Acid Market Professional Survey Report 2017.” The in-depth report of hydrochloric acid market offers in-depth insights into the key market dynamics, notable trends, current and emerging applications, lucrative growth avenues, and emerging competitive scenario. The research highlights recent advancements in manufacturing technologies and key investment trends in the production of hydrochloric acids. The study evaluates the primary factors boosting the industrial applications of hydrochloric acids in major regions. In addition, it analyses the estimated market share and size of various segments from 2017 to 2021.
The report takes a closer look at the revenue and market share of major manufacturers and assesses the impact of product innovations made by them on the strategic dynamics of various market participants. The demand for hydrochloric acid is primarily driven by their applications in variety of industries such as water treatment, paper and pulp industry, food processing, metals, oil and gas, and chemicals. It is one of the most versatile inorganic acids and is extensively used as a raw material in manufacturing chloride salts and for surface treatment of metals.
A number of emerging applications in the chemical manufacturing sector is expected to bode well for the hydrochloride market, as it forms an integral part of chlorine industry. The growing applications of hydrochloric acids in making a variety of organic chemicals through chlorination reactions is anticipated to boost the market. The rising investments in the oil and gas sector in various parts of developing and developed regions is positively impacting the growth of the market. The growing prominence of hydrochloric acids to be used for the bleaching of chemical pulp is expected to augur well for the market in the coming years. There is a growing number of applications of hydrochloric acids in the pharmaceutical industry as an excellent reduction agent, controlling pH factor, and deionization of water.
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A number of niche applications emerging in Asia Pacific is expected to accentuate the hydrochloric market. Some of the major regional segments of the market are North America, Europe, Southeast Asia, with a focus on countries such as India, Japan, and China. A rapid pace of industrialization in various emerging economies has catalyzed the Asia Pacific market for hydrochloric acids.
Recent advancements in production processes have enabled leading manufacturers to reduce impurities in hydrochloric acids and reduce the percentage of metals. This is expected to boost the hydrochloric acid market. Several companies focus on manufacturing chemically pure hydrochloric acid that fulfills the quality requirements of standards set up by prominent regional agencies. These high-grade hydrochloric acids have substantial demand in the pharmaceuticals and foods industries. This is expected to open up a number of exciting opportunities for players in developed and developing nations.
Manufacturers vying for a significant share in the hydrochloric acid market include Westlake Chemical Corporation, Coogee Chemicals, Dupont, Solvay S.A., BASF, INOVYN, Covestro, Occidental Petroleum Corporation, Olin Corporation, and Dow Chemical.
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