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Competitive Landscape of Hydrochloric Acid Market in Europe: Analysis and Trends

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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.

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.   

 

Read Full Report Here: https://www.chemanalyst.com/industry-report/europe-hydrochloric-acid-market-795

 

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. 

 

Request Sample Form: Europe 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.

 

About Us: 

 

ChemAnalyst is a subsidiary of TechSci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.

The ChemAnalyst team also assists clients with Market Analysis for over 1200 chemicals including assessing demand & supply gaps, locating verified suppliers, choosing whether to trade or manufacture, developing Procurement Strategies, monitoring imports and exports of Chemicals, and much more. The users will not only be able to analyze historical data for past years but will also get to inspect detailed forecasts for the upcoming years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.

ChemAnalyst is your one-stop solution for all data-related needs. We at ChemAnalyst are dedicated to accommodate all of our world-class clients with their data and insights needs via our comprehensive online platform.

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