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U.S. Hydrochloric Acid Market Size, Share & Trends Analysis Report By Application, By States And Segment Forecasts, 2021 - 2028

·3-min read

U. S. Hydrochloric Acid Market Size, Share & Trends Analysis Report By Application (Oil Well Acidizing, Food Processing, Steel Pickling, Ore Processing, Pool Sanitation, Calcium Chloride), By States, And Segment Forecasts, 2021 - 2028.

New York, Jan. 05, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "U.S. Hydrochloric Acid Market Size, Share & Trends Analysis Report By Application, By States And Segment Forecasts, 2021 - 2028" -

U.S. Hydrochloric Acid Market Growth & Trends

The U.S. hydrochloric acid market size is estimated to reach USD 796.2 million by 2028 according to a new report. The market is projected to register a CAGR of 4.8% from 2021 to 2028. The growth can be attributed to the increasing consumption of HCL in the food and beverages industry as an acidifier coupled with rising demand for steel in the construction industry for manufacturing construction materials, such as metal roofing, steel beams, and mounting brackets.

The growth of the U.S. market for hydrochloric acid is attributed to the factors such as the increasing demand from the oil and gas industry and growing demand for pickling in the steel industry. Pickling is used for the removal of impurities, such as inorganic contaminants, rust or scale, stains, from ferrous metals, copper, precious metals, and aluminum alloys.

Chlorine and hydrogen are the key raw materials required for producing HCL. About 70% of the chlorine produced in the U.S. is used for manufacturing a variety of organic chemicals such as vinyl chloride monomer, glycerin, ethylene dichloride, chlorinated solvents, and glycols. Natural gas is the primary source for producing hydrogen. Hydrogen can be extracted from biomass and fossil fuel or a mix of both.

The U.S. hydrochloric acid market is moderately fragmented and manufacturers such as Olin Corporation and Occidental Petroleum have integration across the value chain to maintain consistent raw material supply and quality of the final product.

U.S. Hydrochloric Acid Market Report Highlights
• In 2020, food processing emerged as the dominant application segment by contributing around 30% of the revenue share. HCL is used in food processing to process a variety of products. It is used to produce corn syrup, soy sauce, and other products
• Steel pickling was the second-largest application segment in 2020 and is projected to expand at a CAGR of 4.9% by 2028. Pickling is necessary for steel products undergoing further processing like the coating of strip and sheet, wire production, and tin mill products
• California was the dominating state in the country in 2020 accounting for 61% of the market share. The rapidly growing construction sector in the state is predicted to drive the demand for HCL in the steel pickling application over the forecast period
• New Mexico is anticipated to expand at the highest CAGR in the forthcoming years. The increasing rate of oil and gas production in the state is expected to bolster the demand for hydrochloric acid in the oil well acidizing over the forecast period
Read the full report:

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