U.S. Hydrochloric Acid Market Estimated to Cross US$ 810.2 million by 2030

According to Nova one advisor, The U.S. Hydrochloric Acid market size was valued at US$ 560.9 million in 2021 and is expected to hit US$ 810.2 million by 2030, growing at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030.

Growth Factors:

This is attributed to the increasing water treatment activities across the country due to rising awareness regarding the environment. Hydrochloric acid is used in various applications such as oil well acidizing, food processing, steel pickling, ore processing, pool sanitation, calcium chloride, and others. The market has witnessed substantial growth over the past couple of years due to the growing construction activities in states such as California, Georgia, New York, Washington, and Pennsylvania. In 2020, food processing applications dominated the demand for hydrochloric acid due to high utilization for producing corn syrup, soy sauce, and other products. HCL is also used in oil well drilling applications to encourage the flow of crude oil and gas into the well.

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Report Scope of the U.S. Hydrochloric Acid Market

The key raw materials used to produce HCL include hydrogen and chlorine. HCL can be produced in many ways, including the chlorination of organic compound (chlorination reaction), a combination of hydrogen and chlorine, the production process of salt-sulfuric acid, and as a co-product in the manufacturing of silica. About 90% of HCL is produced from the chlorination process in the U.S. owing to its low cost and high purity obtained through this process. Some examples of chlorination reactions include the production of trichloroethylene, dichloromethane, and perchloroethylene in which HCL is obtained as a byproduct.

The prices of hydrochloric acid have been steadily increasing over the years, this can be attributed to the fact that the prices of the raw materials have been steadily increasing due to disturbance in the supply scenario. Also, the increase in research and development activities coupled with the increasing cost of technology has resulted in increased prices over the year. However, over the forecast period, the prices are expected to decrease owing to the stability of the supply chain and the easy availability of raw materials.

Application Insights

The food processing segment accounted for the largest revenue share of 31.0% in 2021. This is attributed to higher usage of hydrochloric acid in food processing applications such as the production of hydrolyzed vegetable protein and soy sauce. It is used as an acidifier in products such as vegetable juices, sauces, and canned goods and for acidulating crushed bones in the manufacturing of gelatin.

The calcium chloride segment is anticipated to expand at the highest CAGR over the forecast period. Hydrochloric acid is used in the production process of calcium chloride which is used in several applications such as industrial processing, dust control, concrete treatment, tire ballasting, oil recovery, and others. Wide industrial applications of calcium chloride are forecasted to bolster its demand, which, in turn, is likely to have a positive impact on the demand for hydrochloric acid in the predicted years.

Hydrochloric acid is used in several other applications to produce organic chemicals. It can be used to produce polycarbonate resins, p-phenylenediamine, polyvinyl chloride resins, ethanol, and bisphenol-A. In the pharmaceutical industry, hydrochloric acid is used for pH control, as a reduction agent, as a catalyst in synthesis, and for the deionization of water.

Regional Insights

California accounted for the largest revenue share of around 62% in 2021. This is attributed to the fast construction growth in California over the past few years owing to the rising investments in the sector. Steel is a major component used in construction activities due to its immense strength, ductility, flexibility, and cost-effectiveness. Thus, it is in high demand from the construction industry, which is anticipated to fuel the demand for steel picking applications in the state.

New Mexico is predicted to register the highest CAGR over the forecast period. Oil and gas is one of the major industries in New Mexico and accounts for a large amount of government spending in the state. According to the State’s Oil Conservation Division, New Mexico produced around 368.1 million barrels of oil in 2021, registering a 11.1% increase compared to 2019. 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.

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Some of the prominent players in the U.S. Hydrochloric Acid market include:

• ASHTA Chemicals
• Thermo Fisher Scientific Inc.
• ERCO Worldwide
• Continental Chemical Company
• Miles Chemical Company Inc.
• Tronox Holdings plc
• Jones-Hamilton Co.
• Olin Corporation
• Spectrum Chemical Manufacturing Corp.
• Detrex Corporation
• TRInternational
• Formosa Plastics Corporation, U.S.A.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Application
  • Oil Well Acidizing
  • Food Processing
  • Steel Pickling
  • Ore Processing
  • Pool Sanitation
  • Calcium Chloride
  • Others
• By Regional
  • U.S.
    • Utah
    • California
    • Nevada
    • Arizona
    • Idaho
    • Colorado
    • Oregon
    • Wyoming
    • Montana
    • New Mexico
    • Rest of U.S.

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Key Questions Answered in U.S. Hydrochloric Acid Market Report

What will be the sales/revenue generated by U.S. Hydrochloric Acid across all regions during the forecast period?

What are the opportunities in the U.S. Hydrochloric Acid market?

What are the major drivers, restraints, opportunities, and threats in the market?

Which regional market is set to expand at the fastest CAGR during the forecast period?

Which application is expected to generate the highest revenue U.S. in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?

What is the market position of different companies operating in the U.S. market?

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