The global Hydrochloric Acid market is forecast to reach USD 8.60 Billion by 2027, according to a new report by Reports and Data. Hydrochloric acid, also known as muriatic acid, is a transparent, very strong solution of hydrogen chloride in water. It is produced using four production methods, a combination of chlorine and hydrogen, chlorination of organic, as a group of co-product in the manufacture of silica, and chemicals, salt-sulfuric acid production process. It is used as an essential product of the chemical industry and is used in many industrial processes such as food manufacturing, oil well acidizing, ore processing, producing calcium chloride, and steel pickling.
The rapid growth in the construction and automotive sector, the demand for steel and allied products is increasing. Hydrochloric acid is used in metal prefixing for galvanizing and soldering, aluminum etching, and metal cleaning. Rapid industrialization and growth in the chemical manufacturing industry is expected to affect the market positively. Rise in investment in the pharmaceutical industry for applications like pH control, catalyst, and others are also driving the demand of the market product.
India is among the largest steel producer across the globe due to the increasing investments and government initiatives in the industry. The Indian government is targeting an increase in the share of GDP from the manufacturing sector, from 16% to 22% in the year 2022. Initiatives like “Make in India” and sector-specific incentives to various manufacturing companies, aiming to make India a global manufacturing hub.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/hydrochloric-acid-market
