Hydrogen Chloride Market Size, Share, Growth, and Industry Growth by Type (Technical Grade and Electronic Grade), By Application (Chemical Industry, Semiconductor Industry, Pharmaceutical Industry, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Hydrogen Chloride Market REPORT OVERVIEW

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The global hydrogen chloride market size was USD 932.3 million in 2021 and is projected to touch USD 2231.51 million by 2031, exhibiting a CAGR of 9.1% during the forecast period.

The hydrogen chloride compound has the chemical formula HCl and as such is a hydrogen halide. It is a colorless gas at room temperature, which formulates white fumes of hydrochloric acid upon connection with atmospheric water vapor. Hydrogen chloride is a colorless to slightly yellow, caustic, fireproof gas that is thicker than air and has a sturdy nauseating odor. Hydrogen chloride gas and hydrochloric acid are significant in technology and industry. Affecting skin and in the lung tracts, hydrogen chloride is measured as a moderate to a high degree of dangerous gasses.

The foremost feature responsible for the development of the global hydrogen chloride market is increasing demand from the oil and gas industry and preserving steel manufacturing.

COVID-19 Impact: Restrictions on Various Industries to Obstruct Market Growth

The growing COVID fears have inspired the demand for the sterilization of buildings and households in practically all parts of the world. A reduction in the supply of raw materials to the business was noticeable which disrupted the supply chain. There was an economic influence on the companies and also on the manufacturing facilities.

The government imposed lockdown guidelines and also work from home rules and protocols for the employees were put onward. Many of the nations have been on severe lockdown for months and many workshops and businesses were operating on a minimal workforce.  All these instructions were made by the government for the protection of the country’s individuals.

LATEST TRENDS

"R&D Activities to Improve Market Progress"

The growing funds in the oil & gas industry and mining industry have caused market contributors responsible for R&D for use development providing plenty of prospects for hydrochloric acid market development. Moreover, expansions in the chemical manufacturing sector are composed to definitely affect muriatic acid. Increasing HCl applications in the medicinal industry for pH control, use as a compound, deionization of water, and as a decrease mediator are further anticipated to generate growing prospects.

Hydrogen Chloride Market Segmentation

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• By Type Analysis

As per type, the market is classified into Technical Grade and Electronic Grade.

• By Application Analysis

Based on application, the market is categorized into Chemical Industry, Semiconductor Industry, Pharmaceutical Industry, and Others.

DRIVING FACTORS

"Increasing Demand from Pharmaceutical Sector to Facilitate Market Development"

The increasing demand for ultra-high gas is very high in the pharmaceutical sector because HCl is used for adjusting medical devices, disinfecting medical kits, and consuming dental and surgical tools. Moreover, it is also used for sanitizing silicon and engraving semiconductor quartz, used openly during the polishing phase of monocrystalline semiconductor crackers.

"Increasing Adoption in Electronic Industry to Foster Industry Progress"

 The development of this market is credited to the speedily growing and thriving electronics and engineering businesses. The increasing demand for numerous alternative products such as the usage of electronic-grade phosphoric acid for inscription dedications in the semiconductor industry will also add an enhancement to the hydrogen chloride market growth. Moreover, the existence of several large-scale producers in the global hydrogen chloride market is expected to strengthen the market in the coming years.

RESTRAINING FACTORS

"High Cost to Hinder Market Progress" 

The gas is heavier than air and it has the necessity to be shipped and stored in high-pressure chambers. Thus, high kit costs and high transport costs are anticipated to restrain the market in the coming years. However, the damaging effects of hydrochloric acid on human being and the atmosphere are anticipated to confine the progression of the market. The rising competition along with the increasing cost of fabrication among the corporations will also impede the growth of the hydrogen chloride market.

Hydrogen Chloride Market REGIONAL INSIGHTS

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"Increasing Demand from End-User Sector to Propel Market Progress in Asia Pacific"

Asia Pacific held the largest hydrogen chloride market share. On account of the existence of prominent players, increasing population, and a great amount of end-use sectors such as food and beverage, textile, and chemical industries. China is reflected to be the chemical manufacturing heart of the world and China, along with South Korea and Japan, are the prominent markets for electronic components engineering.

North America hydrogen chloride markets are measured to enlarge at a stable progress rate over the forecast period importantly due to the controlling outline in the region.

KEY INDUSTRY PLAYERS

"Incorporation of Research and Development Strategies to Improve their Brand Image"

Due to the existence of numerous local and foreign industry players, the hydrogen chloride market is fragmented and competitive. These players have employed a variety of measures to maintain their leadership positions and to meet the escalating demands of their prestigious clients, including alliances, partnerships, contracts, geographic expansions, the introduction of new products, joint ventures, and more. To improve their portfolios and establish a foothold in the market, major businesses are also investing heavily in research and development projects.

Industry Development

• September 2019: DSM Human Nutrition & Health had productively custom-made a brand-new hydrogen chloride gas producing sector at its Genzach-Wyhlen site in Germany.

List of Market Players Profiled

• Versum Materials (U.S.)
• Praxair (U.S.)
• Linde Industrial Gas (U.S.)
• Air Liquide (France)
• Shandong Xinlong Group (China)
• BASF (Germany)
• Juhua Group (China)
• Wandali Special Gas (China)
• Chinalco (China)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.