Global Hydrochloric Acid Market – Growing Demand for PVC to Promote Growth | Technavio

LONDON–(BUSINESS WIRE)–#Research–The latest market research report by Technavio
on the global
hydrochloric acid market predicts a CAGR of around 5%
during the period 2018-2022.

The report segments the global hydrochloric acid market by end-user
(food industry, steel industry, oil industry, and chemicals industry)
and by geography (the Americas, EMEA, and APAC). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global hydrochloric acid market,
according to Technavio chemicals
and materials researchers:

• Growing demand for PVC: a major market driver
• Availability of substitutes of hydrochloric acid: emerging market trend
• APAC dominated the global hydrochloric acid market with approximately
  43% share in 2017
• In 2017, the food sector held the largest share of the market

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Growing demand for PVC: a major market driver

The growing demand for PVC is one of the major factors driving the
global hydrochloric
acid market. PVC is one the most extensively used
plastics that is produced by the polymerization of the vinyl chloride
monomer. PVC is made of 57% chlorine that is derived from
industrial-grade salt and 43% carbon extracted predominantly from oil or
gas via ethylene. Hydrochloric acid is usually used in the manufacturing
of organic compounds such as dichloroethane and vinyl chloride, which is
later used to manufacture PVC. PVC has an amorphous structure with
chlorine atoms. It has fire retardant properties and oil/chemical
resistance.

According to a senior analyst at Technavio for research on specialty
chemicals, “Some of the properties of PVC are abrasion
resistance, lightweight, high mechanical strength, and toughness that
make it a widely used material in major end-user industries such as
automotive, construction, packaging, electrical and electronics, and
others. PVC is generally used in many products such as pipes and
fittings, rigid plates, rigid films, flooring, automotive parts, cables
and wires, and packaging materials.”

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Availability of substitutes of hydrochloric acid: emerging market
trend

There are many substitutes of hydrochloric acid, which are available in
the market. They include emerald safe acid, phosphoric acid, sodium
bisulfate, and trisodium phosphate that have similar properties as that
of hydrochloric acid. These chemicals or compounds can be used as
substitutes of hydrochloric acid because hydrochloric acid is highly
corrosive and toxic in nature. Emerald safe acid, phosphoric acid, and
sodium bisulfate are presently used as substitutes of hydrochloric acid
in major applications. Emerald safe acid is a non-corrosive chemical
that is used in the de-scaling of boilers, evaporators, steam coils, and
papermaking equipment.

Global market opportunities

In terms of regional dominance, APAC led the global hydrochloric
acid market, accounting for a share of approximately 43%.
The Americas contributed the second largest share in the market. The
market in the APAC region is expected to witness significant growth
during the forecast period. However, the market in the Americas and EMEA
will project a slight decrease in market share during this period.

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