Competitive Landscape of Hydrochloric Acid Market in Europe: Analysis and Trends
The largest producers of Hydrochloric Acid in H1 2023 were INEOS Group Limited, Vynova Group, Kemira Oyj, Kem One SAS, BASF SE, Covestro AG. In H1 2023, prices for hydrochloric acid in Europe overall remained bearish. The European market for hydrochloric acid was under pressure due to the fundamentals of weak demand and excess supply. In an effort to lessen the consequences of the weak end-use demand from the steel industries, there was a decline in purchasing activity, which led to a reduction in production rates of Hydrochloric Acid. The Europe Hydrochloric Acid (HCl) market has reached around 1530 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.82% during the forecast period until 2032. As the building and automotive industries grow, so does the need for steel and related materials. As a by-product of the production of several compounds, hydrochloric acid is produced. These substances include vinyl chloride monomer, isocyanates, organics, fluorocarbons, an...