Hydrochloric Acid Electrolysis Market Is Expected To Reach USD 681.0 Million By 2023
Oct 6, 2017
Global Hydrochloric Acid Electrolysis Market Information Report, By Technology , By Application and By Region - Forecast To 2023
Pune, India - October 6, 2017 /MarketersMedia/ —
Market Highlights:
HCl electrolysis is cheifly deployed where hydrogen chloride or hydrochloric acid recycling is desired. Hydrogen chloride is a by-product of numerous processes in chemical industry, which use chlorine due to its high reactivity for selective formation of desired products. In many cases, chlorine is subsequently removed and the final products are chlorine-free. Simply recycling the HCl through electrolysis obviates the need for on-site chlorine production even the transport of chlorine.
The industrially generated hydrochloric acid is often generated as a by-product of chlorine consuming process such as the chlorination of organic compounds. The chlorination reactions produce HCl as a by-product and the recovery of chlorine from HCl has inevitable commercial importance in the industry. This is predominantly due to the insufficient purity of chlorine or very low concentration for recycle. On the other hand, to meet stringent environmental conditions, HCl has to be neutralized in the industries before being disposed.
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HCl electrolysis enables chlorine recovery from hydrogen chloride or hydrochloric acid and has several advantages such as the increased sustainability of operations for companies. Also, the HCl electrolysis market is majorly driven by the fact that the process makes the businesses independent of volatile chlorine and hydrochloric acid prices in the outside market. As Chlorine is one of the most important base chemicals in many industries to produce many useful products, the recovery of chlorine from HCl electrolysis is certainly becoming important industrially with time. In addition to that, the recovery of chlorine from HCl electrolysis reduces the need to develop new chlor-alkali plants for the chlorine manufacturing and eliminates the risk of HCl transport and storage.
However, the existence of other proven chlor-alkali processes for recovering chlorine and increased environmental impact of chlorine due to its high reactivity and risk in transportation, are identified to be the major restraints of the market.
Geographically, Asia-Pacific accounted for the largest market share of 54.60% in 2016, with a market value of USD 681.0 million and is projected to grow at the highest CAGR of 5.49% during the forecast period. Whereas, North America was the second-largest market in 2016, valued at USD 258.2 million in 2016; it is projected to grow at a CAGR of 5.00%
Key Players:
• Thyssenkrupp AG, E. I. du Pont de Nemours and Company
• Covestro AG
• Mitsui Chemicals, Inc.
• Sumitomo Chemical Co. Ltd.
• Bluestar (Beijing) chemical machinery Co. Ltd.
Brief TOC:
1 Executive Summary
1.1 Market Synopsis
2 Introductions
2.1 Definition
2.2 Scope of Study
2.3 Assumptions
2.1 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
Continue…
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Contact Info:
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Address: Hadapsar, Pune
Phone: +1 646 845 9312
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Source: MarketersMedia
Release ID: 246635
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