Acid pickling rolls are primarily used in processing lines of steel manufacturing industries. They help in removing mill scale from hot rolled steel coils before they are passed through annealing or galvanizing processes. This improves corrosion resistance and surface quality of steel. Acid pickling rolls are also used in processing lines of automotive, construction, oil gas industries where quality steel is required.
The Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing steel production around the world is a key driver for the acid pickling roll market. Rising demand from end-use industries like construction and automotive will boost steel consumption. According to World Steel Association, crude steel production increased by 3.7% year-on-year to reach 1,929.5 Mt in 2021.
Another driver is the increasing focus on surface treatment of steel to enhance its corrosion resistance and durability. Pickling helps in producing high quality steel required by various industrial applications. The need for high performance and durable steel products is encouraging steel manufacturers to opt for efficient pickling technology using acid pickling rolls.
SWOT ANALYSIS
Strength: The acid pickling roll market has been gaining increasing preference across various industries including steel, energy, and manufacturing owing to its characteristics such as high corrosion resistance, precision, and durability. Acid pickling rolls can withstand harsh chemicals and high temperatures allowing optimal performance. Manufacturers offer customized solutions as per industrial requirements.
Weakness: Fluctuations in raw material prices impact the overall production cost of acid pickling rolls. Frequent maintenance and replacements increase the operating costs. Concerns regarding safety of workers while handling acid solutions pose operational challenges.
Opportunity: Growing metals industry in Asia Pacific driven by increasing steel consumption in China and India present lucrative growth prospects. Rising energy demand fosters opportunities in oil gas industry. Advancing technologies to develop innovative pickling rolls with longer lifespan and auto diagnostics open new avenues.
Threats: Strict environmental regulations regarding disposal of acid waste limit expansion plans of manufacturers. Substitute technologies for surface treatment may reduce preference for traditional pickling processes over long term. Economic slowdowns impact capital investments of end-use industries.
KEY TAKEAWAYS
The global acid pickling roll market is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing steel production across developing economies. Rapid industrialization and infrastructural projects in Asia Pacific augur well for the market.
Regional analysis
Asia Pacific dominates the global acid pickling roll market, accounting for over 35% share in 2023. China, India, and Japan are major consumers due to growing metal manufacturing industry. North America and Europe also offer lucrative opportunities owing to presence of leading automotive and energy industry. Key manufacturers are focusing on these regions to tap the growing replacement demand.
Key players
Key players operating in the acid pickling roll market are Sandvik AB, Jindal Stainless Ltd., ArcelorMittal, Outokumpu Oyj, AK Steel Holding Corporation, Tata Steel Limited, POSCO, ThyssenKrupp AG, Tenova S.p.A., Andritz AG, CMI Industry Metals Inc., Fives Group, Unison Rolling Technology, Voestalpine AG, Nippon Steel Sumitomo Metal Corporation. Manufacturers strive to build long-standing relationships with end-users to strengthen market position.
