by Acid pickling is a process of removing rust and scale from steel. It is done using an acid solution which cleans the surface of steel. Acid pickling rolls are used for the acid pickling process in various industries such as steel, automotive, pipes and tubes etc. Acid pickling rolls play an important role in increasing production output and quality. Pickling rolls ensure consistent metal thickness and surface texture while pickling large volumes of metal every day.
The global 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 key trends:
One of the key trends in the acid pickling roll market is rising demand from the automotive industry. Steel is widely used in the manufacturing of automobiles. The growing automotive production around the world is increasing the demand for acid pickling rolls from automotive OEMs and steel producers.According to International Organization of Motor Vehicle Manufacturers, global passenger cars production increased from 73 million units in 2015 to 80 million units in 2019. This rising automotive production is driving the growth of acid pickling roll market.Another trend is development of advanced acid pickling rolls. Manufacturers are focusing on developing rolls that have improved wear resistance, longer life and can handle higher temperatures during pickling. This helps in increasing production efficiency.
Porter’s Analysis
- Threat of new entrants: Low manufacturing costs and economies of scale pose barriers for new players to enter into this market.
- Bargaining power of buyers: The presence of several global and large integrated manufacturers reduces the bargaining power of buyers.
- Bargaining power of suppliers: Raw material suppliers have moderate bargaining power due to availability of substitute materials.
- Threat of new substitutes: Threat is low as acid pickling rolls provide optimum results at economical costs.
- Competitive rivalry: Intense competition among existing players especially from Asia and Europe regions.
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 demand from steel industry. The regional analysis is fastest growing in Asia Pacific region due low costs of production.The global Acid Pickling Roll market size for 2023 is US$ 1,167 Mn. The market is expected to grow substantially in Asia Pacific region owing to presence of emerging economies like China, India and increasing steel production. China dominates the global acid pickling roll market with around 30% market share in 2023.
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. These players are focusing on new product developments to strengthen their market position
