The Acid Pickling Roll Market to witness robust growth at 3.5% CAGR owing to steel sector development

The acid pickling roll market involves rolls used in steel production for removing rust and scale from steel strip or sheet. Acid pickling rolls help descale and clean steel strips through the chemical action of acids such as hydrochloric acid and sulphuric acid. These rolls are corrosion-resistant, durable, and offer consistent and uniform stripping of impurities from steel surfaces. The growing steel sector globally has increased the demand for acid pickling rolls from steel manufacturers.

The Global Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030.

Key Takeaways

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. Sandvik AB holds a significant market share due to its wide range of acid pickling rolls.

The growing demand from the automobile and construction industries is driving the acid pickling roll market. Higher demand for stainless steel and carbon steel from these end-use industries will boost acid pickling roll consumption. Technological advancements in acid pickling rolls like coating materials improving corrosion and wear resistance will support market growth.

Market Trends

Growing infrastructure development and government initiatives for steel sector expansion: Governments across regions are investing in road, bridge, and building construction projects. This is expected to fuel steel demand and subsequently drive the acid pickling roll market. For instance, India’s National Infrastructure Pipeline aims to invest $1.5 trillion by 2025 to develop infrastructure.

Rising consumption of high-grade stainless steel: Stainless steel finds increasing application in industries like oil gas, chemical processing, and desalination plants due to its corrosion resistance. Higher stainless steel output will propel the need for acid pickling rolls.

Market Opportunities

Development of advanced surface coating and treatment techniques: Surface modification through advanced coating materials can help acid pickling rolls last longer. This presents an opportunity for manufacturers to develop innovative coating solutions.

Growth in electric vehicle market: To reduce vehicle weight and improve efficiency, automobile companies are using more galvanized steel and aluminum. This shifts demand towards carbon steel and aluminum, benefiting upstream acid pickling roll market.

The COVID-19 pandemic has impacted the growth of the acid pickling roll market. During the initial lockdown phase from 2020 to 2021, production and supply chain activities were halted which affected the demand and supply of acid pickling rolls significantly. European countries were impacted the most during the first wave of the pandemic as countries like Italy, Spain, UK went under strict lockdowns. North America also witnessed considerable disruption due to restrictions imposed to curb the spread of the virus. This led to a decline in steel production which is a major end-use industry for acid pickling rolls.

However, with gradual easing of lockdowns and resumption of industrial activities from mid-2021, the market has started recovering. The implementation of safety measures and development of vaccines helped restart production facilities. Also, infrastructure development plans by governments across major economies have aided the revival of the steel industry. For instance, the US government announced USD 1 trillion investment in infrastructure modernization which benefited steel manufacturers. In Asia Pacific region dominated by China and India, economic activities rebounded quickly due to efficient handling of the pandemic. This boosted demand for steel and thus acid pickling rolls from late 2021.

Going forward, the market is expected to grow at a steady pace till 2030. However, future waves of COVID-19 or emergence of new virus variants remain a challenge. Manufacturers will need to focus on resilient supply networks, digital innovations and prioritize employee safety to deal with any potential disruption. Governments should continue supporting local industries to enhance manufacturing capabilities.

In terms of geographical concentration, Europe holds the largest share of the global acid pickling roll market in terms of value currently. Countries like Germany, Italy, UK have strong presence of steel mills which are major consumers of acid pickling rolls. The Asia Pacific region is the fastest growing market for acid pickling rolls owing to rapidly expanding steel sector especially in China and India. China accounts for over half of the world's steel production and hence dominates the APAC acid pickling roll market.

The recovery has been faster in developing nations of Asia Pacific compared to developed markets of North America and Europe due to the Chinese government's effective steps to control the virus spread and restart economic activities. This has led Asia Pacific, led by China, to emerge as the fastest growing regional market for acid pickling rolls during the forecast period of 2023-2030. Countries like India are also contributing to the growth through heavy investments in infrastructure and manufacturing sectors.