Acid Pickling Roll Market is Estimated to Witness High Growth owing to Advancements in Corrosion-resistant Materials
The acid pickling roll market has been witnessing strong growth owing to increasing demand from steel manufacturing industries. Acid pickling rolls are used in the pickling process of hot-rolled steel strips to remove oxides and scale from steel surfaces. They help produce high-quality steel sheets with good surface finish for applications in automotive, construction, energy, and packaging sectors. Key advantages of acid pickling rolls include their higher resistance to corrosion caused by aggressive acids and ability to withstand frequent thermal cycling. This enhances their durability and reduces maintenance and replacement costs for 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 include 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, and Unison Rolling Technology.
The market offers growth opportunities through increasing acid pickling roll replacement rates at steel plants and expansion of existing steel manufacturing capacity, especially in Asia Pacific and Middle East Africa. Advancements in corrosion-resistant materials such as high-strength aluminum alloys and engineered plastics are helping manufacturers develop longer-lasting acid pickling rolls.
Market Drivers:
Growth of the global steel industry is a major market driver for acid pickling rolls. Rising steel consumption in construction and automotive industries is increasing the demand for high-quality steel sheets. This is driving the need for regular acid pickling of hot-rolled steel strips to remove scale and ensure superior surface finish. Stringent quality standards imposed by end-use industries are also propelling the acid pickling roll market. Investments in capacity expansion by major steel producers worldwide are expected to boost replacement rates of acid pickling rolls over the forecast period.
Current challenges in Acid Pickling Roll Market
The acid pickling roll market is facing challenges due to rising prices of raw materials such as steel and chromium carbide. Supply chain disruptions and disruptions in transport infrastructure during the Covid pandemic have negatively impacted the production and delivery of acid pickling rolls. Stringent government regulations regarding workers' safety and use of chemicals is increasing operational costs for market players. Higher maintenance costs and shorter lifespan of acid pickling rolls adds to the maintenance expenditure. Achieving quality standards as per customer requirements is challenging due to variability in steel composition and irregularities during rolling processes.
SWOT Analysis
Strength: Long operational life and heavy duty capability to handle high temperatures and corrosive acid environment. Ability to provide uniform rolling and achieve desired surface finish.
Weakness: High initial investment and frequent replacement costs. Processing inefficiencies occur due to irregularities in steel quality.
Opportunity: Growth in steel production to cater to increasing demand from construction and automotive industries. Adoption of premium steel grades will drive demand for high quality acid pickling rolls.
Threats: Fluctuations in raw material prices can squeeze profit margins. Stringent environmental regulations on use of hazardous chemicals pose compliance challenges.
In terms of value, Europe holds the largest share in the acid pickling roll market owing to presence of major steel producers in countries like Germany, Italy, UK and Russia. Asia Pacific is the fastest growing region supported by rising steel consumption in China, India, Japan and South Korea. Government investments in infrastructure is boosting steel demand in developing nations.
North America accounts for a notable share in the acid pickling roll market led by United States being one of the largest steel producers globally. Rising expenditure on transportation, construction, oil and gas sectors is positively impacting the regional market. Countries like Brazil and Argentina are driving Latin America’s contribution to the overall acid pickling roll market.
