In a medium, heavy-bottomed saucepan, whisk together the ketchup, dark brown sugar, apple cider vinegar, molasses, and Worcestershire sauce until the thick sugar dissolves entirely.
Stir in the smoked paprika, garlic powder, onion powder, black pepper, and salt.
Place the pot over medium-high heat. Bring the sweet mixture to a gentle boil, making sure to whisk constantly so the dense sugar does not scorch the bottom of the pan.
Immediately drop the heat to the lowest possible setting. Let the sauce simmer gently and uncovered for about 15 minutes. As the water evaporates, the sauce will reduce into a wonderfully thick, glossy glaze.
Remove from the heat. The sauce will thicken even more as it cools. Store it in an airtight glass jar in the refrigerator for up to 2 weeks.