The Nitric acid market is expected to grow from USD 24 billion in 2020 to USD 31.6 billion by 2028, at a CAGR of 3.4% during the forecast period 2021-2028.
The colorless compound nitric acid (HNO3), also known as aqua fortis, turns yellow over time as nitrogen and water decompose into oxides. The compound is very corrosive, and it's used to manufacture ammonium nitrate and other fertilizer chemicals. The compound is also used in the production of chemicals like nitrobenzene, adipic acid, and chloronitrobenzene. Plastics, aerospace, and construction are only a few of the industries that use these chemicals.
The factors driving the market are the need for adhering with Corporate Average Fuel Economy (CAFE) regulations, growing demand from various end-use industries such as agriculture for fertilisers and textile to make dye, automotive manufacturers increasingly adopt lightweight materials, growing applications of polyurethane foams, increasing demand for adipic acid to formulate nylon resins and rising demand from consumers for lightweight automobiles. The market's growth is being stifled by government regulations regulating environmental protection and the elimination of industrial waste. Furthermore, growing concerns over CO2 emissions from vehicles is putting a damper on the industry. HNO3 is generated by chemical processing plants, automobile exhaust gases, and untreated wastewater from agricultural areas. This waste triggers respiratory problems when inhaled.
This study delivers a comprehensive analysis of type, product, and region. The type segment includes strong and fuming. Strong nitric acid is predicted to be the fastest-growing source of concentrated nitric acid over the projected period. Ammonium nitrate, adipic acid, nitrobenzene, nitro chlorobenzene, toluene diisocyanate (TDI), and trinitrotoluene are only a few of the products made from it (TNT). The application segment includes ammonium nitrate, adipic acid, nitrobenzene, and toluene diisocyanate. The ammonium nitrate segment holds the largest market share. Ammonium nitrate is a nitrogen fertilizer that can be used directly or as a precursor to calcium ammonium nitrate and urea ammonium nitrate, among other nitrogen fertilizers. The end-user segment includes agrochemicals, explosives, automotive, electronics and others.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to have a significant nitric acid market share in the global market, which can be attributed to the region's rapid development and high disposable income. Increasing demand for smaller, more fuel-efficient cars, as well as increased new construction and renovation activities, are driving industry development. During the forecast period, the European region is expected to expand significantly. This trend can be attributed to shoppers' increasing preference for fuel-efficient and environmentally sustainable vehicles. The growing understanding of environmental safety serves as a driving force for fuel-efficient features and lightweight materials like polymer composites in cars.
Some of the notable players in the market are BASF SE (Ludwigshafen, Germany), Nutrien (Saskatoon, Canada), Yara International, DuPont (Delaware, U.S.), CF Industries Holdings, Inc., Omnia Holdings Limited (Gauteng, South Africa), LSB Industries (Oklahoma, U.S.), Dyno Nobel (Brisbane, Australia), J R Simplot, Enaex S.A. (Santiago, Chile), Sasol (Johannesburg, South Africa) and Ixom (Victoria Australia). Key players are now focused on tactics such as product launches, mergers and acquisitions, recent investments, joint ventures, alliances, and partnerships to achieve a substantial market share in the global nitric acid market.
Nitric acid Market Analysis and Forecast, Type
Nitric acid Market Analysis and Forecast, Application
Nitric acid Market Analysis and Forecast, End-user
Nitric acid Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Type
4.3.2. Market Attractiveness Analysis By Application
4.3.3. Market Attractiveness Analysis By End-User
4.3.4. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increased applications of polyurethane foams
5.2.2. Growing demand from various end-use industries
5.2.3. Increased rising demand from consumers for lightweight automobiles
5.3. Restraints
5.3.1. Government regulations regulating environmental protection
5.3.2. Environmental concerns regarding CO2 emissions
6. Global Nitric acid Market Analysis and Forecast, By Type
6.1. Segment Overview
6.2. Strong
6.3. Fuming
7. Global Nitric acid Market Analysis and Forecast, By Application
7.1. Segment Overview
7.2. Ammonium Nitrate
7.3. Adipic Acid
7.4. Nitrobenzene
7.5. Toluene Diisocyanate
8. Global Nitric acid Market Analysis and Forecast, By End-User
8.1. Segment Overview
8.2. Agrochemicals
8.3. Explosives
8.4. Automotive
8.5. Electronics
8.6. Others
9. Global Nitric acid Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Nitric acid Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in Global Nitric acid Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Operations Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers &Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Enaex S.A.
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Operations Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. CF Industries Holdings, Inc.,
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Operations Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Sasol
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Operations Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Omnia Holdings Limited
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Operations Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Dyno Nobel
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Operations Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. DuPont
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Operations Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. BASF SE
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Operations Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Nutrien
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Operations Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. J R Simplot
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Operations Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Ixom
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Operations Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
List of Table
1. Global Nitric acid Market, By Type, 2018-2028 (USD Billion)
2. Global Stong, Nitric acid Market, By Region, 2018-2028 (USD Billion)
3. Global Fuming, Nitric acid Market, By Region, 2018-2028 (USD Billion)
4. Global Nitric acid Market, By Application, 2018-2028 (USD Billion)
5. Global Ammonium Nitrate, Nitric acid Market, By Region, 2018-2028 (USD Billion)
6. Global Adipic Acid, Nitric acid Market, By Region, 2018-2028 (USD Billion)
7. Global Nitrobenzene, Nitric acid Market, By Region, 2018-2028 (USD Billion)
8. Global Toluene Diisocyanate, Nitric acid Market, By Region, 2018-2028 (USD Billion)
9. Global Nitric acid Market, By End-User, 2018-2028 (USD Billion)
10. Global Agrochemicals, Nitric acid Market, By Region, 2018-2028 (USD Billion)
11. Global Explosives, Nitric acid Market, By Region, 2018-2028 (USD Billion)
12. Global Automotive, Nitric acid Market, By Region, 2018-2028 (USD Billion)
13. Global Electronics, Nitric acid Market, By Region, 2018-2028 (USD Billion)
14. Global Others, Nitric acid Market, By Region, 2018-2028 (USD Billion)
15. North America Nitric acid Market, By Type, 2018-2028 (USD Billion)
16. North America Nitric acid Market, By Application, 2018-2028 (USD Billion)
17. North America Nitric acid Market, By End-User, 2018-2028 (USD Billion)
18. U.S. Nitric acid Market, By Type, 2018-2028 (USD Billion)
19. U.S. Nitric acid Market, By Application, 2018-2028 (USD Billion)
20. U.S. Nitric acid Market, By End-User, 2018-2028 (USD Billion)
21. Canada Nitric acid Market, By Type, 2018-2028 (USD Billion)
22. Canada Nitric acid Market, By Application, 2018-2028 (USD Billion)
23. Canada Nitric acid Market, By End-User, 2018-2028 (USD Billion)
24. Mexico Nitric acid Market, By Type, 2018-2028 (USD Billion)
25. Mexico Nitric acid Market, By Application, 2018-2028 (USD Billion)
26. Mexico Nitric acid Market, By End-User, 2018-2028 (USD Billion)
27. Europe Nitric acid Market, By Type, 2018-2028 (USD Billion)
28. Europe Nitric acid Market, By Application, 2018-2028 (USD Billion)
29. Europe Nitric acid Market, By End-User, 2018-2028 (USD Billion)
30. Germany Nitric acid Market, By Type, 2018-2028 (USD Billion)
31. Germany Nitric acid Market, By Application, 2018-2028 (USD Billion)
32. Germany Nitric acid Market, By End-User, 2018-2028 (USD Billion)
33. France Nitric acid Market, By Type, 2018-2028 (USD Billion)
34. France Nitric acid Market, By Application, 2018-2028 (USD Billion)
35. France Nitric acid Market, By End-User, 2018-2028 (USD Billion)
36. U.K. Nitric acid Market, By Type, 2018-2028 (USD Billion)
37. U.K. Nitric acid Market, By Application, 2018-2028 (USD Billion)
38. U.K. Nitric acid Market, By End-User, 2018-2028 (USD Billion)
39. Italy Nitric acid Market, By Type, 2018-2028 (USD Billion)
40. Italy Nitric acid Market, By Application, 2018-2028 (USD Billion)
41. Italy Nitric acid Market, By End-User, 2018-2028 (USD Billion)
42. Spain Nitric acid Market, By Type, 2018-2028 (USD Billion)
43. Spain Nitric acid Market, By Application, 2018-2028 (USD Billion)
44. Spain Nitric acid Market, By End-User, 2018-2028 (USD Billion)
45. Asia Pacific Nitric acid Market, By Type, 2018-2028 (USD Billion)
46. Asia Pacific Nitric acid Market, By Application, 2018-2028 (USD Billion)
47. Asia Pacific Nitric acid Market, By End-User, 2018-2028 (USD Billion)
48. Japan Nitric acid Market, By Type, 2018-2028 (USD Billion)
49. Japan Nitric acid Market, By Application, 2018-2028 (USD Billion)
50. Japan Nitric acid Market, By End-User, 2018-2028 (USD Billion)
51. China Nitric acid Market, By Type, 2018-2028 (USD Billion)
52. China Nitric acid Market, By Application, 2018-2028 (USD Billion)
53. China Nitric acid Market, By End-User, 2018-2028 (USD Billion)
54. India Nitric acid Market, By Type, 2018-2028 (USD Billion)
55. India Nitric acid Market, By Application, 2018-2028 (USD Billion)
56. India Nitric acid Market, By End-User, 2018-2028 (USD Billion)
57. South America Nitric acid Market, By Type, 2018-2028 (USD Billion)
58. South America Nitric acid Market, By Application, 2018-2028 (USD Billion)
59. South America Nitric acid Market, By End-User, 2018-2028 (USD Billion)
60. Brazil Nitric acid Market, By Type, 2018-2028 (USD Billion)
61. Brazil Nitric acid Market, By Application, 2018-2028 (USD Billion)
62. Brazil Nitric acid Market, By End-User, 2018-2028 (USD Billion)
63. Middle East and Africa Nitric acid Market, By Type, 2018-2028 (USD Billion)
64. Middle East and Africa Nitric acid Market, By Application, 2018-2028 (USD Billion)
65. Middle East and Africa Nitric acid Market, By End-User, 2018-2028 (USD Billion)
66. UAE Nitric acid Market, By Type, 2018-2028 (USD Billion)
67. UAE Nitric acid Market, By Application, 2018-2028 (USD Billion)
68. UAE Nitric acid Market, By End-User, 2018-2028 (USD Billion)
69. South Africa Nitric acid Market, By Type, 2018-2028 (USD Billion)
70. South Africa Nitric acid Market, By Application, 2018-2028 (USD Billion)
71. South Africa Nitric acid Market, By End-User, 2018-2028 (USD Billion)
List of Figures
1. Global Nitric acid Market Segmentation
2. Global Nitric acid Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Nitric acid Market Attractiveness Analysis By Type
9. Global Nitric acid Market Attractiveness Analysis By Application
10. Global Nitric acid Market Attractiveness Analysis By End-User
11. Global Nitric acid Market Attractiveness Analysis By Region
12. Global Nitric acid Market: Dynamics
13. Global Nitric acid Market Share by Type (2021 & 2028)
14. Global Nitric acid Market Share by Application (2021 & 2028)
15. Global Nitric acid Market Share by End-User (2021 & 2028)
16. Global Nitric acid Market Share by Regions (2021 & 2028)
17. Global Nitric acid Market Share by Company (2020)
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