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Nitric Acid Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.
Published Apr 01, 2024
Length 250 Pages
SKU # FOB18798797

Description

Nitric Acid Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Nitric Acid Market

The nitric acid market size was valued at USD 23.73 billion in 2023, and the market is now projected to grow from USD 24.56 billion in 2024 to USD 32.64 billion by 2032, exhibiting a CAGR of 3.6% during the forecast period of 2024-2032.

COVID- 19 pandemic has tremendously affected the complete world. It affected many unpredicted disturbance and affected the industry. The coronavirus pandemic considerably affected many end-use industries, affecting a short-term pause in manufacturing and trade activities. The pandemic also led to a drop in the budget due to the declining demand and dropped manufacturing, which directed to disturbances in the supply chain.

Nitric acid has considerable uses in the farming industry where it is used for the manufacturing of fertilizers such as ammonium nitrate, potassium nitrate, calcium ammonium nitrate, and nitro phosphate. Fertilizers are used to upsurge crop yield to achieve the rising food demand from the increasing inhabitants.

The growing demand from customers for lightweight vehicles has led producers turning toward invention and development in the automotive industry making high consumption chances for HNO3 that certainly affect the market. The product manufacturers are fluctuating to polymer composites such as nylon, for vehicle weight reduction and improving fuel capacity. Furthermore, high consumer demand for individual vehicles and an ever-increasing public have contributed expressively to the production of lightweight vehicle. Technological improvements and innovation motivate unique proceeds augmenting opportunity which will upsurge the nitric acid market growth.

Comprehensive Analysis of Nitric Acid Market

The market can be segmented in various ways depending on the focus of study such as by end users and by distribution. Nitric acid is used to produce fertilizers such as ammonium nitrate and calcium ammonium nitrate, which deliver wide-ranging and superior crop yields. Based on the application, the market is segmented into fertilizers, nitrobenzene, adipic acid, toluene di-isocyanate, and others.

Asia Pacific region is dominating the nitric acid market share due to prompt inhabitants growth, increasing infrastructure ventures, and upsurge in middle-class income causing high nitric acid consumption. The growth is attributed to growing product demand from several end-use industries, comprising automobile, agriculture, and production.

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and growing market share by merger, partnerships and others. These players include BASF SE (Germany), Nutrien (Canada), EuroChem (Switzerland), CF Industries Holdings, Inc. (U.S.), Omnia Holdings Limited (South Africa), Dyno Nobel (Australia), Enaex S.A. (Chile), Sasol (South Africa), LSB Industries (U.S.), IXOM (Australia) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In January 2023, Grupa Azoty doubled up its nitric acid making size with the introduction of a novel facility in Tarnów. This novel making facility will upsurge the company’s volume yearly and will increase the business line for above 98% concentrated nitric acid.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 3.6% from 2024 to 2032

Unit Value (USD Billion) and Volume (Million Ton)

Segmentation By Application

Fertilizers

Nitrobenzene

Adipic Acid

Toluene Di-isocyanate

Others

By Geography

North America (By Application, By Country)

U.S. (By Application)

Canada (By Application)

Europe (By Application, By Country)

France (By Application)

Germany (By Application)

U.K. (By Application)

Italy (By Application)

Spain (By Application)

Poland (By Application)

Rest of Europe (By Application)

Asia Pacific (By Application, By Country)

China (By Application)

India (By Application)

Japan (By Application)

South Korea (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Application, By Country)

Brazil (By Application)

Rest of Latin America (By Application)

Middle East & Africa (By Application, By Country)

South Africa (By Application)

Rest of Middle East & Africa (By Application)


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Table of Contents

250 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends in the Global Market
4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
4.3. Latest Technological Advancement
4.4. Insights on Regulatory Scenario
4.5. Porters Five Forces Analysis
4.6. Impact of COVID-19 on Global Nitric Acid Market
5. Global Nitric Acid Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. By Application (Volume/Revenue)
5.2.1. Fertilizers
5.2.2. Nitrobenzene
5.2.3. Adipic Acid
5.2.4. Toluene Di-isocyanate
5.2.5. Others
5.3. By Region (Volume/Revenue)
5.3.1. North America
5.3.2. Europe
5.3.3. Asia Pacific
5.3.4. Latin America
5.3.5. Middle East & Africa
6. North America Nitric Acid Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. By Application (Volume/Revenue)
6.2.1. Fertilizers
6.2.2. Nitrobenzene
6.2.3. Adipic Acid
6.2.4. Toluene Di-isocyanate
6.2.5. Others
6.3. By Country (Volume/Revenue)
6.3.1. U.S.
6.3.1.1. By Application (Volume/Revenue)
6.3.1.1.1. Fertilizers
6.3.1.1.2. Nitrobenzene
6.3.1.1.3. Adipic Acid
6.3.1.1.4. Toluene Di-isocyanate
6.3.1.1.5. Others
6.3.2. Canada
6.3.2.1. By Application (Volume/Revenue)
6.3.2.1.1. Fertilizers
6.3.2.1.2. Nitrobenzene
6.3.2.1.3. Adipic Acid
6.3.2.1.4. Toluene Di-isocyanate
6.3.2.1.5. Others
7. Europe Nitric Acid Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. By Application (Volume/Revenue)
7.2.1. Fertilizers
7.2.2. Nitrobenzene
7.2.3. Adipic Acid
7.2.4. Toluene Di-isocyanate
7.2.5. Others
7.3. By Country (Volume/Revenue)
7.3.1. France
7.3.1.1. By Application (Volume/Revenue)
7.3.1.1.1. Fertilizers
7.3.1.1.2. Nitrobenzene
7.3.1.1.3. Adipic Acid
7.3.1.1.4. Toluene Di-isocyanate
7.3.1.1.5. Others
7.3.2. Germany
7.3.2.1. By Application (Volume/Revenue)
7.3.2.1.1. Fertilizers
7.3.2.1.2. Nitrobenzene
7.3.2.1.3. Adipic Acid
7.3.2.1.4. Toluene Di-isocyanate
7.3.2.1.5. Others
7.3.3. U.K.
7.3.3.1. By Application (Volume/Revenue)
7.3.3.1.1. Fertilizers
7.3.3.1.2. Nitrobenzene
7.3.3.1.3. Adipic Acid
7.3.3.1.4. Toluene Di-isocyanate
7.3.3.1.5. Others
7.3.4. Italy
7.3.4.1. By Application (Volume/Revenue)
7.3.4.1.1. Fertilizers
7.3.4.1.2. Nitrobenzene
7.3.4.1.3. Adipic Acid
7.3.4.1.4. Toluene Di-isocyanate
7.3.4.1.5. Others
7.3.5. Spain
7.3.5.1. By Application (Volume/Revenue)
7.3.5.1.1. Fertilizers
7.3.5.1.2. Nitrobenzene
7.3.5.1.3. Adipic Acid
7.3.5.1.4. Toluene Di-isocyanate
7.3.5.1.5. Others
7.3.6. Poland
7.3.6.1. By Application (Volume/Revenue)
7.3.6.1.1. Fertilizers
7.3.6.1.2. Nitrobenzene
7.3.6.1.3. Adipic Acid
7.3.6.1.4. Toluene Di-isocyanate
7.3.6.1.5. Others
7.3.7. Rest of Europe
7.3.7.1. By Application (Volume/Revenue)
7.3.7.1.1. Fertilizers
7.3.7.1.2. Nitrobenzene
7.3.7.1.3. Adipic Acid
7.3.7.1.4. Toluene Di-isocyanate
7.3.7.1.5. Others
8. Asia-Pacific Nitric Acid Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. By Application (Volume/Revenue)
8.2.1. Fertilizers
8.2.2. Nitrobenzene
8.2.3. Adipic Acid
8.2.4. Toluene Di-isocyanate
8.2.5. Others
8.3. By Country (Volume/Revenue)
8.3.1. China
8.3.1.1. By Application (Volume/Revenue)
8.3.1.1.1. Fertilizers
8.3.1.1.2. Nitrobenzene
8.3.1.1.3. Adipic Acid
8.3.1.1.4. Toluene Di-isocyanate
8.3.1.1.5. Others
8.3.2. India
8.3.2.1. By Application (Volume/Revenue)
8.3.2.1.1. Fertilizers
8.3.2.1.2. Nitrobenzene
8.3.2.1.3. Adipic Acid
8.3.2.1.4. Toluene Di-isocyanate
8.3.2.1.5. Others
8.3.3. Japan
8.3.3.1. By Application (Volume/Revenue)
8.3.3.1.1. Fertilizers
8.3.3.1.2. Nitrobenzene
8.3.3.1.3. Adipic Acid
8.3.3.1.4. Toluene Di-isocyanate
8.3.3.1.5. Others
8.3.4. South Korea
8.3.4.1. By Application (Volume/Revenue)
8.3.4.1.1. Fertilizers
8.3.4.1.2. Nitrobenzene
8.3.4.1.3. Adipic Acid
8.3.4.1.4. Toluene Di-isocyanate
8.3.4.1.5. Others
8.3.5. Rest of Asia Pacific
8.3.5.1. By Application (Volume/Revenue)
8.3.5.1.1. Fertilizers
8.3.5.1.2. Nitrobenzene
8.3.5.1.3. Adipic Acid
8.3.5.1.4. Toluene Di-isocyanate
8.3.5.1.5. Others
9. Latin America Nitric Acid Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. By Application (Volume/Revenue)
9.2.1. Fertilizers
9.2.2. Nitrobenzene
9.2.3. Adipic Acid
9.2.4. Toluene Di-isocyanate
9.2.5. Others
9.3. By Country (Volume/Revenue)
9.3.1. Brazil
9.3.1.1. By Application (Volume/Revenue)
9.3.1.1.1. Fertilizers
9.3.1.1.2. Nitrobenzene
9.3.1.1.3. Adipic Acid
9.3.1.1.4. Toluene Di-isocyanate
9.3.1.1.5. Others
9.3.2. Rest of Latin America
9.3.2.1. By Application (Volume/Revenue)
9.3.2.1.1. Fertilizers
9.3.2.1.2. Nitrobenzene
9.3.2.1.3. Adipic Acid
9.3.2.1.4. Toluene Di-isocyanate
9.3.2.1.5. Others
10. Middle East & Africa Nitric Acid Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. By Application (Volume/Revenue)
10.2.1. Fertilizers
10.2.2. Nitrobenzene
10.2.3. Adipic Acid
10.2.4. Toluene Di-isocyanate
10.2.5. Others
10.3. By Country (Volume/Revenue)
10.3.1. South Africa
10.3.1.1. By Application (Volume/Revenue)
10.3.1.1.1. Fertilizers
10.3.1.1.2. Nitrobenzene
10.3.1.1.3. Adipic Acid
10.3.1.1.4. Toluene Di-isocyanate
10.3.1.1.5. Others
10.3.2. Rest of Middle East & Africa
10.3.2.1. By Application (Volume/Revenue)
10.3.2.1.1. Fertilizers
10.3.2.1.2. Nitrobenzene
10.3.2.1.3. Adipic Acid
10.3.2.1.4. Toluene Di-isocyanate
10.3.2.1.5. Others
11. Company Profiles
11.1. BASF SE
11.1.1. Overview
11.1.2. Description
11.1.3. Product Portfolio
11.1.4. Financials (Data as available in public domain and/or on paid databases)
11.1.5. Recent Developments
11.2. Nutrien
11.2.1. Overview
11.2.2. Description
11.2.3. Product Portfolio
11.2.4. Financials (Data as available in public domain and/or on paid databases)
11.2.5. Recent Developments
11.3. EuroChem
11.3.1. Overview
11.3.2. Description
11.3.3. Product Portfolio
11.3.4. Financials (Data as available in public domain and/or on paid databases)
11.3.5. Recent Developments
11.4. CF Industries Holdings, Inc.
11.4.1. Overview
11.4.2. Description
11.4.3. Product Portfolio
11.4.4. Financials (Data as available in public domain and/or on paid databases)
11.4.5. Recent Developments
11.5. Omnia Holdings Limited
11.5.1. Overview
11.5.2. Description
11.5.3. Product Portfolio
11.5.4. Financials (Data as available in public domain and/or on paid databases)
11.5.5. Recent Developments
11.6. Dyno Nobel
11.6.1. Overview
11.6.2. Description
11.6.3. Product Portfolio
11.6.4. Financials (Data as available in public domain and/or on paid databases)
11.6.5. Recent Developments
11.7. Enaex S.A.
11.7.1. Overview
11.7.2. Description
11.7.3. Product Portfolio
11.7.4. Financials (Data as available in public domain and/or on paid databases)
11.7.5. Recent Developments
11.8. Sasol
11.8.1. Overview
11.8.2. Description
11.8.3. Product Portfolio
11.8.4. Financials (Data as available in public domain and/or on paid databases)
11.8.5. Recent Developments
11.9. LSB Industries
11.9.1. Overview
11.9.2. Description
11.9.3. Product Portfolio
11.9.4. Financials (Data as available in public domain and/or on paid databases)
11.9.5. Recent Developments
11.10. IXOM
11.10.1. Overview
11.10.2. Description
11.10.3. Product Portfolio
11.10.4. Financials (Data as available in public domain and/or on paid databases)
11.10.5. Recent Developments
12. Strategic Recommendations

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