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The global nitric acid market size was valued at USD 18,956.4 million in 2018. The global nitric acid market is growing, due to increase in consumption of fertilizers in agricultural sector. In addition, nitric acid are used in chemicals and explosives that can push the market over the next few years.
Nitric acid is a strong oxidizing agent and is toxic liquid that shows off choking red or yellow fumes in moist air. It ionizes promptly in solution, forming a good conductor of electricity. The nitric acid has extensive uses in various end-user industries such as metal processing industries, metallurgical industries, chemical and others which are anticipated to flourish the global nitric acid market. Growing demand of food consumption and emerging textiles industries become the key drivers of nitric acid products.
Furthermore, the explosives industry shares significant demand of the product in the mining of coal and metals. Manufacturing of explosives utilizes ammonium nitrate which requires significant amount of the nitric acid as a precursor which directly impacts the demand for nitric acid. However, various governments have some rules and regulations on the use of ammonium nitrate fertilizers due its hazardous effect on the environment that is expected to act as a restrain for the growth of nitric acid. The rising chemical and fertilizer industries could create huge demand of nitric acid market which in turn could create several opportunities for the nitric acid market in upcoming years.
Nitric acid is widely adopted and captures most of the demand due to consumption in the manufacturing of ammonium nitrate, adipic acid and toluene di-isocynate. Division of the global market into five major continents shows that Europe is at the leading position with the highest CAGR in 2018 making up more than 50% of the total market share. The penetration of nitric acid in the region is moving towards its peak, thereby, implying maturity with more scope for growth.
Key segments of the global Nitric acid market
By Type, 2015 – 2025 (Kilotons, USD Million)
By Application, 2015 – 2025 (Million tons, USD Million)
By End-Users, 2015 – 2025 (Million tons, USD Million)
By Regional, 2015 – 2025 (Kilotons, USD Million)
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the Nitric acid industry, who want an in-depth insight into the movement of the Nitric acid market. The report will benefit:
The global Nitric acid market has shown a remarkable growth in the recent times. Nitric acid is a strong oxidizing agent and is highly corrosive mineral acid. The global nitric acid market is growing due to its vast usage in end-user industries such as explosives, textiles, fertilizers, chemical intermediates and so on. The use of Nitric acid as a precursor for various organic nitrogen compounds and is also commonly used as rocket propellants in the aerospace industry which has substantial growth.
An increase in consumption of nitric acid in fertilizer production and the growing demand of food consumption drives the global nitric acid market. The market is estimated to raise its position due to the significant utilization of ammonium nitrate in manufacturing explosives. Affordable cost of ammonia as a precursor push the market in the future. The industries such as fertilizers, chemical intermediates, textiles, and explosives keep on developing and anticipates the demand for Nitric acid in future.
The Nitric acid market is hampered due to various government regulations on nitric acid product applications and also due to emission of greenhouse gas during the production process of nitric acid. New developments and advanced technology adaption for nitrogen oxide reduction are the drivers anticipated to offer growth opportunities to the global Nitric acid market.
The Nitric acid market has been segmented based on type, application, end-user, and regional. Based on type, the market has been classified into weak and concentrated nitric acid. Weak nitric acid is leading the nitric acid market on the basis of type and is expected to remain largest segment over the forecast period because, it is used in chemical manufacturing such as ammonium nitrate and the adipic acid which supplements the overall consumption of the product.
The Nitric acid market has been segmented on the basis of application, the market is classified into Ammonium Nitrate, Adipic Acid, Toluene di-isocyanate (TDI), and Nitrobenzene. Ammonium Nitrate is one of the most demanding and the largest application of Nitric acid which account for around three-fourth of total global consumption of the nitric acid.
The fastest growing application of nitric acid is of nitrobenzene because it is consumed in the manufacturing of lubricating oils, synthetic rubber, dye and drugs, etc.
The Nitric acid market has been segmented on the basis of end-users, the market is classified into fertilizers, explosives, chemical intermediates and others. Fertilizer is having the largest share on the basis of end-users due to the growing population, contributing in the growth of agricultural sector which eventually increases the demand for fertilizer segment worldwide.
Based on regional segmentation, the market for Nitric acid are in North America, Central & South America, Asia Pacific, Middle East and Africa, and Europe. Europe region is having the largest market share in global Nitric acid market due to mature textile industries which consumes the nitric acid for manufacturing of adipic acid and caprolactam. The affecting factors such as population, climate, end- users industries and currency inflation rate are there in this region which drives the nitric acid market.
Major companies profiled in the global Nitric acid market report are Yara International ASA, CF Industries Holdings, Inc., BASF SE, Orica Limited, LSB Industries, Agrium Inc., Potash Corporation of Saskatchewan Inc., Omnia Holdings Limited, Sinopec Corporation, OCI Nitrogen, Nitrogénmüvek Zrt, Dyno Nobel, Deepak Fertilizer and Petrochemicals Corporation Limited, Pakarab Fertilizers Limited, and Sasol Limited, among others.
The global nitric acid market size was valued at USD 18,956.4 million in 2018. The global nitric acid market is growing, due to increase in consumption of fertilizers in agricultural sector. In addition, nitric acid are used in chemicals and explosives that can push the market over the next few years.
Nitric acid is a strong oxidizing agent and is toxic liquid that shows off choking red or yellow fumes in moist air. It ionizes promptly in solution, forming a good conductor of electricity. The nitric acid has extensive uses in various end-user industries such as metal processing industries, metallurgical industries, chemical and others which are anticipated to flourish the global nitric acid market. Growing demand of food consumption and emerging textiles industries become the key drivers of nitric acid products.
Furthermore, the explosives industry shares significant demand of the product in the mining of coal and metals. Manufacturing of explosives utilizes ammonium nitrate which requires significant amount of the nitric acid as a precursor which directly impacts the demand for nitric acid. However, various governments have some rules and regulations on the use of ammonium nitrate fertilizers due its hazardous effect on the environment that is expected to act as a restrain for the growth of nitric acid. The rising chemical and fertilizer industries could create huge demand of nitric acid market which in turn could create several opportunities for the nitric acid market in upcoming years.
Nitric acid is widely adopted and captures most of the demand due to consumption in the manufacturing of ammonium nitrate, adipic acid and toluene di-isocynate. Division of the global market into five major continents shows that Europe is at the leading position with the highest CAGR in 2018 making up more than 50% of the total market share. The penetration of nitric acid in the region is moving towards its peak, thereby, implying maturity with more scope for growth.
Key segments of the global Nitric acid market
By Type, 2015 – 2025 (Kilotons, USD Million)
By Application, 2015 – 2025 (Million tons, USD Million)
By End-Users, 2015 – 2025 (Million tons, USD Million)
By Regional, 2015 – 2025 (Kilotons, USD Million)
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the Nitric acid industry, who want an in-depth insight into the movement of the Nitric acid market. The report will benefit:
Chapter 1 Executive summary
Chapter 2 Research methodology
2.1 Research approach
2.2 Scope, definition, and assumptions
2.3 Data sources
Chapter 3 Market outlook
3.1 Introduction
3.2 Key trends
3.2.1 Market drivers
3.2.1.1 Increasing demand from end-user industries
3.2.1.1.1 Fertilizer industry
3.2.1.1.2 Adipic acid manufacturing
3.2.1.1.3 Mining Industry
3.2.1.1.4 Others
3.2.2 Market restraints
3.2.2.1 Emissions of greenhouse gases during the production process
3.2.2.2 Strict regulations on product application
3.2.3 Market opportunities
3.2.3.1 Affordable cost of ammonia as precursor
3.2.3.2 Advanced technology adaptation for NO2 reduction
3.2.3.3 Emerging market for product consumption
3.2.3.3.1 China
3.2.3.3.2 India
3.2.3.3.3 South Africa
3.2.3.3.4 Brazil
3.3 PESTEL analysis
3.4 Porter’s five force analysis
3.5 Value chain analysis
3.6 Raw material outlook
3.7 Manufacturing process outlook
3.8 Global production outlook
Chapter 4 Project investment feasibility
Chapter 5 Market overview, by concentration
5.1 Global market share, by concentration, 2018 & 2025
5.2 Weak nitric acid
5.3 Concentrated nitric acid
Chapter 6 Nitric acid market overview, by application
6.1 Global nitric acid market share, by application, 2018 & 2025
6.2 Ammonium nitrate
6.3 Adipic acid
6.4 Toluene di-Isocynate (TDI)
6.5 Nitrobenzene
6.6 Others
Chapter 7 Nitric acid market overview, by end-user
7.1 Global nitric acid market share, by end-user, 2018 & 2025
7.2 Fertilizers
7.3 Explosives
7.4 Chemical Intermediates
7.5 Others
Chapter 8 Nitric acids market overview, by region
8.1 North America
8.1.1 Market size & projections, by concentration, 2015 – 2025
8.1.2 Market size & projections, by end-user, 2015 – 2025
8.1.3 Market size & projections, by application, 2015 – 2025
8.1.4 U.S.
8.1.4.1 Market size & projections, by concentration, 2015 – 2025
8.1.4.2 Market size & projections, by end-user, 2015 – 2025
8.1.4.3 Market size & projections, by application, 2015 – 2025
8.2 Europe
8.2.1 Market size & projections, by concentration, 2015 – 2025
8.2.2 Market size & projections, by end-user, 2015 – 2025
8.2.3 Market size & projections, by application, 2015 – 2025
8.2.4 Germany
8.2.4.1 Market size & projections, by concentration, 2015 – 2025
8.2.4.2 Market size & projections, by end-user, 2015 – 2025
8.2.4.3 Market size & projections, by application, 2015 – 2025
8.2.5 France
8.2.5.1 Market size & projections, by concentration, 2015 – 2025
8.2.5.2 Market size & projections, by end-user, 2015 – 2025
8.2.5.3 Market size & projections, by application, 2015 – 2025
8.2.6 Russia
8.2.6.1 Market size & projections, by concentration, 2015 – 2025
8.2.6.2 Market size & projections, by end-user, 2015 – 2025
8.2.6.3 Market size & projections, by application, 2015 – 2025
8.2.7 Rest of Europe
8.2.7.1 Market size & projections, by concentration, 2015 – 2025
8.2.7.2 Market size & projections, by end-user, 2015 – 2025
8.2.7.3 Market size & projections, by application, 2015 – 2025
8.3 Asia Pacific
8.3.1 Market size & projections, by concentration, 2015 – 2025
8.3.2 Market size & projections, by end-user, 2015 – 2025
8.3.3 Market size & projections, by application, 2015 – 2025
8.3.4 China
8.3.4.1 Market size & projections, by concentration, 2015 – 2025
8.3.4.2 Market size & projections, by end-user, 2015 – 2025
8.3.4.3 Market size & projections, by application, 2015 – 2025
8.3.5 India
8.3.5.1 Market size & projections, by concentration, 2015 – 2025
8.3.5.2 Market size & projections, by end-user, 2015 – 2025
8.3.5.3 Market size & projections, by application, 2015 – 2025
8.3.6 Rest of APAC
8.3.6.1 Market size & projections, by concentration, 2015 – 2025
8.3.6.2 Market size & projections, by end-user, 2015 – 2025
8.3.6.3 Market size & projections, by application, 2015 – 2025
8.4 Middle East & Africa
8.4.1 Market size & projections, by concentration, 2015 – 2025
8.4.2 Market size & projections, by end-user, 2014 – 2025
8.4.3 Market size & projections, by application, 2014 – 2025
8.4.4 South Africa
8.4.4.1 Market size & projections, by concentration, 2015 – 2025
8.4.4.2 Market size & projections, by end-user, 2015 – 2025
8.4.4.3 Market size & projections, by application, 2015 – 2025
8.4.5 Rest of MEA
8.4.5.1 Market size & projections, by concentration, 2015 – 2025
8.4.5.2 Market size & projections, by end-user, 2015 – 2025
8.4.5.3 Market size & projections, by application, 2015 – 2025
8.5 Central & South America
8.5.1 Market size & projections, by concentration, 2015 – 2025
8.5.2 Market size & projections, by end-user, 2015 – 2025
8.5.3 Market size & projections, by application, 2015 – 2025
8.5.4 Brazil
8.5.4.1 Market size & projections, by concentration, 2015 – 2025
8.5.4.2 Market size & projections, by end-user, 2015 – 2025
8.5.4.3 Market size & projections, by application, 2015 – 2025
8.5.5 Rest of Central & South America
8.5.5.1 Market size & projections, by concentration, 2015 – 2025
8.5.5.2 Market size & projections, by end-user, 2015 – 2025
8.5.5.3 Market size & projections, by application, 2015 – 2025
Chapter 9 Company profiles
9.1 Yara International ASA
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product offering
9.1.4 Production capabilities
9.1.5 Recent developments
9.2 CF Industries Holdings, Inc.
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product offering
9.2.4 Production capabilities
9.2.5 Recent developments
9.3 BASF SE
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product offering
9.3.4 Production capabilities
9.4 Orica Limited
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product offering
9.4.4 Production capabilities
9.5 LSB Industries
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product offering
9.5.4 Production capabilities
9.5.5 Recent developments
9.6 Agrium Inc.
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product offering
9.6.4 Production capabilities
9.6.5 Recent developments
9.7 Potash Corporation of Saskatchewan, Inc.
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product offering
9.7.4 Production capabilities
9.8 Omnia Holdings Limited
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product offering
9.8.4 Production capabilities
9.9 Sinopec Corporation
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product offering
9.9.4 Production capabilities
9.10 OCI Nitrogen
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product offering
9.10.4 Production capabilities
9.11 Nitrogénmüvek Zrt
9.11.1 Company overview
9.11.2 Financial performance
9.11.3 Product offering
9.11.4 Production capabilities
9.12 Dyno Nobel
9.12.1 Company overview
9.12.2 Financial performance
9.12.3 Product offering
9.12.4 Production capabilities
9.13 Deepak Fertilizer and Petrochemicals Corporation Limited
9.13.1 Company overview
9.13.2 Financial performance
9.13.3 Product offering
9.13.4 Production capabilities
9.13.5 Recent developments
9.14 Pakarab Fertilizers Limited
9.14.1 Company overview
9.14.2 Financial performance
9.14.3 Product offering
9.14.4 Production capabilities
9.15 Sasol Limited
9.15.1 Company overview
9.15.2 Financial performance
9.15.3 Product offering
Chapter 10 Competitive Environment
10.1 Company market share, 2018
10.2 Supplier landscape