Nitric Acid Market Regional Share, Size, Segmentation and Forecast by 2031

Coverage: Nitric Acid Market covers analysis by Application (Fertilizers, Adipic Acid, Nitrobenzene, Toluene di-isocyanate, Nitrochlorobenzene, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00010218
  • Category : Chemicals and Materials
  • No. of Pages : 150
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The Nitric Acid Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The report is segmented by form (powder and liquid). The report further presents analysis based on application (fertilizers, adipic acid, nitrobenzene, toluene di-isocyanate, nitrochlorobenzene and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.

Purpose of the Report

The report Nitric Acid Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Nitric Acid Market Segmentation

Form
  • Powder and Liquid
Application
  • Fertilizers
  • Adipic Acid
  • Nitrobenzene
  • Toluene Di-Isocyanate
  • Nitrochlorobenzene and Others

Strategic Insights

Nitric Acid Market Growth Drivers
  • Nitric Acid Demand for Fertilizers: The nitric acid market is primarily driven by the demand for the compound, which acts as a precursor in producing nitrogen-based fertilizers. The quality of food production cannot be separated from the growing populations, especially in developing nations where there is almost indiscriminate use of fertilizers on crops. Such exclusion will not be possible as nitric acid is a synthesized starting compound of ammonium nitrate and other nitrogen fertilizers for agricultural uses. This in turn is enhanced by the increasing awareness of food insecurity and the need for environmentally friendly methods of agriculture.
  • Increased Use in Explosives and Mining: Explosives production fosters the demand for nitric acid, where it is together with ammonium nitrate, used to produce ammonium nitrate explosives. Such explosives are widely used in the construction industry, mining, and defense sectors for different purposes. The demand for these explosives will definitely increase as more and more infrastructure building and mining activities are taking place worldwide; therefore, the need for nitric acid will also increase. This strategy is most effective in countries under development where industrialization is taking place.
  • Rising Need in Pharmaceuticals and Healthcare: Nitric acid is also used in the pharmaceutical sector to produce a wide range of complex chemicals and drug intermediates. In addition, because of the increasing need for therapeutics, in light of the increasing demographic alongside healthcare trends raises the need for nitric acid. The requirement for injectable drugs for which the increase in the quality of the raw materials, in this case, nitric acid, is clearly apparent is on the rise as the pharmaceutical industry is focusing on drug discovery and drug development.
Nitric Acid Market Future Trends
  • Sustainable Production Practices: There is an increasing inclination towards a sustainable strategy in nitric acid production. More and more manufacturers are implementing greener production methods, using alternative energy sources and waste heat recovery systems. Such approaches not only mitigate the carbon footprint of nitric acid production but also boost operational effectiveness. Therefore, companies that incorporate sustainability into their business models will have better prospects in the competition.
  • Innovative Catalytic Designs Enhance Efficiency: The increase in the use of production technologies is also propelled by the recent designs of more cost-effective catalytic designs, improving the yield and purity of nitric acid produced. Manufacturers are also increasing the efficiency and decreasing the costs and waste ratios associated with nitric acid production through innovations in the design of rate-controlled reactors and optimization of the processes involved. Those technological improvements are very much needed for the expected increase in demand coming in an economically sustainable way.
  • Strategic Alliances Accelerate Market Competition: There has been an upsurge in strategic alliances of nitrogenous acid-producing companies, their end users, and research organizations recently. Such partnerships aim to exchange technological, research, and market resources for mutual benefit. Such alliances among the market participants enable them to shorten the time to market, foster new ideas, and increase the geographical reach of the businesses. Such a development increases competition in the nitric acid market, making it more active.
Nitric Acid Market Opportunities
  • Investments Drive Nitric Acid Growth: The investments in various sectors including information technology, retrofitting of existing facilities and construction of new factories and infrastructure - are critical to allow the development of the nitric acid industry in the developing markets. Moreover, these advances are no surprise given the assessed demand for fertilizers and explosives in these regions, which is increasing due to rapid industrialization and urbanization as well as agriculture practices intensification, filter to the economic benefits. This opportunity has existed regarding this trend as the internal launching of based manufacturing units and supply chains targeting these regions.
  • Specialty Chemicals Market Expansion: Niche on potential development of specialty grade chemicals including nitric acid as one of its raw material remains underexploited. As industries become sophisticated, there are more possibilities for manufacturers to introduce nitric acid into their products, including electronics, automobiles and renewable energy. If the firm creates specialized products in this case specialist products, the firm would be able access different markets that its product range would not normally allow.
  • Technological Advancements Improve Efficiency: Technological developments such as smart manufacturing can enhance the operational efficiencies, reduce downtimes, and improve quality of the end products. Application of software for process re-engineering and corrective maintenance works will enhance the competitiveness of an organization, coupled with low operation costs.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Nitric Acid Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Nitric Acid Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is the future trend for nitric acid market?

Sustainable production methods is expected to be the key market trends

What are the deliverable formats of the nitric acid market?

The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.

Which regions are covered in the report?

On the basis of geography, the nitric acid market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America

What are the key players operating in the nitric acid market?

DuPont; BASF SE; The Dow Chemical Company; Nutrien; Omnia Holdings are some of the key players operating in the nitric acid market

What are the driving factors impacting the nitric acid market?

Increasing demand for fertilizers is driving the market growth

What is the expected CAGR of the Nitric Acid Market?

The Nitric Acid Market is estimated to witness a CAGR of 6% from 2023 to 2031

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Nitric Acid Market - By Application
1.3.2 Nitric Acid Market - By Region
1.3.2.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. NITRIC ACID MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS

5. NITRIC ACID MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. NITRIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. NITRIC ACID - GLOBAL MARKET OVERVIEW
6.2. NITRIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. NITRIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. FERTILIZERS
7.3.1. Overview
7.3.2. Fertilizers Market Forecast and Analysis
7.4. ADIPIC ACID
7.4.1. Overview
7.4.2. Adipic Acid Market Forecast and Analysis
7.5. NITROBENZENE
7.5.1. Overview
7.5.2. Nitrobenzene Market Forecast and Analysis
7.6. TOLUENE DI-ISOCYANATE
7.6.1. Overview
7.6.2. Toluene di-isocyanate Market Forecast and Analysis
7.7. NITROCHLOROBENZENE
7.7.1. Overview
7.7.2. Nitrochlorobenzene Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis

8. NITRIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America Nitric Acid Market Overview
8.1.2 North America Nitric Acid Market Forecasts and Analysis
8.1.3 North America Nitric Acid Market Forecasts and Analysis - By Application
8.1.4 North America Nitric Acid Market Forecasts and Analysis - By Countries
8.1.4.1 United States Nitric Acid Market
8.1.4.1.1 United States Nitric Acid Market by Application
8.1.4.2 Canada Nitric Acid Market
8.1.4.2.1 Canada Nitric Acid Market by Application
8.1.4.3 Mexico Nitric Acid Market
8.1.4.3.1 Mexico Nitric Acid Market by Application
8.2. EUROPE
8.2.1 Europe Nitric Acid Market Overview
8.2.2 Europe Nitric Acid Market Forecasts and Analysis
8.2.3 Europe Nitric Acid Market Forecasts and Analysis - By Application
8.2.4 Europe Nitric Acid Market Forecasts and Analysis - By Countries
8.2.4.1 Germany Nitric Acid Market
8.2.4.1.1 Germany Nitric Acid Market by Application
8.2.4.2 France Nitric Acid Market
8.2.4.2.1 France Nitric Acid Market by Application
8.2.4.3 Italy Nitric Acid Market
8.2.4.3.1 Italy Nitric Acid Market by Application
8.2.4.4 United Kingdom Nitric Acid Market
8.2.4.4.1 United Kingdom Nitric Acid Market by Application
8.2.4.5 Russia Nitric Acid Market
8.2.4.5.1 Russia Nitric Acid Market by Application
8.2.4.6 Rest of Europe Nitric Acid Market
8.2.4.6.1 Rest of Europe Nitric Acid Market by Application
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific Nitric Acid Market Overview
8.3.2 Asia-Pacific Nitric Acid Market Forecasts and Analysis
8.3.3 Asia-Pacific Nitric Acid Market Forecasts and Analysis - By Application
8.3.4 Asia-Pacific Nitric Acid Market Forecasts and Analysis - By Countries
8.3.4.1 Australia Nitric Acid Market
8.3.4.1.1 Australia Nitric Acid Market by Application
8.3.4.2 China Nitric Acid Market
8.3.4.2.1 China Nitric Acid Market by Application
8.3.4.3 India Nitric Acid Market
8.3.4.3.1 India Nitric Acid Market by Application
8.3.4.4 Japan Nitric Acid Market
8.3.4.4.1 Japan Nitric Acid Market by Application
8.3.4.5 Indonesia Nitric Acid Market
8.3.4.5.1 Indonesia Nitric Acid Market by Application
8.3.4.6 Rest of Asia-Pacific Nitric Acid Market
8.3.4.6.1 Rest of Asia-Pacific Nitric Acid Market by Application
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa Nitric Acid Market Overview
8.4.2 Middle East and Africa Nitric Acid Market Forecasts and Analysis
8.4.3 Middle East and Africa Nitric Acid Market Forecasts and Analysis - By Application
8.4.4 Middle East and Africa Nitric Acid Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa Nitric Acid Market
8.4.4.1.1 South Africa Nitric Acid Market by Application
8.4.4.2 Saudi Arabia Nitric Acid Market
8.4.4.2.1 Saudi Arabia Nitric Acid Market by Application
8.4.4.3 U.A.E Nitric Acid Market
8.4.4.3.1 U.A.E Nitric Acid Market by Application
8.4.4.4 Rest of Middle East and Africa Nitric Acid Market
8.4.4.4.1 Rest of Middle East and Africa Nitric Acid Market by Application
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America Nitric Acid Market Overview
8.5.2 South and Central America Nitric Acid Market Forecasts and Analysis
8.5.3 South and Central America Nitric Acid Market Forecasts and Analysis - By Application
8.5.4 South and Central America Nitric Acid Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil Nitric Acid Market
8.5.4.1.1 Brazil Nitric Acid Market by Application
8.5.4.2 Argentina Nitric Acid Market
8.5.4.2.1 Argentina Nitric Acid Market by Application
8.5.4.3 Rest of South and Central America Nitric Acid Market
8.5.4.3.1 Rest of South and Central America Nitric Acid Market by Application

9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

10. NITRIC ACID MARKET, KEY COMPANY PROFILES
10.1. DUPONT
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. BASF
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. THE DOW CHEMICAL COMPANY
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. NUTRIEN
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. OMNIA HOLDINGS
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. APACHE NITROGEN PRODUCTS INC.
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. CF INDUSTRIES
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. RASHTRIYA CHEMICALS AND FERTILIZERS LTD (RCF)
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. DYNO NOBEL
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. SASOL
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments

11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS
The List of Companies

1. DuPont
2. BASF
3. The Dow Chemical Company
4. Nutrien
5. Omnia Holdings
6. Apache Nitrogen Products Inc.
7. CF Industries
8. Rashtriya Chemicals and Fertilizers Ltd (RCF)
9. Dyno Nobel
10. Sasol

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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