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Nitric Acid Market Size, Share & Trends Analysis Report By Application (Fertilizers, Nitrobenzene, Adipic Acid, Toluene Di-isocyanate, Nitoroclorobenzene), By Region, And Segment Forecasts, 2023 - 2030

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  • 100 Pages
  • March 2023
  • Region: Global
  • Grand View Research
  • ID: 4538907
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Nitric Acid Market Growth & Trends

The global nitric acid market size is expected to reach USD 35.9 billion by 2030, registering a CAGR of 2.4% from 2023 to 2030. The growth is attributed to the rising demand for fertilizers by the agrarian economies of the world. The surge in the demand for fertilizers is witnessed by the excessive rise in demand for food. Fertilizer is the major application of nitric acid which caters to the maximum share across the global market. Farmers are adopting new technologies to speed up their crop yield to satisfy their excessive need. The product is also consumed in the manufacturing of adipic acid which is an important raw material in the development of Nylon 6, 6. Nylon 6, 6 is used extensively in the manufacturing of plastics and industrial carpets.

Nitric acid is produced by the reaction of nitrogen dioxide with water wherein the diluted nitric acid has distilled concentration of over 68%. There are majorly two types of the production process of the product which include weak nitric acid production and high-strength production. The high strength is produced under high-temperature conditions by first oxidizing ammonia, then is oxidation followed by absorption.

The global product market has become highly competitive due to the presence of big players in the industry. Big companies are constantly innovating the process through their extensive research and development. Also, the use of technology like mono-medium pressure process, mono-high pressure process, and dual pressure process are playing a major part in the making of the product overall.

A substantial amount of the product is consumed in the manufacturing of chemical fertilizers. However, these chemical fertilizers have an adverse effect on the environment. Fertilizer production utilizes various additives and preservatives to enhance their property and to give the optimum result. However, these additives can cause a significant soil nutrient loss and degradation of underground water reserves which are consumed by the general population.

Nitric Acid Market Report Highlights

  • Nitrobenzene application witnessed the fastest growth rate with a CAGR of nearly 5.0%. This is attributed to the wide utilization of nitrobenzene in the construction industry.
  • Fertilizer application captures the major market share globally with nearly 80.53% in 2022. This is attributed to the excessive demand for food. Food consumption is increasing massively due to the rise in global population which is anticipated to trigger the demand for fertilizer even more in the forecast years.
  • Europe captures the major market share for the product across the globe due to the major players operating in the region. The demand in Central Europe is starting to take a leap. However, Eastern Europe is showing huge potential for expansion.
  • The global product market has become highly competitive due to the involvement of big companies in specialty chemical manufacturing. Big companies are integrating their business across the value chain to obtain maximum profit at the lowest investment.
  • The production of chemical fertilizers involves a substantial volume of additives and chemical-based substances which have an adverse effect on the environment. Also, nitric acid is considered a dangerous substance due to its ability to cause skin burn, and eye damage, It is therefore recommended to take precautionary measures.

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1 Methodology & Scope
1.1 Nitric Acid Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research Scope & Assumption
1.6.2 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Nitric Acid: Market Variables & Trends Analysis
3.1 Nitric Acid Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Trend
3.2.2 Manufacturing Trend
3.2.3 Distribution Channel Analysis
3.3 Price Trend Analysis
3.4 Regulatory Framework
3.6 Impact Of The COVID-19 Pandemic
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.2 Market Restraint Analysis
3.5.3 Industry Challenges
3.5.4 Industry Opportunities
3.11 Business Environment Analysis
3.11.1 Porter’s Analysis
3.11.2 PESTEL Analysis
Chapter 4 Nitric Acid Market: Application Estimates & Trend Analysis
4.1 Nitric Acid Market Share By Application, 2021 & 2030
4.2 Fertilizers
4.2.1 Fertilizers Market Size & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
4.3 Adipic Acid
4.3.1 Adipic Acid Market Size & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
4.4 Nitrobenzene
4.4.1 Nitrobenzene Market Size & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
4.5 Toluene Di - Isocyanate
4.5.1 Toluene Di - Isocyanate Market Size & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
4.6 Nitrochlorobenzene
4.6.1 Nitrochlorobenzene Market Size & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
4.7 Others
4.7.1 Others Market Size & Forecasts And Trend Analysis, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5 Nitric Acid Market: Regional Estimates & Trend Analysis
5.1 Nitric Acid Market Share By Region, 2021 & 2030
5.2 North America
5.2.1 North America Nitric Acid Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.2.2 North America Nitric Acid Market Estimates & Forecasts, By Application, 2018 - 2030 (Kilotons) (USD Million)
5.2.3 U.S.
5.2.4 Canada
5.2.5 Mexico
5.3 Europe
5.3.1 Europe Nitric Acid Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3.2 Europe Nitric Acid Market Estimates & Forecasts, By Application, 2018 - 2030 (Kilotons) (USD Million)
5.3.3 Russia
5.3.4 France
5.3.5 Poland
5.3.6 Ukraine
5.4 Asia Pacific
5.4.1 Asia Pacific Nitric Acid Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4.2 Asia Pacific Nitric Acid Market Estimates & Forecasts, By Application, 2018 - 2030 (Kilotons) (USD Million)
5.4.3 China
5.4.4 Uzbekistan
5.4.5 Kazakhstan
5.4.6 Thailand
5.5 Central & South America
5.5.1 Central & South America Nitric Acid Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5.2 Central & South America Nitric Acid Market Estimates & Forecasts, By Application, 2018 - 2030 (Kilotons) (USD Million)
5.5.3 Brazil
5.6 Middle East & Africa
5.6.1 Middle East & Africa Nitric Acid Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6.2 Middle East & Africa Nitric Acid Market Estimates & Forecasts, By Application, 2018 - 2030 (Kilotons) (USD Million)
5.6.3 Egypt
Chapter 6 Competitive Analysis
6.1 Recent Developments & Impact Analysis, By Key Market Participants
6.2 Company Categorization
6.3 Company Market Share Analysis, 2022
6.4 Company Heat Map Analysis
6.5 Strategy Mapping
6.6 Company Listing
6.6.1 BASF SE
6.6.1.1 Company Overview
6.6.1.2 Financial Performance
6.6.1.3 Industries And Services Catered
6.6.1.4 Product Benchmarking
6.6.1.5 Strategic Initiatives
6.6.2 Dupont
6.6.2.1 Company Overview
6.6.2 2 Financial Performance
6.6.2.3 Industries And Services Catered
6.6.2.4 Product Benchmarking
6.6.2.5 Strategic Initiatives
6.6.3 Nutrien Ltd.
6.6.3.1 Company Overview
6.6.3.2 Financial Performance
6.6.3.3 Industries And Services Catered
6.6.3.4 Product Benchmarking
6.6.3.5 Strategic Initiatives
6.6.4 Omnia Holdings Limited
6.6.4.1 Company Overview
6.6.4.2 Financial Performance
6.6.4.3 Industries And Services Catered
6.6.4.4 Product Benchmarking
6.6.4.5 Strategic Initiatives
6.6.5 Apache Nitrogen Products Inc.
6.6.5.1 Company Overview
6.6.5.2 Financial Performance
6.6.5.3 Industries And Services Catered
6.6.5.4 Product Benchmarking
6.6.5.5 Strategic Initiatives
6.6.6 CF Industries Holdings, Inc.
6.6.6.1 Company Overview
6.6.6.2 Financial Performance
6.6.6.3 Industries And Services Catered
6.6.6.4 Product Benchmarking
6.6.6.5 Strategic Initiatives
6.6.7 Rashtriya Chemicals & Fertilizers Ltd.
6.6.7.1 Company Overview
6.6.7.2 Financial Performance
6.6.7.3 Industries And Services Catered
6.6.7.4 Product Benchmarking
6.6.7.5 Strategic Initiatives
6.6.8 Dyno Nobel
6.6.8.1 Company Overview
6.6.8.2 Financial Performance
6.6.8.3 Industries And Services Catered
6.6.8.4 Product Benchmarking
6.6.8.5 Strategic Initiatives
6.6.9 Sasol
6.6.9.1 Company Overview
6.6.9.2 Financial Performance
6.6.9.3 Industries And Services Catered
6.6.9.4 Product Benchmarking
6.6.9.5 Strategic Initiatives
6.6.10 Angus Chemical Company
6.6.10.1 Company Overview
6.6.10.2 Financial Performance
6.6.10.3 Industries And Services Catered
6.6.10.4 Product Benchmarking
6.6.11 Enaex S.A.
6.6.11.1 Company Overview
6.6.11.2 Financial Performance
6.6.11.3 Industries And Services Catered
6.6.11.4 Product Benchmarking
6.6.12 LSB Industries
6.6.12.1 Company Overview
6.6.12.2 Financial Performance
6.6.12.3 Industries And Services Catered
6.6.12.4 Product Benchmarking
6.6.13 Thyssenkrupp AG
6.6.13.1 Company Overview
6.6.13.2 Financial Performance
6.6.13.3 Industries And Services Catered
6.6.13.4 Product Benchmarking
6.6.14 Yara International ASA
6.6.14.1 Company Overview
6.6.14.2 Financial Performance
6.6.14.3 Industries And Services Catered
6.6.14.4 Product Benchmarking
6.6.15 J.R. Simplot Company
6.6.15.1 Company Overview
6.6.15.2 Financial Performance
6.6.15.3 Industries And Services Catered
6.6.15.4 Product Benchmarking
6.6.16 Ixom
6.6.16.1 Company Overview
6.6.16.2 Financial Performance
6.6.16.3 Industries And Services Catered
6.6.16.4 Product Benchmarking
List of Tables
Table 1. Nitric acid market volume & revenue, in fertilizers 2018 - 2030 (Kilotons) (USD Million)
Table 2. Nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 3. Nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 4. Nitric acid market volume & revenue, in adipic acid 2018 - 2030 (Kilotons) (USD Million)
Table 5. Nitric acid market volume & revenue, in nitrobenzene, 2018 - 2030 (Kilotons) (USD Million)
Table 6. Nitric acid market volume & revenue, in fertilizers 2018 - 2030 (Kilotons) (USD Million)
Table 7. Nitric acid market volume & revenue, in nitrochlorobenzene 2018 - 2030 (Kilotons) (USD Million)
Table 8. Nitric acid market volume & revenue, in others 2018 - 2030 (Kilotons) (USD Million)
Table 9. North America nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 10. North America nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 11. North America nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 12. North America nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 13. North America nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 14. U.S. nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 15. U.S. nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 16. U.S. nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 17. U.S. nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 18. U.S. nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 19. Canada nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 20. Canada nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 21. Canada nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 22. Canada nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 23. Canada nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 24. Mexico nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 25. Mexico nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 26. Mexico nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 27. Mexico nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 28. Mexico nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 29. Europe nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 30. Europe nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 31. Europe nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 32. Europe nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 33. Europe nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 34. Russia nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 35. Russia nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 36. Russia nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 37. Russia nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 38. Russia nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 39. France nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 40. France nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 41. France nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 42. France nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 43. France nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 44. Poland nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 45. Poland nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 46. Poland nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 47. Poland nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 48. Poland nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 49. Ukraine nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 50. Ukraine nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 51. Ukraine nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 52. Ukraine nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 53. Ukraine nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 54. Asia Pacific nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 55. Asia Pacific nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 56. Asia Pacific nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 57. Asia Pacific nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 58. Asia Pacific nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 59. China nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 60. China nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 61. China nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 62. China nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 63. China nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 64. Uzbekistan nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 65. Uzbekistan nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 66. Uzbekistan nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 67. Uzbekistan nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 68. Uzbekistan nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 69. Kazakhstan nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 70. Kazakhstan nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 71. Kazakhstan nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 72. Kazakhstan nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 73. Kazakhstan nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 74. Thailand nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 75. Thailand nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 76. Thailand nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 77. Thailand nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 78. Thailand nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 79. Central & South America nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 80. Central & South America nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 81. Central & South America nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 82. Central & South America nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 83. Central & South America nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 84. Brazil nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 85. Brazil nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 86. Brazil nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 87. Brazil nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 88. Brazil nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 89. Middle East & Africa nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 90. Middle East & Africa nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 91. Middle East & Africa nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 92. Middle East & Africa nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 93. Middle East & Africa nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 94. Egypt nitric acid market volume & revenue, 2018 - 2030 (Kilotons) (USD Million)
Table 95. Egypt nitric acid market volume, by application, 2018 - 2030 (Kilotons)
Table 96. Egypt nitric acid market revenue, by application, 2018 - 2030 (USD Million)
Table 97. Egypt nitric acid market volume in fertilizers, by product, 2018 - 2030 (Kilotons)
Table 98. Egypt nitric acid market revenue in fertilizers, by product, 2018 - 2030 (USD Million)
Table 99. Market players categorization
Table 100. List of Key Customers
List of Figures
Fig. 1 Nitric acid market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Nitric acid industry snapshot
Fig. 7 Nitric acid market penetration & growth, 2018 - 2030 (Kilotons) (USD Billion)
Fig. 8 Nitric acid market value chain analysis
Fig. 9 Nitric acid market dynamics
Fig. 10 Market driver impact analysis
Fig. 11 Average fertilizer consumption (kg. per hectare of arable land), 2005 to 2016
Fig. 12 Market restraint impact analysis
Fig. 13 Nitric acid key opportunities prioritized
Fig. 14 Nitric acid market volume, by application, 2021 & 2030 (Kilotons)
Fig. 15 Nitric acid market volume, by region, 2021 & 2030 (Kilotons)
Fig. 16 Agriculture sector growth rate in the Asia Pacific region, by Country, 2019
Fig. 17 Company market share analysis, 2020

Companies Mentioned

  • BASF SE
  • Dupont
  • Nutrien Ltd.
  • Omnia Holdings Limited
  • Apache Nitrogen Products Inc.
  • CF Industries Holdings, Inc.
  • Rashtriya Chemicals & Fertilizers Ltd.
  • Dyno Nobel
  • Sasol
  • Angus Chemical Company
  • Enaex S.A.
  • LSB Industries
  • Thyssenkrupp AG
  • Yara International ASA
  • J.R. Simplot Company
  • Ixom

Methodology

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Table Information

Report AttributeDetails
No. of Pages100
PublishedMarch 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 29.8 Billion
Forecasted Market Value ( USD ) by 2030 $ 35.9 Billion
Compound Annual Growth Rate2.4%
Regions CoveredGlobal
No. of Companies Mentioned16

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