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Nitric Acid Global Market Report 2024

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    Report

  • 175 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5782919
The global nitric acid market size is expected to grow from $21.09 billion in 2022 to $21.84 billion in 2023 at a compound annual growth rate (CAGR) of 3.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global nitric acid market is expected to grow to $24.35 billion in 2027 at a compound annual growth rate (CAGR) of 2.8%.

The escalating utilization of nitric acid across various industries, including fertilizer, explosives, polyurethanes, polyamides, and others, is a key driver behind the growth of the nitric acid market. Nitric acid plays a crucial role in the manufacturing processes of explosives for coal mining, limestone for cement, and the production of fertilizers. With over 98% of its demand concentrated in these industries, nitric acid has become a fundamental component in their operational processes. For instance, according to a report by EQMS India Pvt. Ltd. in 2022, during the years 2020–21, domestic production of nitric acid reached approximately 758,000 MT, while the demand from various industries amounted to 993,000 MT. This resulted in a gap of about 235,000 MT between demand and domestic production, which was met through imports. This data underscores the vital role of nitric acid in meeting the needs of industries, driving its growth as a key raw material in sectors such as fertilizer, explosives, polyurethanes, polyamides, and others.

The anticipated growth in the agricultural sector is poised to propel the expansion of the nitric acid market. The agricultural sector, encompassing activities related to land cultivation, crop harvesting, and livestock rearing, is experiencing increasing demand for nitric acid. Nitric acid plays a crucial role in the production of ammonium nitrate fertilizers, contributing essential nitrogen to enhance crop growth and yield. Additionally, it serves as a soil amendment for pH adjustment, further augmenting its significance in agriculture. As reported by the Organization for Economic Co-operation and Development (OECD) in June 2022, achieving the zero-hunger target would necessitate a 28% increase in agricultural productivity over the next decade. Furthermore, global crop production is expected to rise by 87% by the year 2030. Consequently, the ongoing expansion of the agricultural sector stands as a key driver fueling the growth of the nitric acid market.

The predominant trend in the nitric acid market is the development of cutting-edge technologies aimed at enhancing production efficiency. The increasing use of chemicals such as nitric acid and nitrates in fertilizers has been linked to the alarming rise in global warming. Recognizing this, major players in the market are focusing on innovating new technologies to reduce nitrates used in fertilizers. For instance, in May 2022, LUNA INNOVATIONS, Inc., a US-based provider of sensing, testing, and measurement solutions, introduced the LuNOX process. This innovative process is designed to improve plant production by significantly reducing the energy and infrastructure costs associated with nitrate fertilizer production. Notably, it aims to benefit farmers by lowering fertilizer costs and the general public through reduced energy usage and decreased greenhouse gas emissions. The introduction of such technologies is a critical step in addressing environmental concerns and contributing to the reduction of global warming.

Major companies operating in the nitric acid market are increasingly prioritizing strategic collaborations to deliver reliable services to their customers. Strategic collaboration involves mutually beneficial partnerships between independent entities working together to achieve shared goals aligned with their respective strategic objectives. A notable example of such collaboration occurred in February 2023 when Rotating Machinery Services Inc., a US-based aftermarket engineering and services company, announced a partnership with Howden Maintenance Partners, a Belgium-based maintenance and repair services company. This collaboration between Rotating Machinery Services (RMS) and Howden Maintenance Partners (HMP) is aimed at enhancing the servicing of hot gas and nitric acid expanders in the Europe and Middle East (EMENA) region. Leveraging RMS's expertise in Hot Gas Expanders and HMP's local repair capabilities, the partnership seeks to provide customers with improved reliability, maintainability, and performance for Fluid Catalytic Cracking (FCC) and Nitric Acid Expanders. The collaboration establishes a European center of excellence for expander services, demonstrating a joint commitment to delivering enhanced solutions in the nitric acid market.

In December 2023, Yara International ASA, a Norwegian chemicals company, successfully completed the acquisition of Agribios Italiana's organic-based fertilizer business for an undisclosed sum. This strategic move by Yara reinforces its presence in the European market, positioning the company to broaden its portfolio in support of regenerative agriculture. The acquisition allows Yara to play a pivotal role in improving soil health and aligning with the European Union's objective of expanding organic farming practices. Agribios Italiana, an Italy-based chemical manufacturing company specializing in organic and organo-mineral fertilizers, adds valuable expertise and resources to Yara's expanding capabilities.

Major companies operating in the nitric acid market report are Sinopec Nanjing Chemical Industries Co. Ltd., BASF SE, Thyssenkrupp AG, Nutrien Ltd., Mitsubishi Chemical Corporation, 3M company, Yara International ASA, Deepak Fertilisers and Petrochemicals Corporation Ltd., DuPont de Nemours Inc., CF Industry Holdings Inc., Sika AG, EuroChem Group AG, OCI N.V., The Lubrizol Corporation, Adeka Corp., Enaex S.A., Rashtriya Chemicals & Fertilizers Ltd., Hanwha Corporation, Gujarat Narmada Valley Fertilizers & Chemicals Limited, TKG Huchems Co. Ltd., LSB Industries Inc., Dorf Ketal Chemicals Pvt. Ltd., Ube Industries Ltd., PMC Specialties Group Inc., Mayzo Inc., Chemtrade Logistics Inc., Angus Chemical Company, Apache Nitrogen Products Inc., Abu Qir Fertilizers and Chemicals Co., MaxamCorp Holding SL.

Europe was the largest region in the nitric acid market in 2023. The regions covered in the nitric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the nitric acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The nitric acid market consists of sales of fuming nitric acid and anhydrous nitric acid. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of nitric acid include concentrated nitric acid and dilute nitric acid. Concentrated nitric acid is a potent oxidizing agent typically stored in dark brown bottles to prevent photolytic decomposition of dinitrogen tetroxide. It is utilized in manufacturing processes to avoid spontaneous explosions. Various applications of concentrated nitric acid include its use in the production of fertilizers, nitrobenzene, adipic acid, toluene diisocyanate (TDI), nitrochlorobenzene, and other compounds across industries such as explosives, agrochemicals, electronics, automotive, and more.

The nitric acid market research report is one of a series of new reports that provides nitric acid market statistics, including the nitric acid industry's global market size, regional shares, competitors with a nitric acid market share, detailed nitric acid market segments, market trends and opportunities, and any further data you may need to thrive in the nitric acid industry. This nitric acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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Table of Contents

1. Executive Summary2. Nitric Acid Market Characteristics3. Nitric Acid Market Trends and Strategies
4. Nitric Acid Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Nitric Acid Market Size and Growth
5.1. Global Nitric Acid Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Nitric Acid Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Nitric Acid Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Nitric Acid Market Segmentation
6.1. Global Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Concentrated Nitric Acid
  • Dilute Nitric Acid
6.2. Global Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Fertilizers
  • Nitrobenzene
  • Adipic Acid
  • Toluene Diisocyanate (TDI)
  • Nitrochlorobenzene
  • Other Applications
6.3. Global Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Explosives
  • Agrochemicals
  • Electronics
  • Automotive
  • Other End-Use Industries
7. Nitric Acid Market Regional and Country Analysis
7.1. Global Nitric Acid Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Nitric Acid Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Nitric Acid Market
8.1. Asia-Pacific Nitric Acid Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Nitric Acid Market
9.1. China Nitric Acid Market Overview
9.2. China Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Nitric Acid Market
10.1. India Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Nitric Acid Market
11.1. Japan Nitric Acid Market Overview
11.2. Japan Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Nitric Acid Market
12.1. Australia Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Nitric Acid Market
13.1. Indonesia Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Nitric Acid Market
14.1. South Korea Nitric Acid Market Overview
14.2. South Korea Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Nitric Acid Market
15.1. Western Europe Nitric Acid Market Overview
15.2. Western Europe Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Nitric Acid Market
16.1. UK Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Nitric Acid Market
17.1. Germany Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Nitric Acid Market
18.1. France Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Nitric Acid Market
19.1. Italy Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Nitric Acid Market
20.1. Spain Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Nitric Acid Market
21.1. Eastern Europe Nitric Acid Market Overview
21.2. Eastern Europe Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Nitric Acid Market
22.1. Russia Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Nitric Acid Market
23.1. North America Nitric Acid Market Overview
23.2. North America Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Nitric Acid Market
24.1. USA Nitric Acid Market Overview
24.2. USA Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Nitric Acid Market
25.1. Canada Nitric Acid Market Overview
25.2. Canada Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Nitric Acid Market
26.1. South America Nitric Acid Market Overview
26.2. South America Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Nitric Acid Market
27.1. Brazil Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Nitric Acid Market
28.1. Middle East Nitric Acid Market Overview
28.2. Middle East Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Nitric Acid Market
29.1. Africa Nitric Acid Market Overview
29.2. Africa Nitric Acid Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Nitric Acid Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Nitric Acid Market, Segmentation by End-Use Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Nitric Acid Market Competitive Landscape and Company Profiles
30.1. Nitric Acid Market Competitive Landscape
30.2. Nitric Acid Market Company Profiles
30.2.1. Sinopec Nanjing Chemical Industries Co. Ltd
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. BASF SE
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Thyssenkrupp AG
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Nutrien Ltd.
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. Mitsubishi Chemical Corporation
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Nitric Acid Market Other Major and Innovative Companies
31.1. 3M company
31.2. Yara International ASA
31.3. Deepak Fertilizers and Petrochemicals Corporation Ltd.
31.4. DuPont de Nemours Inc.
31.5. CF Industry Holdings Inc.
31.6. Sika AG
31.7. EuroChem Group AG
31.8. OCI N.V.
31.9. The Lubrizol Corporation
31.10. Adeka Corp.
31.11. Enaex S.A.
31.12. Rashtriya Chemicals & Fertilizers Ltd.
31.13. Hanwha Corporation
31.14. Gujarat Narmada Valley Fertilizers & Chemicals Limited
31.15. TKG Huchems Co. Ltd.
32. Global Nitric Acid Market Competitive Benchmarking33. Global Nitric Acid Market Competitive Dashboard34. Key Mergers and Acquisitions in the Nitric Acid Market
35. Nitric Acid Market Future Outlook and Potential Analysis
35.1 Nitric Acid Market in 2028 - Countries Offering Most New Opportunities
35.2 Nitric Acid Market in 2028 - Segments Offering Most New Opportunities
35.3 Nitric Acid Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Nitric Acid Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on nitric acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for nitric acid? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Type: Concentrated Nitric Acid; Dilute Nitric Acid
2) By Application: Fertilizers; Nitrobenzene; Adipic Acid; Toluene Diisocyanate (TDI); Nitrochlorobenzene; Other Applications
3) By End-Use Industry: Explosives; Agrochemicals; Electronics; Automotive; Other End-Use Industries

Key Companies Mentioned: Sinopec Nanjing Chemical Industries Co. Ltd; BASF SE; Thyssenkrupp AG; Nutrien Ltd.; Mitsubishi Chemical Corporation

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

  • Sinopec Nanjing Chemical Industries Co. Ltd
  • BASF SE
  • Thyssenkrupp AG
  • Nutrien Ltd.
  • Mitsubishi Chemical Corporation
  • 3M company
  • Yara International ASA
  • Deepak Fertilisers and Petrochemicals Corporation Ltd.
  • DuPont de Nemours Inc.
  • CF Industry Holdings Inc.
  • Sika AG
  • EuroChem Group AG
  • OCI N.V.
  • The Lubrizol Corporation
  • Adeka Corp.
  • Enaex S.A.
  • Rashtriya Chemicals & Fertilizers Ltd.
  • Hanwha Corporation
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited
  • TKG Huchems Co. Ltd.
  • LSB Industries Inc.
  • Dorf Ketal Chemicals Pvt. Ltd.
  • Ube Industries Ltd.
  • PMC Specialties Group Inc.
  • Mayzo Inc.
  • Chemtrade Logistics Inc.
  • Angus Chemical Company
  • Apache Nitrogen Products Inc.
  • Abu Qir Fertilizers and Chemicals Co.
  • MaxamCorp Holding SL

Methodology

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Table Information