Concentrated Nitric Acid Market - Forecast(2024 - 2030)
Concentrated
Nitric Acid Market Overview
Concentrated
Nitric Acid Market size is forecast to reach $28.22 billion by 2026, after growing at a CAGR
of 3.8% during the period 2021-2026. Nitric Acid is a toxic strong mineral acid
which is highly corrosive in nature. In general, nitric acid is colorless but
it acquires pale yellow color when stored. Concentrated nitric acid ordinarily
have the concentration that varies from 65% to 95%. The concentrated nitric
acid is used in the manufacturing of organic and inorganic compounds for
fertilizers, explosives, woodworking, and others. Whereas Nylon 6/6 is made up
of 90% of the adipic acid produced in the United States. The growth in the
market is due to the increase in the usage of concentrated nitric acid in various
sectors like, electrical and electronics, aerospace, agriculture, chemicals and
others.
COVID -19 Impact:
COVID-19 had a
negative impact on the market in 2020. Due to the pandemic scenario, mining and
automotive manufacturing activities were temporarily halted during the
government-imposed lockdown, resulting in a reduction in the consumption of
concentrated nitric acid used in the manufacture of automobile interior
products and mining explosive materials, negatively impacting the environment. However,
nitric oxide, a chemical created by reducing nitric acid with copper and used
to treat pulmonary hypertension and acute respiratory distress syndrome, has
gained in popularity since it has the potential to treat COVID-19 patients,
boosting demand for the market under consideration.
Report Coverage
Key Takeaways
- Asia Pacific dominates the Concentrated Nitric Acid Market owing to rapid increase in the agrochemical industry.
- The market drivers and restraints have been assessed to understand their impact over the forecast period.
- The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
- The other key areas of focus include the various applications and end use industry in Concentrated Nitric Acid Market and their specific segmented revenue.
- Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Concentrated Nitric Acid Market related industries has been negatively affected, thus hampering the growth of the market.
Figure: Concentrated Nitric Acid Market Revenue, 2020-2026 (US$ Billion)
Concentrated Nitric
Acid Market Segment Analysis - By Type
Concentrated Nitric Acid Market Segment Analysis - By Application
Concentrated Nitric Acid Market Segment Analysis - By End Use Industry
Concentrated Nitric Acid Market Segment Analysis - Geography
Concentrated Nitric Acid
Market Drivers
Rise in Demand for Concentrated Nitric Acid in Different Industries
Concentrated Nitric Acid
Market Challenges
Fluctuation in Price of Concentrated Nitric Acid
Concentrated Nitric Acid Market Landscape
Acquisitions/Technology Launches/ Product Launches
- In September 2020, CF industries announced to invest $41.4 million at Donaldsonville Nitrogen Complex which is the world’s largest nitrogen fertilizer complex for the enhance nitric acid production. This will help the company to meet the demands for the products from different chemical industries.
Related Report:
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Concentrated Nitric Acid Market By Type Market 2023-2030 ($M)1.1 Strong Nitric Acid Market 2023-2030 ($M) - Global Industry Research
1.2 Fuming Nitric Acid Market 2023-2030 ($M) - Global Industry Research
2.Global Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 ($M)
2.1 Agrochemicals Market 2023-2030 ($M) - Global Industry Research
2.2 Explosives Market 2023-2030 ($M) - Global Industry Research
2.3 Automotive Market 2023-2030 ($M) - Global Industry Research
2.4 Electronics Market 2023-2030 ($M) - Global Industry Research
3.Global Concentrated Nitric Acid Market By Type Market 2023-2030 (Volume/Units)
3.1 Strong Nitric Acid Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Fuming Nitric Acid Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 (Volume/Units)
4.1 Agrochemicals Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Explosives Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Automotive Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Electronics Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Concentrated Nitric Acid Market By Type Market 2023-2030 ($M)
5.1 Strong Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
5.2 Fuming Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
6.North America Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 ($M)
6.1 Agrochemicals Market 2023-2030 ($M) - Regional Industry Research
6.2 Explosives Market 2023-2030 ($M) - Regional Industry Research
6.3 Automotive Market 2023-2030 ($M) - Regional Industry Research
6.4 Electronics Market 2023-2030 ($M) - Regional Industry Research
7.South America Concentrated Nitric Acid Market By Type Market 2023-2030 ($M)
7.1 Strong Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
7.2 Fuming Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
8.South America Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 ($M)
8.1 Agrochemicals Market 2023-2030 ($M) - Regional Industry Research
8.2 Explosives Market 2023-2030 ($M) - Regional Industry Research
8.3 Automotive Market 2023-2030 ($M) - Regional Industry Research
8.4 Electronics Market 2023-2030 ($M) - Regional Industry Research
9.Europe Concentrated Nitric Acid Market By Type Market 2023-2030 ($M)
9.1 Strong Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
9.2 Fuming Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
10.Europe Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 ($M)
10.1 Agrochemicals Market 2023-2030 ($M) - Regional Industry Research
10.2 Explosives Market 2023-2030 ($M) - Regional Industry Research
10.3 Automotive Market 2023-2030 ($M) - Regional Industry Research
10.4 Electronics Market 2023-2030 ($M) - Regional Industry Research
11.APAC Concentrated Nitric Acid Market By Type Market 2023-2030 ($M)
11.1 Strong Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
11.2 Fuming Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
12.APAC Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 ($M)
12.1 Agrochemicals Market 2023-2030 ($M) - Regional Industry Research
12.2 Explosives Market 2023-2030 ($M) - Regional Industry Research
12.3 Automotive Market 2023-2030 ($M) - Regional Industry Research
12.4 Electronics Market 2023-2030 ($M) - Regional Industry Research
13.MENA Concentrated Nitric Acid Market By Type Market 2023-2030 ($M)
13.1 Strong Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
13.2 Fuming Nitric Acid Market 2023-2030 ($M) - Regional Industry Research
14.MENA Concentrated Nitric Acid Market By End-Use Industry Market 2023-2030 ($M)
14.1 Agrochemicals Market 2023-2030 ($M) - Regional Industry Research
14.2 Explosives Market 2023-2030 ($M) - Regional Industry Research
14.3 Automotive Market 2023-2030 ($M) - Regional Industry Research
14.4 Electronics Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)2.Canada Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
3.Mexico Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
4.Brazil Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
5.Argentina Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
6.Peru Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
7.Colombia Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
8.Chile Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
9.Rest of South America Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
10.UK Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
11.Germany Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
12.France Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
13.Italy Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
14.Spain Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
15.Rest of Europe Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
16.China Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
17.India Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
18.Japan Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
19.South Korea Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
20.South Africa Concentrated Nitric Acid Market Revenue, 2023-2030 ($M)
21.North America Concentrated Nitric Acid By Application
22.South America Concentrated Nitric Acid By Application
23.Europe Concentrated Nitric Acid By Application
24.APAC Concentrated Nitric Acid By Application
25.MENA Concentrated Nitric Acid By Application
26.Yara International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Potash Corp, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Agrium Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.OCI N.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.BASF, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Hanwha Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Linde Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.UBE Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.LSB Industries Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)