Nitric Acid Market Future Scope, Development, Latest Rising Trends, Revenue, and Growth Factors up to 2028
Global Nitric Acid Market is
defined as a highly corrosive and toxic form of acid which is defined as having
colorless nature in its initial stages, although its color is transformed to
yellow with decomposition into nitrogen oxide and water. These compounds are
highly popular as agricultural fertilizers, although a wide-scope of other
applications are also accepted such as production of ammonium nitrate,
polyurethanes, polyamides and various other products. High demands associated
for the product due to increasing areas of application for polyurethane foams;
this factor is expected to propel the growth of the market Growing areas of
application of nitric acid in a number of other industries including chemical
and fertilizer acts as a market driver Growth in usage of adipic acid for
lightweight automotive production will boost this market growth Prevailing
mining industries uses ammonium nitrate (AN) as popular explosive and blasting
agent also acts as a market driver in the forecast period
Nitric Acid Market is
expected to register a steady CAGR of 3.25% in the forecast period of 2020-2028.
The report contains data from the base year of 2018 and the historic year of
2017. This rise in market value can be attributed to the growing usage of
fertilizers globally to meet the rising demands for agricultural products.
Nitric Acid Market By Product Type
(Fuming, Non-Fuming), Grade (Commercial, Others), Concentration (Dilute Nitric
Acid, Concentrated Nitric Acid) Application (Fertilizers, Ammonium Nitrate,
Nitrobenzene, Toluene Di-isocynate, Adipic Acid, Nitro Chlorobenzene,
Polyurethanes, Polyamides, Others), End-Use Industry (Agrochemicals,
Explosives, Chemicals, Mining, Others), Geography (North America, Europe,
Asia-Pacific, South America, Middle East and Africa) – Industry Trends and
Forecast to 2028. Presence of high volume of regulations regarding the usage of
ammonium nitrate as a fertilizer hampers the growth of this market Various
concerns regarding the toxic nature of the compound requiring enhanced concerns
and safety procedures for its handling, production and usage can restrict the
market growth Nitric acid is harmful for human contact causing burns to mouth,
throat, stomach which can be lethal; this is another factor hampering this
market growth
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Segmentation: Nitric Acid Market:
By Product Type: Fuming,
Non-Fuming
By Concentration: Dilute
Nitric Acid (68%), Concentrated
Nitric Acid (69%-71%)
By Grade: Commercial,
Others
By Application: Fertilizers,
Ammonium Nitrate, Nitrobenzene,
Toluene Di-isocynate
Adipic Acid, Nitro Chlorobenzene, Polyurethanes,
Polyamides, Others
Nitric Acid Market Scope and Market Size:
Key Developments
in the Market:
In June 2019, Acron announced that they had commissioned
the expansion of a new production unit for nitric acid at the facility situated
at Veliky Novgorod, Russia. The upgraded unit bringing an expansion of
135,000-tonnes per annum. This expansion is evident of the company strategy
developed by the company in 2017. Along with this expansion, the one concluded
in early 2019 Acron will be able to extend its production of nitric acid by
270,000 tonnes to result in 1.8 million tonnes in total
In January 2019, Kemerovo Azot announced that they will
enhance the production of ammonium nitrate with the help of OJSC GIAP
technology. This improvement of production involves the upgradation by
upgrading the plant and reducing the levels of emissions under the agreement
signed with the OJSC GIAP. This expansion also includes enhancement of nitric
acid and hydrogen production
Competitive
Analysis:
Global nitric acid market is highly fragmented and the
major players have used various strategies such as new product launches,
expansions, agreements, joint ventures, partnerships, acquisitions, and others
to increase their footprints in this market. The report includes market shares
of nitric acid market for global, Europe, North America, Asia-Pacific, South
America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the
global nitric acid market are BASF SE; CF Fertilisers UK. Company; Orica
Limited; The Chemours Company; DuPont de Nemours, Inc.; Nutrien Ltd.; LSB
Industries; Incitec Pivot limited; Dyno Nobel; IXOM; J.R. Simplot Company;
Wesfarmers Chemicals, Energy & Fertilisers; PVS Chemicals; Yara; DFPCL;
Koch-Glitsch, LP; Koch Fertilizer, LLC; Kemcore; ALVIGO Group of Companies
among others.
Key Pointers Covered in
the Nitric Acid Market:
Market New Sales Volumes
Market Replacement Sales Volumes
Market Installed Base
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Healthcare Outcomes
Market Cost of Care Analysis
Market Regulatory Framework and Changes
Prices and Reimbursement Analysis
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
MAJOR TOC OF THE
REPORT:
Chapter One: Nitric Acid Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Nitric Acid Market Competition, by
Players
Chapter Four: Nitric Acid Market Size by Regions
Chapter Five: Nitric Acid Market Revenue by Countries
Chapter Six: Nitric Acid Market Revenue by Type
Chapter Seven: Nitric Acid Market Revenue by Application
Chapter Eight: Nitric Acid Market Revenue by Industries
Chapter Nine: Nitric Acid Market Revenue by Deployment
Model
Chapter Ten: Nitric Acid Market Revenue by End User
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The key questions
answered in this report:
What will be the Market Size and Growth Rate in the
forecast year?
What is the Key Factors driving Laser Capture Nitric Acid Market?
What are the Risks and Challenges in front of the market?
Who are the Key Vendors in Nitric Acid Market?
What are the Trending Factors influencing the market
shares?
What is the Key Outcomes of Porter’s five forces model
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