Acumen Research and Consulting estimates that global Nitric Acid market is expected to reach the market value of around US$ 33 Bn by 2027 and is anticipated to grow at a CAGR of around 3% in terms of revenue during the forecast period 2020 – 2027.
Nitric acid is a poisonous solvent a potent oxidizing agent that produces startling red or yellow gases in warm air. It quickly ionizes in solution and forms a good electricity conductor. Nitric acid has wide variety of uses in various end-use industries, including metallurgy, metalworking, pharmaceutical and other sectors that are expected to expand on the world nitric acid market. Increased demand in food and emerging textile industries are becoming the main driving force of products of nitric acid.
The report provides analysis of global Nitric Acid market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Market Insights
The growing demand from the agricultural and chemical industries is a major factor driving the global market. Another big factor that will drive growth in the global demand in the coming years is the increasing use of nitric acid in the automobile and explosive industries. Moreover, increased competition from the electronics industry is projected to stimulate global business growth. However, strict policy regulations are essential factors that inhibit target market growth. Increased footwear and car industry demand are a move towards the target market.
Regional Stance
The North American industry is expected to experience considerable growth over the projected period owing to the presence of several global chemical producers in the US. The demand for nitric acid is expected to continue to show strong growth as sectors such as homes, automobiles, agricultural and furniture evolve rapidly. For the formulation of fertilizers and nylon, these factories need high quality nitrogen acid. In addition, the demand for explosive ammonium nitrate from the mining industry has grown, increasing overall market development as a result.
Germany is home to some of the world's biggest manufacturers. Key firms include BMW, Volkswagen, Daimler AG, Adam Opel Ford etc. As a result, nylon products for the interior and construction of vehicles in the country are widely sought after. However, by 2020, production of nearly 5.5 Mn vehicles in 2019 represented an all-time low. The primary explanation for this was the growing trade tension between China and the U.S., which impacted the international markets and resulted in weak demand.
Report coverage
The market research study on “Nitric Acid Market (Nitric Acid Market By Type: Fuming nitric acid, Strong nitric acid; Nitric Acid Market By Application: Agrochemicals, Explosives, Fertilizers, Chemicals, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Nitric Acid market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Nitric Acid market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Nitric Acid market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Nitric Acid market is segmented as below:
Market Segmentation
Nitric Acid Market By Type
Fuming nitric acid
Strong nitric acid
Nitric Acid Market By Application
Agrochemicals
Explosives
Fertilizers
Chemicals
Others
Nitric Acid Market By Geography
North America
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Key Players and Market Situation
Participants include major global players such BASF, Energy & Fertilizers, CF Industries, Orica, DuPont, Agrium, Incitec Pivot, LyondellBasell, LSB Industries, Others.
The primary use of nitric acid in areas, covering over 90 percent globally, is in captivity. However, 10% of the market share has little effect on the overall trade. Organizations such as Yara International and CF Industries are the major users of the fertilizer drug, which is the biggest multinational fertilizer producer. Global foreign players have a market share of more than 35.0%. CF Industries has the world's four largest nitrogen fertilizer production facility. In Port Neal, Iowa and Verdigris, Michigan, the company has two manufacturing facilities.
Table Of Content:
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Nitric Acid
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Nitric Acid Market By Type
1.2.2.1. Global Nitric Acid Market Revenue and Growth Rate Comparison By Type (2020-2027)
1.2.2.2. Global Nitric Acid Market Revenue Share By Type in 2019
1.2.2.2.1. Fuming nitric acid
1.2.2.2.2. Strong nitric acid
1.2.3. Nitric Acid Market By Application
1.2.3.1. Agrochemicals
1.2.3.2. Explosives
1.2.3.3. Fertilizers
1.2.3.4. Chemicals
1.2.3.5. Others
1.2.4. Nitric Acid Market By Geography
1.2.4.1. Global Nitric Acid Market Revenue and Growth Rate Comparison by Geography (2020-2027)
1.2.4.2. North America Nitric Acid Market Revenue and Growth Rate(2020-2027)
1.2.4.3. Europe Nitric Acid Market Revenue and Growth Rate(2020-2027)
1.2.4.4. Asia-Pacific Nitric Acid Market Revenue and Growth Rate(2020-2027)
1.2.4.5. Latin America Nitric Acid Market Revenue and Growth Rate(2020-2027)
1.2.4.6. Middle East and Africa (MEA) Nitric Acid Market Revenue and Growth Rate(2020-2027)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2019
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
3.1. Capacity and Commercial Production Date of Global Pure Cashmere Major Manufacturers in 2019
3.2. Manufacturing Plants Distribution of Global Pure Cashmere Major Manufacturers in 2019
3.3. R&D Status and Technology Source of Global Pure Cashmere Major Manufacturers in 2019
3.4. Raw Materials Sources Analysis of Global Pure Cashmere Major Manufacturers in 2019
CHAPTER 4. Nitric Acid MARKET By Type
4.1. Global Pure Cashmere Revenue By Type
4.2. Fuming nitric acid
4.2.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
4.3. Strong nitric acid
4.3.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
CHAPTER 5. Nitric Acid MARKET By Application
5.1. Global Pure Cashmere Revenue By Application
5.2. Agrochemicals
5.2.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.3. Explosives
5.3.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.4. Fertilizers
5.4.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.4.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.5. Chemicals
5.5.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.5.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.6. Others
5.6.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.6.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
CHAPTER 6. NORTH AMERICA Nitric Acid MARKET BY COUNTRY
6.1. North America Nitric Acid Market Revenue and Growth Rate, 2020 - 2027 ($Million)
6.2. North America Nitric Acid Market Revenue Share Comparison, 2020 & 2027 (%)
6.3. U.S.
6.3.1. U.S. Nitric Acid Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
6.3.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
6.4. Canada
6.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
6.4.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
CHAPTER 7. EUROPE Nitric Acid MARKET BY COUNTRY
7.1. Europe Nitric Acid Market Revenue and Growth Rate, 2020 - 2027 ($Million)
7.2. Europe Nitric Acid Market Revenue Share Comparison, 2020 & 2027 (%)
7.3. UK
7.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.3.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
7.4. Germany
7.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.4.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
7.5. France
7.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.5.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
7.6. Spain
7.6.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.6.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
7.7. Rest of Europe
7.7.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.7.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
CHAPTER 8. ASIA-PACIFIC Nitric Acid MARKET BY COUNTRY
8.1. Asia-Pacific Nitric Acid Market Revenue and Growth Rate, 2020 - 2027 ($Million)
8.2. Asia-Pacific Nitric Acid Market Revenue Share Comparison, 2020 & 2027 (%)
8.3. China
8.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.3.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
8.4. Japan
8.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.4.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
8.5. India
8.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.5.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
8.6. Australia
8.6.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.6.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
8.7. South Korea
8.7.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.7.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
8.8. Rest of Asia-Pacific
8.8.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.8.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
CHAPTER 9. LATIN AMERICA Nitric Acid MARKET BY COUNTRY
9.1. Latin America Nitric Acid Market Revenue and Growth Rate, 2020 - 2027 ($Million)
9.2. Latin America Nitric Acid Market Revenue Share Comparison, 2020 & 2027 (%)
9.3. Brazil
9.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
9.3.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
9.4. Mexico
9.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
9.4.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
9.5. Rest of Latin America
9.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
9.5.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
CHAPTER 10. MIDDLE EAST & AFRICA Nitric Acid MARKET BY COUNTRY
10.1. Middle East & Africa Nitric Acid Market Revenue and Growth Rate, 2020 - 2027 ($Million)
10.2. Middle East& Africa Nitric Acid Market Revenue Share Comparison, 2020 & 2027 (%)
10.3. GCC
10.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
10.3.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
10.4. South Africa
10.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
10.4.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
10.5. Rest of Middle East & Africa
10.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
10.5.2. Market Revenue and Forecast By Application, 2020 - 2027 ($Million)
CHAPTER 11. COMPANY PROFILE
11.1. BASF
11.1.1. Company Snapshot
11.1.2. Overview
11.1.3. Financial Overview
11.1.4. Product Portfolio
11.1.5. Key Developments
11.1.6. Strategies
11.2. Energy & Fertilizers
11.2.1. Company Snapshot
11.2.2. Overview
11.2.3. Financial Overview
11.2.4. Product Portfolio
11.2.5. Key Developments
11.2.6. Strategies
11.3. CF Industries
11.3.1. Company Snapshot
11.3.2. Overview
11.3.3. Financial Overview
11.3.4. Product Portfolio
11.3.5. Key Developments
11.3.6. Strategies
11.4. Orica
11.4.1. Company Snapshot
11.4.2. Overview
11.4.3. Financial Overview
11.4.4. Product Portfolio
11.4.5. Key Developments
11.4.6. Strategies
11.5. DuPont
11.5.1. Company Snapshot
11.5.2. Overview
11.5.3. Financial Overview
11.5.4. Product Portfolio
11.5.5. Key Developments
11.5.6. Strategies
11.6. Agrium
11.6.1. Company Snapshot
11.6.2. Overview
11.6.3. Financial Overview
11.6.4. Product Portfolio
11.6.5. Key Developments
11.6.6. Strategies
11.7. Incitec Pivot
11.7.1. Company Snapshot
11.7.2. Overview
11.7.3. Financial Overview
11.7.4. Product Portfolio
11.7.5. Key Developments
11.7.6. Strategies
11.8. LyondellBasell
11.8.1. Company Snapshot
11.8.2. Overview
11.8.3. Financial Overview
11.8.4. Product Portfolio
11.8.5. Key Developments
11.8.6. Strategies
11.9. LSB Industries
11.9.1. Company Snapshot
11.9.2. Overview
11.9.3. Financial Overview
11.9.4. Product Portfolio
11.9.5. Key Developments
11.9.6. Strategies
11.10. Others
11.10.1. Company Snapshot
11.10.2. Overview
11.10.3. Financial Overview
11.10.4. Product Portfolio
11.10.5. Key Developments
11.10.6. Strategies
CHAPTER 12. RESEARCH APPROACH
12.1. Research Methodology
12.1.1. Initial Data Search
12.1.2. Secondary Research
12.1.3. Primary Research
12.2. Assumptions and Scope
