Nitric Acid Market 2020 by Properties, Application, Production, Concentration, Demand, Top Players, Company Share, Competitive Dynamics, Regional Overview & Forecast
Research report on nitric acid market, focus on concentration, industrial applications, geographical analysis of overall market share during forecast period.
Dallas, United States – May 29, 2021 /MarketersMedia/ —
Adroit Market Research launched a study titled “Global Nitric Acid Market Size 2017 by Type (Weak, Concentrated), by End-user (Fertilizer, Explosives, Chemicals and Others) by Application (Ammonium Nitrate, Adipic Acid, Toluene di-isocynate, Nitro Benzene and Others), By Region and Forecast 2018 to 2025”. The global nitric acid market is expected to reach USD 23.31 billion by 2025, owing to its high consumption in fertilizer production. The nitric acid market is expected to increase at a 2.0% CAGR during the forecast period.
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Growing fertilizer demand in Asia Pacific region and developed textile industries in Europe are key drivers in the global nitric acid market. In addition, the explosives industry is another significant end-user of nitric acid. Ammonium nitrate is a key nitric acid derivative utilized in the manufacturing of explosives. Companies such as Dyno Nobel Inc. and Deepak Fertilizers And Petrochemicals Corporation Limited, have forward integrated business operations that include nitric acid production as well as supply and manufacturing of end-user products such as dynamite and ANFO explosives.
Krupp Uhde and Weatherly Inc. are some of the key process technology providers of nitric acid and ammonium nitrate to manufacture with low emission of greenhouse gases. EnviNOX®, a newly developed technology by Krupp Uhde, is one of the best available process technologies, which reduces the nitrous oxide emissions up to 25ppm. Additionally, Kellogg Brown & Root (KBR) together with Weatherly Inc., offer a multi-pressure technology to produce commercial nitric acid.
Out of the total demand for nitric acid in Asia-Pacific, China held more than 60% of the total revenue share in 2017. Abundant availability of precursors and high presence of downstream industries are driving the product demand in the country. Moreover, the Indian nitric acid industry is also expected to witness a rapid boost attributed to the increasing growth of fertilizers and chemical manufacturing industries in the country.
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Some of the companies such as Yara International ASA, CF Industry Holding Inc., Deepak Fertilizers And Petrochemicals Ltd., Orica Limited, Omnia Holdings Limited, Agrium Inc., and LSB Industries companies have strong production capabilities and global presence with multiple business operations across the globe. For instance, Yara International ASA, has an annual production capacity of more than 7.5 million tons. The company uses the product for manufacturing numerous nitrogen based fertilizers such as ammonium nitrate, calcium ammonium nitrate, potassium nitrate and others.
Key segments of the global nitric acid market
Concentration overview
Weak nitric acid
Concentrated nitric acid
Application overview
Ammonium nitrate
Adipic acid
Toluene di-Isocynate (TDI)
Nitrobenzene
Others
End-user overview
Explosives
Fertilizers
Chemicals
Others
Regional overview
North America
US
Europe
Russia
France
Germany
Asia Pacific
India
China
Central and South America
Brazil
Middle East & Africa
South Africa
Reasons for the study
The purpose of the study is to give a comprehensive outlook of the global nitric acid market.
We have been following the overall segmentation of nitric acid especially weak nitric acid. This sector has been capturing the customer concentration, as a key fragment of the nitric acid market
Emerging market of nitric acid in the Middle East & Africa and South America have been mainly driven by the increased demand on fertilizers consumption in agriculture industry to produce self-sufficient quantity of farming products
While conducting research on regional and country level, we noticed that the use of the product in multiple applications especially for production of fertilizer and textiles are expanding which adds the value to the growing market of the product
What does the report include?
The study on the global nitric acid market includes qualitative factors such as drivers, restraints, and opportunities
Additionally, the market has been evaluated using the value chain, PESTLE and Porter’s Five Forces’ analysis
The study covers qualitative and quantitative analysis of the market segmented on the basis of concentration, application, end-user and region. Moreover, the study provides similar information for the key geographies.
Actual market sizes and forecasts have been provided for all the above-mentioned segments
The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is suitable for industry participants and stakeholders in the inorganic acids industry, who want an in-depth insight into the movement of the weak and concentrated grades of the product. The report will benefit:
Facts and statistics about nitric acid and its precursor manufacturing companies that are engaged in the production and distribution of the product.
Managers within financial institutions looking to publish recent and forecasted statistics pertaining to numerous terminologies related to the product.
Venture capitalist looking into investing capital in manufacturing of product.
Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions for production, supply and logistics of nitric acid.
Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
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About Adroit Market Research
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Info:
Name: Ryan Johnson
Email: Send Email
Organization: Adroit Market Research
Website: https://www.adroitmarketresearch.com/industry-reports/nitric-acid-market
Source: MarketersMedia
Release ID: 89020891
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