GLOBAL NITRIC ACID MARKET was valued at USD 16.4 Billion in the year 2019. Global Nitric Acid Market is further estimated to grow at a CAGR of 3.8% from 2019 to reach USD 21.2 Billion by the year 2025. Europe region holds the highest market share in 2019 and the Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the US as well the emerging markets like China with highest population base holds the notable market share in 2019 and it is projected to grow at a gradual rate in the coming years.
Eurochem Group (Switzerland), BASF SE (Germany), The Chemours Company (US), Nutrien Ltd. (Canada) are some of the key players in the Nitric Acid Market with BASF SE holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
Developments in science and technology
High level of industrial development
The toxic levels of nitrate salts
Increasing demand in the APAC region
Environmental issues due to emissions during the production of nitric acid
Between TDI (Toluene diisocyanate), Fertilizers, Nitrobenzene, Adipic Acid, Fertilizers segment because of the growing popularity and availability is expected to hold the highest market share during the forecast period.
The Fertilizers segment is also expected to grow at the highest CAGR of XXX during the year 2019-2025.
Key Benefits for Stakeholders
Nitric Acid Manufacturers, Distributors and Retailers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policy actors and consumers.
By Final Use
TDI (Toluene diisocyanate)
Chemicals & Allied Industries
By Industry Type
Sports & Entertainment
Key Market Players
Eurochem Group (Switzerland)
BASF SE (Germany)
The Chemours Company (US)
Nutrien Ltd. (Canada)
Dyno Nobel (US)
Yara International (Canada)
Sumitomo Chemical Co., Ltd. (Japan)
(A brief overview of another 13 companies is also provided)
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