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Global Nitric Acid Market size was valued at USD 22.94 Bn in 2022 and is expected to reach USD 29.78 Bn by 2029, at a CAGR of 3.8% over the forecast period.
Nitric Acid Market Overview:
The goal of this research is to give a comprehensive analysis of the Nitric Acid market Size by component, application, industry, and geography. The paper goes into great detail on the major variables impacting the growth of the Nitric Acid market Growth. The report also provides a thorough examination of the market's value chain.
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Market Scope:
The "Global Nitric Acid Market Analysis" is a detailed investigation of the Nitric Acid market Share, with a focus on global market trends and analysis. The goal of this research is to provide an overview of the Nitric Acid market as well as detailed market segmentation based on connection type, end-use, and geography. The Nitric Acid market is expected to grow substantially over the forecast period. The study contains critical information on the market positions of the leading Nitric Acid Industry players, as well as noteworthy industry trends and opportunities.
Secondary research is used to examine and forecast the Nitric Acid market Share, and it begins with sources that gather revenue data from important suppliers. When estimating market segmentation, vendor offerings are also taken into account. Using the income of key firms, the whole size of the Nitric Acid market Size was determined using the bottom-up technique.
Segmentation:
The market is divided into five applications: fertilisers, explosives, chemicals, metals, and mining. The fertilisers category led the market in 2022 and is predicted to do so again throughout the forecast period. Nitrogen fertilisers are made from nitric acid. These fertilisers supply crops with nitrogen nutrients, encouraging crop growth and increasing agricultural production. Rising food demand helps to keep the need for nitrogen fertilisers stable. The demand for nitric acid in the fertilisers segment is driven by crop cultivation and consumption patterns, and it contributes significantly to the segment's growth in the Nitric Acid market.
The market is divided into two categories based on concentration: dilute nitric acid and concentrated nitric acid. The concentrated Nitric Acid segment dominated the market in 2022 and is likely to do so again throughout the forecast period. Nitric acid in high concentration is utilised in applications that demand its strong oxidising and acidic qualities. These applications frequently need a higher level of attention to get the intended results. The section is used in the semiconductor and electronics industries for cleaning and etching procedures.
Nitric Acid Market Size and Forecast, by Application (2022-2029)
Fertilizers
Explosives
Chemicals
Metals and Mining
Others
Nitric Acid Market Size and Forecast, by Concentration (2022-2029)
Dilute Nitric Acid
Concentrated Nitric Acid
Nitric Acid Market Size and Forecast, by End-User Industry (2022-2029)
Agriculture
Mining and Metallurgy
Pharmaceuticals
Nitric Acid Market Size and Forecast, by Region (2022-2029)
North America
Europe
Asia Pacific
Middle East and Africa
South America
- Global Nitric Acid Market: Research Methodology
- Global Nitric Acid Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Nitric Acid Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Nitric Acid Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Nitric Acid Market Segmentation
- Global Nitric Acid Market, by Type (2023-2029)
- Global Nitric Acid Market, by Product (2023-2029)
- Global Nitric Acid Market, by Application (2023-2029)
- Regional Nitric Acid Market(2023-2029)
- Regional Nitric Acid Market, by Type (2023-2029)
- Regional Nitric Acid Market, by Product (2023-2029)
- Regional Nitric Acid Market, by Application (2023-2029)
- Regional Nitric Acid Market, by Country (2023-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Players:
The major players covered in the Nitric Acid market report are:
1. Yara International ASA
2. CF Industries Holdings, Inc.
3. LSB Industries, Inc
4. The Chemical Company
5. Trammo, Inc
6. Hawkins
7. Casale SA
8. Northstar Chemical
9. Chemical Factory Kalk GmbH
10. The Essential Chemical Industry
11. Univar Solutions Inc
12. Stamicarbon
13. Radici Partecipazioni SpA
14. Sinochem Holdings
15. FarmHannong
16. Fatima Group
17. FERTILIZERS EUROPE
18. Alleima
19. Synthesia, a.s.
20. Kakdiya Chemicals
21. Central Drug House
22. Groupe Somavrac
Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Nitric Acid Market:
The COVID-19 outbreak has affected industries such as aerospace and defence, agriculture, autos, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. COVID-19 has had an influence on the Nitric Acid market as a whole, as well as the growth rate in 2019-2020 as the impact of COVID-19 spreads. Our most recent investigation, viewpoints, and pieces of administration expertise are vital to the firms and associations in the Nitric Acid sector, which is driving through the COVID-19 emergency to handle risk digitizing tasks in order to communicate trustworthy data and experiences to CEOs.
Key Questions Answered in the Nitric Acid Market Report are:
- Which segment grabbed the largest share in the Nitric Acid market?
- What is the competitive scenario of the Nitric Acid market in 2023?
- Which are the key factors responsible for the Nitric Acid market growth?
- Which region held the maximum share in the Nitric Acid market in 2023?
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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The global nitric acid market size is projected to reach USD 31.1 billion by 2027, according to a new report by Radiant Insights, Inc., registering a CAGR of 3.3% over the forecast period.
Government regulations to curb carbon emission have paved the way for the use of nylon to produce plastics and fabrics as a replacement to heavy alternatives, thereby reducing fuel consumption and simultaneously decreasing emission levels.
Download Free Sample Report @ https://www.radiantinsights.com/research/nitric-acid-market/request-sample Furthermore, one of the most important applications of nitric acid is fertilizer composition.
Moreover, urea ammonium nitrate is derived from the chemical and finds application in formulating explosives and fertilizers.
Major countries of the Asia Pacific region are agrarian economies, which subsequently leads to a high product demand for fertilizer manufacturing across countries such as India, Indonesia, and Thailand.
Therefore, the implementation of strict laws against the usage of synthetic chemical products for farming is likely to decrease the demand for nitric acid in the agricultural sector.
The global nitric acid market is slated to experience an increased demand from several end-use industries across the globe.
Moreover, the market players are also expected to enhance their distribution facilities in order to establish their relevance for the consumers.
The leading market players include Yara, The Chemours Company, Potash Corp, BASF SE, Eurochem Group, OCI Nitrogen, Dyno Nobel, CF Industries, and Sumitomo Chemical Co., Ltd.A report by Transparency Market Research (TMR) gives a holistic view on the fettle of the market and forecasts its growth trajectory over the period from 2017 to 2022.
The market was valued at US$16,839.5 Mn in 2017 and is expected to touch a figure of US$20,420.8 Mn by the end of 2022.
Amongst the regional markets, the European region is expected to garner an opportunity worth US$11,636.1 Mn in the market by the end of 2022.Request Sample pages of premium Research Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=5126Popularity of Dyes and Perfumes Propels GrowthThe usage of nitric acid in the manufacture of explosives, organic and inorganic compounds, nylons, adipic acid, nitrobenzene, and toluene diisocyanate has spurred the popularity of the chemical.
The review is based on a report titled ‘Nitric Acid Market - (End Use - Fertilizers, Nitrobenzene, Toluene Di Isocyanate (TDI), Adipic Acid, and Metal Processing; Application - Chemicals & Allied Industries and Metallurgical Industries) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022’Key TakeawaysLaboratory usage has been a key factor driving demand within the global marketSeveral emerging chemical industries push growth within the Asia Pacific market.About UsTransparency Market Research (TMR) is a market intelligence company, providing global business information reports and services.
