Concentrated Nitric Acid Market by Type, Grade, Concentration, Application, End-Use

Description

List of Tables

[195 Pages Report] The Concentrated Nitric Acid Market size was estimated at USD 22.32 billion in 2023 and expected to reach USD 23.28 billion in 2024, at a CAGR 4.41% to reach USD 30.20 billion by 2030.

Concentrated nitric acid is a highly corrosive mineral acid known chemically as HNO3. Its concentrated form typically contains 68% to 71% weight of nitric acid, exhibiting distinct physical properties such as a colorless or slightly yellow appearance and the release of fumes on exposure to air. A pungent smell characterizes this potent acid, and it has the capability to react with multiple organic and inorganic compounds, making it a valuable reagent in various chemical processes. The rising global food demand necessitates higher crop yields, directly translating to increased demand for fertilizers and, consequently, for concentrated nitric acid. Additionally, with growing security concerns globally, the demand for explosives for defense purposes remains a significant market driver. However, the production and handling of concentrated nitric acid pose significant environmental and health risks, necessitating strict regulations and safety protocols. Furthermore, the development of sustainable and less energy-intensive manufacturing processes for nitric acid poses significant opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 22.32 billion
Estimated Year [2024]	USD 23.28 billion
Forecast Year [2030]	USD 30.20 billion
CAGR (%)	4.41%

Type: Increasing utilization of fuming nitric acid in the production of explosives and rocket propellants

Fuming nitric acid, known for its high concentration of nitrogen dioxide, is classified into two subcategories: red-fuming nitric acid (RFNA) and white-fuming nitric acid (WFNA). RFNA contains more nitrogen dioxide, giving it a red-brown color. In contrast, WFNA has a lower nitrogen dioxide content, appearing almost colorless. Fuming nitric acid is predominantly used in the production of explosives and as rocket propellants due to its highly reactive and oxidizing properties. Strong nitric acid, with a concentration exceeding 85%, is utilized across a broad spectrum of industrial applications. Its versatility and relatively safer handling compared to fuming types make it a preferred choice for many industries. Strong nitric acid finds extensive use in manufacturing fertilizers, particularly ammonium nitrate, given its high nitrogen content.

End-Use: Emerging applications of concentrated nitric acid in manufacturing explosives

Nitric acid plays a pivotal role in the agrochemical industry, primarily in the production of fertilizers such as ammonium nitrate. The demand within this segment is driven by the need to increase agricultural yield to support a growing global population. Within the automotive sector, concentrated nitric acid finds applications mainly in the passivation of stainless steel components to prevent corrosion. Additionally, it is utilized in the production of specialty nylon resins for automotive components. The segment's preference leans towards high-purity nitric acid for ensuring the longevity and durability of automotive parts. The electronics industry utilizes concentrated nitric acid in the etching and cleaning of semiconductor wafers. This segment highly prioritizes ultra-high purity nitric acid to prevent contamination and ensure optimal device performance. Concentrated nitric acid is a critical component in the manufacture of explosives, where it's used to produce nitroglycerin and ammonium nitrate-based explosives. The demand in this segment is closely linked to the defense sector and mining activities.

Regional Insights

In the Americas, the United States and Canada are key regions in the concentrated nitric acid market. The United States leads, with its diverse industrial applications ranging from the manufacturing of ammonium nitrate for fertilizers to the production of polyurethane foams. Canada, though smaller in market size, showcases a robust demand tied to its mining and metal processing industries. European Union countries exhibit a mature market for concentrated nitric acid, with demand closely linked to the automotive, aerospace, and electronics sectors. The emphasis is on advanced manufacturing techniques and high-quality standards. Initiatives towards cleaner production methods and circular economy principles are evident, aligning with EU environmental policies. The Middle East, while having a smaller industrial base, shows growing interest in nitric acid for petrochemical and water treatment applications, driven by infrastructural developments. The APAC region, primarily led by China, India, and Japan, is the largest consumer of concentrated nitric acid. The demand is driven by rapid industrial growth, particularly in fertilizer, chemical, and explosives manufacturing sectors. The APAC region, with its expansive industrial base, stands as a significant consumer and producer, focusing heavily on agricultural chemicals to meet the demands of its vast agricultural sector.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Concentrated Nitric Acid Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Concentrated Nitric Acid Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Concentrated Nitric Acid Market, highlighting leading vendors and their innovative profiles. These include Akzo Nobel N.V., Anjanee Chemical Industries, BASF SE, CF Industries Holdings, Inc., Columbus Chemical Industries, Deepak Fertilisers and Petrochemicals Corporation Ltd., Grupa Azoty SA, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Hanwha Corporation, JSS "MAXAM-CHIRCHIQ", Junsei Chemical Co.,Ltd., KBR Inc., LSB Industries Inc., Merck KGaA, Northstar Chemical, Inc., OCI N.V., Orica Limited, RX Chemicals, Sasol Limited, Seya Industries Ltd., UBE Corporation, and Yara International ASA.

Market Segmentation & Coverage

This research report categorizes the Concentrated Nitric Acid Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Fuming
- Strong

Grade
- ACS Grade
- Reagent Grade
- Technical Grade

Concentration
- 68% to 85%
- 86% to 94%
- 95% & Above 95%

Application
- Adipic Acid
- Nitrobenzene
- Nitrochlorobenzene
- Toulene Di-isocynate

End-Use
- Agrochemicals
- Automotive
- Electronics
- Explosives

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Concentrated Nitric Acid Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Concentrated Nitric Acid Market?

3. What are the technology trends and regulatory frameworks in the Concentrated Nitric Acid Market?

4. What is the market share of the leading vendors in the Concentrated Nitric Acid Market?

5. Which modes and strategic moves are suitable for entering the Concentrated Nitric Acid Market?

Product Code: MRR-6C4AB66BF61D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand in the agrochemical industry
  - 5.1.1.2. Developments in the explosives and polyurethane industry
- 5.1.2. Restraints
  - 5.1.2.1. Manufacturing complexity of concentrated nitric acid
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in the production of concentrated nitric acid
  - 5.1.3.2. Emerging research of concentrated nitric acid in the pharmaceutical industry
- 5.1.4. Challenges
  - 5.1.4.1. Environmental and regulatory constraints of concentrated nitric acid
5.2. Market Segmentation Analysis
- 5.2.1. Type: Increasing utilization of fuming nitric acid in the production of explosives and rocket propellants
- 5.2.2. End-Use: Emerging applications of concentrated nitric acid in manufacturing explosives
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Concentrated Nitric Acid Market, by Type

6.1. Introduction
6.2. Fuming
6.3. Strong

7. Concentrated Nitric Acid Market, by Grade

7.1. Introduction
7.2. ACS Grade
7.3. Reagent Grade
7.4. Technical Grade

8. Concentrated Nitric Acid Market, by Concentration

8.1. Introduction
8.2. 68% to 85%
8.3. 86% to 94%
8.4. 95% & Above 95%

9. Concentrated Nitric Acid Market, by Application

9.1. Introduction
9.2. Adipic Acid
9.3. Nitrobenzene
9.4. Nitrochlorobenzene
9.5. Toulene Di-isocynate

10. Concentrated Nitric Acid Market, by End-Use

10.1. Introduction
10.2. Agrochemicals
10.3. Automotive
10.4. Electronics
10.5. Explosives

11. Americas Concentrated Nitric Acid Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Concentrated Nitric Acid Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Concentrated Nitric Acid Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. KBR's MAGNAC High-Concentration Nitric Acid Technology Successfully Commissioned at GNFC's Facility
- 14.3.2. Deepak Fertilisers announces nitric acid brownfield expansion
- 14.3.3. Grupa Azoty launches concentrated nitric acid plant
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio