Concentrated Nitric Acid Market Report: Trends, Forecast and Competitive Analysis to 2030

Concentrated Nitric Acid Trends and Forecast

The future of the global concentrated nitric acid market looks promising with opportunities in the agrochemical, explosives, automotive, and electronics markets. The global concentrated nitric acid market is expected to reach an estimated $22.1 billion by 2030 with a CAGR of 2.6% from 2024 to 2030. The major drivers for this market are growing usage of polyurethane foam, synthetic rubber, and elastomers in the automobile industry, increasing need for ammonium nitrate, and growing use in the chemical and aerospace sectors.

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Concentrated Nitric Acid by Segment

The study includes a forecast for the global concentrated nitric acid by type, application, end use industry, and region.

Concentrated Nitric Acid Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Strong Nitric Acid
• Fuming Nitric Acid

Concentrated Nitric Acid Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Ammonium Nitrate
• Adipic Acid
• Nitrobenzene
• Toluene Diisocyanate
• Others

Concentrated Nitric Acid Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Agrochemicals
• Explosives
• Automotive
• Electronics
• Others

Concentrated Nitric Acid Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Concentrated Nitric Acid Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies concentrated nitric acid companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the concentrated nitric acid companies profiled in this report include-

• Agrium
• Deepak Fertilisers & Petrochemicals
• Hanwha
• Koch Fertilizers
• LSB Industries
• National Chemical Group
• OCI
• Shandong Fengyuan Chemical Stock
• Ube Industries
• Yara International

Concentrated Nitric Acid Market Insights

Lucintel forecasts that ammonium nitrate will remain the largest segment over the forecast period due to wide application in fertilizers and explosives.

Within this market, agrochemicals will remain the largest segment due to growing demand for nitrogen fertilizers from the emerging countries such as China, India, and Brazil.

APAC is expected to witness highest growth over the forecast period due to the presence of the regional manufacturers of concentrated nitric acid, such as hanwhacorporation, shandong fengyuan chemical stock, and ube industries in the region..

Features of the Global Concentrated Nitric Acid Market

Market Size Estimates: Concentrated nitric acid market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Concentrated nitric acid market size by type, application, end use industry, and region in terms of value ($B).

Regional Analysis: Concentrated nitric acid market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, end use industry, and regions for the concentrated nitric acid market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the concentrated nitric acid market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the concentrated nitric acid market size?

Answer: The global concentrated nitric acid market is expected to reach an estimated $22.1 billion by 2030.

Q2. What is the growth forecast for concentrated nitric acid market?

Answer: The global concentrated nitric acid market is expected to grow with a CAGR of 2.6% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the concentrated nitric acid market?

Answer: The major drivers for this market are growing usage of polyurethane foam, synthetic rubber, and elastomers in the automobile industry, increasing need for ammonium nitrate, and growing use in the chemical and aerospace sectors.

Q4. What are the major segments for concentrated nitric acid market?

Answer: The future of the concentrated nitric acid market looks promising with opportunities in the agrochemical, explosives, automotive, and electronics markets.

Q5. Who are the key concentrated nitric acid market companies?

Answer: Some of the key concentrated nitric acid companies are as follows.

• Agrium
• Deepak Fertilisers & Petrochemicals
• Hanwha
• Koch Fertilizers
• LSB Industries
• National Chemical Group
• OCI
• Shandong Fengyuan Chemical Stock
• Ube Industries
• Yara International

Q6. Which concentrated nitric acid market segment will be the largest in future?

Answer: Lucintel forecasts that ammonium nitrate will remain the largest segment over the forecast period due to wide application in fertilizers and explosives.

Q7. In concentrated nitric acid market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to the presence of the regional manufacturers of concentrated nitric acid, such as hanwhacorporation, shandong fengyuan chemical stock, and ube industries in the region..

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the concentrated nitric acid market by type (strong nitric acid and fuming nitric acid), application (ammonium nitrate, adipic acid, nitrobenzene, toluene diisocyanate, and others), end use industry (agrochemicals, explosives, automotive, electronics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?