Global Nitric Acid Market by Application (Nitrochlorobenzene, Nitrobenzene, Fertilizers, Toluene Di-isocyanate, Adipic Acid) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global nitric acids market was worth USD 24.0 billion in 2019. It is expected to grow at 3.3% CAGR between 2020 and 2027. A key market driver is the increasing demand for adipic acids to make nylon resins and fibres for automotive interior manufacturing. It is used extensively in the automotive industry worldwide as a precursor to nylon 6,6.

Adipic acid is one of the most important uses of nitric acids. Automobile manufacturers use adipic acid to make nylon. The automotive industry uses nylon products as a replacement for heavy metal parts. A lower vehicle weight means more fuel economy and less carbon emissions. Automobile manufacturers are increasingly using lightweight materials due to growing environmental concerns. Over the forecast period, this is expected to increase the demand for nylon 6, 6.

American automotive manufacturers are using more polymer matrix composites for fuel economy and compliance with Corporate Average Fuel Economy (CAFE). These standards are used by automobile manufacturers to set minimum fuel efficiency for various makes and models. Due to technological advances and the presence in each country of many vehicle manufacturing companies, the U.S. and Japan dominated global lightweight automotive materials markets.

The growing use of polyurethane foams is driving the market for nitric acids. Toluene diisocyanate (TDI), a nitric acids intermediate, is used to manufacture elastomers and polyurethane foams, floor and wooden coatings and finishes as well as foam plastics, lacquers and insulation materials. It is also used to make polyurethane foam-coated fabrics and polyurethane foam plastics. Flexible foams make up 85.0% of total TDI consumption. The rest is used to produce other polyurethane products such as adhesives, sealants and coatings. The demand for nitric acids worldwide will be positively impacted by the expected increase in polyurethane consumption among end-use industries like furniture, construction, and automotive.

The oxidation method of ammonia is a traditional way to make nitric acid. To extract the product, ammonia is combined with water and a catalyst by being oxidized with oxygen. To extract nitric acids in solution form, the product is oxidized with excess oxygen. The key raw material for the manufacture of nitric acids is ammonia. Because of large natural gas reserves, ammonia production is concentrated in China, India and Russia. There are many grades of the chemical, including a commercial version that contains 68% nitrogen dioxide. Numerous nitric acid producers have been established around the world due to their easy accessibility.

Application Insights

Around 80.0% of the nitric acids is used to make fertilizers on a global basis, such as ammonium, calcium, ammonium, nitrate and potassium nitrate. A portion of nitric acid can be used to produce urea-based ammonium nitrate and other fertilizers. Over the last few years, there has been a large demand for nitrogen fertilizers made from ammonium-nitrate. This drives the overall market.

Adipic acid, another important application of nitric acids, is also available. It is widely used to make nylon fibers and resins. The polymer composite is used to manufacture vehicle components and replace heavy metal parts by automakers around the world. The increasing use of composites in automobiles will drive adipic acids consumption and impact the growth of the nitric Acid market.

Due to the growing popularity of polymer compounds in the U.S., and the importance of lightweight materials and fuel economy, the demand for is expected to increase. The U.S. market is expected to grow at a significant rate during the forecast period for nitric acids.

The precursor to aniline, nitrobenzene is an important application of nitric acids. The product is used in the production of pharmaceutical products, and aramid fiber, as well as polyurethane foams. The forecast period will see an increase in the use of these products in the construction and automobile industries. In the next few years, the strong manufacturing base of aniline in China will increase the demand for nitric acids in nitrobenzene formulations.

Regional Insights

Due to the large number of American multinational chemical companies, the North America market will experience significant growth during the forecast period. Due to rapid growth in industries like construction, automobile, and furniture, the nitric acid market will continue to experience high growth. These industries need high-quality nitrogen to make fertilizers and nylon. The market has seen an increase in demand for ammonium-nitrate from the mining sector to make explosives. This, in turn, has driven the overall market growth.

Germany is home to some of the most important automobile manufacturers in the world. Volkswagen, BMW and Daimler AG are the key companies. Adam Opel and Ford-Werke GmbH are also important. This led to a high demand for nylon products in automobile interiors and component production in the country. In 2020, however, the industry saw a record low of 4.7 million vehicles. The reason for this was the increasing trade tensions between China and America, which had an impact on foreign markets and resulted in low sales.

The largest producers of Nitric Acid are in Central and Eastern Europe, which is driving demand for the product. The European market will be driven by the expanding chemical market in Russia and Poland. Russia is a major exporter of arms, and thus sees high demand for ammonium Nitrate. This positively impacts the market growth. The market is expected to benefit from a strong manufacturing base in Russia for fertilizers due to the availability of raw materials like ammonia.

In 2014, India's government also declared Draft National Chemical Policy. This policy aims to increase India's share in its GDP by increasing the percentage of chemical sector from 3% to 6% by 2020. This regulatory initiative is expected promote the production and use of chemicals like nitrobenzene, TDI and adipic acids, which will drive the Asia Pacific market during the forecast period. The demand for nitric acids will also be driven by the Indian fertilizer market growth due to regulatory support that aims at increasing the production of urea, and other agrochemicals.

Market Share Insights & Key Companies

Over 90% of the world's nitric acid is consumed on-site. The merchant portion of 10% has little effect on overall trade. CF Industries and Yara International, the world's largest fertilizer manufacturers, are the main consumers of the product used in the formulation of fertilizers. The market share for top international players is more than 35.0%. CF Industries owns four nitric acids production plants in Donaldsonville in Louisiana. This is the largest nitrogen fertilizer production facility in the world. It also owns two production houses in Port Neal (Iowa) and two more in Verdigris, Woodward, Oklahoma.

Market Report on Nitric Acid Scope

The Report Covers Certain Segments

This report forecasts revenue growth and volume at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2016-2027. Grand View Research has divided the global nitric acids market report by application and region.

• Application Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)

  • Fertilizers

    • Ammonium Nitrate

    • Calcium Ammonium Nitrate

    • Other

  • Adipic Acid

  • Nitrobenzene

  • Toluene di-isocyanate

  • Nitrochlorobenzene

  • Other

• Regional Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Russia

    • France

    • Poland

    • Ukraine

  • Asia Pacific

    • China

    • Uzbekistan

    • Kazakhstan

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Egypt

These are the most frequently asked questions about this report

b. Global nitric acid market was valued at USD 24.0 billion in 2019, and is projected to grow to USD 24.7 billion by 2020.

b. The global nitric acids market will grow at a compound annual rate of 3.3% between 2019 and 2027, reaching USD 31.1 billion in 2027.

b. With a 43.4% share in 2019, Europe was the dominant market for nitric acids. This can be attributed to the strong manufacturing base of fertilizers in countries such as Russia and ample availability of raw materials like ammonia.

b. DuPont, BASF and Dow are some of the key players in the nitric acids market.

b. The market for nitric acids is growing due to rising demand for adipic in light automotive materials and the increasing use of polyurethane foam.

b. In 2019, the global average selling price for nitric acid was USD 0.35/kg.

Up Market Research published a new report titled “Nitric Acid Market research report which is segmented by Application (Nitrochlorobenzene, Nitrobenzene, Fertilizers, Toluene Di-isocyanate, Adipic Acid), By Players/Companies Angus Chemical Company, Sasol, Dow, Nutrien, Apache Nitrogen Products Inc, Omnia Holdings, CF Industries, BASF, Dyno Nobel, Enaex SA, DuPont, J R Simplot”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Nitric Acid Market Report Segments:

The market is segmented by Application (Nitrochlorobenzene, Nitrobenzene, Fertilizers, Toluene Di-isocyanate, Adipic Acid).

Nitric Acid Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Nitric Acid Market

Overview of the regional outlook of the Nitric Acid Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Nitric Acid Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Nitric Acid Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Nitrochlorobenzene

                2. Nitrobenzene

                3. Fertilizers

                4. Toluene Di-isocyanate

                5. Adipic Acid

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Nitric Acid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Nitric Acid Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.