In 2023, Germany led as the top importer of nitric acid ($33.4M), followed by Belgium ($31.19M) and Malaysia ($24.16M). France and China notably imported $22.12M and $12.16M, respectively. Over the past two years, Germany's imports showed a stable increase, while France experienced a moderate growth. China's imports slightly declined, reflecting a trend shift. The Netherlands, Japan, and the U.S. remain consistent with minor variations, while Denmark displays potential for growth. The five-year CAGR indicates Germany and Belgium grow steadily amid industrial demand.
Future trends to watch include:
- Increasing automotive and defense sectors driving EU and U.S. imports.
- Potential Asian market expansion due to manufacturing boom in ASEAN countries.
- Environmental regulations affecting production and import dynamics.
- Technological advancements influencing synthetic ammonia demand.
Top countries in Top Importers of Nitric Acid
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Germany | 33.4 | 2016 | |
| 2 | 2 Belgium | 31.19 | 2016 | |
| 3 | 3 Malaysia | 24.16 | 2016 | |
| 4 | 4 France | 22.12 | 2016 | |
| 5 | 5 China | 12.16 | 2016 | |
| 6 | 6 Spain | 9.78 | 2016 | |
| 7 | 7 Netherlands | 8.3 | 2016 | |
| 8 | 8 Japan | 8.1 | 2016 | |
| 9 | 9 United States | 7.88 | 2016 | |
| 10 | 10 Denmark | 7.88 | 2016 |
