1. Market Research
  2. > Materials
  3. > Chemicals Market Trends
Nitric Acid Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecasts, 2020 - 2027

Nitric Acid Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecasts, 2020 - 2027

  • March 2020
  • 104 pages
  • ID: 5879575
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

Nitric Acid Market Size, Share & Trends Analysis Report By Application (Fertilizers, Adipic Acid, Nitrobenzene, Toluene Di-isocyanate, Nitrochlorobenzene), By Region, And Segment Forecasts, 2020 - 2027

The global nitric acid market size is projected to reach USD 31.1 billion by 2027., registering a CAGR of 3.3% over the forecast period. Rising demand for nylon products from the automotive, construction, and textile industries is projected to be the key factor boosting market growth.

Adipic acid formulation is one of the key applications of nitric acid; it is widely used to formulate nylon resins and fibers in the automotive industry.The developing automotive sector demands constant innovation such as high-end component designing and lightweight materials to effectively enhance performance and fuel efficiency.

These factors create a positive impact on nitric acid production globally. 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.

Furthermore, one of the most important applications of nitric acid is fertilizer composition.Calcium ammonium nitrate and ammonium nitrate are the two key fertilizers derived from nitric acid which are extensively utilized in the agricultural sector.

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.

However, stringent regulations against excessive use of ammonium nitrate fertilizers owing to environmental degradation are likely to create a negative impact on the nitric acid market in developed economies of North America and Western Europe.In the past decade, excessive use of these agrochemicals has resulted in the depletion of nitrogen levels in groundwater reserves and has also resulted in lower nutrient content of the soil.

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.

Nitric acid is widely used in the manufacturing of organic chemicals such as the production of nitrate salts, coal tars, catalyst, dyes, and reprocessing of used nuclear fuels. It is also used in the purification of precious metals such as gold, platinum, and silver.

Further key findings from the report suggest:
• The global nitric acid market is anticipated to register a CAGR of 1.6% from 2020 to 2027 in terms of volume, owing to the rising demand for fertilizers to increase agricultural product output
• Europe accounted for a significant market share of 55.2% in 2019 in terms of volume due to extensive agricultural activities in France, Germany, and U.K.Multiple concerns have been raised in the region in terms of environmental impact and sustainability, which played a key role in stabilizing agricultural production through technological advancements
• North America is projected to register a significant growth rate over the forecast period owing to the presence of numerous multinational chemical manufacturers in the region
• Companies such as CF Industries and Yara International are among the top industry players due to constant innovations and strategic alliances formed by the companies to sustain in the global ecosystem.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Potassium Chloride Markets in China

  • $ 4000
  • May 2020
  • 183 pages

China’s demand for Potassium Chloride has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed ...

Global Nitric Acid Industry $ 4950 July 2020

Butanol Markets in China $ 4000 June 2020


ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on