Global Concentrated Nitric Acid
Market Report
2024
The global concentrated nitric acid market size is USD 27.45 billion in 2024. The concentrated nitric acid market will show the strongest growth with a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. This growth can be attributed to Growing fertilizer needs due to rising crop production requirements.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global concentrated nitric acid market size will be USD 27.45 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Concentrated Nitric Acid Market Sales Revenue 2024 | $ 27.45 Billion |
Global Concentrated Nitric Acid Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
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Market Restrains:
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Market Split by Type |
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Market Split by Application |
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Market Split by End-Use Industry |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Concentrated Nitric Acid Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Concentrated nitric acid is an inorganic chemical having the molecular formula HNO3. It is an extremely corrosive mineral acid. Concentrated nitric acid is a colorless chemical, but older samples turn yellow due to the breakdown of nitrogen oxides. The majority of commercially available concentrated nitric acid concentrations range from 68% to 71%. When the nitric acid solution contains more than 86% HNO3, it is known as fuming nitric acid. The expanding fertilizer demand, combined with increased agricultural productivity requirements, is predicted to fuel the expansion of concentrated nitric acid. Furthermore, the defense and military industries' increasing demand for ammonium nitrate, which is frequently used in explosives, is boosting the nitric acid market. Over the forecast period, the "strong nitric acid (concentration 50-85%)" type segment is expected to increase the most due to different uses such as the manufacturing of nitrobenzene, nitro chlorobenzene, ammonium nitrate, adipic acid, toluene diisocyanate (TDI), and trinitrotoluene. Furthermore, the nitric acid market is providing more lucrative prospects for leading industry participants as nitric acid is increasingly used as an oxidizer in rocket propellants for space adventures.
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In January 2023, Grupa Azoty SA (Tarnów, Poland) opened a new plant for the manufacturing of concentrated nitric acid, with a design output of 40,000 metric tons per year (m.t./yr), doubling its current capacity. Tarnów now has a second production line for nitric acid with a concentration greater than 98%. It increased the Tarnów plant's overall yearly capacity for that commodity to 80,000 tons.
Top Companies Market Share in Concentrated Nitric Acid Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerged as the dominant region in the concentrated nitric acid market due to the growing number of applications in the automotive industry, shifting consumer preferences, and rising disposable money in this area.
Asia-Pacific stands out as the fastest-growing region in the Concentrated Nitric Acid market due to per capita income has risen as a result of growing industrialization and urbanization, as well as increased investment in smart and efficient technology, with India, China, and Japan making the most significant contributions.
The current report Scope analyzes Concentrated Nitric Acid Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Concentrated Nitric Acid Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Concentrated Nitric Acid Industry growth. Concentrated Nitric Acid market has been segmented with the help of its Type, Application End-Use Industry, and others. Concentrated Nitric Acid market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, strong nitric acid is the dominant category. It is used to manufacture a variety of chemicals, including ammonium nitrate, adipic acid, nitrobenzene, nitrochlorobenzene, toluene diisocyanate (TDI), and trinitrotoluene (TNT). Strong nitric acid, a class-2 oxidant, tends to accelerate the combustion of materials with which it comes into contact. This property is utilized in the production of secondary explosives.
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Chemical and materials are one of the most important industries for other sectors including automotive, pharmaceutical, personal care, consumer goods and others. The demand for high quality and environment friendly products is increasing in various end-use sectors. Thus, key manufacturers are focusing on technological advancement in production of high-quality chemicals. The segment analysis will help to understand which is the most attractive application/end use sector. It also provides the year on year (Y-O-Y) growth rate for each segment. Moreover, this study includes the detailed analysis of each segment to understand the key positive and negative factors which are impacting the growth of the Concentrated Nitric Acid Market.
Some of the key Application of Concentrated Nitric Acid are:
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Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Concentrated Nitric Acid Market is witnessing significant growth in the near future.
In 2023, the Strong Nitric Acid segment accounted for noticeable share of global Concentrated Nitric Acid Market and is projected to experience significant growth in the near future.
The Ammonium Nitrate segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Agrium Inc.(Canada) , Deepak Fertilisers and Petrochemicals Corp. Ltd. (India) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
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Type | Strong Nitric Acid, Fuming Nitric Acid |
Application | Ammonium Nitrate, Adipic Acid, Nitrobenzene, Toluene Diisocyanate, Others |
End-Use Industry | Agrochemicals, Explosives, Automotive, Electronics, Others |
List of Competitors | Agrium Inc.(Canada), CF Industries (US), Deepak Fertilisers and Petrochemicals Corp. Ltd. (India), Hanwha Corporation (South Korea), Koch Fertilizers LLC (US), LSB Industries Inc. (U.S.), National Chemical Group (Russia), OCI N.V. (Netherlands), Shandong Fengyuan Chemical Stock Co. Ltd. (China), Ube Industries (Japan), Yara International (Norway). |
This chapter will help you gain GLOBAL Market Analysis of Concentrated Nitric Acid. Further deep in this chapter, you will be able to review Global Concentrated Nitric Acid Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End-Use Industry Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Concentrated Nitric Acid market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Strong Nitric Acid have a significant impact on Concentrated Nitric Acid market? |
What are the key factors affecting the Strong Nitric Acid and Fuming Nitric Acid of Concentrated Nitric Acid Market? |
What is the CAGR/Growth Rate of Ammonium Nitrate during the forecast period? |
By type, which segment accounted for largest share of the global Concentrated Nitric Acid Market? |
Which region is expected to dominate the global Concentrated Nitric Acid Market within the forecast period? |
Segmentation Level Customization |
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