The global Concentrated Nitric Acid Market was valued at USD XX million in 2017. Research at DMI pegged the market forecast valuation at USD xx million by 2025 and estimated concentrated nitric acid size to grow at a CAGR of xx% during the forecast period 2018-2025
Concentrated nitric acid (HNO3) is primarily used in Automotive, Agrochemicals, Electronics, and Defence. In rocket propellants and dyes, intermediate concentrated nitric acid also acts as an oxidizer. Concentrated nitric acids are majorly applicable and are used in defense and agrochemicals. One of the most significant applications of concentrated nitric acid is the ammonium nitrate. Ammonium nitrate can be used as intermediate for other fertilizers such as calcium ammonium nitrate fertilizer and urea ammonium nitrate or directly as a fertilizer.
Concentrated nitric acid is also used in manufacturing a variety of applications such as Ammonium Nitrate, Toulene di-isocyanate, Fertilizers, Adipic acid, and Other. More than 70% of the concentrated nitric acid is used in the production of ammonium nitrate. It is also used as intermediates for agrochemicals.
Moreover, the growing use of concentrated nitric acid in the purification of metals and the manufacturing of drugs are notable trends expected to unlock exciting opportunities for market players in the coming years.
On Basis of Application:
On the basis of Application, the global concentrated nitric acid is segmented into Ammonium Nitrate, Toulene di-isocyanate, Fertilizers, Adipic acid, and Other. Among all, Fertilizer is expected to witness the highest demand and fastest growth during this forecast period. This is because of Agriculture growth in India, China, and Brazil on account of rising food demand coupled with favorable government support is likely to upsurge the need for fertilizers. Therefore, the reasons above are some of the key driving factors which may fuel the demand over the forecast period.
In addition, Electronics segment will foresee substantial growth owing to the huge domestic demand for the products that are attributed to the multitude of factors, including growth in the middle class and rising disposable incomes., the demand for concentrated nitric acid will also increase which will trigger the growth of the global concentrated nitric acid market.
On Basis of End-use:
On the basis of End-use, the global concentrated nitric acid is segmented into Automotive, Agrochemicals, Electronics, and Defence. Among all the other, the agrochemicals sector is expected to dominate the concentrated nitric acid market over the forecast period. Owing to the rising global population has led to an increasing demand for food grains. Therefore, the demand for agrochemicals has increased significantly to increase the yield of farming, which in turn will increase demand for concentrated nitric acid. Thus, this segment is projected to grow at the higher CAGR and is expected to maintain its dominance over the forecast period.
Geographically, the global concentrated nitric acid market has been segmented into North America, Europe, Asia-pacific, MEMA. Among all the regions, Europe is expected to witness the highest demand and fastest growth during this forecast period. This is because increasing demand for concentrated nitric acid and its applications from various end-use industries, such as agrochemicals, explosives, and automotive is expected to drive the growth of the concentrated nitric acid market.
The global concentrated nitric acid marketplace is moderately consolidated with the presence of few companies holding a significant market share. Some of the major companies for the concentrated nitric acid market are CF Industries Holdings, Inc. Agrium, National Chemical Group, Yara International, Hanwha Corporation, Koch Fertilizers, LSB Industries, Shandong Feng yuan Chemical Stock, Ube Industries, and Linde Group.
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Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Scope of the Report
Chapter 2 Global Concentrated Nitric Acid Market – Trends
2.1 Key Trends & Developments
Chapter 3 Global Concentrated Nitric Acid Market – Industry Analysis
3.1 Industry Impact Factors (Drivers & Restraints)
3.2 Competitive Intensity- Porter 5 Forces
Chapter 4 Global Concentrated Nitric Acid Market - Product Analysis
4.1 By Application
4.1.1 Ammonium Nitrate
4.1.2 Toulene di-isocyanate
4.1.4 Adipic acid
4.2 By End-use
4.4 By Geography
220.127.116.11 The United Kingdom
4.4.3 North America
18.104.22.168 The USA
4.4.4 South America
Chapter-5 Global Concentrated Nitric Acid Market- Competitive Landscape
5.1.1 Market Player Analysis
5.1.2 Key Strategies adopted by Manufacturers
Chapter-6 Global Concentrated Nitric Acid Market - Company Profiles
6.1 CF Industries Holdings, Inc.
6.3 National Chemical Group
6.4 Yara International
6.5 Hanwha Corporation
6.6 Koch Fertilizers
6.7 LSB Industries
6.8 Shandong Feng yuan Chemical Stock
6.9 Ube Industries
6.10 Linde Group
Chapter 7 Global Concentrated Nitric Acid Market - Appendix