Global Nitric Acid Market Report 2020 - Industry Capacity, Consumption, Value, Landscape Outlook, Projected Growth, Revenue by 2028. | Market Leaders: The Dow Chemical Company, Bayer AG, BASF SE, among Others

Nitric Acid Market is estimated to reach USD XX billion by 2028

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Nitric Acid Market.

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According to the report, the demand for nitric acids is expected to see significant growth over the forecast period as a result of the extensive use of nitric acid in the chemical and fertilizer industries. It is commonly used in the agriculture industry for the manufacture of fertilizers.

This acid is used for making elastomers, foams made of polyurethane and synthetic rubbers. The concentrated nitric acid is also used in rocket propellants as an oxidizer. It is also in use in intermediate dyeing. All these applications are anticipated to drive the nitric acid market during the forecast period.

What is Nitric acid?

Nitric acid is a corrosive mineral acid, which, when present in pure form,it is colourless and is slightly pale yellow on oxide reaction. Commercially, nitric acid is contained at a concentration of 70 per cent that is generally solid in nature.

With an emphasis on both organic and inorganic growth strategies there have been several primary developments done by major companies like The Dow Chemical Company, Bayer AG, BASF SE, LyondellBasell Industries, Agrium Inc., Koch Fertilizer LLC, AkzoNobel NV, Basic Chemical Solutions LLC, PVS Chemicals, Apache Nitrogen Products Inc. and others.

Segmentation for better understanding of this market and its growth prospects:

Global nitric acid market has been segmented based on, by type (strong, fuming), by application (adipic acid, ammonium nitrate, toluene di-isocyanate and others), by end-use (paints & coatings, agrochemical, automotive, explosive and others) and by region.

Strong nitric acid by type is expected to dominate the market during the forecast period. For the processing of various organic and inorganic nitrates, such as ammonium nitrate, adipic acid, and nitrobenzene, strong nitric acid is used. Such nitrates are used for various industrial applications.

By application, ammonium nitrate is accounted for the largest market share during the forecast period. Ammonium nitrate is used as a fertilizer and can be used as an intermediate to produce other fertilizers that have high nitrate content. In addition, ammonium nitrate is used for making explosives.

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This report provides:

1) An overview of Global Nitric Acid Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotional plans for Global Nitric Acid Market devices
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.

The researchers have studied the market in depth and have come up with major segments like product type, application and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

On the basis of the region, the nitric acid market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World.

During the forecast period, the Asia Pacific region is projected to experience significant growth in the nitric acid market. Because of the growing demand for nitric acid in major end-use industries such as agrochemical paints & coatings, automotive, explosive, and others drives the market in this region. Major Asia-Pacific countries include China, South Korea, Japan, India, Australia, etc.

Some of the major markets in North America and Western Europe are also typical suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Regulatory authorities have placed strict guidelines on environmental concerns and potential risks to safety from exposures. This has been more influential in the dynamic Western Europe region. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.

Some of the key Impact Factors:
o The rise of the automobile and tire industries
o The rise in agrochemical demand

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Market Segmentation:

By Type:
o Strong
o Fuming

By Application:
o Adipic Acid
o Ammonium Nitrate
o Toluene Di-isocyanate
o Others

By End-Use:
o Paints & Coating
o Agrochemical
o Automobile
o Explosive
o Others

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application
o By End-Use

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Europe)
o By Type
o By Application
o By End-Use

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application
o By End-Use

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application
o By End-Use

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application
o By End-Use

o Rest of the World
o By Region (South America, Africa)
o By Type
o By Application
o By End-Use

Reasons to buy this report:

o Market size estimation of the nitric acid market on a regional and global basis
o The unique research design for market size estimation and forecasts
o Profiling of the major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet the specific requirements:
o By segment
o By sub-segment
o By region/ country

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This release was published on openPR.