openPR Logo
Press release

Nitric Acid Market is Expected to Grow at a CAGR of 4.12% by 2030 | ChemAnalyst

10-06-2021 06:57 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: ChemAnalyst

Nitric Acid Market is Expected to Grow at a CAGR of 4.12% by 2030 |

According to ChemAnalyst report, “Nitric Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Nitric Acid market witnessed a steady growth in the historic years and is estimated to achieve a CAGR of 4.12% in the forecast period owing to its never-ending demand in Fertilizer’s sector. Nitric acid (HNO3) is an acidic, highly corrosive, and colorless liquid, produced through a two-step process: oxidation of ammonia and then absorption of produced nitrogen oxides. It is used in the synthesis of organic and inorganic nitrates and nitro compounds for fertilizers, dyes, plastics, explosives such as TNT and other organic chemicals.

Read Full Report Here: https://www.chemanalyst.com/industry-report/nitric-acid-market-615

The key applications for Nitric Acid include Adipic acid (ADA), Ammonium nitrate (AN), Toluene di-isocyanate (TDI), Nitrobenzene, Nitro chlorobenzene, Metal nitrates, and Others. Majority of Ammonium Nitrate is used as fertilizer or in the production of fertilizer solutions such as Urea Ammonium Nitrate (UAN) and the remaining being consumed in the manufacturing of various types of explosives. Adipic Acid is utilized as a precursor in the manufacturing of Nylon 6,6 which has high end use in automotive industries. Toluene di-isocyanate is mainly employed in the manufacture of flexible polyurethane foams, elastomers, Flooring, coatings, plastics thus have strong demand from transportation, furniture, and construction industries. Aniline, a derivative of Nitrobenzene having many applications including making pharmaceutical products, aramid fiber, and polyurethane foams etc. Escalating demand of fertilizer industry coupled with the huge demand of Adipic acid to manufacture Nylon 6,6 which is an alternative to heavy metals for Automobile industry drive the demand of nitric acid during the forecast period.

Due to COVID-19 pandemic, the demand of Nitric Acid and its derivates has adversely affected in the market, as industries went non-operational during the lockdown, in the major global economies. However, an improvement is witnessed after the relaxation in lockdowns, as industries start operating their manufacturing units at maximum efficiencies to meet the demands from end- user industries which majorly includes fertilizer, automobile, dyes, chemical manufacturing, explosives, and others. All these applications seem to propel the Nitric Acid market globally during the forecast period. Moreover, the growing demand for green fertilizers and organic farming is expected to hinder the demand growth during the forecast period.

Read Free Request Sample Online: https://www.chemanalyst.com/ChemAnalyst/RequestForm

Region wise, Asia Pacific region holds the maximum share of global demand for Nitric Acid owing to the surging demand for fertilizer from the agriculture industry as well as expanding automotive industry in Asia-Pacific countries, including China, India, etc. Moreover, increasing government efforts like make in India which are projected towards fulfilling domestic demand by domestic supply have raised the production capacities in the Asia Pacific. North America and Europe are also expected to show a significant growth during the forecast period because of the presence of the largest end use industries including, Chemical and Automobile specially.

According to ChemAnalyst report, “Global Market By Global Nitric AcidMarket Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Agrium Inc, BASF Group, CF Industries, Du Pont Inc., Apache Nitrogen Products, Dyno Nobel, Deepak Fertilisers and Petrochemicals Corp. Ltd., Hanwha Corporation, Sasol limited, Koch Fertilizers LLC, LSB Industries Inc., National Chemical Group, OCI N.V., Shandong Fengyuan Chemical Stock Co. Ltd., Ube Industries, and Yara International, and others.

Read Full Report Here: https://www.chemanalyst.com/industry-report/nitric-acid-market-615

“Nitric Acid is one of the world’s largest commodity chemicals, predominantly used in the production of Fertilizers especially ammonium nitrate and calcium ammonium nitrate and for several other organic intermediates and chemicals. The versatility of Nitric Acid and its products and the rapid growth of industries such as agriculture, automobile and construction derive the global market for Nitric Acid. It is also used in the processes like metal treatment and uranium processing. Moreover, High demand for nylon products for automobile interiors and component manufacturing is also the key factor that impels the growth of Nitric Acid market across the globe in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

Browse Related Reports:

India Adipic Acid Market: Plant, Demand & Supply, Technology, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030.

https://www.chemanalyst.com/industry-report/india-adipic-acid-comprehensive-techno-commercial-market-17

Water-Soluble Fertilizer Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030.

https://www.chemanalyst.com/industry-report/water-soluble-fertilizer-market-600

About Us

ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.

ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.

ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.

Contact Us:

Nilesh Vishwakarma

B-44 Sector-57 Noida,

National Capital Region

Tel: 0120-4523948

Mob: +91-8882336899

Email: sales@chemanalyst.com

Website: https://www.chemanalyst.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Nitric Acid Market is Expected to Grow at a CAGR of 4.12% by 2030 | ChemAnalyst here

News-ID: 2418396 • Views:

More Releases for Acid

Chloroacetic Acid (Monochloroacetic Acid) Market 2022 | Detailed Report
The market report delivers an all-inclusive analysis of the market structure along with a forecast of the various segments and sub-segments of the Chloroacetic Acid (Monochloroacetic Acid) industry. This wide-ranging market research report acts as a backbone for the success of business in any niche. The Chloroacetic Acid (Monochloroacetic Acid) market survey report has been prepared by conducting market research in a systematic manner. Moreover, the Chloroacetic Acid (Monochloroacetic Acid)
Bio-Based Platform Chemicals Market Value to Expand at $18.8 Billion by 2021 : I …
"North America and Europe, collectively accounted for more than half of the total platform chemicals market in 2015 and are expected to maintain this throughout the forecast period. Key factors responsible for the market growth in these regions include, stringent government regulations imposed on the consumption of toxic chemicals and rapid adoption of innovative technologies. However, Asia-Pacific is projected to be the fastest-growing segment due to increase in industrial activities
pH Control/Salt Market by Region - North America, Latin America, Europe, Japan, …
According to Fact.MR’s recent forecast study, the global market for pH control/salts will register a value CAGR of 3.7% during the forecast period, 2017-2026. The report further reveals that by the end of 2026, more than 16,700,683 tons of pH control/salts will be sold across the globe. Competition Tracking Leading producers of pH control/salts have been profiled in the report. These include, Archer Daniels Midland Company, Batory Foods Inc., Brenntag Ingredients Inc.,
pH Control/Salt Market by Region - North America, Latin America, Europe, Japan, …
According to Fact.MR’s recent forecast study, the global market for pH control/salts will register a value CAGR of 3.7% during the forecast period, 2017-2026. The report further reveals that by the end of 2026, more than 16,700,683 tons of pH control/salts will be sold across the globe. Competition Tracking Leading producers of pH control/salts have been profiled in the report. These include, Archer Daniels Midland Company, Batory Foods Inc., Brenntag Ingredients Inc.,
Dimeric fatty acid Market, Dimeric fatty acid Market Growth, Dimeric fatty acid …
The Fact.MR report covers all the recent developments in the dimeric fatty acid market. The report features a list of market leaders and new entrants in the dimeric fatty acid market, including Croda International Plc., Kraton Corporation, Oleon NV, Shandong Huijin Chemical Co. Ltd., Liancheng Baixin Science and Technology Co. Ltd., Jiangsu Jinma Oil Technology Development Co., Ltd., Jiangsu Yonglin Oleochemical Co. Ltd., Anqing Hongyu Chemical Co., Ltd., Aturex Group,
Feed Acid Market Report 2018: Segmentation by Type (Acetic Acid, Butyric Acid, F …
Global Feed Acid market research report provides company profile for Nutrex NV, Novozymes Adisseo France SAS, Pancosma SA, Perstorp Holding AB, BASF SE, Biomin GmbH, Kemin Industries Inc, Kemira Oyj, Novus International Inc and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and