Global Nitric acid Market: Emerging Trends, Major Key Players Agrium Inc.(Canada) and CF Industries (US)

According to the report, The global Nitric acid market size is expected to reach $30.69 Billion by 2028 growing at the CAGR of 3.44% from 2021 to 2028. The driving factor of the Nitric acid market is the growing demand for Nitric acid in industries such as chemical, polymer, and biotechnological. In addition, the growth of the Nitric acid market is attributed to the increasing consumption of Nitric acid in pharmaceutical industries. Moreover, the growing demand for Nitric acid in the food processing industry is estimated to positively impact Nitric acid market growth.

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The latest research report published by Evolve Business Intelligence examines the impacts of numerous market aspects on the global NITRIC ACID industry including a look at the current market size and forecasts for key segments and regions, the driving forces behind the market, the probable effects from key trends, how all these will affect the business plan, SWOT analysis of critical sectors for each of the key competitors, customers and more! Providing valuable data about conglomerations that are most likely going to have an impact on this industry is essential to any company who plans to properly invest for next 5 years. These findings supplement our initial quantitative study in order to facilitate any new investments or planning traits against threats in existing sectors through a strategic business plan.

Impact of COVID-19

The on-going COVID-19 pandemic has had a significant impact on the industry. Several financial impacts and disruptions have been felt over a long period of time. Our research has interviewed numerous delegates from this industry, across geographical markets to collect information that is helpful for addressing potential challenges the COVID-19 pandemic may cause going forward.
In terms of COVID 19 impact, the Nitric acid market report also includes the following data points:
• Impact of COVID-19
• Government Aids and Policies for Industry Revival
• Companies Recent Developments to Tackle Negative Impact
• Opportunity Window & Post COVID Trend

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Key Players
Some of the major Nitric acid players holding highest market share include Agrium Inc.(Canada), CF Industries (US), Deepak Fertilisers and Petrochemicals Corp. Ltd. (India) and Hanwha Corporation (South Korea). These players use expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● 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).

Segmental Analysis

Market Segment By Type with focus on market share, consumption trend, and growth rate of NITRIC ACID Market:
o Strong
o Fuming

Market Segment By Applications with focus on market share, consumption trend, and growth rate of NITRIC ACID Market:
o Ammonium Nitrate
o Adipic Acid
o Nitrobenzene
o Toluene Diisocyanate

Market Segment By End-User Industry with a focus on market share, consumption trend, and growth rate of NITRIC ACID Market:
o Agrochemicals
o Explosives
o Automotive
o Electronics

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Global Nitric acid Geographic Coverage:
• North America
o US
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Rest of Asia Pacific

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA

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