Nitric acid Market: The global market is expected to grow at a CAGR of 2.4% during the forecasted period.

As per the study initiated by Evolve Business Intelligence, the global Nitric acid Market size accounted for USD 29.5 Billion in 2022, growing at a CAGR of 2.4% from 2023 to 2033. The nitric acid market refers to the global industry involved in the production, distribution, and sale of nitric acid. Nitric acid (HNO3) is a highly corrosive and strong acid that is widely used in various industries for different applications.
The nitric acid market is driven by the demand for its use in the agricultural sector, particularly for the manufacturing of fertilizers. Nitric acid is a vital component in the production of ammonium nitrate, a popular nitrogen-based fertilizer.
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Key Highlights:
• The global Nitric acid Market size was valued at USD 29.5billion in 2022 growing at a CAGR of 2.4% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has recently released a new market research report on the Global Nitric acid Market. The report covers a wide range of aspects, such as market size and forecast, market dynamics, analysis of competitors' market share, value and volume of the market, SWOT analysis, product benchmarking, recent developments of key players, and potential opportunities. Additionally, the market has been assessed based on four indicators in the market dynamic chapter, including Drivers, Restraints, Key Trends, and Challenges.
In terms of COVID 19 impact, the Nitric acid Market report also includes the following data points:
• COVID19 Impact on Nitric acid Market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Nitric acid Market
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Key Players
Some of the major Nitric acid Market players holding high market share include BASF SE, Dupont, Nutrien Ltd. and Omnia Holding Limited. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• BASF SE
• Dupont
• Nutrien Ltd.
• Omnia Holding Limited
• Apache Nitrogen Products Inc.
• CF Industry Holdings, Inc
• Rashtriya Chemicals & Fertilizers Ltd.
• Dyno Nobel
• Sasol
• Angus Chemical Company
• Enaex S.A.
• LSB Industries
Segmental Analysis
Market Segment By Application with focus on market share, consumption trend, and growth rate of Nitric acid Market:
• Fertilizers
• Nitrobenzene
• Adipic Acid
• Toluene Di-isocyanate (TDI)
• Nitrochlorobenzene
• Agricultural Tools
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Global Nitric acid Market Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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