Concentrated Nitric Acid Market Size Forecasted To Achieve $22.52 Billion By 2029 With Steady Growth

The Concentrated Nitric Acid Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Concentrated Nitric Acid Market Size and Projected Growth Rate?
The market size of concentrated nitric acid has been consistently expanding over the past few years. It is projected to increase from $19.41 billion in 2024 to $19.86 billion in 2025, showcasing a compound annual growth rate (CAGR) of 2.3%. The notable growth experienced during the historic period is accredited to the expansion of the chemical industry, demands from the agricultural sector, explosives production, metal handling and mining, along with various industrial uses.

The market size of concentrated nitric acid is anticipated to witness consistent expansion in the forthcoming years. By 2029, it is forecasted to reach $22.52 billion, with a compound annual growth rate (CAGR) of 3.2%. The upsurge during the forecast period can be credited to the increased focus on industrial safety, ongoing enhancements in chemical procedures, requirements of the automotive sector, water treatment essentials, and the semiconductor industry's demand. The projection period is expected to see prominent trends like resurgence in the usage for producing explosives, advances in the pharmaceutical sector, demand for dyes, pigments, and colorants, and market competition and innovation.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8255

What Are the Major Segments in the Concentrated Nitric Acid Market?
The concentrated nitric acid market covered in this report is segmented -

1) By Type: Strong Nitric Acid, Fuming Nitric Acid
2) By Application: Agrochemicals, Explosives, Automotive, Rubber, Other Application
3) By Distribution Channel: Direct Or Institutional Sales, Retail Sales, Other Distribution Channels

Subsegments:
1) By Strong Nitric Acid: 68% Nitric Acid, 70% Nitric Acid
2) By Fuming Nitric Acid: White Fuming Nitric Acid (WFNA), Red Fuming Nitric Acid (RFNA)

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8255&type=smp

What Are The Driving Concentrated Nitric Acid Market Evolution?
The surge in necessity for personal safety gear is anticipated to boost the concentrated nitric acid market's expansion. Notably referred to as personal protective equipment (PPE), it consists of safety clothing, helmets, gloves, face protectors, eyewear, facial coverings, breathing apparatus, and other related items. This safety gear, particularly face masks and gloves, are made from plastic polymers requiring concentrated nitric acid in their production process. For example, the U.S-based public health organization, Centers for Disease Control and Prevention (CDC), reported in June 2022 that N95 masks are the most effective form of face coverage against respiratory viruses, including COVID-19. According to a study referenced by the CDC, the use of N95 masks reduces the chance of testing positive for SARS-CoV-2 by 83%, while surgical masks lessen this likelihood by 66%, and fabric masks by 56%. The CDC continues to underline the significance of N95 masks, particularly in healthcare surroundings, as a means to control the contagion of infectious diseases. As a result, the increasing demand for personal safety gear fuels the concentrated nitric acid market's growth.

Which Firms Dominate The Concentrated Nitric Acid Market Segments?
Major companies operating in the concentrated nitric acid market are Nutrien Ltd., BASF SE, Dupont de Nemours Inc., LSB Industries Inc., CF Industries Holdings Inc., Deepak Fertilisers and Petrochemicals Corporation Ltd., Koch Fertilizers LLC, National Chemical Group Co. Ltd., OCI N.V., Shandong Fengyuan Chemical Stock Co. Ltd., Ube Industries Ltd., Yara International ASA, The Chemical Company, Gujarat Narmada Valley Fertilizers & Chemicals Limited, EuroChem Group AG, Grupa Azoty S.A., FCI Aravali Gypsum and Minerals India Ltd., Abu Qir Fertilizers and Chemicals Company, Sichuan Chuanxi Xingda Chemical Co. Ltd., Shandong Haili Chemical Industry Co. Ltd., Nitro Química S.A., GACL-NALCO Alkalies & Chemicals Pvt. Ltd., Rashtriya Chemicals & Fertilizers Ltd., SRF Limited, Dow Inc., Eastman Chemical Company, Mitsui Chemicals Inc.

What Trends Are Expected to Dominate the Concentrated Nitric Acid Market in the Next 5 Years?
Technological innovation is driving the concentrated nitric acid market trend. Leading companies in this market are keen on modernising their processes to lessen the amount of greenhouse gas emissions during concentrated nitric acid production to meet environment friendly standards. A case in point being Orica, a commercial explosives company based in Australia, that initiated a sizeable project in July 2023 at its Kooragang Island facility. The project's goal is to cut down greenhouse gas emissions by around 50%. The scheme includes the inclusion of renewable hydrogen into their ammonia manufacturing processes and a partnership with Origin Energy to create the Hunter Valley Hydrogen Hub. This project sees the use of a grid-connected electrolyser to generate renewable hydrogen using recycled water and renewable electricity, thus supporting Orica's pledge to sustainability and reduced carbon emissions. The project forms a part of a broader sustainability drive and employs cutting-edge technology to drastically lower nitrous oxide, or N2O, emissions from their trio of nitric acid plants, substantially reducing greenhouse gases by a remarkable 98%.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/concentrated-nitric-acid-global-market-report

Which Is The Largest Region In The Concentrated Nitric Acid Market?
Asia-Pacific was the largest region and fastest growing in the concentrated nitric acid market share in 2024. The regions covered in the concentrated nitric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Concentrated Nitric Acid Market?
2. What is the CAGR expected in the Concentrated Nitric Acid Market?
3. What Are the Key Innovations Transforming the Concentrated Nitric Acid Industry?
4. Which Region Is Leading the Concentrated Nitric Acid Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.