Nitric Acid Market to reach USD 43.5 billion by 2035, Led by Asia Pecific 55% share, Key players- CF Industries Holdings, Inc.,Yara International ASA , BASF SE, Nutrien Ltd., OCI Nitrogen B.V.

The global nitric acid market size is estimated to be around USD 32.7 billion in 2025 and is projected to grow to approximately USD 43.5 billion by 2035, exhibiting a compound annual growth rate (CAGR) of about 2.9% during this period.

The main reasons for the nitric acid market's growth are rising global food demand and the need for enhanced agricultural productivity, which increases demand for nitrogen-based fertilizers. The market also grows due to its essential role in producing explosives for the mining industry and as a key chemical intermediate for manufacturing plastics and other materials.

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Key development

United States
✅ September 2025: U.S. fertilizer manufacturers expanded nitric acid production capacity to support growing demand for ammonium nitrate and specialty nitrogen-based fertilizers.

✅ June 2025: American chemical producers adopted low-NOx burners and advanced emission-control systems to reduce greenhouse gas emissions during nitric acid synthesis.

✅ April 2025: U.S.-based explosives and mining chemical companies secured long-term nitric acid supply agreements to enhance production stability for blasting agents and industrial nitrates.

Japan
✅ October 2025: Japanese chemical companies upgraded nitric acid plants with energy-efficient oxidation technologies to cut operational costs and align with national decarbonization goals.

✅ July 2025: Japan's electronics and semiconductor material suppliers increased procurement of high-purity nitric acid for etching and cleaning processes in advanced chip fabrication lines.

✅ March 2025: Japanese research institutions developed improved catalytic oxidation methods to boost nitric acid yield while minimizing nitrous oxide emissions.

Segmentation analys

By Concentration

• Weak/Dilute Nitric Acid : Dominates with 58% share due to lower production costs and versatility in fertilizers and intermediates.​
• Concentrated Nitric Acid : Key for explosives, electronics, and high-purity needs, growing at 3.6% CAGR.​
• Fuming/Red Fuming : Niche use in aerospace propulsion and specialty chemicals.​

By Application/End-Use

• Fertilizers : Largest segment at 75% share, driven by global crop yield demands.​
• Explosives: Fastest-growing at 3.93% CAGR, fueled by mining and infrastructure.​
Chemical Manufacturing : Supports nylon, dyes, and automotive lightweighting.​
• Others : Emerging from electronics and defense.

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Regional insights:-

• North America: 19% share, driven by demand from the agricultural (fertilizer) sector, mining (explosives), chemical-manufacturing (polymers / intermediates), and modernization of production infrastructure.

• Asia-Pacific: 55% share the largest global region supported by high fertilizer demand (growing agriculture), expanding chemical and industrial output (e.g. polymers, intermediates), and rising demand in mining / infrastructure / industrial sectors.

• Europe: 32% share (or more in some specialty-demand analyses), underpinned by its mature chemical & fertilizer industry, strong regulatory environment (which shapes production methods), and demand from sectors like automotive, construction, and specialty chemicals.

• Latin America: 8% share largely driven by agriculture (fertilizers) and growing mining/industrial chemicals demand.

• Middle East & Africa: 7% share, with growth supported by mining, fertilizers, and expanding industrialization / chemical-sector investments in some countries.

Key Players
CF Industries Holdings, Inc. | Yara International ASA | BASF SE | Nutrien Ltd. | OCI Nitrogen B.V. | LSB Industries, Inc. | EuroChem Group AG | Dyno Nobel

Key Highlights

• CF Industries Holdings, Inc. Holds approximately 18% global nitric acid market share, driven by its extensive production facilities and strong global distribution network.

• Yara International ASA Accounts for around 15% share of global nitric acid market, benefiting from its strong presence in fertilizers and integrated chemical-agro supply chains.

• BASF SE As a major chemical-industry conglomerate with global reach, BASF is a top-tier nitric acid producer supplying both industrial and specialty-grade acid, and remains a leading European producer.

• Nutrien Ltd. Strong North American player, with large-scale production and distribution infrastructure, positioning it among the global top producers of nitric acid.

• OCI Nitrogen B.V. Recognized among global key players in nitric acid market, supplying industrial nitrates and nitric acid for fertilizer and chemical applications. LSB Industries, Inc. Known as a merchant nitric acid producer in the U.S., supplying acid to industrial, mining and chemical sectors.

• EuroChem Group AG European-based integrated fertilizer and chemical company; maintains a strong position in nitric acid production and supply, with access to feedstock and distribution networks.

• Dyno Nobel Recognized as a nitric acid (and nitrate) producer used especially in explosives and industrial applications; part of the broader global nitric acid supplier bas

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key market Drivers:-

1. Rising fertilizer production (especially ammonium nitrate): Growing global demand for high-efficiency fertilizers continues to drive large-scale nitric acid consumption.

2. Increasing use in explosives manufacturing: Defense, mining, and construction industries rely heavily on nitric acid-based explosives like ANFO.

3. Expansion of chemical and polymer industries: Nitric acid is a key raw material for producing adipic acid and toluene diisocyanate (TDI), supporting growth in automotive, textiles, and plastics.

4. Higher demand from metal processing and pickling: Industrial growth and infrastructure development are boosting nitric acid use in stainless-steel fabrication.

5. Rapid growth in electronics and semiconductor sectors: Nitric acid is used in etching and cleaning processes, supporting rising semiconductor production globally.

6. Urbanization and infrastructure development: Increased construction activity is indirectly driving demand for nitric acid-based explosives and polymers.

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About DataM Intelligence

DataM Intelligence is a renowned provider of market research, delivering deep insightsthrough pricing analysis, market share breakdowns, and competitive intelligence. Thecompany specializes in strategic reports that guide businesses in high-growth sectors suchas nutraceuticals and AI-driven health innovations.

To find out more, visit https://www.datamintelligence.com/ or follow us on Twitter,LinkedIn and Facebook.

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