Global Nitric Acid Market: Overview
The global nitric acid market report provides in-depth insights into the size and share of various segments, remarkable trends and opportunities in various regions, and the competitive landscape, including key strategies adopted by various players to consolidate their shares. The study meticulously tracks the changes in regulatory landscape and advances in technologies pertaining to the commercial production of nitric acid. In addition, the report takes a critical look at the key factors driving the prominent segments. Offering a critical assessment of key factors affecting the market sizing of various segments over the historical period (2012–2017), the research offers evidence-based projectoions of the market along the forecast period (2017–2022). It highlights notable advancements in end-use industries and evaluates their impact on the demand for nitric acid in major regions. It analyzes the supply chain dynamics and raw materials sourcing strategy to offer a holistic overview of the market and emerging avenues likely to prove lucrative in the coming years.
The global nitric acid is anticipated to be worth US$16,839.5 Mn by 2017 end and is projected to rise at 3.9% CAGR during 2017–2022. By the end of the forecast period, the market is predicted to reach US$20,420.8 Mn.
Global Nitric Acid Market: Dynamics
The report on the global nitric acid market offers a granular analysis of key elements of the dynamics to assess notable trends and lucrative segments. The assessment covers the share and size of various segments, key factors driving or restraining the market, and the strategic developments. Furthermore, the report employs various industry tools to make a comparative analysis of the market sizing based on year-over-year growth of various segments across regions.
The wide application of nitric acid as intermediates in making fertilizers and a number of useful industrial chemicals is a key factor boosting the market. The prominent role played by nitric acid in manufacturing of useful products in the chemical and allied industries is a notable factor driving the uptake. The substantial application of nitric acids in the preparation of dyes and perfumes, in the manufacturing of sulfuric acid, and in the production of aniline by using nitrobenzene is a key factor fueling the growth of the market. The demand for concentrated nitric acid in etching designs on brass, bronze ware, and copper is further accentuating the market. The toxic nature of nitrate salt such as ammonium nitrate and some of its intermediates is a key factor likely to hamper the demand for some end-use applications. Nonetheless, adhering to handling and safety guidelines in nitric acid industrial use bodes well for the market.
Global Nitric Acid Market: Segmentation
The report segments the global nitric acid market into end use, application, and region.
On the basis of end use, the report further segments the market into fertilizers, nitrobenzene, toluene diisocyanate, adipic acid, metal processing, and others. Of these, fertilizer dominates the end-use segment holding the major revenue in the market in 2017 and is anticipated to lead the market throughout the forecast period. The segment is anticipated to be worth US$16,105.9 Mn by the end of 2022, representing a share of 79.7% of the end-use market.
Based on region, the report segments the global market into Latin America, North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan, and Japan. Of these, Europe dominates the global market holding the leading revenue share. The regional market is anticipated to retain the lead during the forecast period.
Based on application, the report bifurcates the global market into chemicals and allied industries and metallurgical industries.
Companies profiled in the report are:
This section offers an extensive profile of key players, their market share, and the strategies adopted by them to consolidate their shares. The study offers takes a closer look at the changing competitive landscape in major regions. Key players discussed in the report include BASF SE, The Chemours Company, Eurochem Group, Dyno Nobel, Potash Corp, Sumitomo Chemical Co., Ltd., Yara, CF Industries, and OCI Nitrogen.
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