Overview of the global concentrated nitric acid market
According to Technavio’s market research analysis, the rising demand from the agricultural sector will be one of the major factors that will have a positive impact on growth of the global concentrated nitric acid market during the forecast period. Agrochemicals such as ammonium nitrate fertilizers are manufactured with the use of concentrated nitric acids. These nitric acids are neutralized using ammonia to form ammonium nitrate that is an extremely popular high-nitrogen fertilizer. The rise of agricultural activities globally will raise the usage of fertilizers such as ammonium nitrate which will positively impact the concentrated nitric acid market. Our market research analysts predict that by volume, this market will grow at a CAGR of about 3% by 2022.
In the coming years, the concentrated nitric acid market will witness a rise in the number of mergers and acquisitions. One of the prominent vendors, The Dow Chemical Company and DuPont have partnered resulting in the rise in revenue and product portfolio. In addition, Yara international has also acquired GrowHow through a million-dollar deal. The increase in mergers and acquisitions will intensify the level of competition among the players lead to better product standards across various applications.
Competitive landscape and key vendors
The concentrated nitric acid market consists of several global players holding a major share. Most of the key vendors deal with a wide product portfolio and offer consumers a complete range of solutions. These vendors are likely to be subjected to high regulatory scrutiny and are compelled to introduce innovative products to cater to the market standards.
The leading vendors in the market are –
- BASF
- DowDuPont
- Hanwha Group
- LSB Industries
- UBE INDUSTRIES
- Yara
The other prominent vendors in the market are DFPCL, Plinke, and ChemChina.
Segmentation by application and analysis of the concentrated nitric acid market
- Ammonium nitrate
- Nitrobenzene
- TDI
- Adipic acid
During 2017, the ammonium nitrate market segment accounted for the major shares of the concentrated nitric acid market. Factors such as the increasing use of ammonium nitrate in explosives, fertilizers and in instant cold packs will contribute to the growth of the market in the ammonium nitrate market segment.
Geographical segmentation and analysis of the concentrated nitric acid market
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the concentrated nitric acid market throughout the forecast period. The presence of several automotive manufacturing hubs in Europe and utilization of concentrated nitric acid in end-user industries such as agriculture and electrical and electronics will drive the market’s growth in this region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2022?
- What are the key factors driving the global concentrated nitric acid market?
- What are the key market trends impacting the growth of the global concentrated nitric acid market?
- What are the challenges to market growth?
- Who are the key vendors in the global concentrated nitric acid market?
- What are the market opportunities and threats faced by the vendors in the global concentrated nitric acid market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global concentrated nitric acid market?
Technavio also offers customization on reports based on specific client requirement.
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 06: MARKET SIZING
- Market definition
- Market sizing 2017
- Market size and forecast 2017-2022
PART 07: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 08: MARKET SEGMENTATION BY APPLICATION
- Segmentation by application
- Comparison by application
- Ammonium nitrate – Market size and forecast 2017-2022
- Nitrobenzene – Market size and forecast 2017-2022
- Toluene diisocyanate (TDI) – Market size and forecast 2017-2022
- Adipic acid – Market size and forecast 2017-2022
- Others – Market size and forecast 2017-2022
- Market opportunity for application
PART 09: CUSTOMER LANDSCAPE
PART 10: REGIONAL LANDSCAPE
- Geographical segmentation
- Regional comparison
- EMEA – Market size and forecast 2017-2022
- APAC – Market size and forecast 2017-2022
- Americas – Market size and forecast 2017-2022
- Key leading countries
- Market opportunity
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 13: MARKET TRENDS
- Mergers and acquisitions
- Growing economy in APAC
PART 14: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
- Major vendors
PART 15: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- BASF
- DowDuPont
- Hanwha Group
- LSB Industries
- UBE INDUSTRIES
- Yara
PART 16: APPENDIX