Global Concentrated Nitric Acid Market 2018-2022

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

• Americas
• APAC
• EMEA

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.