PUBLISHER: The Business Research Company | PRODUCT CODE: 1658906
PUBLISHER: The Business Research Company | PRODUCT CODE: 1658906
Concentrated nitric acid is a potent form of nitric acid, typically a water-based solution containing approximately 70% HNO3. This acid has a lower water content compared to its solutes.
The main types of concentrated nitric acid include strong nitric acid and fuming nitric acid. Strong nitric acid is a powerful acid with the molecular formula HNO3. It finds various applications in agrochemicals, explosives, automotive, rubber, and other materials. The distribution channels for concentrated nitric acid include direct institutional sales, retail sales, and other channels.
The concentrated nitric acid market research report is one of a series of new reports from The Business Research Company that provides concentrated nitric acid market statistics, including concentrated nitric acid industry global market size, regional shares, competitors with a concentrated nitric acid market share, detailed concentrated nitric acid market segments, market trends and opportunities, and any further data you may need to thrive in the concentrated nitric acid industry. This concentrated nitric acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The concentrated nitric acid market size has grown steadily in recent years. It will grow from $19.41 billion in 2024 to $19.86 billion in 2025 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to chemical industry growth, agricultural sector requirements, explosives manufacturing, metal processing and mining, industrial applications.
The concentrated nitric acid market size is expected to see steady growth in the next few years. It will grow to $22.52 billion in 2029 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to industrial safety emphasis, continuous innovations in chemical processes, automotive sector needs, water treatment requirements, semiconductor industry demand. Major trends in the forecast period include renewed use in explosives manufacturing, pharmaceutical sector advancements, dyes, pigments, and colorants demand, market competition and innovation.
The increasing demand for personal protective equipment (PPE) is expected to drive the growth of the concentrated nitric acid market in the coming years. PPE refers to wearable safety gear, including protective clothing, helmets, gloves, face shields, goggles, facemasks, respirators, and other accessories. Items like face masks and gloves are typically made from plastic polymers, which require concentrated nitric acid for their production. For example, in June 2022, the Centers for Disease Control and Prevention (CDC), a U.S.-based public health agency, reported that N95 masks are the most effective type of facial protection against respiratory viruses, including COVID-19. A study referenced by the CDC indicated that wearing N95 masks reduces the likelihood of testing positive for SARS-CoV-2 by 83%, while surgical masks reduced this likelihood by 66% and cloth masks by 56%. The CDC continues to emphasize the importance of N95 masks, particularly in healthcare settings, to help mitigate the spread of infectious diseases. Therefore, the growing demand for personal protective equipment is driving the concentrated nitric acid market.
The concentrated nitric acid market is set to experience growth driven by the burgeoning manufacturing industry. Serving as a robust oxidizing agent, concentrated nitric acid plays a pivotal role in metal etching, surface passivation, and the production of chemicals and explosives within the manufacturing sector. Eurostat's July 2023 report highlighted a 0.2% increase in industrial output in the European area, coupled with a 0.1% uptick in the European Union from May to April 2023. This underscores the vital role of concentrated nitric acid in fostering growth within the manufacturing industry.
Technological advancement is a key trend in the concentrated nitric acid market. Major companies in this sector are focusing on incorporating new technologies to reduce greenhouse gas emissions during the production of concentrated nitric acid, aiming to comply with climate regulation standards. For example, in July 2023, Orica, an Australia-based commercial explosives company, announced a significant project at its Kooragang Island facility designed to cut greenhouse gas emissions by nearly 50%. This initiative involves integrating renewable hydrogen into their ammonia production processes and collaborating with Origin Energy to establish the Hunter Valley Hydrogen Hub. The project employs a grid-connected electrolyzer to produce renewable hydrogen using recycled water and renewable electricity, supporting Orica's commitment to sustainability and reducing its carbon footprint. This initiative is part of a broader sustainability effort, which also includes the use of innovative technology to significantly decrease nitrous oxide (N2O) emissions from their three nitric acid plants, aiming to reduce greenhouse gases by at least 98%.
Major companies in the concentrated nitric acid market are intensifying their efforts by establishing new production facilities, enhancing competitiveness. In January 2023, Grupa Azoty S.A., based in Poland, inaugurated a state-of-the-art facility in Tarnow, doubling its existing capacity for producing concentrated nitric acid. Valued at $13.1 million, this facility is designed to output 40,000 metric tons per year, meeting the growing demand for concentrated nitric acid.
In November 2022, Deepak Fertilizers, a prominent player in the Indian fertilizer industry, entered into a significant collaboration with Aarti Industries valued at $9.84 billion (Rs 8,000 crore). This collaboration, marking a first-of-its-kind association between major Indian chemical players, involves specific volume commitments and supply or payment obligations. Aarti Industries, specializing in specialty chemicals and pharmaceuticals, is set to contribute to the sustained growth and commercial interests of both entities in the concentrated nitric acid market.
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 Quimica S.A., GACL-NALCO Alkalies & Chemicals Pvt. Ltd., Rashtriya Chemicals & Fertilizers Ltd., SRF Limited, Dow Inc., Eastman Chemical Company, Mitsui Chemicals Inc.
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.
The countries covered in the concentrated nitric acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The concentrated nitric acid consists of hydrogen nitrate, ammonium nitrate, adipic acid, nitrobenzene, and toluene diisocyanate. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Concentrated Nitric Acid Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on concentrated nitric acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for concentrated nitric acid ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The concentrated nitric acid market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.