Global Nitric Acid Market Outlook to 2026

Nitric acid, also known as aqua fortis and spirit of niter, is a colourless, fuming, and highly corrosive liquid that is a common laboratory reagent and an important industrial chemical for the manufacture of explosives and fertilizers. It is toxic and can cause severe burns. According to BlueQuark Research & Consulting, the global Nitric Acid Market is expected to witness a significant growth rate during the forecast period. Increasing fertilizer demand due to the rising need for high crop yield to address the increasing necessity of growing population is expected to be the significant driver of nitric acid market during the forecast period. Furthermore, the rising consumption of nitric acid in chemicals like toluene di-isocyanate (TDI) and adipic acid is anticipated to drive the overall market growth during the forecast period. However, the presence of a large amount of nitric acid in chemical effluent released from plants is likely to cause contamination of soil and groundwater which is likely to hinder the global nitric acid market during the forecast period.

Asia-Pacific is expected to dominate the nitric acid market due to the continuous rising demand from end-user industries including chemical processing industries, fertilizers, pigments, and dyes, in countries like China and India. Further, China has emerged as the biggest consumer and producer of fertilizer which is likely to drive the studied market during the forecast period.

Fertilizer industry producing ammonium nitrate and calcium nitrate fertilizers is one of the major consumers of nitric acid. Hence, for meeting the needs of the increasing global food demand, more land is required for cultivation, and hence, fertilizer demand is likely to increase with the global fertilizer industry during the forecast period.

The global nitric acid market is fragmented. Some of the key players in the market are BASF SE, Deepak Fertilisers and Petrochemicals Corporations Ltd., LSB Industries, and Nutrien Ltd., among others.

In May 2019, KBR announced that its subsidiary Plinke has been awarded a contract by Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) of India to build a Concentrated Nitric Acid plant (CNA) at Bharuch, Gujarat. Moreover, in January 2019, Casale and Borsodchem, a subsidiary of Wahua Chemical Group (China), have signed a contract for the supply of a new 660 tpd, nitric acid plant at the Kazincbarcika factory in Hungary.

Global Nitric Acid Market report provides deep insight into the current and future state of Global Nitric Acid Market across various regions. The study comprehensively analyzes the Global Nitric Acid Market by segmenting based on geography, by End-user Industry (Fertilizer, Aerospace, Inks, Pigments & Dyes, Explosives, Chemical Processing, and Others). The report examines the market drivers and restraints that are influencing the growth in detail. The study covers & include emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape section with profiles of major companies including their market shares and projects.