You are on page 1of 5

1

GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Ankita Roy, Treesha Banerjee and Liza Dsouza from Global Market Estimates throw the spotlight on
the growing Concentrated Nitric Acid Market

Concentrated Nitric Acid - Market Insights:

Concentrated nitric acid was valued at USD 20 billion in 2016, it is used in the production of
explosives pesticides, nitrogen fertilizers, synthetic rubbers, polyurethane foams, and elastomers.
Concentrated nitric acid works as an oxidizer in rocket propellants and dye intermediates.

The unstable nature of several compounds having nitric acid-base allows their usage in explosives,
while pigments, paints & dyes utilize stable compounds of nitric acid.

The growing demand for polyurethane foams in the automotive, building & construction, and
furniture industries is expected to boost the demand for concentrated nitric acid in the forecast
period.

Regional Analysis (2016 vs 2025)


USD Million

North Europe Asia Pacific Middle East Centra &


America & Africa South
America

2016 2025

COPYRIGHT 2017 GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS 1


2

GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Concentrated Nitric Acid - Product Insights:

The concentrated nitric acid market is segmented into strong and fuming acid (concentration of
above 86%). Strong nitric acid has 50-85% concentration and estimated to be the fastest growing
type of during the forecast period.

It is used in producing ammonium nitrate, adipic, nitro chlorobenzene, nitrobenzene and toluene
diisocyanate (TDI). It increases the rate of burning of the materials they come in contact with; this
property is used in secondary explosives.

Concentrated Nitric Acid - Application Insights:

The nitric acid market is primarily being driven by the fertilizer market. It is used to produce calcium
ammonium nitrate and ammonium nitrate which is used in fertilizers. The expansion of the
agrochemical industry is expected to foster the growth of the ammonium nitrate market in the
forecast period.

Nitrate can further be used in manufacturing urea ammonium nitrate (UNA) which is used in making
explosives and fertilizer solution. The increasing demand in explosives market for mining and
construction has boosted the growth of this industry. It can further be used in the production of
adipic acid which is used in the production of nylon 6 & 66 that is used in producing tires,
automotives, and textiles.

Concentrated Nitric Acid - End Use Insights:

Agrochemicals industry is estimated to remain the largest end user as it uses ammonium nitrate to
produce fertilizers. The demand for ammonium nitrate from the developing countries such as Japan,
India, China, and Brazil will help them in the growth of this market.

Automotive, textile and tyres industry uses nylon 6,66 for their manufacturing, which is produced
from adipic acid. The explosive and construction market which use UNA is expecting to grow owing
to the expansion of the mining industry.

Concentrated Nitric Acid - Regional Insights:

Asia Pacific nitric acid market is estimated to be the fastest-growing in the forecast period, followed
by Europe and North America. The expansion of the industry can be credited to the presence of
concentrated nitric acid companies such as Shandong Fengyuan Chemical Stock Co. Ltd. (China),
Hanwha Corporation (South Korea), and Ube Industries (Japan) among others, the market in China is
estimated to grow the fastest over the forecast period.

COPYRIGHT 2017 GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS 2


3

GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Europe is the leading consumer of nitric acid owing to its demand for explosives and fertilizer.
Largest demand was observed in Eastern and Western European, in the next few years. In the
forecast period, Asia Pacific is expected to become the second largest consumer of nitric acid.

Concentrated Nitric Acid - End Use Landscape:

The end-user landscape entails a list of current and prospective consumers prevailing across the
regions. This section provides company addresses, contact details, products, and regional presence
of companies who are purchasing or are likely to purchase from concentrated nitric acid market over
the coming years.

Some leading consumers include Sinofert Holdings Limited (China), Eurochem (Switzerland), Bunge
(U.S.), and Agrium Inc. (Canada), Agrium, Yara International, SinofeRT Holding Ltd., Terra Nitrogen
Company, Potash Corp, IEP Technologies, SERGI Transformer Protector, and Sumitomo Chemical
among others.

Market Share Analysis (2017)

Company A Company B Company C Company D Others

COPYRIGHT 2017 GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS 3


4

GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Concentrated Nitric Acid - Competitive Insights:

The companies involved in this industry are increasing their investment in expansion capacity and
improving distribution networks, resulting in enhancing their position in the market. Mergers and
acquisitions are being used to increase the demand for this industry in different regions in the
forecast period.

The key companies operating in the market are Agrium Inc. (Canada), CF Industries (US), Deepak
Fertilisers and Petrochemicals Corp. Ltd. (India), Hanwha Corporation (South Korea), Koch Fertilizers
LLC (US), LSB Industries Inc. (US), National Chemical Group (Russia), OCI N.V. (Netherlands),
Shandong Fengyuan Chemical Stock Co. Ltd. (China), Ube Industries (Japan), and Yara International
(Norway).

The report segments the Concentrated Nitric Acid Market on the basis of:

By End-User:

Automotive
Electronics
Agrochemicals
Explosives

By Product:

Fuming
Strong

By Type:

Adipic Acid
Nitrobenzene
Ammonium Nitrate
Toluene Diisocyanate

COPYRIGHT 2017 GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS 4


5

GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

By Region:

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

* This article contains text from the Concentrated Nitric Acid Market Forecast to 2025 report
prepared by Global Market Estimates. For more information or to buy the report, please visit:
https://www.globalmarketestimates.com/concentrated-nitric-acid-market-analysis/

COPYRIGHT 2017 GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS 5