Due to large scale use of chemicals and fertilizers this industry is expected to boom rapidly in the global market. With the growing demand of Ammonium nitrate fertilizers for agricultural use, it has become the key factor for industrial growth. Growth of chemical making industries, especially in emerging regions like China and India, it is further expected to increase more demand of nitric acid market in next five years. Asia Pacific was the largest market for nitric acid in 2012-2013 with strong and impactful presence of fertilizers industries in that region. North America and Europe are estimated to witness loss of market share by over 2.1% in the forecast period. Asia Pacific is likely to experience high growth with CAGR of 2.8% from 2015 to 2022.
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Ammonium nitrate contributes being the largest application segment over the years and also in upcoming years owing the increasing demand in agricultural field and lack of rule and regulations of the use of nitrate fertilizer in India and China. Central and Eastern Europe has dominated the Nitric acid industry globally with market demand over 20 million tons in 2014.
Hexa Research also stated that, Adipic acid, key application of Nitric acid is contributing for 2,280 Kilo tons in global market.
Nitric acid consumed for ammonium nitrate production is used as a intermediate for manufacturing of fertilizers or 80% of it is used a fertilizer. Nitric acid industry is stated by its major Players including Dow Chemical Company and BASF SE. Koch Nitrogen Company and Agrium are involved in manufacturing ammonium nitrate and ammonia which is nitrogen based fertilizers. Automobile, construction, furniture and chemical industries being the key factor involving nitric acid Market growth.
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Chapter 1 Executive Summary
Chapter 2 Nitric Acid Market Analysis
2.1 Market Segmentation
2.2 Value Chain Analysis
2.3 Market Drivers & Restraints
2.4 Nitric Acid – Porter’s Analysis
2.5 Nitric Acid – SWOT Analysis
2.6 Nitric Acid – Company Market Share Analysis
Chapter 3 Nitric Acid Market Size, By Application
3.1 Aluminum Nitrate
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Chapter 4 Nitric Acid Market Size, By Region
4.1 North America
4.3 Asia Pacific
Chapter 5 Key Company Profiles
5.2 Apache Nitrogen Products
5.4 Cherokee Nitrogen
5.5 Coffeyville Resources
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