Global Nitric Acid Market: Fertilizer Segment Pushes the Market to Gain US$16,105.9 Mn Revenue by the end of 2022


Published on : Nov 24, 2017

Albany, New York, November 24, 2017: Currently, the market for nitric acid is motivated by its prime application in the manufacturing of fertilizers. To gain precise market insight and better knowledge about the industry facets, a new study has been added to the vast repository of research reports managed by Market Research Hub (MRH). This report titled “Nitric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022”, accurately tracks the variations in regulatory landscape and progresses in technologies relating to the commercial production of nitric acid. Furthermore, the research delivers a clear insight about the projections prevailing in the market for the forecast period during 2017–2022. 

Presently, the use of nitric acid is quite notable in the chemical and pharmaceutical industries. One of the most common utility of nitric acid is focused on the preparation of fertilizer, which directly impacts its demand on the global scale. As per active statistics, the worldwide market for nitric acid is projected to acquire a value of US$16,839.5 Mn by 2017. Furthermore, analysts anticipate growth at 3.9% CAGR during the period between 2017 and 2022; during this period the market showcases positive signs to reach a revenue mark of US$20,420.8 Mn.

The first section of this smart report talks about the executive summary and market overview. This portion discusses factors such as market taxonomy and market definition along with market size and Y-o-Y growth. In order to understand the primary market dynamics, the report has covered a separate segment with an aim to enlighten the readers in a simplistic manner. One of the major drivers for the nitric acid market is the substantial application of nitric acids in the manufacturing of dyes and perfumes as well as sulfuric acid.

Further, the report offers an accurate market segmentation based on application, end use and region. Focusing on the end use, the report segments the market into nitrobenzene, fertilizers, toluene diisocyanate, metal processing, adipic acid and others. Among these, the fertilizers segment is anticipated to acquire a worth of US$16,105.9 Mn by the end of 2022. Based on region, the global market for nitric acid is studied across Latin America, the Middle East and Africa, North America, Europe, Asia Pacific excluding Japan, and Japan. It has been analyzed that, Europe leads the global market with the possession of the maximum revenue share. 

In the concluding section of the report, the readers are rewarded with a detailed overview targeting the competitive landscape. Some of the major players operating in the sector include BASF SE, Eurochem Group, The Chemours Company, Potash Corp and Dyno Nobel. 

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