Nitric Acid Market Report and Forecast 2025-2034
Market Report I 2025-08-12 I 175 Pages I EMR Inc.
The global nitric acid market reached a value of about USD 26.99 Billion in 2024. The industry is further expected to grow at a CAGR of about 3.00% in the forecast period of 2025-2034 to reach a value of around USD 36.27 Billion by 2034.
North America to be one of the Leading Regions for the Global Market
The North America region is expected to see substantial growth in the forecast period due to the presence of a significant number of multinational chemical manufacturers in the United States. The nitric acid market is likely to further represent high growth due to the rapid development of industries including construction , automotive, agriculture and furniture . These industries demand high-quality nitric acid for the production of fertilizers and nylon. In addition, there has been a growing demand for ammonium nitrate from the mining industry to develop explosives, which, in turn, is driving overall market development. There was slight decline in the market growth due to the COVID-19 restrictions on industries, however, the demand started rising towards the end of 2020 and is likely to witness healthy growth in the coming years.
Asia Pacific to Witness Robust Growth in the Coming Years
Asia-Pacific is expected to be among the leading region in the manufacture of nitric acid. This is because China is the largest manufacturer and user of fertilizers. In countries like China and India, the market for nitric acid has steadily increased. Asia-Pacific is projected to witness the fastest growth in the coming years, with rising demand from end-users such as fertilizers, inks , and the chemical processing industries.
Nitric Acid: Market Segmentation
Nitric acid, also referred to as aqua fortis and spirit of niter, is a highly corrosive mineral acid. The pure compound is colourless, however older samples appear to be cast yellow due to decay into nitrogen oxides and water. On being combined with hydrochloric acid, an element known as aqua regia is formed.
Based on concentration, the industry can be divided into:
- Dilute Nitric Acid (68%)
- Concentrated Nitric Acid (69%-71%)
The product finds wide applications in the following:
- Fertilizers
- Adipic Acid
- Nitrobenzene
- Toluene Di-Isocyanate (TDI)
- Nitrochlorobenzene
- Ammonium Nitrate
- Others
The end-uses of the product can be segmented as follows:
- Agrochemicals
- Explosives
- Chemical
- Mining
- Others
Based on region, the industry can be divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Rising Demand for Fertilisers the Market Growth
The growth of the nitric acid market can be attributed to the rising demand of the product in the end-use industries. The rising use of nitric acid in the manufacturing of various agrochemicals including ammonium nitrate (AN), urea ammonium nitrate, and calcium ammonium nitrate is likely to boost its demand in the market. The demand for fertilizers due to high demand for high crop yields to reflect the increasing need for crops is expected to be a crucial driver of nitric acid market during the forecast era. Its derivative, ammonium nitrate, is mainly used in explosives, and increased demand for explosives in the military and defence industries is expected to increase the growth of the global nitric acid industry. Other factors boosting the market growth include the rising disposable incomes of the consumers and the rising adoption of modern agricultural techniques.
Key Industry Players in the Global Nitric Acid Market
The report gives a detailed analysis of the following key players in the global nitric acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BASF SE
- Columbus Chemicals
- Deepak Fertilisers and Petrochemicals Corporation Ltd
- Mitsubishi Chemical Corporation
- Nutrien Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Nitric Acid Market Analysis
5.1 Key Industry Highlights
5.2 Global Nitric Acid Historical Market (2018-2024)
5.3 Global Nitric Acid Market Forecast (2025-2034)
5.4 Global Nitric Acid Market by Concentration
5.4.1 Dilute Nitric Acid (68%)
5.4.1.1 Historical Trend (2018-2024)
5.4.1.2 Forecast Trend (2025-2034)
5.4.2 Concentrated Nitric Acid (69%-71%)
5.4.2.1 Historical Trend (2018-2024)
5.4.2.2 Forecast Trend (2025-2034)
5.5 Global Nitric Acid Market by Application
5.5.1 Fertilizers
5.5.1.1 Historical Trend (2018-2024)
5.5.1.2 Forecast Trend (2025-2034)
5.5.2 Adipic Acid
5.5.2.1 Historical Trend (2018-2024)
5.5.2.2 Forecast Trend (2025-2034)
5.5.3 Nitrobenzene
5.5.3.1 Historical Trend (2018-2024)
5.5.3.2 Forecast Trend (2025-2034)
5.5.4 Toluene Di-Isocyanate (TDI)
5.5.4.1 Historical Trend (2018-2024)
5.5.4.2 Forecast Trend (2025-2034)
5.5.5 Nitrochlorobenzene
5.5.5.1 Historical Trend (2018-2024)
5.5.5.2 Forecast Trend (2025-2034)
5.5.6 Ammonium Nitrate
5.5.6.1 Historical Trend (2018-2024)
5.5.6.2 Forecast Trend (2025-2034)
5.5.7 Others
5.6 Global Nitric Acid Market by End Use
5.6.1 Agrochemicals
5.6.1.1 Historical Trend (2018-2024)
5.6.1.2 Forecast Trend (2025-2034)
5.6.2 Explosives
5.6.2.1 Historical Trend (2018-2024)
5.6.2.2 Forecast Trend (2025-2034)
5.6.3 Chemical
5.6.3.1 Historical Trend (2018-2024)
5.6.3.2 Forecast Trend (2025-2034)
5.6.4 Mining
5.6.4.1 Historical Trend (2018-2024)
5.6.4.2 Forecast Trend (2025-2034)
5.6.5 Others
5.7 Global Nitric Acid Market by Region
5.7.1 North America
5.7.1.1 Historical Trend (2018-2024)
5.7.1.2 Forecast Trend (2025-2034)
5.7.2 Europe
5.7.2.1 Historical Trend (2018-2024)
5.7.2.2 Forecast Trend (2025-2034)
5.7.3 Asia Pacific
5.7.3.1 Historical Trend (2018-2024)
5.7.3.2 Forecast Trend (2025-2034)
5.7.4 Latin America
5.7.4.1 Historical Trend (2018-2024)
5.7.4.2 Forecast Trend (2025-2034)
5.7.5 Middle East and Africa
5.7.5.1 Historical Trend (2018-2024)
5.7.5.2 Forecast Trend (2025-2034)
6 North America Nitric Acid Market Analysis
6.1 United States of America
6.1.1 Historical Trend (2018-2024)
6.1.2 Forecast Trend (2025-2034)
6.2 Canada
6.2.1 Historical Trend (2018-2024)
6.2.2 Forecast Trend (2025-2034)
7 Europe Nitric Acid Market Analysis
7.1 United Kingdom
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Germany
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 France
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Italy
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Others
8 Asia Pacific Nitric Acid Market Analysis
8.1 China
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Japan
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 India
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 ASEAN
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
8.5 Australia
8.5.1 Historical Trend (2018-2024)
8.5.2 Forecast Trend (2025-2034)
8.6 Others
9 Latin America Nitric Acid Market Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Argentina
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Mexico
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Others
10 Middle East and Africa Nitric Acid Market Analysis
10.1 Saudi Arabia
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 United Arab Emirates
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
10.3 Nigeria
10.3.1 Historical Trend (2018-2024)
10.3.2 Forecast Trend (2025-2034)
10.4 South Africa
10.4.1 Historical Trend (2018-2024)
10.4.2 Forecast Trend (2025-2034)
10.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Trade Data Analysis (HS Code: 288)
13.1 Major Importing Countries
13.1.1 By Volume
13.1.2 By Value
13.2 Major Exporting Countries
13.2.1 By Volume
13.2.2 By Value
14 Price Analysis
14.1 North America Historical Price Trends (2018-2024) and Forecast (2025-2034)
14.2 Europe Historical Price Trends (2018-2024) and Forecast (2025-2034)
14.3 Asia Pacific Historical Price Trends (2018-2024) and Forecast (2025-2034)
14.4 Latin America Historical Price Trends (2018-2024) and Forecast (2025-2034)
14.5 Middle East and Africa Historical Price Trends (2018-2024) and Forecast (2025-2034)
15 Competitive Landscape
15.1 Supplier Selection
15.2 Key Global Players
15.3 Key Regional Players
15.4 Key Player Strategies
15.5 Company Profiles
15.5.1 BASF SE
15.5.1.1 Company Overview
15.5.1.2 Product Portfolio
15.5.1.3 Demographic Reach and Achievements
15.5.1.4 Certifications
15.5.2 Columbus Chemicals
15.5.2.1 Company Overview
15.5.2.2 Product Portfolio
15.5.2.3 Demographic Reach and Achievements
15.5.2.4 Certifications
15.5.3 Deepak Fertilisers and Petrochemicals Corporation Ltd
15.5.3.1 Company Overview
15.5.3.2 Product Portfolio
15.5.3.3 Demographic Reach and Achievements
15.5.3.4 Certifications
15.5.4 Mitsubishi Chemical Corporation
15.5.4.1 Company Overview
15.5.4.2 Product Portfolio
15.5.4.3 Demographic Reach and Achievements
15.5.4.4 Certifications
15.5.5 Nutrien Ltd.
15.5.5.1 Company Overview
15.5.5.2 Product Portfolio
15.5.5.3 Demographic Reach and Achievements
15.5.5.4 Certifications
15.5.6 Others
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.