The global nitric acid market is expected to reach USD 30.29 Billion by 2027, according to a new report by Reports and Data. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to easily absorb the essential macro and micronutrient. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019. Of the three major fertilizer types, the U.S imports over 50.0% of U.S. nitrogen-based fertilizer supplies, making it particularly important for U.S. crop production. The growing global population trend indicates a growing demand for food, which is likely to increase in the range of 59.0% to 98.0% by 2050, and in turn, would drive the demand for nitric acid for the production of fertilizers.
Adipic acid finds substantial application in the production of nylon-66/polyamides, which is deployed in the automotive industry for use in engine covers, air intake manifolds, tires, airbag containers, and headlamp covers, among various others interior and exterior automotive parts. An increasing emphasis on the reduction of vehicular weight to increase fuel-efficiency is expected to drive the demand for nylon in the upcoming years. Moreover, nylon is suitable for high-performance applications in automobiles, such as mechanical strength, wear & abrasion, chemical & temperature resistance, flexibility, moldability, and ease of processing. Thus, the increasing demand for nylon-66, in turn, would drive the growth of the adipic acid market.
COVID-19 Impact
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of pesticides in the agricultural fields is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
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For the purpose of this report, Reports and Data have segmented the global nitric acid market on the basis of type, application, distribution channel, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/nitric-acid-market
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Nitric Acid Segmentation & Impact Analysis
4.1. Nitric Acid Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for fertilizers for high crop yield
4.2.2.2. Growing demand from the automotive industry
4.2.3. Market restraints analysis
4.2.3.1. Stringent regulatory norms
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Nitric Acid Market Type Insights & Trends
5.1. Type Model dynamics & Market Share, 2020 & 2027
5.2. Dilute Nitric Acid
5.2.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
5.2.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
5.3. Concentrated Nitric Acid
5.3.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
5.3.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
Chapter 6. Nitric Acid Market By Application Insights & Trends
6.1. Application Dynamics & Market Share, 2020 & 2027
6.2. Fertilizers
6.2.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
6.2.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
6.3. Adipic Acid
6.3.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
6.3.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
6.4. Nitrobenzene
6.4.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
6.4.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
6.5. Toluene Di-Isocyanate
6.5.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
6.5.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
6.6. Others
6.6.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
6.6.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
Chapter 7. Nitric Acid Market By Distribution Channel Insights & Trends
7.1. Distribution Channel Dynamics & Market Share, 2020 & 2027
7.2. Online
7.2.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
7.2.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
7.3. Offline
7.3.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
7.3.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
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Chapter 9. Competitive Landscape 9.1. Market Revenue Share by Manufacturers 9.2. Manufacturing Cost Breakdown Analysis 9.3. Mergers & Acquisitions 9.4. Market positioning 9.5. Strategy Benchmarking 9.6. Customer Mapping 9.7. Vendor Landscape Chapter 10. Company Profiles 10.1. BASF SE 10.1.1. Company Overview 10.1.2. Financial Performance 10.1.3. Technology Insights 10.1.4. Strategic Initiatives 10.2. Linde Group 10.2.1. Company Overview 10.2.2. Financial Performance 10.2.3. Technology Insights 10.2.4. Strategic Initiatives 10.3. Yara International 10.3.1. Company Overview 10.3.2. Financial Performance 10.3.3. Technology Insights 10.3.4. Strategic Initiatives 10.4. Potash Corp. 10.4.1. Company Overview
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