The global nitric acid market is projected to grow at a CAGR of over 6% during 2016-2025, on the back of implementation of stringent regulations related to greenhouse gas pollution control, expanding ammonium nitrate and calcium ammonium nitrate industries and growing demand for explosives from mining and construction sectors. Europe is the largest consumer of nitric acid across the globe.
Rising demand for nitric acid across the globe can be attributed to its widespread use in production of chemicals such as ammonium nitrate, calcium ammonium nitrate, nitrobenzene, adipic acid, toluene di isocynate etc., used in fertilizers, polyurethanes, pharmaceuticals and other end user industries. Growing demand for ammonium nitrate fertilizers is projected to emerge as a key driver in the global nitric acid market.
Increasing need for high crop yield in order to address the growing demand for food has prompted consumption of synthetic fertilizers over the past few years. Large availability of agricultural land and supportive government policies have positively influenced expansion of agriculture sector across the globe. This is anticipated to augur well for global nitric acid demand, as the chemical is used for production of ammonium nitrate, a key constituent of nitrogenous fertilizers.
However, rapid industrialization in APAC are projected to drive robust growth in demand for nitric acid and its derivatives in the region in the ensuing years. Few of the major players operating in global nitric acid market include LSB Industries, Yara International, CF Industries, Deepak Fertilizer, Petrochemicals Corporation Limited, etc.
Scope of the Report
- Global Nitric Acid Market Size, Share & Forecast
- Segmental Analysis - By Plant Type (Dual Pressure & Mono Pressure), By Sales Channel (Direct & Indirect), By Application (Ammonium Nitrate & Calcium Ammonium Nitrate, Nitrobenzene, Toluene Di Isocyanate, Adipic Acid, Tri Nitro Toluene, & Others), By Region (Europe, Asia-Pacific, North America, South America, and Middle East & Africa)
- List of Technology Partners for All Major Plants
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Market Trends & Developments
- Reduction of Nitrogen Oxide Emissions
- Rising Use in Nanotechnology Applications
- Recovery of Noble Metals
- Increasing Application of Nitric Acid in Wet Acid Digestion for Wastewater Treatment
- Rising Popularity of 'Clean in Place'' Concept
- Potential Detection Tool Against Narcotics
- Relocation of Production facilities from Western Countries to Asia-Pacific
- Production Capacity Expansions
- Agrium Inc.
- Apache Nitrogen Products, Inc
- BASF SE
- BagfasBandirmaGubreFabrikalari A.S.
- Borealis AG
- CF Industries Holdings, Inc.
- CVR Partners, LP (Rentech, Inc.)
- Deepak Fertilisers and Petrochemicals Corporation Limited
- ENAEX SE
- GrupaAzoty S.A.
- J R Simplot
- LSB Industries Inc.
- Omnia Holdings
- Potash Corporation of Saskatchewan Inc.
- Rashtriya Chemicals and Fertilizers Ltd.
- SKW StickstoffwerkePiesteritz GmbH(AGROFERT, a.s.)
- Sasol Limited
- Ube Industries Limited
- Yara International ASA
For more information about this report visit http://www.researchandmarkets.com/research/kjqcfz/global_nitric
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