글로벌 질산 시장 – 2029년까지의 산업 동향 및 예측

글로벌 질산 시장 분석 및 규모

질산은 일반적으로 다양한 농약 생산에 사용됩니다. 질산은 신체, 특히 눈과 코에 접촉하면 독성이 있고 부식성이 있습니다. 질산은 눈, 피부 및 점막에 자극을 일으킵니다.

• Data Bridge Market Research는 2021년에 239억 7천만 달러였던 질산 시장 가치가 2029년까지 322억 5천만 달러에 도달할 것으로 예측하고 있으며, 이는 예측 기간 동안 7.40%의 CAGR입니다. "비료"는 농업 의존 지역이나 경제에서 농약에 대한 수요가 증가함에 따라 질산 시장에서 가장 두드러진 응용 분야를 차지합니다. Data Bridge Market Research 팀이 큐레이팅한 시장 보고서에는 심층적인 전문가 분석, 수입/수출 분석, 가격 분석, 생산 소비 분석 및 기후 사슬 시나리오가 포함되어 있습니다.

글로벌 질산 시장 정의

HNO3의 화학식을 가진 질산은 다양한 산업 응용 분야에서 사용되는 강력한 미네랄이자 매우 독성이 강한 산입니다. 질산은 안료, 염료 및 페인트 생산에 사용됩니다. 순수한 형태로 사용할 때는 무색이고 산화물과 혼합하면 분해되면 옅은 노란색이 됩니다.    

보고 범위 및 시장 세분화

Market Dynamics of the Nitric Acid Market Include:

• Growth and expansion influenced the market growth

Growth and expansion of all the end user verticals promoted the direct and indirect growth of this market. Surging demand for to manufacture nylon 6,6 which find its application in the manufacturing of automotive parts, such as body panel, gears, and others will create ample of opportunities for the market in the long run.      

• Growing awareness to direct the market demand and supply

Increased awareness about the benefits of nitric acid is inducing increased demand and application by the small and medium scale enterprises. Over 80% of nitric acid is used in manufacturing fertilizers and growing demand for fertilizers all around the globe is a positive sign. This in turn is bolstering the growth of the market.   

• Rising research and development operations

Increased funding from federal government pertaining to the research and development proficiencies is also bolstering the growth of the market. Research and developmental operations directed towards sustainable development will ensure optimum and judicious use of resources, thereby improving the market value. 

• Rise in the technological advancements

Rising technological advancements pertaining to the manufacturing technology is further inducing growth in the market value. Increasing number of technological advancements driven with a view to minimize the production costs and wastage coupled with growth in industrialization has increased the use of roofing materials for sustaining the efficiency of machinery is further ensuring a bright future for the market.

• Surge in demand from the agricultural industry

Growing demand for nitric acid by the agricultural industry has further proved to be a boon for the market. Increased production of fertilizers, pesticides, insecticides, and other agrochemicals is expected to create ample of opportunities for the market. Fertilizers, such as ammonium nitrate and calcium ammonium nitrate, are produced from nitric acid.

Restraints/Challenges faced by the Nitric Acid Market

• Fluctuating prices  

Fluctuations or volatility in the prices of raw materials and machinery equipment is posing a major threat to the growth of the market. Further, uneven availability of raw materials at one particular location is demeaning the growth of the market.  Availability of alternatives in the market at an affordable range will further derail the market growth rate.

• Health issues

Growing number of health-related hazards caused by nitric acid will challenge the growth rate of the market in the long run. Also, competition from organic agrochemicals will create hindrances in the way of growth for the market. Also, unfavorable conditions arising due to the COVID-19 outbreak will impede the market growth rate.  

• Norms, standards and regulations

Imposition of stringent regulations by the government on a wide range of industrial applications pertaining to the production of fertilizers and the use of nitric acid in agrochemicals will further slowdown the market growth rate. Lack of standardization norms will further worsen the market situation.   

This nitric acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the nitric acid market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.  

COVID-19 Impact on Nitric Acid Market

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Several countries such as China, India, Brazil and many more imposed lockdown in this face which led to the shutdown of production and manufacturing facilities. The mining activities were stopped temporarily during the lockdown to curb the spread of COVID-19 and nitric acid is largely used in mining and exploration activities. Supply chain of numerous manufacturing units was adversely affected in this period leading to a major drop in the revenues and profits. However, with the increasing relaxations, a rise in import and export is significantly expected. Respective governing authorities are beginning to lift these enforced lockdowns which is a positive sign for the market. 

Recent Developments

• In October 2020, LSB INDUSTRIES signed a new long-term nitric acid supply contract with a customer for supplying about 70 to 100 kilotons of nitric acid per year, thereby, enhancing the company's nitric acid business.

Global Nitric Acid Market Scope

The nitric acid market is segmented on the basis of product type, grade, concentration, application and end use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type  

• Fuming
• Non- Fuming

On the basis of product type, the nitric acid market is segmented into fuming and non- fuming.

Grade

• Commercial
• Others

On the basis of grade, the nitric acid market is segmented into commercial and others.

Concentration  

• Dilute Nitric Acid (68%)
• Concentrated Nitric Acid (69%-71%)

On the basis of concentration, the nitric acid market is segmented into dilute nitric acid (68%) and concentrated nitric acid (69%-71%).

Application

• Fertilizers
• Ammonium Nitrate
• Nitrobenzene
• Toluene Di-isocynate
• Adipic Acid
• Nitro Chlorobenzene
• Polyurethanes
• Polyamides
• Others

On the basis of application, the nitric acid market is segmented into fertilizers, ammonium nitrate, nitrobenzene, toluene di-isocynate, adipic acid, nitro chlorobenzene, polyurethanes, polyamides and others.

End use industry

• Agrochemicals
• Explosives
• Chemicals
• Mining
• Others

On the basis of end use industry, the nitric acid market is segmented into agrochemicals, explosives, chemicals, mining and others.

Nitric Acid Market Regional Analysis/Insights

The nitric acid market is analyzed and market size insights and trends are provided by country, product type, grade, concentration, application and end use industry as referenced above.

The countries covered in the nitric acid market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the nitric acid market and will continue to flourish its dominance during the forecast period owing to the large scale production of fertilizers in this region, growth and expansion of end user verticals in this region, abundant availability of raw materials and surging growth of agricultural industry.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Nitric Acid Market Share Analysis

The nitric acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nitric acid market.

Some of the major players operating in the nitric acid market are:

• Yara (Norway)
• Nutrien Ltd. (Canada)
• BASF SE (Germany)
• 3M (U.S.)
• Dow (U.S.)
• DuPont (U.S.)
• LSB INDUSTRIES (US)
• Sika AG (Switzerland)
• CF Fertilisers UK. (UK)
• Innospec (U.S.)
• ADEKA CORPORATION (Japan)
• Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.)
• PMC Specialties Group (U.S.)
• Afton Chemical (U.S.)
• The Lubrizol Corporation (U.S.)
• Clariant (Switzerland)
• LANXESS (Germany)
• Mayzo, Inc. (U.S.)
• Solvay (Belgium)
• Akzo Nobel N.V. (Netherlands)
• Arkema (France)
• Eastman Chemical Company (U.S.)  

Research Methodology : Global Nitric Acid Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

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