Concentrated Nitric Market Segmentation:
Type Segment Analysis
The strong nitric acid segment is predicted to gain the largest market share of 57.6% during the projected period, driven by its wide-ranging industrial and pharmaceutical applications. Produced by dissolving additional nitrogen dioxide into 68% nitric acid within an absorption tower, strong nitric acid is a key raw material in the synthesis of various chemical intermediates. It is extensively employed in the production of ammonium nitrate, toluene diisocyanate, nitrobenzene, TNT, nitro chlorobenzene, and adipic acid. The growing demand for explosives, particularly from the mining and construction sectors, has significantly boosted the consumption of strong nitric acid. Additionally, its role in manufacturing high-performance polymers and synthetic fibers contributes to its market dominance. A notable player in this segment is Mitsubishi Chemical, a manufacturer that supplies high-purity nitric acid for industrial applications. The company’s robust production infrastructure and commitment to safety and environmental standards enable it to meet rising domestic and global efficiency.
End use Segment Analysis
The agricultural industry is expected to hold a substantial share in the global concentrated nitric acid market during the forecast period. This expansion is mainly due to the rising recognition and utilization of chemical fertilizers to enhance agricultural productivity. As the global population continues to rise, the demand for food is leading to greater reliance on concentrated nitric acid-based fertilizers such as calcium ammonium nitrate and urea ammonium nitrate.
Nitric acid is also a key ingredient in the production of nitrobenzene, which is used in manufacturing pesticides that protect crops and improve productivity. Additionally, increased research & development in chemical fertilizers is driving innovation in formulation and efficiency, further strengthening market demand for concentrated nitric acid in agriculture. Toyo Engineering, a Japanese agrochemical company, uses concentrated nitric acid in the formulation of high-efficiency fertilizers, supporting Japan’s sustainable agriculture initiatives and contributing to enhanced crop productivity.
Fertilizers Segment Analysis
The fertilizers segment is expected to hold a substantial share of the concentrated nitric acid market, primarily propelled by the increasing demand for nitrogen-rich fertilizers like ammonium nitrate. This demand is driven by the necessity to enhance agricultural productivity in response to escalating global food needs. As reported by the Food and Agriculture Organization (FAO), global fertilizer usage has risen by 3% annually over the past decade to maintain crop yields. Concentrated nitric acid plays a crucial role in the production of high-quality fertilizers, particularly in developing areas that prioritize food security and sustainable agricultural practices.
Our in-depth analysis of the market includes the following segments:
|
Segment |
Subsegment |
|
Type |
|
|
End-use |
|
|
Application |
|
