Concentrated Nitric Acid Market Share

APAC Market Forecast

Concentrated nitric acid market in Asia Pacific is predicted to account for the largest share of 38% by 2037 impelled by the growing construction sector. This has led to an increase in demand for concentrated nitric acid in the region since it is crucial for the construction industries, as a crucial ingredient in the production of explosives which are widely employed in the construction sector for the creation of new roads, the excavation of land for building foundations or basement spaces, and demolition operations. By 2025, it is anticipated that India's construction market will be worth more than USD 1 trillion.

North American Market Statistics

North America concentrated nitric acid market is estimated to hold the second largest share of 28% during the forecast timeframe led by increased demand for ammonia nitrate and fuel oil ANFO, which acts as an oxidizer and fuel absorbent during the production of explosives. According to the US Geographical Survey, in the North America, United States, approximately 80% of explosives are mixed with ANFO.