Concentrated Nitric Acid Market Trends

Growth Drivers

Growing Production of Chemicals – Increasing demand for concentrated nitric acid from the chemicals industry is expected to boost the market growth. Moreover, concentrated nitric acid is used as raw material for the synthesis and development of several chemicals. In 2023, it is anticipated that global chemical production (excluding medicines) will increase by more than 1%.
Rising Sales of Automobiles - Concentrated nitric acid is used for synthetic rubbers and an increase in consumption of synthetic rubbers in automobiles is estimated to boost the market growth. Besides this, it is also used in manufacturing several automotive parts, leading to higher demand. For instance, global auto sales reached over 66 million units sold in 2021.

Challenges

Stringent Government Regulations - Strict government regulations are one of the major growth-hindering factors. According to the United States Government's Office of Publications, under Title 49 CFR 173.158, nitric acid of more than 40 % of concentration cannot be carried with any other material and should not contain impurities such as hydrochloric chloride or sulphuric acid SOH during transport by road or rail.
Environmental Concerns
Harmful Effects of Nitric Acid

Concentrated Nitric Acid Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	3.6%
Base Year Market Size (2024)	USD 26.64 billion
Forecast Year Market Size (2037)	USD 44.85 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of concentrated nitric acid is assessed at USD 27.39 billion.

The concentrated nitric acid market size was over USD 26.64 billion in 2024 and is poised to reach USD 44.85 billion by the end of 2037, witnessing around 3.6% CAGR during the forecast period i.e., between 2025-2037. Rising demand for concentrated nitric acid from agrochemicals industry and the growing demand in household cleaning products will boost the market growth.

North America industry is estimated to hold 28% revenue share by 2037, led by increased demand for ammonia nitrate and fuel oil ANFO, which acts as an oxidizer and fuel absorbent during the production of explosives.

The major players in the market include 3M, Yara, Nutrien Ltd., BASF SE, Dow Inc., DuPont, Sika AG, C.F. Fertilisers U.K., Innospec, Dorf Ketal Chemicals (I) Pvt. Ltd., PMC Specialties Group, Clariant, Deepak Fertilisers And Petrochemicals Corporation Limited (DFPCL).

Concentrated Nitric Acid Market Trends