Nitric Acid Market By Production Process (Ostwald Process, Ostwald-Raschig Process), Concentration (Concentrated Nitric Acid (?70%), Dilute Nitric Acid (<70%)), End-User Industry (Agrochemicals, Explosives), & Region for 2024-2031

Nitric Acid Market Valuation – 2024-2031

The increasing demand for nitric acid is mostly due to its critical function in fertilizer manufacture. Nitric acid is an important component in the production of ammonium nitrate, a vital ingredient in fertilizers. As the world’s population grows, so does the demand for food resulting in increased demand for fertilizers to raise crop yields. This agricultural necessity fuels the nitric acid market. Farmers use fertilizers to increase soil fertility and improve the quality and quantity of their produce by enabling the market to surpass a revenue of USD 25.46 Billion valued in 2024 and reach a valuation of around USD 32.99 Billion by 2031.

Nitric acid is also used in a variety of industrial applications which adds to its expanding demand. One significant application is in the manufacture of explosives where nitric acid is a major element in compounds such as nitroglycerin and trinitrotoluene. These explosives find widespread usage in the mining, construction, and defense industries. Furthermore, nitric acid is used in the chemical manufacture of many items including colors, polymers, and medications by enabling the market to grow at a CAGR of 3.29 % from 2024 to 2031. 

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Nitric Acid Market: Definition/ Overview

Nitric acid (HNO?) is a very corrosive and reactive mineral acid. It’s a white or yellowish liquid with strong acidic qualities and a pungent odor. Nitric acid is a crucial chemical in many industrial operations including the manufacturing of fertilizers, and explosives, and as a strong oxidizing agent. It is also utilized in the production of polymers, dyes, and medications. Nitric acid can inflict severe burns and is extremely dangerous to handle without sufficient safeguards.

Nitric acid is a highly versatile chemical that finds use in a variety of sectors. One of its main applications is the manufacturing of fertilizers. Nitric acid is required for the production of ammonium nitrate, a fundamental component of many fertilizers that provide crops with important nutrients. This helps to enhance agricultural output to fulfill the growing food demand.

Future applications for nitric acid include electronics and renewable energy. Nitric acid is used in the etching and cleaning of semiconductor wafers which are essential components in the production of modern gadgets like cellphones, computers, and solar panels. As technology progresses and demand for electronic gadgets rises, the electronics sector will require more high-purity nitric acid.

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Will the Demand for Lightweight Vehicles Drive the Nitric Acid Market?

The desire for lightweight automobiles is expected to fuel expansion in the nitric acid industry. Nitric acid is essential for the creation of adipic acid, a major component in the manufacture of nylon 6,6 which is widely utilized in automotive applications due to its strength, durability, and lightweight qualities. According to research by the United States Environmental Protection Agency (EPA), light-duty cars have exhibited a constant trend of weight reduction, with the average new vehicle weighing roughly 3,900 pounds in 2021, down from around 4,000 pounds in 2011. Stringent fuel economy standards and environmental laws are driving the trend toward lighter automobiles. The US National Highway Traffic Safety Administration (NHTSA) has established Corporate Average Fuel Economy (CAFE) guidelines that require automakers

To satisfy these demands, manufacturers are increasingly using lightweight materials, such as nylon components, which has a direct impact on the need for nitric acid. Furthermore, the International Energy Agency (IEA) forecasts that worldwide electric vehicle sales will more than quadruple to 6.6 million in 2021, accounting for nearly 9% of the global auto market. As the automotive sector embraces electrification, the requirement for lightweight materials to offset battery weight and extend vehicle range grows, driving up demand for nylon and, by extension, nitric acid. According to a report from the US Department of Energy’s Vehicle Technologies Office, by 2050, lightweight materials could cut the weight.

Will Government Restrictions on HNO3 Hamper the Nitric Acid Market?

Government limitations on nitric acid (HNO3) have the potential to have a considerable impact on the worldwide nitric acid market given its vast industrial usage and national security concerns. According to the Organization for the Prohibition of Chemical Weapons (OPCW), approximately 60 million tons of nitric acid are generated globally each year, with main applications including fertilizer production, metal etching, and explosives manufacturing. The United States Environmental Protection Agency (EPA) has designated nitric acid as a hazardous material under the Clean Air Act, subject to stringent reporting and handling requirements. Nitric acid is classified as a substance of very high concern (SVHC) in the European Union due to its corrosive qualities and potential for misuse.

These regulatory initiatives are resulting in higher production costs and compliance burdens for enterprises. For example, between 2018 and 2022, the US Department of Homeland Security reported a 15% rise in security-related expenses for chemical facilities that handle nitric acid. Furthermore, export limitations established by many countries have limited worldwide trade in nitric acid. The Australian Government’s Department of Home Affairs, for example, requires special permissions to export nitric acid concentrations of more than 20% resulting in a 22% decline in Australian nitric acid exports since 2019. Despite these hurdles, the nitric acid market has proven resilient and adaptable.

Category-Wise Acumens

How will the Increasing Demand in the Construction and Mining Sectors Drive Growth in the Construction Segment?

Concentrated nitric acid (?70%) dominates the nitric acid market due to its widespread use in high-end industrial applications. Concentrated nitric acid is essential in the synthesis of fertilizers, especially ammonium nitrate which is widely used in agriculture to improve soil fertility and crop yields. The growing global population and subsequent increase in food consumption necessitate effective agricultural practices that drive demand for fertilizers and, by extension, concentrated nitric acids. Furthermore, concentrated nitric acid is essential in the chemical synthesis of many chemicals including adipic acid, a precursor to nylon manufacture. The high demand for nylon in the automotive, textile, and consumer goods industries strengthens the market for concentrated nitric acid.

In addition to its use in fertilizer production and chemical synthesis, concentrated nitric acid is required in the creation of explosives such as trinitrotoluene (TNT) and nitroglycerin. These explosives are employed in the mining, construction, and defense industries where high-performance materials are required. Concentrated nitric acid is also used extensively in the metallurgy industry for procedures such as refining and purifying valuable metals like gold and platinum. The increasing demand for these metals in a variety of industrial applications including electronics and jewelry highlights the importance of concentrated nitric acid. Concentrated nitric acid’s vast range of uses and crucial importance in high-value sectors contribute to its market dominance.

How will Reliability and Scalability Influence the Production Process Segment?

The Ostwald process is the most used method for producing nitric acid because of its efficiency, dependability, and scalability. Wilhelm Ostwald invented this process in the early twentieth century. It involves the catalytic oxidation of ammonia using a platinum or rhodium catalyst followed by the absorption of nitrogen oxides in water to make nitric acid. The Ostwald process is frequently used because it produces a high output of nitric acid while using little energy and incurring low operating costs. This technique has been refined throughout time making it extremely efficient and appropriate for large-scale industrial manufacturing. While platinum or rhodium catalysts are initially expensive, their longevity and effectiveness in sustaining high ammonia-to-nitric acid conversion rates make them worthwhile.

The Ostwald process is well-established and widely used around the world with substantial research and development activities targeted at improving its efficiency and environmental footprint. Innovations in catalyst design and reactor technology have improved the process lowering nitrogen oxide (NOx) emissions and other pollutants. The Ostwald process’s supremacy in the nitric acid market stems from the broad availability of infrastructure and expertise to support it. Furthermore, the process’s scalability to varied production sizes makes it suited for both major industrial plants and smaller facilities allowing for flexibility in meeting changing market needs. The Ostwald process’s long track record and continuing advancements solidify it as the premier method for producing nitric acid.

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Country/Region-wise Acumens

How will Government Initiatives for a Sustainable Economy Drive the Nitric Acid Market in the European Region?

The European nitric acid market is primarily driven by its widespread use in fertilizer manufacture which accounts for roughly 75-80% of total consumption. This dominance is projected to persist impacting market trends and government actions in the area. Government attempts to promote a sustainable economy are expected to have a substantial impact on Europe’s nitric acid business. The European Union’s Green Deal announced in 2019 intends to make Europe climate-neutral by 2050, with far-reaching ramifications for a variety of industries including nitric acid production and consumption. According to the European Environment Agency, the agriculture sector, which is a significant consumer of nitric acid-based fertilizers, accounts for around 10% of total EU greenhouse gas emissions.

This program is expected to drive innovation in the nitric acid sector promoting more sustainable manufacturing processes and alternate applications. For example, the European Commission says that investments in research and development for green ammonia synthesis, a critical component in nitric acid generation have increased by 50% since 2020. Furthermore, the EU’s Circular Economy Action Plan highlights the importance of resource efficiency and recycling which may raise demand for nitric acid in metal recycling operations. The European Chemical Sector Council (CEFIC) forecasts that the chemical sector, particularly nitric acid manufacturing may reduce greenhouse gas emissions by up to 60% by 2050 through technological advancements and circular economy practices.

Will High Demand for Nitrogenous Fertilizers Drive the Market in the North American Region?

The North American nitric acid market is expected to increase at a 3.5% CAGR between 2021 and 2026 with the United States being the fastest-growing category in the area. This expansion is mostly driven by the rising demand for nitrogenous fertilizers in agriculture. The increasing need for nitrogenous fertilizers is a major driver of the nitric acid industry in North America. According to the USDA, nitrogen-based fertilizers account for roughly 59% of overall fertilizer use in the United States. According to the USDA’s Economic Research Service, nitrogen fertilizer consumption in the United States has climbed from approximately 2 million nutrient tons in 1960 to more than 12 million nutritional tons in recent years.

This significant increase in nitrogen fertilizer usage has a direct impact on the demand for nitric acid, which is a vital raw ingredient in the synthesis of ammonium nitrate, a popular nitrogen fertilizer. The US Geological Survey (USGS) estimates that approximately 79% of nitric acid produced in the United States is used in fertilizer production. Furthermore, the Food and Agriculture Organization (FAO) predicts that worldwide fertilizer use will rise by 1.4% each year until 2025, with nitrogen fertilizers accounting for the majority of this increase.

Competitive Landscape

The nitric acid market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the nitric acid market include:

• DuPont
• CF Industries Holdings, Inc.
• The Chemours Company
• LSB Industries, Inc.
• Koch Fertilizer, LLC
• PotashCorp
• Nutrien
• Yara International ASA
• EuroChem Group AG
• OCI Nitrogen
• CF Fertilisers UK Ltd.
• Group DF
• Uralchem Jsc
• BASF

Latest Developments

• In July 2022, Nutrien Ag Solutions reached a deal to acquire Casa do Adubo S.A., a Brazilian company. This deal will include 39 retail outlets and 10 distribution facilities under the brands Casa do Adubo and Agrodistribuidor Casal, respectively. The partnership complements Nutrien’s retail growth plan in Brazil and is estimated to boost revenues by USD 400 Million.
• In January 2023, Grupa Azoty doubled its nitric acid manufacturing capacity with the opening of a new facility in Tarnów. This new production facility will raise the company’s annual capacity to 40,000 tons and expand the manufacturing line for nitric acid with a concentration of more than 98%.

Report Scope

Nitric Acid Market, By Category

Production Process:

• Ostwald Process
• Ostwald-Raschig Process
• Dual-Pressure Process
• Other Processes

Concentration:

• Concentrated Nitric Acid (?70%)
• Dilute Nitric Acid (<70%)

End-User Industry:

• Agrochemicals
• Explosives
• Chemical Intermediates
• Metallurgy
• Electronics
• Automotive
• Pharmaceuticals
• Others

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

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