Concentrated Nitric Acid Market Size, Share and Trends 2024 to 2034

Concentrated Nitric Acid Market Size and Forecast 2024 to 2034

The global concentrated nitric acid market size is worth around USD 27.11 billion in 2024 and is anticipated to reach around USD 38.36 billion by 2034, growing at a CAGR of 3.53% over the forecast period 2024 to 2034. The benefits of nitric acid include being used in manufacturing explosives, fertilizers, rocket propulsion, wart removal, chemical doping agents, and pharmaceuticals for health benefits, driving the growth of the market.

Concentrated Nitric Acid Market Key Takeaways

• Asia Pacific dominated the concentrated nitric acid market with the largest market share of 37% in 2023.
• North America is estimated to be significantly growing during the forecast period of 2024-2034.
• By type, the strong nitric acid segment dominated the market in 2023.
• By type, the fuming nitric acid segment is expected to grow at a significant rate during the forecast period.
• By application, the fertilizers segment dominated the market in 2023.
• By application, the explosives segment is expected to grow significantly during the forecast period.
• By end-use, the agriculture segment dominated the concentrated nitric acid market in 2023.
• By end-use, the chemical segment is expected to grow at a significant rate during the forecast period.

Asia Pacific Concentrated Nitric Acid Market Size and Growth 2024 to 2034

The Asia Pacific concentrated nitric acid market size was exhibited at USD 9.69 billion in 2023 and is projected to be worth around USD 14.39 billion by 2034, poised to grow at a CAGR of 3.66% from 2024 to 2034.

Asia Pacific dominated the concentrated nitric acid market in 2023 and is expected to be the fastest growing during the forecast period of 2024-2034. India and China are the leading countries for the growth of the market in the Asia Pacific region. China and India are the most populated countries, and there is a need for food, which leads to rising concentrated nitric acid demand. In India, nearly 50% of the area is agriculturally based. In the Asia Pacific region, the number of concentrated nitric acid manufacturing units is increasing. Increased demand for concentrated nitric acid is due to industrialization in the Asia Pacific region.

• In November 2023, in Gujrat, India, the second plant using KBR’s proprietary MAGNAC® CNA (concentrated nitric acid) technology was successfully commissioned by KBR in collaboration with Gujrat Narmada Valley Fertilizers & Chemicals Ltd. The plant was designed for an output capacity of 150 metric tons per day of concentrated nitric acid that uses sustainable technologies, recycles process water without treatment, helps reduce emissions, and enhances energy efficiency.

North America is estimated to be significantly growing during the forecast period of 2024-2034. Rising industrialization with established manufacturing facilities of polyurethane foams, explosives, fertilizers, agrochemicals, etc. Many industrial applications like agrochemicals, automotive, building, and construction are the main factors that boost the concentrated nitric acid market in the North American region. Increasing use in chemical industries led to its use in many polymer manufacturing processes, including polyamides and polyurethane, contributing to the market flow.

• In April 2024, Genesis Fertilizers and ThyssenKrupp Uhde signed a Pre-FEED (front-end engineering and design) deal to build an integrated fertilizer complex in Belle Plaine, Saskatchewan, Canada. The planned facility was intended to generate 1500 MTPD of ammonia, 2600 MTPD of urea/UAS granulation, and UAN in addition to having the capacity to create DEF (Diesel Exhaust Fluid).

Market Overview

The concentrated nitric acid market refers to sellers and buyers of concentrated nitric acid, which is a colorless acid in its pure form that gets a yellowish shade on long storage. Concentrated nitric acid is a solution of 68% nitric acid by mass in aqueous solution. Concentrated nitric acid is commercially available and has a boiling temperature of 249°F (120.5°C) at 1 atm. It is a versatile and powerful chemical with many applications. The chemical and industrial applications of concentrated nitric acid (HNO3) are key components in the manufacturing of explosives like trinitrotoluene (TNT), fertilizer production, plastic and dye manufacturing, passivation of metals, etc.

Concentrated Nitric Acid Market Growth Factors

• The applications of concentrated nitric acid in the chemical and industrial sectors include the passivation of metals, liquid-fueled rockets that act as oxidizers, plastic and dye manufacturing, etc.
• It is also used in ammonium nitrates, which are essential for fertilizer production and the production of explosives like trinitrotoluene (TNT).
• Concentrated nitric acid is a strong acid corrosive to metals and reacts with bases. It has a pH less than 7.
• Fuming nitric acid is a concentrated nitric acid that contains dissolved nitrogen dioxide. These factors help to the growth of the concentrated nitric acid market.

How is AI changing the Concentrated Nitric Acid?

Artificial intelligence (AI) has many applications in handling and using concentrated nitric acid, mainly in the industrial and research sectors. AI is helpful in safety monitoring and process optimization for nylon precursors, fertilizers, and explosives. In predictive maintenance, preventing accidents, automation, quality control to ensure the concentration and purity of nitric acid, and analysis of samples. These factors help to the growth of the concentrated nitric acid market.

• In January 2024, a new, unconventional, powerful artificial intelligence (AI) based tool that can reimagine the sustainability of the chemical manufacturing industry was created by a WVU (West Virginia University) engineer.

Market Scope

Market Dynamics

Driver

Rising demand in many industries

In many industries, there is an increased demand for concentrated nitric acid in pharmaceutical and laboratory applications. It is used in the pharmaceutical industries for the synthesis of many drugs and pharmaceutical intermediates. In dyes, colorants, and pigments, it is used, which helps the growth of the concentrated nitric acid market. It plays an important role in the metal refining and etching process. Concentrated nitric acid plays an important role in explosives and fertilizers. Electrochemists use it as a chemical doping agent.

• According to the Nitric Acid Climate Action Group, the global nitric acid sector has an average annual emission reduction potential of above 100 million tCO2e. Globally, caprolactam production facilities emit nearly 35000 tons of N2O yearly, which is equivalent to nearly 14 million tCO2eq.

Restraint

Toxic effects of concentrated nitric acid

Concentrated nitric acid can be harmful if absorbed, inhaled, or ingested through the skin, which can hamper the growth of the concentrated nitric acid market. It is highly destructive to upper respiratory tract tissues and mucus membranes. It causes severe skin and eye burns and can cause permanent eye damage and blindness. Inhalation of concentrated nitric acid may cause inflammation, spasms, and edema of the larynx and bronchi. Concentrated nitric acid is highly corrosive in the presence of oxides, aluminum, and copper. Concentrated nitric acid burns can also turn the skin yellow because of a reaction with protein in the skin.

Opportunity

Increasing demand in the chemical industry

Concentrated nitric acid is a powerful chemical that has advantages in the chemical industry. It is a good oxidizing agent and is used in many chemical processes, including the production of dyes, fertilizers, and explosives. It can donate protons, which makes it effective in redox reactions. It is crucial for nitrating organic compounds and is used in many chemicals like trinitrotoluene (TNT) and nitrobenzene. These factors help to the growth of the concentrated nitric acid market.

• In February 2022, Nitric Oxide Nasal Spray (NONS) under the brand name FabiSpray in India was launched by Glenmark in collaboration with Canada-based SaNOtize Research & Development Corp. This is for the treatment of adult patients with COVID-19 who suffer from high-risk progression of the diseases.

Type Insights

The strong nitric acid segment dominated the concentrated nitric acid market in 2023. Concentrated nitric acid is a strong acid. It completely ionizes into nitrate (HNO3-) and hydronium (H3O+) in aqueous solution. It is highly toxic, corrosive, and soluble in water. Concentrated nitric acid is a colorless fuming liquid that turns yellowish because of nitrogen oxide collection. It is a powerful oxidizing agent. It is also used in pharmaceuticals for dental care and digestive health. It is a frequent remedy for dental problems like painful cavities and sensitive teeth. Nitric acid effectively addresses digestive diseases like painful stomach ulcers, heartburn, and indigestion. It helps to relieve the sensation of burning or rawness in the digestive tract and sharp, cutting pains.

The fuming nitric acid segment is expected to grow at a significant rate during the forecast period. Fuming nitric acid, also called nitrogen pentoxide or oleum, is a heavyweight in the chemical arena. Fuming nitric acid is a highly concentrated form of nitric acid that contains a significant amount of NO2 (dissolved nitrogen dioxide). There are 2 types of fuming nitric acid, including white fuming nitric acid (WFNA) and red fuming nitric acid (RFNA). WFNA contains more than 95% of nitric acid and is more concentrated than RFNA.

It is used in specific applications like explosives manufacturing and rocket propellants. RFNA contains about 84% nitric acid, 1-2% water, and 13% dinitrogen tetroxide (N2O4). It is used as a storable oxidizer in rocket propellants and in producing toxic fumes with a suffocating odor. Properties of fuming nitric acids include nitration reagent, oxidizing power, corrosiveness, etc., which help the growth of the concentrated nitric acid market. Application of fuming nitric acid also includes Maruti fine chemicals contribution, detergent industry, sulfonation reactions, etc.

Application Insights

The fertilizers segment dominated the concentrated nitric acid market in 2023. Nitric acid is a versatile and powerful chemical with a wide range of applications, including in the production of fertilizers. Concentrated nitric acid is a highly used component in fertilizer production. Fertilizers like calcium nitrate, ammonium nitrate, and other nitrate-based fertilizers use concentrated nitric acid.

• In August 2024, an investment proposal for establishing 200000 MTPA of weak nitric acid, i.e., 600 MTPD and ammonium nitrate, was cleared by the GNFC (Gujrat Narmada Valley Fertilizers & Chemicals Limited) Board in their meeting held on 13th August 2024.

The explosives segment is expected to grow at a significant rate during the forecast period. Concentrated nitric acid is used in explosives because it can donate a NO2 (nitro) group to an organic molecule, making it more unstable and prone to detonation, which helps the growth of the concentrated nitric acid market. Concentrated nitric acid is the main component for nitration, a chemical process that produces explosives like nitrocellulose, nitroglycerin, and TNT. Explosives are developed to be not only powerful but also safer to use.

• In November 2023, why fulminating gold, an explosive form of the 16th century first discovered by alchemists, emits purple smoke upon detonation; researchers at the University of Bristol have cleared up a 400-year-old mystery.

End-use Insights

The agriculture segment dominated the concentrated nitric acid market in 2023. Concentrated nitric acid is used in agriculture in many ways. In the production of ammonium nitrate fertilizer, which is a highly used fertilizer with a high nitrogen concentration. As a source of nitrogen, it contributes to the healthy plant’s growth and fuller crops. When concentrated nitric acid is used with water to lower the pH, increased awareness about fertilizers leads to an increasing demand for concentrated nitric acid in the agriculture industry, which helps achieve a high yield.

• In August 2023, at Dahej, in Gujrat, India, a brownfield expansion of nitric acid was launched by a leading producer of fertilizers, industrial chemicals, and industrial chemicals, Deepak Fertilizers & Petrochemicals Corporation Limited. The Board of Directors has approved the setting of two CNA (concentrated nitric acid) plants with a total capacity of 150 KT PA and a WNA (weak nitric acid) plant with a capacity of 300 KT PA.

The chemical segment is expected to grow significantly during the forecast period. Concentrated nitric acid is used in many chemical industries, such as chemical synthesis, metal refining, and the production of fertilizers, which help the growth of the concentrated nitric acid market. Concentrated nitric acid remains a cornerstone in many scientific research and industrial processes. It has unique properties as a versatile reagent and a strong oxidizing agent. Concentrated nitric acid is a heavily used and very common chemical in the world and is manufactured on a large scale by global manufacturers.

• In April 2024, a significant milestone with the successful acquisition of the Nitric Acid Expansion Project of Deepak Fertilizers and Petrochemicals Corporation Ltd. (DFPCL) was marked by Tata Projects Limited (TPL). Tata Projects forayed into the chemical industrial sector.

Concentrated Nitric Acid Market Companies

• GNFC Limited
• Koch Fertilizer, LLC
• DFPCL
• Rashtriya Chemicals and Fertilizers Limited.
• The Chemours Company
• INEOS Capitals, Limited.
• The Dow Chemical Company
• Sasol Limited
• LSB Industries
• UBE INDUSTRIES, LTD.
• Linde
• Hanwha Corporation
• BASF SE
• CF Industries Holdings, Inc.
• Yara

Recent Developments

• In June 2022, Gujrat Narmada Valley Fertilizers and Chemicals (GNFC), a joint-sector company promoted by the Gujrat State Fertilizer and Chemicals (GSFC) and the Government of Gujrat, was all set to become the largest producer of CNA (concentrated nitric acid) by the end 2022 calendar year.
• In January 2023, a new facility for the production of CNA (concentrated nitric acid) with a design output of 40,000 tonnes per year, doubling its capacity, was launched by Grupa Azoty S.A. This is the 2nd production line for the above 98% CAN (concentrated nitric acid) now operating in Tarnow.

Segments Covered in the Report

By Type

• Strong Nitric Acid
• Fuming Nitric Acid

By Application

• Fertilizers
• Dye Intermediates
• Rocket Propulsion
• Woodworking
• Explosives
• Others

By End-use

• Aerospace & Defense
• Chemical
• Agriculture
• Electrical and Electronics
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa