February 2024
04 Oct 2024
The global concentrated nitric acid market revenue surpassed USD 26.19 billion by 2023 and predicted to be attain around USD 37.05 billion by 2033 with a CAGR of 3.53%. It is used in ammonium nitrates, which are essential for fertilizer production, and in the production of explosives like trinitrotoluene (TNT), driving the market's growth.
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. Primarily, it is used in the manufacturing of explosives and nitrogen fertilizers. When concentrated nitric acid reacts with specific metals, it can lead to the specific protective passivating layer formation, which is called passivation. 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.
Advanced technologies driving the market
Advanced technologies play an important role in the concentrated nitric acid market, driving its growth. Advanced technologies help to reduce costs, improve product quality, and enhance efficiency. The use of technologies like smart systems and automation are modifying industries by offering modern solutions that meet consumer demands. These advancements help to expand product offerings and market expansion. To develop advanced technologies companies, invest in research and development for the market flow.
However, the risks of concentrated nitric acid include environmental concerns; it may cause severe skin and eye burns, permanent eye damage, and blindness that can hamper the growth of the concentrated nitric acid market.
Recent Development in the Concentrated Nitric Acid Market by Gujrat Narmada Valley Fertilizers and Chemicals (GNFC) Limited
| Company Name | Gujrat Narmada Valley Fertilizers and Chemicals (GNFC) Limited |
| Headquarters | Bharuch, Gujrat, India |
| Development | In June 2022, Gujrat Narmada Valley Fertilizers and Chemicals (GNFC) Limited, 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. |
Recent Development in the Concentrated Nitric Acid Market by Grupa Azoty S.A.
| Company Name | Grupa Azoty S.A. |
| Headquarters | Poland |
| Development | 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. |
Recent Development in the Concentrated Nitric Acid Market by Deepak Fertilizers & Petrochemicals Corporation Limited.
| Company Name | Deepak Fertilizers & Petrochemicals Corporation Limited (DFPCL) |
| Headquarters | Pune, Maharashtra, India. |
| Development | 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 (DFPCL). 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. |
North America is estimated to be significantly growing during the forecast period of 2024-2034. Increased demand for concentrated nitric acid is due to industrialization 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. 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. The United States and Canada are the leading countries in the region for growth in the market.
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. China and India are the most populated countries, and there is a need for food, which leads to rising concentrated nitric acid demand. India and China are the leading countries for the growth of the market in the Asia Pacific region. In India, most of the part, nearly half of the region is agriculturally based. In the Asia Pacific region, the number of concentrated nitric acid manufacturing units is increasing. Rising industrialization with established manufacturing facilities of polyurethane foams, explosives, fertilizers, agrochemicals, etc.
Regulatory policies and support
The implementation of the regulatory policies and support to the concentrated nitric acid market helps to adopt and develop advanced technologies for concentrated nitric acid. Favorable intensives, regulations, and subsidies for adopting advanced technologies support businesses in investing in concentrated nitric acid products. Regulatory frameworks that help to promote environmental protection and sustainability drive the demand for environmentally friendly and effective solutions.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 27.11 Billion |
| Market Revenue by 2033 | USD 37.05 Billion |
| CAGR | 3.53% from 2023 to 2033 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Segmentation
By Type
By Application
By End-use
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