The global concentrated nitric acid market size was USD 26.19 billion in 2023, calculated at USD 27.11 billion in 2024 and is expected to be worth around USD 38.36 billion by 2034. The market is slated to expand at 3.53% CAGR from 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.
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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.
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.
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.
Report Coverage | Details |
Market Size by 2034 | USD 38.36 Billion |
Market Size in 2024 | USD 27.11 Billion |
Market Growth Rate from 2024 to 2034 | CAGR of 3.53% |
Largest Market | Asia Pacific |
Base Year | 2023 |
Forecast Period | 2024 to 2034 |
Segments Covered | Type, Application, End-use, and Regions |
Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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.
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.
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.
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.
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.
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.
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.
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.
Segments Covered in the Report
By Type
By Application
By End-use
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Concentrated Nitric Acid Market
5.1. COVID-19 Landscape: Concentrated Nitric Acid Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Concentrated Nitric Acid Market, By Type
8.1. Concentrated Nitric Acid Market Revenue and Volume, by Type, 2024-2034
8.1.1 Strong Nitric Acid
8.1.1.1. Market Revenue and Volume Forecast (2021-2034)
8.1.2. Fuming Nitric Acid
8.1.2.1. Market Revenue and Volume Forecast (2021-2034)
Chapter 9. Global Concentrated Nitric Acid Market, By Application
9.1. Concentrated Nitric Acid Market Revenue and Volume, by Application, 2024-2034
9.1.1. Fertilizers
9.1.1.1. Market Revenue and Volume Forecast (2021-2034)
9.1.2. Dye Intermediates
9.1.2.1. Market Revenue and Volume Forecast (2021-2034)
9.1.3. Rocket Propulsion
9.1.3.1. Market Revenue and Volume Forecast (2021-2034)
9.1.4. Woodworking
9.1.4.1. Market Revenue and Volume Forecast (2021-2034)
9.1.5. Explosives
9.1.5.1. Market Revenue and Volume Forecast (2021-2034)
9.1.6. Others
9.1.6.1. Market Revenue and Volume Forecast (2021-2034)
Chapter 10. Global Concentrated Nitric Acid Market, By End-use
10.1. Concentrated Nitric Acid Market Revenue and Volume, by End-use, 2024-2034
10.1.1. Aerospace & Defenser
10.1.1.1. Market Revenue and Volume Forecast (2021-2034)
10.1.2. Chemical
10.1.2.1. Market Revenue and Volume Forecast (2021-2034)
10.1.3. Agriculture
10.1.3.1. Market Revenue and Volume Forecast (2021-2034)
10.1.4. Electrical and Electronics
10.1.4.1. Market Revenue and Volume Forecast (2021-2034)
10.1.5. Others
10.1.5.1. Market Revenue and Volume Forecast (2021-2034)
Chapter 11. Global Concentrated Nitric Acid Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.1.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.1.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.1.4.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.1.4.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.1.5.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.1.5.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.2.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.2.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.2.4.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.2.4.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.2.5.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.2.5.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.2.6.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.2.6.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.2.7.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.2.7.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.3.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.3.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.3.4.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.3.4.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.3.5.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.3.5.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.3.6.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.3.6.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.3.7.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.3.7.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.4.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.4.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.4.4.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.4.4.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.4.5.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.4.5.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.4.6.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.4.6.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.4.7.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.4.7.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.5.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.5.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.5.4.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.5.4.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Type (2021-2034)
11.5.5.2. Market Revenue and Volume Forecast, by Application (2021-2034)
11.5.5.3. Market Revenue and Volume Forecast, by End-use (2021-2034)
Chapter 12. Company Profiles
12.1. GNFC Limited
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Koch Fertilizer, LLC
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. DFPCL
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Rashtriya Chemicals and Fertilizers Limited.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. The Chemours Company
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. INEOS Capitals, Limited.
12.6.1. The Dow Chemical Company
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. The Dow Chemical Company
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Sasol Limited
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. LSB Industries
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. UBE INDUSTRIES, LTD.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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