Nitric Acid Market is predicted to reach USD 35.9 billion at a CAGR of 2.3% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Nitric Acid Market” that contains information from 2023 to 2030. The Global Nitric Acid Market is estimated to register a CAGR of 2.3% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the Global Nitric Acid Market— PVS Chemicals, BASF SE, Nutrien Ltd, Orica Limited, The Chemours Company, LSB Industries, Apache Nitrogen Products Inc., CF Fertilisers UK, Incitec Pivot Limited, and Qingdao Hisea Chem Co. Ltd.

Nitric Acid Market Highlights

The Global Nitric Acid Market is accounted to register a CAGR of 2.3% during the forecast period and is estimated to reach USD 35.9 Billion by 2030.

The global nitric acid market refers to the worldwide industry involved in the production, distribution, and sale of nitric acid. Nitric acid (HNO3) is a strong mineral acid and a key chemical used in various industrial processes. It is primarily used in the production of fertilizers, explosives, and a wide range of chemicals.

The global nitric acid market is influenced by factors like raw material availability (ammonia, in particular), energy costs, environmental regulations, and technological advancements in the production processes. The market can be volatile due to fluctuations in feedstock prices, geopolitical tensions, and changes in demand from end-use industries.

Segment Analysis

The Global Nitric Acid Market has been segmented based on application.

On the basis of application, the market is segmented into Fertilizers, Nitrobenzene, Adipic Acid and Toluene Di-isocyanate. The fertilizers segment dominated due to rising agricultural activities for fulfilling the ever-growing population demand. HNO3 is used to manufacture fertilizers such as ammonium nitrate, and calcium ammonium nitrate, which provides extensive and quality crop yields. The growing need for nitrogen-based fertilizers over the years is driving the market growth of HNO3.

Regional Analysis

The Global Nitric Acid Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Nitric Acid Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Nitric Acid Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Nitric Acid Market comprises of Middle East, Africa, and Latin America.

In North America, the United States was a significant player in the nitric acid market, both as a producer and consumer. The market was driven by the demand from the agriculture sector for fertilizers, as well as from the chemicals and explosives industries. The presence of a robust manufacturing sector and infrastructure development also contributed to the demand for nitric acid in this region.

Europe was another prominent region in the global nitric acid market. Countries like Germany, France, and the United Kingdom were major producers and consumers of nitric acid. The region's strong focus on agricultural activities and chemical manufacturing industries drove the demand for fertilizers and various chemical products, leading to an increased consumption of nitric acid.

Asia-Pacific was one of the fastest-growing regions in the global nitric acid market. The region's booming population and increasing urbanization also played a role in driving the demand for consumer goods and infrastructure development, further fueling the consumption of nitric acid in various applications.

Furthermore, the rest of the world's Global Nitric Acid Market is divided into the Middle East, Africa, and Latin America. In Latin America, Brazil was a key market for nitric acid, driven by its substantial agricultural sector and the need for fertilizers. The region's chemical and mining industries also contributed to the demand for nitric acid.

Key Findings of the Study

• The Global Nitric Acid Market is expected to reach USD 35.9 Billion by 2030, at a CAGR of 2.3% during the forecast period.


• Asia-Pacific was one of the fastest-growing regions in the global nitric acid market. The region's booming population and increasing urbanization also played a role in driving the demand for consumer goods and infrastructure development, further fueling the consumption of nitric acid in various applications.


• Based on application, the market is segmented into Fertilizers holding the largest market in 2022.


• PVS Chemicals, BASF SE, Nutrien Ltd, Orica Limited, The Chemours Company, LSB Industries, Apache Nitrogen Products Inc., CF Fertilisers UK, Incitec Pivot Limited, and Qingdao Hisea Chem Co. Ltd.