Nitric Acid Market - Global Industry Size, Share, Trends, Opportunity & Forecast, Segmented By Plant Type, By Sales Channel, By End Use, By Region, & Competition, 2020-2030F
Global Nitric Acid market was valued at USD 27.25 Billion in 2024 and is expected to reach USD 33.93 Billion by 2030 with a CAGR of 3.72%. The Global Nitric Acid Market is witnessing consistent growth, underpinned by its indispensable role as a foundational industrial chemical across a diverse array of downstream sectors. As a key precursor in the manufacture of fertilizers, explosives, synthetic polymers, and specialty chemicals, nitric acid remains integral to the operational frameworks of industries such as agriculture, mining, construction, automotive, and chemical processing.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 27.25 Billion
Market Size 2030
USD 33.93 Billion
CAGR 2025-2030
3.72%
Fastest Growing Segment
Adipic Acid
Largest Market
Asia-Pacific
The market is projected to maintain a measured yet resilient growth trajectory, sustained by steady consumption across established end-use segments and a strategic industry shift toward energy-efficient, low-emission production technologies. The emphasis on environmental compliance and process innovation continues to shape market dynamics, ensuring nitric acid's relevance in evolving industrial ecosystems.
Key Market Drivers
Industrialization and Urbanization in Emerging Markets
The rapid pace of industrialization and urbanization in emerging markets is a major catalyst for the expansion of the Global Nitric Acid Market. These socio-economic transformations are fueling demand across key end-use sectors that rely heavily on nitric acid as a fundamental raw material. Employment in the manufacturing sector witnessed a notable increase of 7.5% in FY 2022-23, rising to 1.85 crore individuals, up from 1.72 crore in the previous fiscal year. This growth reflects a strengthening industrial base and improved capacity utilization across key manufacturing segments. As emerging economies industrialize, there is a marked rise in the establishment and scaling of core industries such as chemical manufacturing, mining, construction, automotive, and metallurgy all of which require substantial volumes of nitric acid. For example: The mining and quarrying sectors use nitric acid in the manufacture of explosives like ammonium nitrate. The chemical industry utilizes it in the production of intermediates like adipic acid and nitrobenzene. This industrial surge is directly translating into increased consumption of nitric acid across production lines.
In FY 2023-24, the Ministry of Road Transport and Highways (MoRTH) deployed a capital outlay of approximately ₹2.64 lakh crore (US$ 31.7 billion), comprising both public expenditure and private sector investment. Over the past decade, the total length of National Highways has expanded significantly, registering a 59% increase, reflecting the government's sustained focus on infrastructure development and connectivity enhancement. Urbanization in developing regions is characterized by heavy investments in infrastructure projects such as roads, railways, ports, and housing. These activities fuel the demand for explosives, concrete additives, and construction chemicals, many of which require nitric acid in their production. Countries such as India, Indonesia, Brazil, and South Africa are allocating significant portions of public spending to infrastructure, making nitric acid a crucial enabler of this development.
In FY 2023-24, India's automotive industry produced approximately 28.4 million vehicles across all categories, including passenger vehicles, commercial vehicles, two-wheelers, three-wheelers, and quadricycles. This production volume underscores the sector's robust manufacturing capabilities and its integral role in supporting both domestic demand and export-oriented growth. Emerging markets are becoming major automotive production hubs, both for domestic consumption and exports. The automotive sector depends on nitric acid for the production of nylon (from adipic acid) and polyurethane foams, which are used in vehicle interiors, insulation, and structural parts. The growing demand for lightweight and fuel-efficient materials is further accelerating nitric acid consumption in these regions. Urbanization in emerging economies does not eliminate agricultural dependence; instead, it increases pressure on existing farmland to be more productive. This leads to higher use of nitrogen-based fertilizers, particularly ammonium nitrate and urea, both of which require nitric acid as a key feedstock. Fertilizer demand is especially strong in countries like India, China, and Pakistan, where agriculture remains a cornerstone of the economy even as urban centers expand.
Key Market Challenges
Volatility in Prices of Raw Materials
Many regions heavily rely on imported ammonia to meet their nitric acid production requirements. This dependency exposes manufacturers to geopolitical risks, currency exchange rate fluctuations, and supply chain disruptions, all of which can lead to unstable raw material costs. Volatility in raw material prices can pose challenges for nitric acid manufacturers in maintaining stable profit margins. Sudden increases in raw material costs can erode profit margins, affecting the financial health of companies in the industry.
Key Market Trends
Technological Advancements
Technological advancements are opening new horizons for nitric acid applications, particularly in the field of nanotechnology. Nitric acid plays a vital role in the synthesis and functionalization of nanoparticles, which find applications in electronics, medicine, catalysis, and environmental remediation. The integration of digital technologies, such as data analytics and the Internet of Things (IoT), are driving process optimization and enhancing operational efficiency in nitric acid production plants. It improves operational efficiency, reduces downtime, and enables data-driven decision-making.
In 2020, Stamicarbon has unveiled its dual and mono nitric acid method known for its exceptional energy recuperation. This is accomplished through careful placement of the heat exchanger further down the ammonia burner. The key characteristic that sets this process apart from traditional nitric acid production is the ability to reach high tail gas temperatures, reaching up to 480°C. This is achieved by positioning the final tail gas heater in closer proximity to the Pt/Rh gauzes within the ammonia burner vessel, where elevated process temperatures are encountered. Moreover, technological advancements in safety systems and equipment have significantly improved workplace safety. Automation and remote monitoring systems reduce the need for manual intervention and exposure to hazardous environments.
Key Market Players
Celanese Corporation
Jiangsu sopo chemical co. ltd.
Eastman Chemicals Company
Archer Daniels Midland
Tate and Lyle Plc.
BASF SE
Dow Chemical
BioAmber Inc.
Henan Jindan Lactic Acid Technology Co., Ltd.
Nature Works LLC
Report Scope:
In this report, the Global Nitric Acid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Nitric Acid Market, By Plant Type:
Mono Pressure
Dual Pressure
Nitric Acid Market, By Sales Channel:
Direct
Indirect
Nitric Acid Market, By End Use:
AN & CAN
Nitrobenzene
TDI
TNT
Adipic Acid
Others
Nitric Acid Market, By Region:
North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Nitric Acid Market.
Available Customizations:
Global Nitric Acid market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Impact of COVID 10 on Global Nitric Acid Market
6. Nitric Acid Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Plant Type (Mono Pressure, Dual Pressure)
6.2.2. By Sales Channel (Direct, Indirect)
6.2.3. By End Use (AN & CAN, Nitrobenzene, TDI, TNT, Adipic Acid, Others)
6.2.4. By Region
6.2.5. By Company (2024)
6.3. Market Map
7. North America Nitric Acid Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Plant Type
7.2.2. By Sales Channel
7.2.3. By End Use
7.2.4. By Country
7.3. North America: Country Analysis
7.3.1. United States Nitric Acid Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value & Volume
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Plant Type
7.3.1.2.2. By Sales Channel
7.3.1.2.3. By End Use
7.3.2. Canada Nitric Acid Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value & Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Plant Type
7.3.2.2.2. By Sales Channel
7.3.2.2.3. By End Use
7.3.3. Mexico Nitric Acid Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value & Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Plant Type
7.3.3.2.2. By Sales Channel
7.3.3.2.3. By End Use
8. Europe Nitric Acid Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Plant Type
8.2.2. By Sales Channel
8.2.3. By End Use
8.2.4. By Country
8.3. Europe: Country Analysis
8.3.1. Germany Nitric Acid Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value & Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Plant Type
8.3.1.2.2. By Sales Channel
8.3.1.2.3. By End Use
8.3.2. United Kingdom Nitric Acid Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value & Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Plant Type
8.3.2.2.2. By Sales Channel
8.3.2.2.3. By End Use
8.3.3. Italy Nitric Acid Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value & Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Plant Type
8.3.3.2.2. By Sales Channel
8.3.3.2.3. By End Use
8.3.4. France Nitric Acid Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value & Volume
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Plant Type
8.3.4.2.2. By Sales Channel
8.3.4.2.3. By End Use
8.3.5. Spain Nitric Acid Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value & Volume
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Plant Type
8.3.5.2.2. By Sales Channel
8.3.5.2.3. By End Use
9. Asia-Pacific Nitric Acid Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Plant Type
9.2.2. By Sales Channel
9.2.3. By End Use
9.2.4. By Country
9.3. Asia-Pacific: Country Analysis
9.3.1. China Nitric Acid Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value & Volume
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Plant Type
9.3.1.2.2. By Sales Channel
9.3.1.2.3. By End Use
9.3.2. India Nitric Acid Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value & Volume
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Plant Type
9.3.2.2.2. By Sales Channel
9.3.2.2.3. By End Use
9.3.3. Japan Nitric Acid Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value & Volume
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Plant Type
9.3.3.2.2. By Sales Channel
9.3.3.2.3. By End Use
9.3.4. South Korea Nitric Acid Market Outlook
9.3.4.1. Market Size & Forecast
9.3.4.1.1. By Value & Volume
9.3.4.2. Market Share & Forecast
9.3.4.2.1. By Plant Type
9.3.4.2.2. By Sales Channel
9.3.4.2.3. By End Use
9.3.5. Australia Nitric Acid Market Outlook
9.3.5.1. Market Size & Forecast
9.3.5.1.1. By Value & Volume
9.3.5.2. Market Share & Forecast
9.3.5.2.1. By Plant Type
9.3.5.2.2. By Sales Channel
9.3.5.2.3. By End Use
10. South America Nitric Acid Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Plant Type
10.2.2. By Sales Channel
10.2.3. By End Use
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Nitric Acid Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value & Volume
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Plant Type
10.3.1.2.2. By Sales Channel
10.3.1.2.3. By End Use
10.3.2. Argentina Nitric Acid Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value & Volume
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Plant Type
10.3.2.2.2. By Sales Channel
10.3.2.2.3. By End Use
10.3.3. Colombia Nitric Acid Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value & Volume
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Plant Type
10.3.3.2.2. By Sales Channel
10.3.3.2.3. By End Use
11. Middle East and Africa Nitric Acid Market Outlook