The Concentrated Nitric Acid Global Market Report 2023, provides comprehensive information on the concentrated nitric acid market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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The global market for concentrated nitric acid is poised for an incremental expansion, with anticipated growth from $18.68 billion in 2022 to $19.12 billion in 2023, underscored by a modest but steady compound annual growth rate (CAGR) of 2.4%. However, it is imperative to recognize the profound impact of the Russia-Ukraine conflict on the world's economic resurgence post-COVID-19, particularly in the immediate term. The ongoing strife between these two nations has precipitated economic sanctions that reverberate across multiple countries, a notable escalation in commodity prices, and widespread supply chain disruptions, thereby instigating inflationary pressures in the sphere of goods and services, significantly impacting global markets.

As we look ahead, the concentrated nitric acid market is poised for continued expansion, with a projected market size of $20.79 billion by 2027, supported by a resilient CAGR of 2.1%. This trajectory underscores the industry's ability to navigate the tumultuous global landscape and underscores its potential for sustained growth in the coming years.

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Technological advancement is the key trend in the concentrated nitric acid market. Major companies operating in the concentrated nitric acid market are focusing on including new technology to reduce greenhouse gas emissions during the process of producing concentrated nitric acid to meet climate regulation standards. For instance, in November 2021, Orica, an Australia-based commercial explosives company that produced concentrated nitric acid for use in its explosives manufacturing, installed EnviNOx, a proven nitrous oxide greenhouse gas (GHG) emissions tertiary abatement technology, at its Kooragang Island plant. The technology, which will be implemented at all three of the nitric acid production facilities used to make ammonium nitrate on Kooragang Island, is intended to reduce the site's carbon footprint by at least 567,000 tCO2e annually. Based on projected production, it is anticipated to cut the site's overall emissions by 48% and produce a cumulative emissions reduction of at least 4.7 MtCO2e by 2030.

The concentrated nitric acid market is segmented:

1) Concentrated Nitric Acid Market By Type: Strong Nitric Acid, Fuming Nitric Acid

2) Concentrated Nitric Acid Market By Application: Agrochemicals, Explosives, Automotive, Rubber, Other Application

3) Concentrated Nitric Acid Market By Distribution Channel: Direct Or Institutional Sales, Retail Sales, Other Distribution Channels

Asia-Pacific was the largest region in the concentrated nitric acid market in 2022.

The table of contents in TBRC’s concentrated nitric acid market report includes:

1. Executive Summary

2. Concentrated Nitric Acid Market Characteristics

3. Concentrated Nitric Acid Market Trends And Strategies

4. Concentrated Nitric Acid Market - Macro Economic Scenario

5. Concentrated Nitric Acid Market Size And Growth

........

26. Africa Concentrated Nitric Acid Market

27. Concentrated Nitric Acid Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Concentrated Nitric Acid Market

29. Concentrated Nitric Acid Market Future Outlook and Potential Analysis

30. Appendix

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