Nitric Acid Market to receive overwhelming hike in Revenues by 2029 End

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Innovation to Drive Nitric Acid Market Throughout
the forecast Period 2019 - 2029

• March 2020

Report Id REP-GB-11098 Published On 27 Feb,
2020 Category Chemicals and Materials
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Nitric Acid Market

• Global nitric acid market value exceeded US 17
  Bn in 2019. Augmented demand in the agrochemical
  industry is a key contributor to this growth.
  Adoption of ammonium nitrate based fertilizers
  has gained substantial momentum across developing
  countries, which would be a prime booster to the
  growth of nitric acid market, says a new Future
  Market Insights (FMI) report.
• Major players in global nitric acid market seek
  expansion of their operational footprint in
  developing regions to fortify their competitive
  advantage, forecasts the FMI report.
• Key Takeaways of Nitric Acid Market Study
• Combinations of nitric acid with adipic acid for
  automotive composites continues to capture a
  leading market share.
• Nitric acid consumption for agrochemical
  applications will be substantial in developing
  nations.
• Increasing production of toluene diisocyanate for
  polyurethane foams will propel demand for nitric
  acid through 2029.
• Europe will generate highly lucrative
  opportunities in global nitric acid market.
• The profit pool is largely concentrated in the
  fertilizer industry.
• Nitric Acid Market Top Growth Drivers
• Concentration of major manufacturers in developed
  countries such as Germany continues to drive
  growth.
• Rising applications of etching and photoengraving
  in steel products offer an impetus to market
  growth.
• Nitric acid is rapidly gaining traction in the
  production of perfumes, acids, and dyes, thereby
  assisting market growth.
• Metallurgical and pharmaceutical applications are
  generating an upward growth trend.

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Nitric Acid Market

• Nitric Acid Market Key Restraints
• Concerns over environmental and health risks
  associated with the use of ammonium nitrate
  continue to hamper the demand for nitric acid.
• Competitive Landscape
• Some of the key market players profiled in the
  report include, but are not limited to, The
  Chemours Company, Agrium Inc., Dyno Nobel, LSB
  Industries, National Chemical Group, CF
  Industries, Koch Fertilizers, Eurochem Group, OCI
  Nitrogen, and Potash Corp. Redesigning
  distribution and manufacturing networks is a key
  developmental strategy being adopted by leading
  market players. Reduced operational costs and
  enhanced flexibility will remain the priorities
  of prominent market players.
• Source of Press Release _at_ https//www.globenewswir
  e.com/news-release/2020/03/06/1996499/0/en/Nitric-
  Acid-Market-Valuation-Surpassed-US-17-Bn-in-2019-O
  pportunities-Abound-in-Fertilizer-and-Chemical-App
  lications-Reports-Future-Market-Insights.html

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Nitric Acid Market

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