Title: Nitric Acid Market 2019 Announce Eminent CAGR Growth at (9.2%) until 2029
1Nitric Acid Market
Report Id REP-GB-11098 Published On Feb
27,2020 Category Chemicals and Materials
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4Nitric Acid Market Analysis
- Nitric Acid Market to Witness Steady Growth at 3
CAGR During 2019 - 2029 Top Companies The Dow
Chemical Company, Bayer AG - 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 continue 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.
5Nitric Acid Market Analysis
- 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. - 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.
6Nitric Acid Market Analysis
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. Request for covid19 Impact Analysis
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B-11098 Press Release Source https//www.globene
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tric-Acid-Market-Valuation-Surpassed-US-17-Bn-in-2
019-Opportunities-Abound-in-Fertilizer-and-Chemica
l-Applications-Reports-Future-Market-Insights.html
7Nitric Acid Market Analysis
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8Nitric Acid Market Analysis
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