Nitric Acid Market to receive overwhelming hike in Revenues by 2029 End - PowerPoint PPT Presentation

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

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The nitric acid market value exceeded a staggering US$ 17.4 Bn in 2018 on the back of strong demand from agrochemical industry. The market is set to expand at a CAGR of 3% through the course of forecast period 2019-2029 – PowerPoint PPT presentation

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


1
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
2
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Research Methodology (1/2)
  • Systematic Research Approach

In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc.
FMI formulates a detailed discussion guide to conduct expert and industry interviews
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FMI conducts interviews with industry experts, industry players, distributors and retailers
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SOLUTION
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includes sources of databases
4
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.

5
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

6
Nitric Acid Market
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7
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