World Nitric Acid Market to See Growth at CAGR of Above 6% through 2025, Informs TechSci Research in New Report Recently Added at MarketPulishers.com
17 Oct 2016 • by Natalie Aster
LONDON – Increasing demand for nitric acid worldwide can be attributed to its widespread use in production of different chemicals, used in polyurethanes, fertilizers, pharmaceuticals and other end-use industries.
Rising demand for ammonium nitrate fertilizers is expected to emerge as the major driver in the world’s nitric acid market. Enhancing need for high crop yield to satisfy the rapidly rising demand for food has spurred consumption of synthetic fertilizers worldwide during the past several years. Supportive government initiatives coupled with large availability of agricultural land have driven the expansion of the world’s agricultural sector.
The world’s nitric acid market is predicted to grow at a CAGR of more than 6% from 2016 to 2025, driven primarily by the implementation of stringent regulations associated with greenhouse gas pollution control, enhancing demand for explosives from construction and mining sectors and also constantly expanding calcium ammonium nitrate and ammonium nitrate industries.
Europe ranks the top consumer of nitric acid worldwide. However, swift industrialization in the Asia-Pacific region is poised to spur robust increase in the demand for nitric acid and its derivatives in this region through 2025.
Leading players in the world’s market for nitric acid include Yara International, LSB Industries, Deepak Fertilizer, CF Industries and Petrochemicals Corporation Limited, amid others.
One of the recent reports “Global Nitric Acid Market By Plant Type, By Sales Channel, By Application, By Region, Competition Forecast and Opportunities, 2011 - 2025” by TechSci Research covers all the main aspects of the world’s nitric acid market. It reviews the current market scenario, uncovers data on the market size and shares, contains a granular market segmentation analysis (on the basis of sales channel, plant type, region and application), sheds light on the current situation across the key regions and examines the main market growth hinders and drivers. The report explores changing market trends, identifies emerging opportunities, delves into the competitive landscape and includes valuable strategic recommendations. In addition, the report contains details on the competitive environment and top players and also presents future market forecasts through 2025.
Other in-demand reports by this publisher are available at the TechSci Research page.