The U.S. nitric acid market size was worth USD 2.25 billion in 2022 and is projected to grow at a CAGR of 3.5% during the forecast period 2024-2030.

A nitric acid is a group of inorganic acids, which is a colorless compound. The acid is used in the formulation of dyes, plastic, and ammonium nitrate for fertilizers. It is also used to produce adipic acid, nitrobenzene, and chloronitrobenzene, which are used in end-use industries, such as plastics, automotive, and construction. The growing use of nitric acid in these end-use industries propels market growth. Fortune Business Insights™ mentioned this in a report titled, “U.S. Nitric Acid Market, 2024-2030.”

List of Key Players Present in the U.S. Nitric Acid Report:

  • BASF SE (Germany)
  • Nutrien (Canada)
  • EuroChem Group (Switzerland)
  • CF Industries Holdings, Inc. (U.S.)
  • Omnia Holdings Limited (South Africa)
  • Dyno Nobel (Australia)
  • Enaex S.A. (Chile)
  • Sasol (South Africa)
  • LSB Industries (U.S.)

U.S. Nitric Acid Industry Segments

Increasing Agricultural Activities to Propel Fertilizers Segment Growth

Based on application, the market is segmented into fertilizers, nitrobenzene, adipic acid, toluene di-isocyanate, and others. The fertilizers segment held the largest U.S. nitric acid market share in 2022. The segment’s growth is attributed to the increasing agricultural activities propelled by private organizations and government initiatives to fulfil the increasing demand.

U.S. Nitric Acid Report Coverage

The report offers:

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
  • Comprehensive insights into regional developments.
  • List of major industry players.
  • Key strategies adopted by the market players.
  • The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints

Increasing Nitric Acid Demand from the Agriculture Industry to Propel Market Growth

The increasing demand for nitric acid due to its usage in calcium ammonium nitrate and ammonium nitrate synthesis for fertilizer application drives the U.S. nitric acid market growth. The increase in the agriculture industry is projected to boost market expansion during the forecast period.

However, this acid can cause nausea, abdominal pain, diarrhea, and throat infection, which may hinder the market growth.

Competitive Landscape

Growing Key Players’ Focus on Acquisition to Boost Market Growth

In terms of the competitive landscape, the market consists of key players, such as BASF SE, Nutrien, EuroChem Group, CF Industries Holdings, Inc., and Omnia Holdings Limited. The increasing focus of these key players is on social marketing, product innovation, collaborations, and acquisition to boost market expansion.

Key U.S. Nitric Acid Industry Development

April 2022 – BASF and SINOPEC expanded their Verbund site, which is operated by BASF-YPC Co., Ltd. (BASF-YPC), a 50-50 joint venture of both companies located in Nanjing. The expansion includes new capacities of many downstream chemical plants along with a new tert-butyl acrylate plant to serve the increasing demand from different industries in the Chinese market.

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