Title: Nitric Acid Market to receive overwhelming hike in Revenues by 2029 End
1Innovation to Drive Nitric Acid Market Throughout
the forecast Period 2019 - 2029
Report Id REP-GB-11098 Published On 27 Feb,
2020 Category Chemicals and Materials
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4Nitric 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.
5Nitric 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
6Nitric Acid Market
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