Nitric Acid Market Size, Share, Trends & Forecast

Table of Contents

Nitric Acid Market Outlook

According to the report by Expert Market Research (EMR), the global Nitric Acid Market Size achieved a value of USD 26.99 billion in 2024. Driven by increasing demand from the agricultural, automotive, and industrial sectors, the market is projected to grow at a compound annual growth rate (CAGR) of 3.0% between 2025 and 2033, reaching a value of USD 35.23 billion by 2033.

Nitric acid is a strong mineral acid commonly used in the production of fertilizers, chemicals, explosives, and in various industrial applications. It plays a vital role in agricultural productivity, especially in the manufacturing of ammonium nitrate, which is a key component in nitrogen-based fertilizers. Nitric acid is also crucial in the production of various chemicals, including nitro compounds, which are used in a range of industrial processes. Furthermore, the rising demand for environmental sustainability is influencing nitric acid production methods and their applications, further contributing to the growth of the market.

The agricultural sector remains the largest end-user of nitric acid, primarily for its role in fertilizer production. However, increasing environmental concerns, coupled with innovations in the production and usage of nitric acid, are also shaping its future trajectory. The growing awareness of nitrogen-based fertilizers’ impact on the environment is expected to lead to the development of more sustainable production methods and eco-friendly fertilizers, which will further drive market growth. Additionally, nitric acid’s vital role in the automotive industry, particularly in the manufacturing of catalytic converters, is expected to bolster its demand over the forecast period.

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Key Drivers of Market Growth

Increasing Demand for Fertilizers: The global population is steadily increasing, which in turn is driving the need for higher agricultural productivity. Nitric acid, particularly in the form of ammonium nitrate, is one of the most widely used chemicals for fertilizer production. The increasing need for fertilizers in regions experiencing rapid population growth, such as Asia-Pacific and Africa, is a major factor driving the demand for nitric acid. As the agricultural sector continues to expand to meet food demands, the Nitric Acid Market is expected to benefit from this trend.

Growing Industrial Applications: Beyond fertilizers, nitric acid is extensively used in the production of a wide range of industrial chemicals. These include nitro compounds like nitroglycerin and toluene diisocyanate, which are essential in the production of explosives and polymers. Additionally, nitric acid plays a crucial role in the production of dyes, pigments, and in the metal industry for pickling and cleaning operations. The growth of various manufacturing industries, particularly in emerging economies, is expected to propel demand for nitric acid in the coming years.

Environmental Regulations and Sustainable Practices: Nitric acid production methods, especially those used in fertilizers, have raised concerns regarding nitrogen oxide (NOx) emissions, which contribute to air pollution and global warming. As such, governments worldwide are introducing stricter environmental regulations to minimize emissions from industrial processes. This shift is driving the need for cleaner production technologies, which will contribute to the development of more sustainable nitric acid production methods. These advancements are expected to influence the market by reducing environmental footprints while meeting rising demand.

Expanding Automotive Sector: The automotive industry is another key factor driving the demand for nitric acid, especially in the production of catalytic converters. Nitric acid is used to manufacture the platinum-based catalysts found in vehicles’ exhaust systems, helping to reduce harmful emissions such as nitrogen oxides (NOx) and carbon monoxide. As governments impose stricter emissions regulations, the demand for catalytic converters, and consequently nitric acid, is expected to rise. This is especially true in regions like Europe and North America, where stringent emission standards are already in place.

Technological Advancements in Nitric Acid Production: Technological innovations in the production of nitric acid are making the manufacturing process more efficient, cost-effective, and environmentally friendly. Innovations such as the development of advanced catalysts, improved reactor designs, and enhanced absorption techniques are helping reduce energy consumption and NOx emissions. Additionally, the adoption of green chemistry practices is expected to facilitate the growth of more sustainable and efficient nitric acid production methods, further boosting market expansion.

Market Trends and Developments

Growing Popularity of Eco-Friendly Fertilizers: Nitric acid-based fertilizers have long been associated with environmental concerns, particularly the leaching of nitrogen into water systems, which can lead to eutrophication and other environmental issues. In response to these concerns, there is an increasing focus on the development of more environmentally friendly fertilizers. Companies are exploring the use of organic or controlled-release fertilizers, which aim to reduce the negative environmental impacts of traditional nitrogen fertilizers. This trend is expected to drive innovation in the Nitric Acid Market, especially in the development of sustainable and eco-friendly fertilizers.

Integration of Nitric Acid in Green Energy and Alternative Technologies: As industries worldwide transition toward cleaner energy sources, nitric acid is gaining attention for its potential role in green energy technologies. For instance, nitric acid can be used in the production of solar cells, batteries, and energy storage devices, where it serves as a key component in the chemical processes. This expanding application of nitric acid in the clean energy sector is poised to create new market opportunities.

Shift Towards Emerging Markets: Emerging economies, particularly in Asia-Pacific, the Middle East, and Africa, are witnessing rapid industrialization and urbanization. These regions are increasing their demand for fertilizers, chemicals, and industrial products, all of which rely on nitric acid. As a result, companies are focusing on establishing manufacturing units and expanding their presence in these high-growth regions. The increased industrial output in these regions is expected to contribute to significant growth in the Nitric Acid Market over the forecast period.

Rising Use in Water Treatment: Nitric acid is increasingly being used in water treatment processes, especially for neutralizing alkaline water or controlling pH levels in industrial effluent. As concerns regarding water quality continue to rise, the demand for water treatment chemicals, including nitric acid, is expected to grow. This trend is particularly prominent in industries such as paper and pulp manufacturing, textiles, and food processing, where water management plays a key role in operations.

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Nitric Acid Market Segmentation

The Nitric Acid Market can be divided based on concentration, application, end use

Based on the concentration, the industry is divided into:

Dilute Nitric Acid (68%)
Concentrated Nitric Acid (69%-71%)

Based on the application, the industry is divided into:

Fertilizers
Adipic Acid
Nitrobenzene
Toluene Di-Isocyanate (TDI)
Nitrochlorobenzene
Ammonium Nitrate

Based on the end use, the industry is divided into:

Agrochemicals
Explosives
Chemical
Mining

The regional markets for nitric acid include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

Some of the major players explored in the report by Expert Market Research are as follows:

BASF SE
Columbus Chemicals
Deepak Fertilisers and Petrochemicals Corporation Ltd
Mitsubishi Chemical Corporation
Nutrien Ltd.
Others

Regional Insights

North America: North America holds a significant share of the global Nitric Acid Market, driven by the demand from the agricultural and automotive sectors. The United States, in particular, is a major consumer of nitrogen-based fertilizers, and with stringent environmental regulations in place, the demand for cleaner nitric acid production technologies is expected to rise. Moreover, the automotive industry in the U.S. remains a key driver for the demand for nitric acid, given the increasing use of catalytic converters in vehicles.

Europe: Europe is another key region for the Nitric Acid Market, especially in the production of fertilizers and automotive catalysts. With the European Union enforcing stringent environmental regulations and promoting the development of cleaner industrial practices, the demand for nitric acid is expected to be influenced by the push toward sustainability. Additionally, the rise of the green energy sector is contributing to the demand for nitric acid in renewable energy technologies and storage devices.

Asia-Pacific: The Asia-Pacific region is expected to experience the highest growth in the Nitric Acid Market during the forecast period. The rapid industrialization and agricultural expansion in countries such as China, India, and Southeast Asian nations are driving the demand for fertilizers and chemicals. Furthermore, the automotive industries in China and India are significant contributors to the demand for nitric acid due to the increasing adoption of catalytic converters to meet stricter emissions standards.

Latin America and the Middle East & Africa: Emerging economies in Latin America and the Middle East & Africa are also contributing to the growing demand for nitric acid. The need for fertilizers to support agricultural activities, as well as expanding industries in these regions, is expected to drive market growth. Additionally, the adoption of environmental regulations in some countries in these regions is increasing demand for cleaner nitric acid production technologies.

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Nitric Acid Market Size, Share, Trends & Forecast | 2033