In a recent published report, Kenneth Research has updated the market report for Nitric acid Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nitric acid Market products.
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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Nitric Acid Market was valued at USD 16.4 Billion in the year 2017. Global Nitric Acid Market is further estimated to grow at a CAGR of 3.8% from 2018 to reach USD 22.83 Billion by the year 2025. Europe region holds the highest Market share in 2017 and the Asia-Pacific Market is considered as the fastest growing Market in the forecasted period. At a country level, developed markets like the US as well the emerging markets like China with highest population base holds the notable Market share in 2017 and it is projected to grow at a gradual rate in the coming years.
The major players in Global Nitric Acid Market are Eurochem Group, BASF SE, The Chemours Company, Nutrien Ltd., Dyno Nobel, Yara International, Sumitomo Chemical Co. Ltd. and other 13 companies detailed information is provided in research report. BASF SE is holding the substantial Market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
Between TDI (Toluene diisocyanate), Fertilizers, Nitrobenzene, Adipic Acid, Fertilizers segment because of the growing popularity and availability is expected to hold the highest Market share during the forecast period.
Nitric Acid Market Overview By Final Use
TDI (Toluene diisocyanate)
Fertilizers
Nitrobenzene
Adipic Acid
Others
Nitric Acid Market Overview By Application
Metallurgical Industries
Chemicals & Allied Industries
Nitric Acid Market Overview By Market Type
Commercial
Industrial
Automotive
Sports & Entertainment
Residential
Nitric Acid Market Overview By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Key points covered in this report:
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
- The import and export details along with consumption value and production capability of every region is mentioned in the report.
- Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
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Table of Content
1. Introduction
1.1 Industry Vision
1.2 Limitations
1.3 Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.1.1. Key Data from Secondary Research
2.1.2. Primary Research
2.1.2.1. Key Data from Primary Research
2.1.2.2. Breakdowns of Primary Interviews
2.2. Industry Size Estimation
2.2.1. Bottoms-Up Approach
2.2.2. Top-Down Approach
2.2.3. Annual Revenue Process
2.3. Data Triangulation
2.4. Research Assumptions
2.4.1. Assumption
3. Executive Summary
4. Industry Overview
4.1. Introduction
4.2. Strength
4.3. Weakness
4.4. Opportunities
4.5. Threats
4.6. Regulations
4.7. Supply Chain/Value Chain Analysis
4.8. Patent & Standards
5. Industry Trends
5.1. Introduction
5.2. Porter’s Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Threat of Substitutes
5.2.3. Bargaining Power of Buyers
5.2.4. Bargaining Power of Suppliers
5.2.5. Intensity of Competitive Rivalry
6. Nitric Acid Industry, By Final Use
6.1. TDI (Toluene di isocyanate)
6.2. Fertilizers
6.3. Nitrobenzene
6.4. Adipic Acid
6.5. Others
7. Nitric Acid Industry, By Application
7.1. Metallurgical Industries
7.2. Chemicals & Allied Industries
8. Geographical Analysis
8.1. Introduction
8.2. North America
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