Market Overview
| Study Period | 2024 - 2030 |
|---|---|
| Market Volume (2025) | 69.36 Million tons |
| Market Volume (2030) | 80.96 Million tons |
| Growth Rate (2025 - 2030) | 3.12% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Nitric Acid Market Analysis by Mordor Intelligence
The Nitric Acid Market size is estimated at 69.36 Million tons in 2025, and is expected to reach 80.96 Million tons by 2030, at a CAGR of 3.12% during the forecast period (2025-2030). Sustained investments in low-carbon ammonia, widening explosives demand, and strong fertilizer offtake continue to anchor the nitric acid market, yet rising environmental compliance costs and volatile gas prices are reshaping cost curves. Europe is moving quickly toward green production methods as BAT-AEL standards tighten, while North America leverages blue ammonia projects to improve energy security. Early movers integrating carbon capture, renewable hydrogen, and advanced catalysts are gaining margin resilience as commodity price swings intensify.
Key Report Takeaways
- By concentration, weak nitric acid captured 58% of the nitric acid market share in 2024; concentrated nitric acid is forecast to expand at a 3.6% CAGR to 2030.
- By end-user industry, fertilizers dominated with 70% revenue share in 2024, while explosives led growth at a 3.93% CAGR through 2030.
- By geography, Asia-Pacific accounted for 58% of the nitric acid market size in 2024 and is advancing at a 3.74% CAGR to 2030.
Global Nitric Acid Market Trends and Insights
Driver Impact Analysis
| Drivers | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Low-carbon ammonium-nitrate fertilizer demand | +0.8% | Europe, spillover to North America | Medium term (2-4 years) |
| Polyamide 6,6 adoption for automotive lightweighting | +0.5% | EU, gradual uptake in North America and Asia | Medium term (2-4 years) |
| Government support for on-site weak nitric acid plants | +0.4% | India, extension to select emerging markets | Short term (≤ 2 years) |
| Expanding demand from explosives manufacturing | +0.7% | Global, mining-intensive regions | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Surging Demand for Low-Carbon Ammonium-Nitrate Fertilisers Across Europe
Europe’s fertilizer producers are pivoting toward renewable hydrogen to satisfy the Renewable Energy Directive III requirement that 42% of hydrogen input be renewable by 2030. Early adopters with secured green feedstock face fewer supply shocks and can lock in offtake agreements with food-retail chains seeking lower scope-3 emissions. Leading producers have responded by advancing large-scale CCS projects, with Yara’s 2026 Sluiskil CCS facility expected to materially lower Scope 1 emissions. The shift deepens the link between the nitric acid market and the European Union’s climate targets, encouraging new joint ventures in green ammonia corridors.
Rising Adoption of Polyamide 6,6 for EU Automotive Lightweighting Targets
The EU passenger-car CO₂ cap of 95 g/km is intensifying the substitution of metals with high-performance polymers. Polyamide 6,6 delivers up to 40% weight savings, improving EV range without compromising structural integrity[1]European Commission Team, “Towards Recycled Plastic Content Targets in New Passenger Cars and Light Commercial Vehicles,” Publications Office of the European Union, europa.eu . Because adipic acid, a nitric acid derivative, remains the main precursor, every incremental shift to polyamide 6,6 boosts regional nitric acid demand. Supply chains are refocusing on high-purity grades, prompting planned capacity additions by UBE Corporation for electronic-grade nitric acid to serve polymer producers. Automotive Tier-1 suppliers are aligning long-term resin offtake contracts with nitric acid producers to secure consistent quality and feedstock reliability ahead of stricter Euro 7 regulations.
Government Incentives for On-Site Weak Nitric Acid Plants in Indian Pharma Clusters
The Production-Linked Incentive scheme encourages localized production of essential chemical inputs. Deepak Fertilisers and Petrochemicals Corporation has committed INR 19.5 billion (USD 234 million) to build a 300 KTPA weak nitric acid unit plus two concentrated nitric acid units totaling 150 KTPA in Dahej, closing India’s supply gap. Pharmaceutical manufacturers benefit from shorter lead times, lower logistics risk, and compliance with FDA nitrosamine guidance that demands robust precursor control. The clustering model aligns with India’s goal of import substitution in key intermediates while exporting finished formulations.
Increasing Demand from Explosives Manufacturing
Mining and infrastructure expansion underpin explosives consumption, driving the fastest growth within the nitric acid market. The Bureau of Alcohol, Tobacco, Firearms, and Explosives’ 2024 update now explicitly lists nitric acid in explosives precursors, heightening compliance needs. Suppliers are refining ammonium-nitrate-fuel-oil blends with tailored plastic additives that raise detonation velocity without elevating toxic emissions. Equipment OEMs integrate digital process controls that adjust charge profiles in real time, lowering overall explosives consumption per metric ton of ore and reinforcing demand for higher-quality nitric acid grades.
Restraint Impact Analysis
| Restraints | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| EU BAT-AEL tightening for N₂O emissions | -0.6% | Europe, spillover to OECD markets | Short term (≤ 2 years) |
| Volatile natural gas prices | -0.7% | Global, highest exposure in Europe | Medium term (2-4 years) |
| Health hazards caused by nitric acid | -0.2% | Global | Long term (≥5 yrs) |
| Source: Mordor Intelligence | |||
EU BAT-AEL Tightening for N₂O Emissions Raising Capex and Opex
The European Commission’s ongoing revision of the LVIC BREF sets lower nitrous oxide benchmarks, compelling retrofits or new abatement installations across aging assets[2]European Commission, “LVIC BREF Kick-off Meeting Report,” europa.eu. Capital requirements for secondary-catalyst systems or tertiary destruction units can exceed USD 8 million per line, eroding margins on middle-aged plants. Operators with integrated CCS or advanced burners, such as BOC Limited’s CO₂ Recovery and Liquefaction plant, enjoy a cost advantage when bidding long-term supply contracts. The policy environment accelerates plant closures or asset swaps, consolidating the nitric acid market around top-tier producers with balance-sheet capacity for compliance investments.
Volatile Natural Gas Prices Squeezing Ammonia-to-Nitric-Acid Margins
Natural gas accounts for up to 85% of ammonia cost, making nitric acid economics highly sensitive to price shocks. Spot ammonia spikes flowed directly into nitric acid feedstock costs and reduced operating rates below 60% in several continental plants. Producers in low-cost gas regions such as the Middle East have increased exports, while North American blue ammonia projects aim to protect domestic nitric acid users from import volatility. The price swings encourage formula-based pricing models that pass through gas cost changes but increase working-capital requirements for downstream buyers.
Segment Analysis
By Concentration: Weak Nitric Acid Dominates Production Landscape
Weak nitric acid commanded 58% of the market share in 2024, reflecting its versatility in fertilizer and intermediate applications. The segment benefits from lower corrosion management expenses, enabling producers to operate single mono-pressure loops with minimal upgrading. The nitric acid market size tied to weak grades is expected to advance steadily as Europe mandates controlled nitrate release fertilizers that rely on weak acid neutralization.
Concentrated nitric acid, accounting for the next-largest volume slice, is gaining momentum at a 3.6% CAGR on the back of rising explosives and electronics requirements. Capacity additions in high-purity lines, notably UBE’s expansion in Yamaguchi Prefecture, aim to capture specialty segment premiums. Fuming nitric acid remains niche yet strategically significant for aerospace propulsion.
Note: Segment shares of all individual segments available upon report purchase
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By End-User Industry: Fertilizers Maintain Market Dominance
Fertilizers held a commanding 70% share of nitric acid consumption in 2024 because nitrogen remains indispensable for crop yield maintenance. Producers are differentiating through carbon-footprint labeling, and early adopters that integrate renewable ammonia achieve premium pricing in food-retail supply contracts. The nitric acid market size linked to fertilizers is projected to move broadly in line with global urea-ammonium-nitrate demand, supported by population growth and dietary shifts.
The explosives segment leads growth with a 3.93% CAGR, given rising copper, lithium, and critical mineral output that requires efficient blasting. Suppliers are investing in low-emission ANFO formulations and digital loading systems, reinforcing demand for high-purity nitric acid.
Note: Segment shares of all individual segments available upon report purchase
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Geography Analysis
Asia-Pacific commands 58% of the nitric acid market in 2024 and is expanding at 3.74% CAGR as heavy industry, fertilizer usage, and electronics manufacturing grow in tandem. China continues to invest in nitric-based intermediates, though environmental inspections are pushing older units toward catalytic upgrades. India’s Dahej project by Deepak Fertilisers adds 450 KTPA combined capacity, lifting the country’s self-reliance ratio and reducing net imports.
Europe’s share continues to shrink under high energy costs and stringent emission controls. The tightening BAT-AEL limits will push marginal producers either to retrofit or exit, consolidating output among integrated giants such as BASF and Yara. North America benefits from abundant shale gas and evolving blue ammonia ventures. OCI’s Beaumont facility adds a low-carbon supply corridor that feeds Gulf Coast nitric and nitrate plants from 2025.
South America remains structurally short on nitrogen, with 95% of Brazil’s needs met via imports. Green-fertilizer uptake is rising as soybean producers pursue premium export certifications. However, currency volatility and infrastructure bottlenecks restrict immediate capacity investments in nitric acid.
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Competitive Landscape
The global nitric acid market remains highly fragmented. Strategic repositioning centers on decarbonization. Digitalization further differentiates leaders. Advanced APC (advanced process control) systems embedded in new builds can raise conversion efficiency by 2–3 percentage points, translating into gas savings and lower carbon intensity. Meanwhile, partnerships with green-power developers secure renewable attributes that enhance product appeal in downstream sustainability certification schemes.
Nitric Acid Industry Leaders
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Yara
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BASF
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CF Industries Holdings, Inc.
-
Nutrien
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OCI Global
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- March 2025: Gujarat Narmada Valley Fertilizers & Chemicals Ltd awarded thyssenkrupp Udhe India a contract for a 600 MTPD weak nitric acid plant, raising company capacity by 57% and supporting domestic Make in India initiatives.
- November 2024: UBE Corporation announced an expansion of high-purity nitric acid capacity at its Ube Chemical Factory to meet semiconductor and specialty polymer demand.
Global Nitric Acid Market Report Scope
Nitric acid is a colorless, highly corrosive mineral acid with the chemical formula HNO3. It can be produced through a two-step process, including the oxidation of ammonia and the absorption of nitrogen oxides produced. Nitric acid has major applications in the fertilizer industry.
The nitric acid market is segmented by end-user industry and geography. By end-user industry, the market is segmented into fertilizers, aerospace, inks, pigments, dyes, chemical manufacturing, explosives, and other end-user industries (metal treatment, uranium processing, etc.). The report also covers the market size and forecasts for the nitric acid market in 27 countries across the major regions.
For each segment, the market sizing and forecasts have been done based on volume (tons).
By Concentration
| Weak Nitric Acid (less than or equal to 68%) |
| Concentrated Nitric Acid (68 to 98%) |
| Fuming/Red Fuming (more than 98%) |
By End-user Industry
| Fertilisers |
| Chemical Manufacturing |
| Explosives |
| Aerospace |
| Inks, Pigments and Dyes |
| Other End-user Industries (Pharmaceuticals and Food Processing) |
By Geography
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Indonesia | |
| Malaysia | |
| Vietnam | |
| Thailand | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Russia | |
| Turkey | |
| Nordic | |
| Rest of Europe | |
| South America | Brazil |
| Argentina | |
| Colombia | |
| Rest of South America | |
| Middle-East and Africa | Saudi Arabia |
| United Arab Emirates | |
| Qatar | |
| Nigeria | |
| Egypt | |
| South Africa | |
| Rest of Middle-East and Africa |
| By Concentration | Weak Nitric Acid (less than or equal to 68%) | |
| Concentrated Nitric Acid (68 to 98%) | ||
| Fuming/Red Fuming (more than 98%) | ||
| By End-user Industry | Fertilisers | |
| Chemical Manufacturing | ||
| Explosives | ||
| Aerospace | ||
| Inks, Pigments and Dyes | ||
| Other End-user Industries (Pharmaceuticals and Food Processing) | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Indonesia | ||
| Malaysia | ||
| Vietnam | ||
| Thailand | ||
| Rest of Asia-Pacific | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Turkey | ||
| Nordic | ||
| Rest of Europe | ||
| South America | Brazil | |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| Middle-East and Africa | Saudi Arabia | |
| United Arab Emirates | ||
| Qatar | ||
| Nigeria | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle-East and Africa | ||
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Key Questions Answered in the Report
What is the current size of the nitric acid market?
The nitric acid market size is 69.36 million tons in 2025 and is forecast to reach 80.96 million tons by 2030.
Which region leads the nitric acid market in 2025?
Asia-Pacific leads with 58% share and the fastest regional CAGR of 3.74% during 2025-2030.
Why is weak nitric acid the dominant concentration segment?
Weak nitric acid accounts for 58% of 2024 volume because it offers lower production costs and versatility in fertilizer and chemical applications.
What is driving the fastest growth in nitric acid end-use sectors?
Explosives manufacturing is the fastest-growing end-use, rising at a 3.93% CAGR on the back of expanding mining and infrastructure projects.
How are environmental regulations affecting nitric acid producers in Europe?
Tightening BAT-AEL limits for N₂O emissions increase capital spending on abatement technologies and hasten consolidation among compliant, integrated producers.
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