The global concentrated nitric acid market, according to a new report published by Transparency Market Research, will record dynamic growth during 2017-2025, owing to the robust growth of the fertilizers industry. The demand for fertilizers is ascribed to the rapid urbanization, decrease in arable land and increasing population growth. Furthermore, shortage of food crops and adverse climatic conditions are shifting focus towards fertilizers market.

The report has also attributed the growth of the global concentrated nitric acid to the growing automotive industry as nitric acid is used in manufacturing lightweight & strong body parts of vehicles. Furthermore, the concentrated nitric acid will grow as the demand for elastomers, synthetic rubbers and polyurethane foams in the industry continues to grow quickly.

The global concentrated nitric acid market, based on the type, is categorized into strong concentrated nitric acid and fuming concentrated nitric acid. While fuming concentrated acid has a concentration of 86% nitric acid solution, strong concentrated nitric acid has a concentration between 50% and 85%. According to the report, strong concentrated nitric acid will dominate the market during the forecast timeframe.

Strong concentrated nitric acid is majorly used in the production of different organic and inorganic nitrates like adipic acid, ammonium nitrate, and nitrobenzene, which are further used for numerous industrial applications. As the demand for ammonium nitrate continues to increase, the strong concentrated nitric acid segment will continue to dominate the market during the forecast period.

These findings are based on the report published by Transparency Market Research titled, “Concentrated Nitric Acid Market (Type – Strong, Fuming; Application – Ammonium Nitrate, Adipic Acid, Nitrobenzene, Toluene Diisocyanate) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025.”

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