The Nitric Acid Market size is estimated at 67.33 Million tons in 2024, and is expected to reach 78.44 Million tons by 2029, growing at a CAGR of 3.10% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the world, disruptions in manufacturing activities and supply chains, and production halts negatively impacted the nitric acid market. Currently, the market has recovered from the pandemic and is growing at a significant rate.
The nitric acid market is fragmented in nature. The major companies in the market studied (not in any particular order) include CF Industries Holdings Inc., HUCHEMS, Yara, LSB INDUSTRIES, and Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL).
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