Concentrated Nitric Acid Market Report 2026

The concentrated nitric acid market size has grown steadily in recent years. It will grow from $19.58 billion in 2025 to $20.18 billion in 2026 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to expansion of fertilizer production capacities, growth of chemical manufacturing industries, rising demand from explosives manufacturing, increasing use in metal processing applications, availability of large-scale nitric acid plants.

The concentrated nitric acid market size is expected to see steady growth in the next few years. It will grow to $22.28 billion in 2030 at a compound annual growth rate (CAGR) of 2.5%. The growth in the forecast period can be attributed to increasing investments in agrochemical production, rising demand from advanced materials manufacturing, expansion of mining and infrastructure projects, growing focus on domestic chemical supply chains, increasing safety and compliance requirements. Major trends in the forecast period include increasing demand for high-purity nitric acid, rising use in agrochemical manufacturing, growing adoption in specialty chemical production, expansion of explosives and propellant applications, enhanced focus on safe acid handling systems.

The rising construction activities are expected to drive the growth of the concentrated nitric acid market. Construction activities involve building, repairing, or modifying structures and infrastructure. Rapid urbanization and increasing population density in cities are fueling demand for residential, commercial, and transportation infrastructure, which in turn increases the need for concentrated nitric acid. It is essential for manufacturing explosives used in mining, blasting, and excavation operations required for infrastructure projects. For example, in June 2025, Eurostat, a Luxembourg-based statistical office of the European Union, reported that construction production rose by 3% in the euro area and 2.5% in the EU in April 2025 compared with April 2024. Therefore, rising construction activities are propelling the concentrated nitric acid market.

The growing manufacturing industry is also expected to support the growth of the concentrated nitric acid market. The manufacturing sector involves producing physical goods through various processes, from raw materials to finished products. Concentrated nitric acid is a key oxidizing agent used for metal etching, surface passivation, and the production of chemicals and explosives. For instance, in July 2023, Eurostat reported that industrial output in the European area increased by 0.2%, with a 0.1% rise in the European Union between May and April 2023. Therefore, the expanding manufacturing sector is driving the demand for concentrated nitric acid.

Major companies in the concentrated nitric acid market are focusing on innovative technologies to reduce greenhouse gas emissions and comply with climate regulations. For example, in July 2023, Orica, an Australia-based commercial explosives company, announced a project at its Kooragang Island facility to reduce greenhouse gas emissions by nearly 50%. The initiative incorporates renewable hydrogen into ammonia production in collaboration with Origin Energy through the Hunter Valley Hydrogen Hub, using a grid-connected electrolyser to produce hydrogen from recycled water and renewable electricity. The project also employs advanced technology to reduce nitrous oxide (N₂O) emissions from its three nitric acid plants by at least 98%, supporting Orica’s sustainability goals.

Major companies operating in the concentrated nitric acid market are Nutrien Ltd., BASF SE, Dupont de Nemours Inc., LSB Industries Inc., CF Industries Holdings Inc., Deepak Fertilisers and Petrochemicals Corporation Ltd., Koch Fertilizers LLC, National Chemical Group Co. Ltd., OCI N.V., Shandong Fengyuan Chemical Stock Co. Ltd., Ube Industries Ltd., Yara International ASA, Gujarat Narmada Valley Fertilizers & Chemicals Limited, EuroChem Group AG, Grupa Azoty S.A., Abu Qir Fertilizers and Chemicals Company, Sichuan Chuanxi Xingda Chemical Co. Ltd., Shandong Haili Chemical Industry Co. Ltd., Nitro Química S.A., GACL-NALCO Alkalies & Chemicals Pvt. Ltd., Rashtriya Chemicals & Fertilizers Ltd., Dow Inc., Eastman Chemical Company, Mitsui Chemicals Inc.

Asia-Pacific was the largest region and fastest growing in the concentrated nitric acid market share in 2025. The regions covered in the concentrated nitric acid market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the concentrated nitric acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The concentrated nitric acid consists of hydrogen nitrate, ammonium nitrate, adipic acid, nitrobenzene, and toluene diisocyanate. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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