Global Nitric Acid Market Size & Outlook, 2026-2033
Global nitric acid market, 2021-2033 (US$M)
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Global nitric acid market highlights
- The global nitric acid market generated a revenue of USD 33,058.0 million in 2025 and is expected to reach USD 40,825.8 million by 2033.
- The market is expected to grow at a CAGR (2026 - 2033) of 2.7% by 2033.
- In terms of segment, fertilizers accounted for a revenue of USD 26,993.6 million in 2025.
- Nitrobenzene is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2025.
- Country-wise, Canada is expected to register the highest CAGR from 2026 to 2033.
Global data book summary
| Market revenue in 2025 | USD 33,058.0 million |
| Market revenue in 2033 | USD 40,825.8 million |
| Growth rate | 2.7% (CAGR from 2026 to 2033) |
| Largest segment | Fertilizers |
| Fastest growing segment | Nitrobenzene |
| Historical data covered | 2021 - 2024 |
| Base year for estimation | 2025 |
| Forecast period covered | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fertilizers, Nitrobenzene, Adipic acid, Toluene diisocyanate (TDI), Nitrochlorobenzene, Other |
Other key industry trends
- In terms of revenue, the North America accounted for 18.9% of the global nitric acid market in 2025.
- By country, the Russia is projected to lead the global market in terms of revenue in 2033.
- By country, Canada is the fastest growing regional market and is projected to reach USD 1,919.7 million by 2033.
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Nitric Acid Market Scope
Nitric Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| LSB Industries Inc | View profile | 586 | 3503 North West 63rd Street, Suite 500, Oklahoma City, OK, United States, 73116 | https://www.lsbindustries.com |
| APA Corp | View profile | 2271 | 2000 Post Oak Boulevard, Suite 100, One Post Oak Central, Houston, TX, United States, 77056-4400 | https://www.apacorp.com |
| Sasol | View profile | 10001+ | Johannesburg, NA - South Africa, South Africa, Africa | http://www.sasol.com |
| Incitec Pivot Ltd | View profile | 5814 | 28 Freshwater Place, Level 8, Southbank, Melbourne, VIC, Australia, 3006 | https://www.incitecpivot.com.au |
| CF Industries Holdings Inc | View profile | 2700 | 2375 Waterview Drive, Northbrook, IL, United States, 60062 | https://www.cfindustries.com |
| Yara International ASA | View profile | 18000 | Drammensveien 131, Oslo, Norway, 0277 | https://www.yara.com |
| Nutrien Ltd | View profile | 25900 | 211 19th Street East, Suite 1700, Saskatoon, SK, Canada, S7K 5R6 | https://www.nutrien.com |
| Thyssenkrupp AG | View profile | 100202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | https://www.thyssenkrupp.com |
| Eastman Chemical Co | View profile | 14000 | 200 South Wilcox Drive, Kingsport, TN, United States, 37662 | https://www.eastman.com |
| DuPont de Nemours Inc | View profile | 24000 | 974 Centre Road, Building 730, Wilmington, DE, United States, 19805 | https://www.dupont.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
Global nitric acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to nitric acid market will help companies and investors design strategic landscapes.
Fertilizers was the largest segment with a revenue share of 81.66% in 2025. Horizon Databook has segmented the Global nitric acid market based on fertilizers, nitrobenzene, adipic acid, toluene diisocyanate (tdi), nitrochlorobenzene, other covering the revenue growth of each sub-segment from 2021 to 2033.
Market Dynamics
Fertilizers are used to improve the yield of soil. They can be classified into two types organic and inorganic. Manure, fish meal, granite meal, and seaweed fall under the organic type. Inorganic fertilizers include nitrogen fertilizers, potassium fertilizers, and phosphorus fertilizers. Inorganic fertilizers are more commonly used since they give quick results in comparison to organic fertilizers.
Inorganic fertilizers can be divided into two broad sub-segments, namely macronutrients and micronutrients. Macronutrients are the elements that are needed in larger quantities and include nitrogen, phosphorus, potassium, and calcium.
Out of these, nitrogen is the most important nutrient. Micronutrients include elements such as iron, manganese, and chlorine, which are used in minute quantities. Growing demand for food grain due to the increasing population and the positioning of subsidiary scheme to purchase fertilizers by the governments of various nations have increased the consumption of fertilizers in the agriculture sector.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global nitric acid market , including forecasts for subscribers. This global databook contains high-level insights into Global nitric acid market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Nitric acid market: Opportunity assessment by country
Global nitric acid market, by region, 2025 (US$M)
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