Asia Pacific Nitric Acid Market Size & Outlook, 2023-2030
Asia Pacific nitric acid market, 2018-2030 (US$M)
Related Markets
Asia Pacific nitric acid market highlights
- The Asia Pacific nitric acid market generated a revenue of USD 2,601.3 million in 2023.
- The market is expected to grow at a CAGR of 2.4% from 2024 to 2030.
- In terms of segment, fertilizer was the largest revenue generating application in 2023.
- Nitrobenzene is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Thailand is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,601.3 million |
| Market revenue in 2030 | USD 3,062.6 million |
| Growth rate | 2.4% (CAGR from 2023 to 2030) |
| Largest segment | Fertilizer |
| Fastest growing segment | Nitrobenzene |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fertilizer, Nitrobenzene, Adipic Acid, Toluene di-isocyanate, Nitrochlorobenzene, Other Applications |
| Key market players worldwide | Basf SE, DuPont de Nemours Inc, Nutrien Ltd, APA Corp, CF Industries Holdings Inc, Incitec Pivot Ltd, Sasol, Eastman Chemical Co, LSB Industries Inc, Thyssenkrupp AG, Yara International ASA |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 8.6% of the global nitric acid market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 1,847.1 million by 2030.
Key Regions: U.S. , Brazil , China , Thailand , Canada
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Nitric Acid Market Scope
Nitric Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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.
Fertilizer was the largest segment with a revenue share of 81.08% in 2023. Horizon Databook has segmented the Asia Pacific nitric acid market based on fertilizer, nitrobenzene, adipic acid, toluene di-isocyanate, nitrochlorobenzene, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region has been a cumulation of the largest agrarian countries, including Thailand, Japan, India, Indonesia, the Philippines, and other agricultural-based economies. The large and growing population and rising income are expected to continue to drive the demand for agriculture commodities.
According to an economic report published by Robobank on “Asia Pacific: agricultural perspectives” in the past few years, Asia Pacific accounted for 19% of global agriculture and food exports and 31% of global agriculture and food imports. These abovementioned factors are expected to create a positive influence on the production of nitric acid-based fertilizers.
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Target buyers of Asia Pacific nitric acid market databook
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Our clientele includes a mix of nitric acid market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific nitric acid market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific nitric acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific nitric acid market size, by country, 2018-2030 (US$M)
Asia Pacific Nitric Acid Market Outlook Share, 2023 & 2030 (US$M)
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