Canada Nitric Acid Market Size & Outlook, 2023-2030
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Canada nitric acid market highlights
- The Canada nitric acid market generated a revenue of USD 1,281.1 million in 2023 and is expected to reach USD 1,517.2 million by 2030.
- The Canada 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.
Nitric acid market data book summary
| Market revenue in 2023 | USD 1,281.1 million |
| Market revenue in 2030 | USD 1,517.2 million |
| Growth rate | 2.4% (CAGR from 2023 to 2030) |
| Largest segment | Fertilizer |
| Fastest growing segment | Nitrobenzene |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 4.2% of the global nitric acid market in 2023.
- Country-wise, Russia is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. nitric acid market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 5,247.6 million by 2030.
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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 |
Canada 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 76.08% in 2023. Horizon Databook has segmented the Canada 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.
Canada is one of the prominent markets in the North America region. Globally, Canada accounts for 3% of the overall export volume of nitric acid. The presence of major fertilizer manufacturing facilities of companies such as Yara and Nutrien are driving the demand for nitric acid.
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Our clientele includes a mix of nitric acid market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada nitric acid market , including forecasts for subscribers. This country databook contains high-level insights into Canada nitric acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada nitric acid market size, by application, 2018-2030 (US$M)
Canada Nitric Acid Market Outlook Share, 2023 & 2030 (US$M)
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