China Nitric Acid Market Size & Outlook, 2023-2030
China nitric acid market, 2018-2030 (US$M)
Related Markets
China nitric acid market highlights
- The China nitric acid market generated a revenue of USD 1,231.5 million in 2023 and is expected to reach USD 1,423.9 million by 2030.
- The China market is expected to grow at a CAGR of 2.1% 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 1,231.5 million |
| Market revenue in 2030 | USD 1,423.9 million |
| Growth rate | 2.1% (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, China accounted for 4.1% 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 Asia Pacific, China nitric acid market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 265.5 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Nitric Acid Market Scope
Nitric Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China 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 79.18% in 2023. Horizon Databook has segmented the China 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.
China, with only 7% of arable land, feeds approximately 22% of the global population. Rice, wheat, barley, millet, soybeans, tomatoes, potatoes, peanuts, tea, and cotton are the major crops produced in the country. Rice is the staple crop of China, and more than 25% of their cultivable land is used for rice production.
The demand for nitric acid products in China is driven by small farmers who are adopting organic fertilizers to increase crop yields. Heavy demand for nitrogen-based fertilizers which is formulated from calcium ammonium nitrate and ammonium nitrate over the forecast period, which in turn propels the market.
Reasons to subscribe to China nitric acid market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of China nitric acid market databook
-
Our clientele includes a mix of nitric acid market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China nitric acid market , including forecasts for subscribers. This country databook contains high-level insights into China nitric acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
China nitric acid market size, by application, 2018-2030 (US$M)
China Nitric Acid Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
