Europe Nitric Acid Market Size & Outlook, 2023-2030
Europe nitric acid market, 2018-2030 (US$M)
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Europe nitric acid market highlights
- The Europe nitric acid market generated a revenue of USD 19,851.8 million in 2023.
- The market is expected to grow at a CAGR of 2.2% 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, Russia is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 19,851.8 million |
| Market revenue in 2030 | USD 23,106.0 million |
| Growth rate | 2.2% (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, Europe region accounted for 65.5% 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.
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Nitric Acid Market Scope
Nitric Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe 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 80.85% in 2023. Horizon Databook has segmented the Europe 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.
Europe is one of the major markets in terms of volumetric consumption of nitric acid. The demand in Central Europe is growing at a steady pace owing to maturity in end-use industries. However, Eastern Europe is still showing huge potential for expansion.
A large number of new capacities are expected to come online in the next few years that can drive market growth in the region. The industry structure in the region is highly concentrated as major manufacturers account for around 40% of the market share.
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Our clientele includes a mix of nitric acid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 Europe nitric acid market , including forecasts for subscribers. This continent databook contains high-level insights into Europe nitric acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe nitric acid market size, by country, 2018-2030 (US$M)
Europe Nitric Acid Market Outlook Share, 2023 & 2030 (US$M)
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