Mexico Nitric Acid Market Size & Outlook, 2023-2030
Mexico nitric acid market, 2018-2030 (US$M)
Related Markets
Mexico nitric acid market highlights
- The Mexico nitric acid market generated a revenue of USD 135.9 million in 2023 and is expected to reach USD 159.5 million by 2030.
- The Mexico market is expected to grow at a CAGR of 2.3% 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 135.9 million |
| Market revenue in 2030 | USD 159.5 million |
| Growth rate | 2.3% (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, Mexico accounted for 0.4% 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 |
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Mexico 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 78.44% in 2023. Horizon Databook has segmented the Mexico 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.
Mexico is one of the major emerging markets in the North American nitric acid industry. It is a highly import-dependent market with U.S. and Canada being its major importing partners.
The industry is expected to revolutionize as The Ministry of Environment of Mexico (SEMARNAT) has signed a commitment to reduce N2O emissions from nitric acid production to a minimum, through implementing appropriate political instruments by the end of 2024.
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Target buyers of Mexico 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 country-level data and insights on the Mexico nitric acid market , including forecasts for subscribers. This country databook contains high-level insights into Mexico nitric acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico nitric acid market size, by application, 2018-2030 (US$M)
Mexico Nitric Acid Market Outlook Share, 2023 & 2030 (US$M)
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