North America Nitric Acid Market Size & Outlook, 2023-2030
North America nitric acid market, 2018-2030 (US$M)
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North America nitric acid market highlights
- The North America nitric acid market generated a revenue of USD 5,604.8 million in 2023.
- The market is expected to grow at a CAGR of 3.1% 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.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 5,604.8 million |
| Market revenue in 2030 | USD 6,924.4 million |
| Growth rate | 3.1% (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, North America region accounted for 18.5% 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 |
|---|
North America 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 77.38% in 2023. Horizon Databook has segmented the North America 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.
North America is one of the more mature markets within the Nitric Acid industry. The consumption in the region is majorly driven by consumption trends in the U.S. fertilizer industry. The production of nitrogen fertilizer products is the major influencing factor for market growth.
The industry structure in the region is also going through a myriad of changes owing to merger and divestment activity. The sales of Agrium nitric assets to Trammo were one of the major events that have impacted the overall industry.
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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 continent-level data and insights on the North America nitric acid market , including forecasts for subscribers. This continent databook contains high-level insights into North America nitric acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America nitric acid market size, by country, 2018-2030 (US$M)
North America Nitric Acid Market Outlook Share, 2023 & 2030 (US$M)
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