#Nitric #Acid #Market #Size #Expected #Reach #USD
Pune, India, Oct. 06, 2022 (GLOBE NEWSWIRE) — The global nitric acid market size is expected to reach USD 27,536.9 million by 2027, exhibiting a CAGR of 3.5% during the forecast period. The booming automotive industry in developing nations has led to high consumption of this acid, which, in turn, will bode well for the market.
According to Fortune Business Insights, in a report, titled “Nitric Acid Market Size, Share & COVID-19 Impact Analysis, By Application (Fertilizers, Nitrobenzene, Adipic Acid, Toluene Di-isocyanate, and others), and Regional Forecast, 2020-2027.” The market size stood at USD 22,268.1 million in 2019.
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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/nitric-acid-market-104566
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 3.5 % |
| 2027 Value Projection | USD 27,536.9 Million |
| Base Year | 2021 |
| Nitric Acid Market Size in 2019 | USD 22,268.1 Million |
| Historical Data | 2016-2018 |
| No. of Pages | 100 |
| Segments Covered | By Type, End-user, and Regional Insights |
| Nitric Acid Industry Growth Drivers | Demand for Fuel Efficient and Eco-Friendly vehicles to Incite Development |
| Increasing Use of Fertilizers for Higher Crop Yield to Bolster Market |
Disturbed Supply Chain to Affect HNO3 Production Amid Coronavirus
The coronavirus pandemic had a drastic impact on industries, causing a temporary shutdown of manufacturing and trade activities. The declined demand and production have disrupted the supply chain.
Moreover, the momentary halt on automotive production has led to reduced demand for this type of acid, thus…
Read on GNW: Nitric Acid Market Size is Expected to Reach USD 27,536.9
