Nitric Acid Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2028

Nitric Acid Market was valued at USD 25 billion in 2020 and is expected to grow at a CAGR of 5% between 2022 and 2028. Nitric acid is a strong acid with the formula HNO3. It is also known as the spirit of niter and aqua Fortis. In its pure form, it is colorless, but with age it turns into a yellow cast. This color appears due to the decomposition of nitric acid to nitrogen and water oxides. It is highly corrosive and toxic. Causes severe skin burns. Reacts with hydroxides, metals and oxides to form nitrate salts.

Adipic acid formulation is one of the main applications of nitric acid; it is widely used to formulate nylon resin and fiber in the automotive industry. The development of the automotive sector needs constant innovation, such as high final component design and lightweight materials, effectively improve performance and fuel efficiency. These factors positively affect the production of nitric acid worldwide. Government regulations curb carbon emissions for packaging methods for the use of nylon to produce plastic, fabric to replace heavy alternative fuels, reducing consumption and at the same time reducing emissions levels.

Top Major Key Players Industries:

BASF SE
Nutrien Ltd
Yara
LSB INDUSTRIES
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL)

By End-user Industry

Fertilizers
Aerospace
Inks, Pigments, and Dyes
Chemical Manufacturing
Explosives
Other End-user Industries

By Application

• Fertilizers
  • Ammonium Nitrate
  • Calcium Ammonium Nitrate
  • Others
• Nitrobenzene
• Adipic Acid
• Toluene di-isocyanate
• Nitrochlorobenzene
• Others 

Scope of the Report

The research study analyzes the global Warehousing Logistics Robots industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Warehousing Logistics Robots Market Report

1. What was the Warehousing Logistics Robots Market size in 2018 and 2022; what are the estimated growth trends and market forecast (2022-2028).
2. What will be the CAGR of Warehousing Logistics Robots Market during the forecast period (2022-2028)
3. Which segments (product type or applications or end-user) were most attractive for investments in 2018 How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer vendor or players in the Warehousing Logistics Robots Market was the market leader in 2018
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.