Nitric Acid Market Industry Analysis, Growth Opportunities and Forecast 2022: Grand View Research Inc.
San Francisco, 12 December 2019: The Report Nitric Acid Market Size, Share & Trends Analysis Report By Application (Fertilizers, Adipic Acid, Nitrobenzene, Toulene di-isocynate, Nitrochlorobenzene), By Region, Vendor Landscape, And Segment Forecasts, 2012 – 2022 The global nitric acid market size is expected to reach USD 14.0 billion by 2022, according to a new report by Grand View Research, Inc., progressing at a CAGR of 1.8% during the forecast period. Flourishing agriculture industry and surging demand for fertilizers are among the key trends escalating market growth. Growing need for high yield in order to meet demands of ever-rising population is creating an upswing in the use of synthetic fertilizers, which is anticipated to have a positive impact on the market. Growth in chemical processing industry, particularly in developing countries including China and India, is likely to further fuel the demand for nitric acid. Ammonium nitrate fertilizer is estimat