Nitric Acid Global Industry – Market Analysis by Trade, Country & Region

Nitric acid, which comes
under HS Code 2808, is one of the
most traded products in the chemical industry around the world. It is a
poisonous liquid that gives off choking yellow or red fumes in moist air. This
colourless liquid is used in manufacturing organic & inorganic nitrates and
nitro compounds for paints, plastics, explosives, dye intermediates,
fertilizers and many other different organic chemicals. A report on nitric acid
trade prepared by Export Genius,
shows that global imports and exports of nitric acid amounted to USD 301
million and USD 276 million respectively in 2016. Europe, North America and
China dominate the market statistics. These regions account more than 80% of
global nitric acid demand and supply. Let’s have a glimpse of this report.

  

What
is Nitric Acid used for?

Nitric acid is majorly used
in fertilizers. About 80% of nitric acid is used in manufacturing of
fertilizers. Of this, 96% is used in producing calcium ammonium nitrate and
ammonium nitrate. A relatively small amount of this percentage is used to make
explosives. Nitric acid is also used to make intermediates in the polymer
industry including hexanedioic acid to make polyamides and toluene disocyanate
& methylbenzene discoyanate to make polyurethanes. Nitrobenzene is
basically used in aniline for making dyes. Why is nitric acid important? These
are few uses of this chemical product. 

 

Imports
and Exports of Nitric Acid in the World

Since 2012, global imports and exports of nitric acid have been falling
and reaching to new declining level. According to nitric acid global trade
statistics, import value and export value nitric acid stood at USD 301 million
and USD 276 million respectively in 2016. Here are import and export statistics
of nitric acid recorded in the last five years.

 

 

Nitric
Acid Trade by Country

Germany is the largest
importer country of nitric acid, which is followed by Belgium, Malaysia, France
and China. As per import data of nitric acid, Germany imports of nitric acid
amounted to USD 33 million in 2016. Belgium imports of nitric acid amounted to
USD 31 million during the same period. The nitric acid imports of both the
countries together amounted to USD 64 million in this year.

If we see global exports of
nitric acid, South Korea is the largest exporter country of nitric acid,
followed by Belgium, Germany, USA and France. According to nitric acid export
data, South Korea exports of nitric acid amounted to USD 54 million and
Belgium’s amounted to USD 45 million in 2016. The nitric acid exports of both
the countries together amounted to USD 99 million in this year. Here is a look
at nitric acid top 5 importer and exporter countries with their trade
statistics recorded in 2016.

 

Nitric
Acid Imports and Exports by Region

Europe is considered as a
leading consumer of nitric acid due to growth in fertilizer and explosives
industry. Eastern and western Europe is accounted for the largest demand of
nitric acid, while central Europe is projected to provider better
opportunities. Asia Pacific is likely to witness a significant growth in nitric
acid industry due to rising demand for vehicles, rapid urbanization and growing
interest for lightweight air vehicles. As far as North America is concerned, it
is anticipated to foresee substantial growth in the nitric acid sector due to
expanding automobile production in the region. Growing urbanization and
necessity for personal mobilization are some of the factors that are positively
affecting the industry demand. Let’s analyse import export statistics of nitric
acid by region.  

 

 

If you want to import or
export nitric acid in any of these countries mentioned above, you need to get
research-based report on nitric acid trade, which is available with Export
Genius with 100% authentic shipment records. It is one of the largest market
research companies providing import export data of 60+ counties and thousands
of products. Here is the Germany export sample of nitric acid.

  

About
Nitric Acid Climate Action Group

The major source of nitrous
oxide (N2O), a very potent greenhouse gas, is nitric acid. Nitrous oxide is the
main contributor to world’s environment pollution. In order to improve pre-2020
mitigation of nitrous oxide from the production of nitric acid incentivise
long-term sectoral transformation, Germany, which is the net importer of nitric
acid has taken an initiative to protect the environment. The German Federal
Ministry for the Environment, Nature Conservation, Building and Nuclear Safety
(BMUB) has launched the Nitric Acid Climate Action Group (NACAG). The long-term
objective of this group is to incentivise the installation of effective N2O
abatement technology in every plant of nitric acid all over the world. Its
vision is for the nitrous oxide emissions of an entire industrial industry to
be mitigated on a global scale.

How
Our Nitric Acid Import Export Data Helps?

As our shipment data of
nitric acid covers authentic customs-based details including importer &
exporter name, HS Code, product description, value, quantity, etc., so it
beneficial for importers, exporters, banks, logistics agencies, market research
companies and other business corporates in several ways. They can track their
competitor’s shipments, find new business opportunities, and search for
potential buyers or suppliers of nitric acid and so on. They can also find
details of nitric acid production, producers, suppliers, distributors and
manufacturers.

On the demand side,
exporters and strategic planners approaching the nitric acid market in Europe
face a number of questions. Which countries are supplying nitric acid to
European countries? How much do the imports of nitric acid and Sulphonitric
acids very from one country to another in Europe? These are few questions that
are answered through our report while having region-wise analysis. From our
import export statistics of nitric acid, we have created a report for
international marketing executives, strategic planners and import export
businessmen wo are concerned with the nitric acid global market.

In import export global
trade data of nitric acid, we cover details of leading companies in industry
that will help our clients to analyse their position in the market in terms of
strategic outlook, production capacity, competency and sustainability. Our data
also helps in analysing market trends, business challenges & opportunities
and industry pitfalls. So, subscribe for nitric acid import export data now! Contact Us for more information!