Nitric Acid Price Trend, Chart, Analysis, Database & Demand

Key Details About the Nitric Acid Prices:

The Nitric Acid Price Trend is driven by several key factors that influence both supply and demand dynamics. A significant driver is the agricultural sector's demand for fertilizers, as nitric acid is a crucial component in various fertilizer formulations. Fluctuations in weather patterns, such as droughts or excessive rainfall, can impact crop yields and subsequently alter fertilizer requirements. The production of explosives and chemicals manufacturing, such as adipic acid, contribute to sustained demand for nitric acid. The growing emphasis on environmental regulations also drives innovation in production processes as manufacturers seek to enhance efficiency and reduce emissions. Furthermore, geopolitical factors and global supply chain considerations, including feedstock availability and transportation costs, play a critical role in shaping market conditions. As economies recover post-pandemic and agricultural activities resume, eventually, these factors will significantly affect the nitric acid market’s trajectory.

Nitric Acid Prices Second Quarter 2024:

United States: 273 USD/MT

Factors Influencing Nitric Acid Prices and Industry in Different Regions

In North America: During the second quarter of 2024, the North American nitric acid price trend experienced a price decline driven by several interrelated factors. A notable reduction in demand from the domestic fertilizer sector emerged as a primary contributor to this downturn. Adverse weather conditions, including extreme heat waves and disruptions caused by geomagnetic storms, resulted in a subdued planting season, leading to decreased fertilizer demand, particularly for nitric acid.

In Europe Regions: Additionally, international demand from European nations such as Norway and Spain remained weak, hampered by further adverse weather events, including windstorms and floods, which suppressed nitric acid consumption. The slight reduction in the cost of essential feedstock, ammonia, further exerted downward pressure on nitric acid prices by lowering production costs. Ample supply in the market also contributed to the overall price decline.

In Asia Pacific Regions: On the other hand, the Asian market exhibited mixed trends, particularly in China, where prices fluctuated, declining in the first and third months of the quarter but rising in May due to active stockpiling ahead of the rice and cotton planting seasons. Despite this domestic uptick, international demand remained moderate, particularly in Europe, where excessive rainfall hindered agricultural productivity and reduced the immediate need for nitric acid as a fertilizer. Torrential rains and flooding in southern Europe caused evacuations and significant infrastructure damage along the river Rhine, increasing the price of nitric acid by reducing its availability. Concurrently, strong demand for Adipic Acid from textiles, electronics, and modification industries supported routine procurement, further contributing to the rise in nitric acid prices.

Request For a Sample Copy of the Report: https://www.imarcgroup.com/nitric-acid-pricing-report/requestsample

Overall, Price Trend and Regional Prices Analysis:

Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.