Dilute Nitric Acid Market | Business Overview, Price and Forecast 2024 – 2032
The global dilute nitric acid market has witnessed significant growth over the past few years, driven by increasing demand from various end-use industries such as fertilizers, chemicals, and electronics. Dilute nitric acid, typically containing about 20-30% nitric acid by weight, is a crucial chemical intermediate used in various applications. Market Drivers Agriculture and Fertilizers: One of the primary drivers of the dilute nitric acid market is its extensive use in the production of fertilizers. Nitric acid is a key component in the manufacturing of ammonium nitrate, which is widely used as a fertilizer due to its high nitrogen content. The rising global population has led to increased food demand, necessitating higher agricultural productivity. This, in turn, has boosted the demand for fertilizers, thereby driving the market for dilute nitric acid. Chemical Manufacturing: Dilute nitric acid serves as a vital feedstock in the chemical industry. It is used in the production o