Nitric Acid Prices: Latest Trend, Chart, Analysis and Forecast

Nitric Acid Prices Second Quarter 2024:

United States: 273 USD/MT

The latest report by IMARC Group, titled “Nitric Acid Pricing Report 2024: Price Trend, Chart, Industry Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of the price trend. This report delves into the Price of Nitric Acid globally, presenting a detailed analysis, along with an informative Price Chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to provide context and depth to the current pricing landscape. The report also explores the Demand, analysing how it impacts industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasting, making this price report an invaluable resource for industry stakeholders.

Report Offering:

Monthly Updates - Annual Subscription
Quarterly Updates - Annual Subscription
Biannually Updates - Annual Subscription

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

Key Details About the Nitric Acid Price Trend – Second Quarter 2024

The demand for nitric acid is largely driven by its role in agriculture, particularly in the production of fertilizers like ammonium nitrate, which is essential for boosting crop productivity globally. Additionally, nitric acid is vital for manufacturing explosives such as TNT and dynamite, with increased construction and mining activities further fueling demand. The chemical industry also relies on nitric acid for synthesizing various compounds, contributing to its growing market. Advances in production technologies, prompted by stringent environmental regulations, are enhancing manufacturing efficiency and reducing emissions, which is influencing market trends. The industrial growth in emerging economies is bolstering nitric acid demand across sectors, while innovations in production processes are helping meet rising demand in agriculture, chemicals, and beyond.

Factors Influencing Nitric Acid Prices and Industry in The Different Regions

In North America: In Q2 2024, the North American nitric acid market experienced a significant price drop, primarily due to reduced demand from the fertilizer industry. Extreme weather conditions, including heatwaves and geomagnetic disturbances, led to a subdued planting season, lowering the need for nitrate-based fertilizers. This slowdown in the agricultural sector was a key factor behind the pricing decline.

In Asia Pacific Regions: Nitric acid prices in Asia showed mixed trends during Q2 2024, particularly in China. Prices dropped in the first and third months of the quarter, with a notable rise in May. The primary driver of the price reductions was an oversupply of nitric acid, caused by the resumption of operations at major plants such as Anhui Haoyuan and Fujian Wanhua. Additionally, declining demand for nitric acid derivatives, like glyoxylic acid, further contributed to the market's oversupply.

In Europe Regions: European nitric acid prices were volatile throughout Q2 2024, with declines in the first and last months of the quarter, and a price rise in May. The early price drop was largely due to reduced fertilizer demand, driven by unfavorable weather across the region. Excessive rainfall in countries like Austria, France, Italy, Germany, and the Netherlands disrupted agricultural activities, significantly affecting nitric acid demand in the European Union.

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.