Nitric Acid Price in USA
- United States: 330 USD/MT
In Q4 2023, US nitric acid prices hit $330/MT due to Panama Canal delays and Red Sea attacks raising freight rates. In Europe, prices reached $170/MT due to shortages and rising ammonia costs.
The latest report by IMARC Group, titled “ Nitric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data ,” provides a thorough examination of the Nitric Acid price trend. This report delves into the Price of Nitric Acid globally, presenting a detailed analysis, along with an informative Nitric Acid Price Chart. Through comprehensive Nitric Acid price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes nitric acid historical data to provide context and depth to the current pricing landscape. The report also explores the Nitric Acid Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasting, making this Nitric Acid Prices report an invaluable resource for industry stakeholders.
Nitric Acid Prices December 2023:
- United States: 330 USD/MT
- Europe: 170 USD/MT
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The study delves into the factors affecting Nitric Acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It is an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Nitric Acid Price Trend – Q4 2023
The nitric acid market experienced fluctuations driven by several key factors, prominently influenced by supply chain issues and increased demand across various sectors. A critical driver is the shortage of essential feedstock, such as ammonia and natural gas, primarily due to disruptions in supply from major exporting countries. This shortage has directly impacted the production costs of nitric acid, pushing prices upwards. Additionally, robust demand from the fertilizer sector, both domestically and internationally, has significantly contributed to the rising market prices. For instance, heightened demand from Brazil has been a notable factor. The situation is further compounded by global trade challenges, including prolonged bottlenecks at major shipping points like the Panama Canal, which have led to delays and increased transportation costs.
Nitric Acid Market Analysis
The global nitric acid market size reached US$ 29.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 41 Billion, at a projected CAGR of 3.60% during 2023-2032. In the last quarter of 2023, the nitric acid market witnessed notable price variations influenced by a confluence of supply and demand dynamics, geopolitical incidents, and strategic trade decisions. Initially, a significant factor was the constrained supply of ammonia due to production issues, which directly affected the nitric acid production chain. For example, in Europe, a temporary halt in ammonia production by a major manufacturer led to a pronounced shortage in Germany, Italy, and the UK, escalating nitric acid prices significantly. The ripple effects of this shortage were felt across the market as nitric acid is a derivative of ammonia.
Furthermore, the demand side also played a crucial role in shaping the nitric acid market landscape. In APAC, particularly in China, the government's decision to cease additional export licenses led to a temporary surplus and subsequent price drop in the domestic market. However, as the quarter progressed, demand from the West in anticipation of the festive season led to a recovery in prices. This recovery illustrates the dynamic interplay between supply constraints and fluctuating demand patterns, influencing nitric acid prices. The overall market sentiment was cautious, with stakeholders closely monitoring both geopolitical developments and supply chain stability to strategize their operations effectively.
Key Points Covered in the Nitric Acid Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Nitric Acid Prices
- Nitric Acid Price Trend
- Nitric Acid Demand & Supply
- Nitric Acid Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Nitric Acid Price Analysis
- Nitric Acid Industry Drivers, Restraints, and Opportunities
- Nitric Acid News and Recent Developments
- Global Event Analysis
- List of Key Players
Regional Price 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, Colombia, Chile, Ecuador, and Peru
- Middle East & Africa : Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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