LONDON--(BUSINESS WIRE)--The nitric acid market is expected to grow by 9.92 million tons during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the nitric acid market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the response, recovery, and renewal phases. Download a Free Sample Report on COVID-19
The nitric acid market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the next normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Nitric Acid Market Participants:
BASF SE operates its business through various segments such as Agricultural Solutions, and Other. The company offers nitric acid, which is a strong oxidation agent and is used as an essential raw material for the chemical as well as the pharmaceutical industry.
CF Industries Holdings Inc.
CF Industries Holdings Inc. operates its business through various segments such as Ammonia, Granular urea, Urea Ammonium Nitrate, Ammonium Nitrate (AN), and Others. The company offers nitric acid of commercial grade.
Dow Inc. operates its business through various segments such as Packaging and Specialty Plastics, Industrial Intermediates and Infrastructure, and Performance Materials and Coatings. The company offers nitric acid, which is yellow in color.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/nitric-acid-market-industry-analysis
Nitric Acid Market 2020-2024: Segmentation
The Nitric acid market is segmented as below:
- North America
- South America
The nitric acid market is driven by the growth in the automotive industry. In addition, other factors such as economic growth in APAC are expected to trigger the nitric acid market toward witnessing a CAGR of almost 3% during the forecast period.
Get more insights about the global trends impacting the future of the nitric acid market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45471
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.