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Australia Nitric Acid Market - Insights

Nitric acid is fuming, colorless, and highly corrosive liquid that is widely used across various Industries. It is highly toxic in nature and cause severe burn injury. They are primarily used in the production of fertilizers such as nitro-phosphate, ammonium nitrate, and ammonium phosphate.

The Nitric Acid market in Australia is estimated to account for US$ 843.4 Mn in terms of value and 2152.8 Thousand Tons in terms of volume by the end of 2018

Drivers:

Growing demand of nitric acid for the production of ammonium nitrate, which is widely used as explosives in the mining industry is primarily fueling the market growth of nitric acid.

Growing demand for fertilizers in the agriculture industry coupled with expanding chemical industry is further expected to boost the market growth of the nitric acid. Moreover, increasing mining exploration activities is also expected to augment the market growth of nitric acid

Western Australian region dominated the global Nitric Acid market in 2018, accounting for 33.1% share in terms of volume, followed by New South Wales, Queensland and Victoria

Figure 1. Australia Nitric Acid Volume Market Share (%), By Region, 2018

Australia Nitric Acid  | Coherent Market Insights

Market Restraints

Increasing focus of government towards the production of substitute of ammonium nitrate explosives in mining industry is expected to hamper the market growth of nitric acid.

Environmental concern associated with the use of ammonium nitrate as it releases various toxic gases upon explosion which can cause serious health and environmental issues is further projected to curb the market growth of nitric acid. 

Market Opportunities

Increasing usage of nitric acid in the metal refining process of separating precious metal from metalliferous materials by dissolving metalliferous materials using hydrolysis process in nitric acid solution is expected to offer as an immense growth opportunity to the market growth.

Rising replacing of chlorine with nitric acid across various countries in precious metal refining process as chlorine is highly toxic in nature is another major factor to boost the market growth of nitric acid. For instance, According to the World Gold Council, around 3,924 ton of gold was refined in 2014 around the globe. Australia accounts for over 15% share in world economic gold sources and is the second-largest producer of gold, accounting for nearly 10% of overall global gold output.

Figure 2. Australia Nitric Acid Market - Opportunity Analysis

Australia Nitric Acid  | Coherent Market Insights

Market Trends/ Key Takeaways

Increasing focus of manufacturer on expanding the existing production facilities of the ammonium nitrates in order to cater to rising demand for ammonium nitrate from mining industry is one of the major trend that has been observed in the market. For instance, CBSP Limited is an Australia-based manufacture of ammonium nitrate.  In 2014, the company completed the commissioning of ammonium nitrate facility (260 kilotons). The associated nitric acid production capacity was 210 kilotons.

Figure 3. Nitric Acid Market - Value Chain Analysis

Australia Nitric Acid  | Coherent Market Insights

Explosives application was valued at US$ 810.4 in 2018 and is forecast to reach a value of US$ 1609.2 by 2027 at a CAGR of 8.0 % between 2019 and 2027. Nitric Acid manufacturers also have integrated production facility for ammonium nitrate (AN) and explosive products in Australia.

Figure 4. Australia Nitric Acid Volume Market Share (%), By End-use, 2018

Australia Nitric Acid  | Coherent Market Insights

Competitive Section:

Company Profiles

  • Orica Limited
  • Wesfarmers Chemicals, Energy & Fertilisers
  • Incitec Pivot Ltd

Recent Developments

  • Incitec Pivot Ltd
  • The company engages in various fertilizer research and development program in conjunction with customers and farmers to enhance its product offering
    • In 2015, the company introduced TITAN 9000 high performance explosives emulsion range including Titan 9000xero technology which was aimed at reducing blast fumes
    • In the same year, the company also introuced Entec brand products which were aimed at minimizing  nitrogen losses to the  atmosphere and leaching
  • Wesfarmers Chemicals, Energy & Fertilisers
  • The company is focusing on both organic and inorganic growth strategies in order to capitalize on high growth opportunities in Western Australia
    • In 2014, company expanded its ammonium nitrate facility (260 kilotons) in Kwinana, Western Australia. The approximate installed nitric acid capacity is 210 kilotons for production of ammonium nitrate.
    • In 2015, company acquired 13.7% interest in Quadrant Energy, a supplier of natural gas in Western Australia

Nitric Acid is one of the important raw material for the production of ammonium nitrate (AN) as well as calcium ammonium nitrate which is further used in the manufacturing of fertilizers. Nitric acid is also used in manufacturing nitrobenzene, which is further used in production of explosives. Other major applications of nitric acid include adipic acid, nitrochlorobenzenes and toluene diisocyanate (TDI) which is further used in the chemical industry for uranium processing, metal treatment and precursors for many chemical compounds.

Other compounds manufactured from nitric acid include potassium nitrates and nitro phosphates that are further used in manufacturing phosphate fertilizers. Nitric Acid is available in two major forms Fuming (90% of above concentration) and Non-Fuming (Below 90%). In terms of Grades, Nitric acid is mostly available in industrial grade for chemical industries. Specialty grades are used are generally used for laboratory and pharmaceutical purpose.

Market Dynamics

Australian Nitric Acid production is dominated by three main manufacturers, namely – Orica Limited, Intec Pivot Limited and Wesfarmers Chemicals, Energy & Fertilizers. The players have integrated manufacturing units for manufacturing Ammonium nitrate from nitric acid which is further utilized for manufacturing explosives. Westfarmers Chemicals, Energy and Fertilizers expanded its nitric acid production capacity by 260 kilo tons for manufacturing Ammonium Nitrate to be used in fertilizers and explosive industry in 2014.

The companies in Australia are also involved in development of new explosive products from Ammonium Nitrate. For instance, in 2015, Incitec Pivot Ltd introduced a new explosion emulsion named as – TITAN 9000 for reducing the blast fumes and minimize the air pollution caused due to mining activities.

Ammonium nitrate (AN) is also used in manufacturing explosives and blasting agents but the governments around the world have imposed statuary regulations on the use of ammonium nitrate as an explosive. 

Rising demand of Nitric Acid for fertilizers industry across the globe is expected to drive ammonium thiosulphate market growth over the forecast period. For instance, according to the FAO - Food and Agriculture Organization (U.S.), the Australia demand for fertilizer nutrients including sulfur, nitrogen, potash, and phosphates raised to 200,552 Kilo tons in 2018 from 197,190 Kilo tons in 2017.

Key features of the study:

  • This report provides in-depth analysis of nitric acid market ,market size (US$ Million and Kilo Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the Australia nitric acid market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Orica Limited, Intec Pivot Limited and Wesfarmers Chemicals, Energy & Fertilizers.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Australia nitric acid market report caters to various stakeholders in this industry including investors, suppliers, nitric acid manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Australia nitric acid market

Detailed Segmentation:

  • Australia Nitric acid Market, By Product Type:
    • Fuming
    • Non-Fuming
  • Australia Nitric acid Market, By Grade:
    • Commercial
    • Specialty
  • Australia Nitric acid Market, By End-use:
    • Explosives
    • Fertilizers
    • Others
  • Australia Nitric acid Market, By Region:
    • Western Australia
    • Queensland
    • New South Wales
    • Victoria
    • Rest of Australia
  • Company Profiles
    • Orica Limited*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Wesfarmers Chemicals, Energy & Fertilisers
    • Incitec Pivot Ltd

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Grade
      • Market Snippet, By End-use
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
  4. Australia Nitric Acid Market, By Product Type, 2017 - 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Fuming
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
    • Non-Fuming
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
  5. Australia Nitric Acid Market, By Grades, 2017 - 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Commercial
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
    • Specialty
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
  6. Australia Nitric Acid Market, By End-use, 2017 - 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Explosives
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
    • Fertilizers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (US$ Million & Kilo Tons)
  7. Australia Nitric Acid Market, By Region, 2017- 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • Western Australia
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • Queensland
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • New South Wales
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • Victoria
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • Rest of Australia
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
    • Company Profiles
      • Orica Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Wesfarmers Chemicals, Energy & Fertilisers
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Incitec Pivot Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 30 market data tables* and 25 figures* on "Nitric Acid Market” - Australia forecast to 2027.

Frequently Asked Questions

The Australia nitric acid market is expected to exhibit a CAGR of 8.0%, over the forecast period (2019-2027).
Major players operating in the Australia nitric acid market include Orica Limited, Wesfarmers Chemicals, Energy & Fertilizers, and Incitec Pivot Ltd
The Australia nitric acid market is estimated to surpass US$ 1609.2 Mn By 2027.
The rising demand of nitric acid for the production of ammonium nitrate, increasing demand for fertilizers in the agriculture industry, coupled with expanding chemical industry in Australia are the factors that are expected to fuel growth of the market over the forecast period.
The rising focus of government towards the production of substitute of ammonium nitrate explosives in mining industry and environmental concerns associated with the usage of ammonium nitrate are the major factors that are expected to hamper growth of the market over the forecast period.
Increasing focus of market players on expanding the existing production facilities of the ammonium nitrates, in order to cater to the rising demand for ammonium nitrate from mining industry is one of the major trends that has been observed in the market.
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