Australia nitric acid market
Australia Nitric Acid Market, By Product Type (Fuming, Non-Furning), By Grade (Commercial, Specialty), By End User (Explosives, Fertilizers, Others)-
- Apr 2023
- CMI3133
- 120 Pages
- Excel & Pdf
- Bulk Chemicals
Australia nitric acid market was valued at US$ 1,177.5 Million in 2022 and is expected to reach 2337.3 by 2030 following a CAGR of 9.18% over the forecast period (2023-2030)
Nitric acid is used as an alternative to chlorine in various countries in precious metal refining process, as chlorine is highly toxic in nature, and this is expected to drive the market growth. For instance, According to the World Gold Council, around 3,924 tons of gold was refined in 2014 around the globe. Australia accounts for 15% share in world economic gold sources, and is the second-largest producer of gold, accounting for 10% of overall global gold output.
Australia Nitric Acid Market: Drivers
Demand for Nitric Acid from Fertilizers Industry
Rising demand for nitric acid from 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’s demand for fertilizer nutrients including sulfur, nitrogen, potash, and phosphates increased to 200,552 Kilo tons in 2021 from 197,190 Kilo tons in 2017.
Increasing Mining Exploration Activities
Rising demand for nitric acid for the production of ammonium nitrate that is widely used as explosives in the mining industry is expected to drive the market growth. Increasing mining exploration activities in Australia, especially in western Australian and Queensland, is expected to boost the production and consumption of nitric acid in the country.
Australia Nitric Acid Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 1,177.5 Mn |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR: | 9.18% | 2030 Value Projection: | US$ 2,377.3 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Orica Limited, Wesfarmers Chemicals, Energy & Fertilisers, and Incitec Pivot Ltd |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Australia Nitric Acid Market: Restraints
Serious Health and Environmental Issues
Increasing focus of government towards the production of substitute of ammonium nitrate explosives in mining industry is expected to hamper the market growth. There has been environmental concern associated with the usage of ammonium nitrate, as it releases various toxic gases upon explosion that can cause serious health and environmental issues.
Australia Nitric Acid Market: Segmentation
Australia nitric acid market is segmented into by product type (fuming and non-fuming), by grade (commercial and specialty), by end user (explosives, fertilizers, and others), and by state (Western Australia, Queensland, New South Wales, Victoria, and Rest of Australia).
Among end user, the explosives segment accounted for 96.1% share of the Australia nitric acid market, in 2022, and is expected to remain dominant over the forecast period.
Figure 1. Australia Nitric Acid Market, By End User, 2022
Australia Nitric Acid Market: Regional Insights
On the basis of region, Australia nitric acid market is segmented into New South Wales, Victoria, Queensland, Western Australia, and Rest of Australia. Queensland and Western Australia are the largest market for nitric acid in Australia, ly accounting for 58% share, in 2022. Western Australia, New South Wales, and Queensland are expected to be the most attractive markets for nitric acid in Australia over the forecast period.
Figure 2. Australia Nitric Acid Market, By State, 2022
Australia Nitric Acid Market: Recent Developments
- In 2021, Wesfarmers Chemicals, Energy & Fertilisers (WesCEF), announced that it had signed a long term supply agreement with Yara Pilbara Fertilizers, for the supply of ammonia, which is a key ingredient in the production of nitric acid. The agreement is expected to support WesCEF’s long term supply of nitric acid to the Australia Market.
- In 2020, Incitec Pivot Limited (IPL), one of the country’s largest fertilizer and explosives manufacturers, announced that it had completed a US$ 750 million upgrade of its nitric acid plant in Queensland. This upgrade increased the plant’s production capacity by 50%, and thus, makes it one of the largest nitric acid plants in the world.
Australia Nitric Acid Market: Key Companies
Major players operating in the Australia nitric acid market include Orica Limited, Wesfarmers Chemicals, Energy & Fertilisers, and Incitec Pivot Ltd
*Definition: Nitric acid is fuming, colorless, and highly corrosive liquid that is widely used in various Industries. It is highly toxic in nature, and causes severe burn injury. It is primarily used in the production of fertilizers such as nitro-phosphate, ammonium nitrate, and ammonium phosphate.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Grade
- Market Snippet, By End User
- Market Snippet, By State
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trends
- PEST Analysis
- PORTER’s Analysis
- New Product Approvals/Launches
- Drivers
- Market Dynamics
- Australia Nitric Acid Market, By Product Type, 2017 – 2030, (US$ Million & Kilo Tons)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Fuming
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Non-Fuming
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Introduction
- Australia Nitric Acid Market, By Grade, 2017 – 2030, (US$ Million & Kilo Tons)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Specialty
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Introduction
- Australia Nitric Acid Market, By End User, 2017 – 2030, (US$ Million & Kilo Tons)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Explosives
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Fertilizers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Million & Kilo Tons)
- Introduction
- Australia Nitric Acid Market, By State, 2023- 2030, (US$ Million & Kilo Tons)
- Introduction
- Market Share Analysis, By State, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For State, 2017 - 2030
- Western Australia
- Market Share Analysis, By State, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By State, 2017 - 2030
- Market Size and Forecast, By Product Type, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By Grade, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By End User, 2017 – 2030, (US$ Million & Kilo Tons)
- Queensland
- Market Share Analysis, By State, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By State, 2017 – 2030
- Market Size and Forecast, By Product Type, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By Grade, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By End User, 2017 – 2030, (US$ Million & Kilo Tons)
- New South Wales
- Market Share Analysis, By State, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By State, 2017 – 2030
- Market Size and Forecast, By Product Type, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By Grade, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By End User, 2017 – 2030, (US$ Million & Kilo Tons)
- Victoria
- Market Share Analysis, By State, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By State, 2017 – 2030
- Market Size and Forecast, By Product Type, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By Grade, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By End User, 2017 – 2030, (US$ Million & Kilo Tons)
- Rest of Australia
- Market Share Analysis, By State, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By State, 2017 – 2030
- Market Size and Forecast, By Product Type, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By Grade, 2017 – 2030, (US$ Million & Kilo Tons)
- Market Size and Forecast, By End User, 2017 – 2030, (US$ Million & Kilo Tons)
- Introduction
- 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
- Orica Limited
- Section
- References
- Research Methodology
- About us and Sales Contact
* Browse 30 market data tables* and 25 figures* on "Australia Nitric Acid Market” - Australia forecast to 2030.
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 User :
- Explosives
- Fertilizers
- Others
- Australia Nitric acid Market, By State:
- Western Australia
- Queensland
- New South Wales
- Victoria
- Rest of Australia