INORGANIC ACIDS MARKET ANALYSIS

Regional Analysis

Market Outlook

On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Increasing demand for fertilizers from the economies of China and India that majorly depend on agriculture is expected to boost growth of the market in Asia Pacific. Nitric acid is a major component of fertilizers and is neutralized with ammonia to give ammonium nitrate. The market share of North America is primarily driven by increasing consumption of home and personal care products such as acidic drain cleaners, soaps and detergents, and toothpaste. Increasing production of rockets for space missions is expected to high demand for nitric acid, thereby aiding in the market growth of North America. The market in Middle East is driven by increasing use of sulfuric acid as industrial cleaning agent and hydrofluoric acid in oil refining.