Nitric Acid Prices

Nitric Acid Price Trend, Index and Forecast

Track the latest insights on nitric acid price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

Nitric Acid Prices Outlook Q1 2025

• USA: US$ 286/MT
• China: US$ 285/MT
• Germany: US$ 430/MT
• Indonesia: US$ 318/MT
• India: US$ 277/MT

Nitric Acid Price Chart

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During the first quarter of 2025, the nitric acid prices in the USA reached 286 USD/MT in March. As per the nitric acid price chart, the market for nitric acid exhibited indications of expansion, driven by logistical problems and disruptions brought on by immoderate weather. Extreme temperatures early in the quarter affected the ammonia supply by causing maintenance shutdowns and force majeure situations at important facilities.

During the first quarter of 2025, nitric acid prices in China reached 285 USD/MT in March. The market had lower production and poor demand. Before the Spring Festival, a number of plants shut down or scaled back operations, which had an impact on total output. Production slowly restarted after the break, but recovery was still sluggish. Instead of placing fresh orders, buyers mostly concentrated on clearing off backlogs.

During the first quarter of 2025, the nitric acid prices in Germany reached 430 USD/MT in March. Due to tighter supply conditions and seasonal demand, the price of nitric acid in Germany elevated significantly. High natural gas prices early in the quarter compelled large producers to reduce their ammonia output, which resulted in a shortage and increased costs. While the weakening euro raised import prices, the uncertainty surrounding Russian fertilizer penalties encouraged additional stockpiling.

During the first quarter of 2025, the nitric acid prices in Indonesia reached 318 USD/MT in March. The market was characterized by a sluggish demand environment. As companies scaled back operations in anticipation of the Spring Festival, fertilizer and ammonium nitrate activities slowed in the first half of the quarter. Additionally, businesses had to modify their production schedules due to supply restrictions. Operations resumed after the holidays, but the rate of demand recovery was slow.

During the first quarter of 2025, the nitric acid prices in India reached 277 USD/MT in March. The market for nitric acid in India fell mostly as a result of lower output and poor demand. Before the Spring Festival, plants either stopped producing or cut back on output, which caused several important industries, such as fertilizers and ammonium nitrate, to slow down. Operations resumed after the holiday, although demand took a while to recover.

Nitric Acid Prices Outlook Q2 2024

• USA: US$ 273/MT

In Q2 2024, nitric acid prices in the USA declined, driven by reduced fertilizer demand due to harsh weather and lower ammonia costs. It was recorded at 273 USD/MT in June. Weak demand from international industries and ample supply also pressured prices downward, reflecting challenging market conditions for the domestic nitric acid industry.

Nitric Acid Prices Outlook Q1 2024

• USA: US$ 299/MT
• South Korea: US$ 308/MT

The market for nitric acid in the USA saw a price decline due to lower costs of raw materials like natural gas and ammonia and reduced demand from the fertilizer industry. The prices in the United States reached 299 USD/MT in March. Moreover, milder winter weather led to an oversupply and weaker demand for derivatives which further pressured prices downward.

South Korea's nitric acid market saw a notable price drop in Q1 2024, primarily due to weak demand from sectors like automotive, textiles, and fertilizers. The quarter ended with nitric acid priced at 308 USD/MT in March. The decline in automotive sales, coupled with reduced activity during Lunar New Year celebrations, significantly impacted overall market performance.

Nitric Acid Prices Outlook Q4 2023

• USA: US$ 330/MT
• Europe: US$ 170/MT

The nitric acid prices in the USA for Q4 2023 reached 330 USD/MT in December. The market was shaped by price increases due to supply chain constraints and strong demand from domestic and international fertilizer sectors. Disruptions at the Panama Canal and higher freight costs stemming from global geopolitical tensions further pressured the market.

The price trend for nitric acid in Europe for Q4 2023, reached 170 USD/MT in December. The market faced a notable shortage because of halted Ammonia production by a major supplier. The scarcity was especially evident in Germany was compounded by increased freight costs from global trade disruptions.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the nitric acid prices.

Global Nitric Acid Price Trend

The report offers a holistic view of the global nitric acid pricing trends in the form of nitric acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of nitric acid, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed nitric acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Nitric Acid Price Trend

Q1 2025:

As per the nitric acid price index, strong seasonal demand and growing production costs were the main causes of the notable price hike in the market. There was a shortage of ammonia early in the quarter as a result of major manufacturers cutting back on production due to skyrocketing natural gas prices. While fertilizer manufacturers raised production ahead of the spring season to boost demand, the falling euro further increased import costs.

Q2 2024:

During Q2 2024, the nitric acid prices in Europe experienced instability. Early in the quarter, product rates dropped due to reduced fertilizer demand amid adverse weather, including immoderate rainfall in several countries, which interrupted activities in agricultural sector and lowered the product need. Despite this, in the second month of the quarter, prices saw an upward climb owing to nitric acid scarcity caused by flooding and damaged infrastructure. Moreover, strong consumption of adipic acid also led to higher prices, with electronics and textile sectors maintaining steady procurement and stocking practices to meet manufacturing needs.

Q1 2024:

The product market in Europe during the first quarter of 2024 saw price fluctuations impacted by several factors. Early in the quarter, reducing costs of raw materials like natural gas and ammonia led to lower manufacturing expenses and declining movement of nitric acid rates. Moreover, product consumption in the fertilizer industry remained weak due to extreme climatic conditions across key countries in the region. Despite this, in the second month of the quarter, prices were pushed up by increased shipping expenses and geopolitical tensions impacting exports. Besides this, the hike in consumption of glyoxylic acid in sectors like cosmetics provided some support, though overall market conditions remained challenging.

Q4 2023:

The market witnessed price surge because of shortage of nitric acid in several countries like Italy, Germany, and the UK. The shortage was led by a halt in ammonia manufacture by a key supplier, leading to lowered availability of ammonia and its derivatives. This scarcity was especially severe in Germany, further driving up product prices. In addition, trade disruptions played a vital role, as geopolitical tensions caused increased freight rates and transportation costs. In response, traders adjusted prices upward to protect their profit margins amidst these ongoing supply chain and trade challenges.

This analysis can be extended to include detailed nitric acid price information for a comprehensive list of countries.

North America Nitric Acid Price Trend

Q1 2025:

The market grew in the first quarter due to a number of factors. Early setbacks, such as severe weather, caused force majeure events and operations to shut down for maintenance and resulted in supply issues with ammonia. Material shortages were further exacerbated by logistical challenges with both land and sea transportation. Ammonia prices decreased as the quarter went on, and manufacturing progressively started up again.

Q2 2024:

In Q2 of the financial year 2024, the nitric acid prices in North America saw a significant decline due to various factors. A key reason was the reduced consumption in the local fertilizer industry, largely affected by extreme climatic challenges such as geomagnetic storms and heat waves. This hindered planting activities and, in turn, the use of fertilizers. Moreover, weak demand from overseas industries, especially from Europe, further impacted the market. Moreover, a slight decrease in ammonia rates also contributed to reduced manufacturing costs for nitric acid, pushing prices down. Abundant supply within the market added to this downward trend, reflecting a challenging period for the industry.

Q1 2024:

The North American market for nitric acid in Q1 2024 faced a downward pricing trend due to various contributing factors. The decline was largely driven by the reduced cost of key raw materials like natural gas and ammonia, which decreased manufacturing costs and exerted a declining movement of nitric acid rates. Additionally, weak product consumption in the fertilizer industry and an oversupply caused by weather conditions led to further price drops. Besides this, lowered demand for adipic acid and aniline also played a role.

Q4 2023:

The market faced fluctuating prices and logistical challenges. Price hikes were driven by shortages of key feedstocks such as ammonia and natural gas, which pushed up production costs due to ongoing supply chain disruptions. In line with this, the demand from domestic and international fertilizer markets including Brazil contributed to upward pricing trend. However, a temporary dip occurred in November, linked to reduced demand. Compounding these dynamics were trade bottlenecks at the Panama Canal that were led by geopolitical tensions in the Red Sea.

Specific nitric acid historical data within the United States and Canada can also be provided.

Middle East and Africa Nitric Acid Price Trend

Q1 2025:

The report explores the nitric acid trends and nitric acid price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on nitric acid prices for countries can also be provided.

Asia Pacific Nitric Acid Price Trend

Q1 2025:

The market had difficulties due to a slowdown in demand and production cuts in several important locations. Due to the factory shutdown in anticipation of the Spring Festival, many downstream sectors saw low output early in the quarter, especially fertilizer and ammonium nitrate. Supply became much more constrained as a result of some producers pausing operations to make changes. Operations started up again after the holiday, but demand was still low, and purchasers were more concerned with catching up on backlogs than placing new orders.

Q2 2024:

The prices of nitric acid in the Asia Pacific region experienced varied trends in Q2 2024. There was a decline in prices during March and June, but they rose in the second month of Q2 2024. The initial fall was due to excess product supply, as leading plants resumed activities and consumption for glyoxylic acid dropped. On the other hand, May saw a price hike owing to the increased piling of stocks ahead of plantation seasons for rice and cotton. Despite strong activities in the local market, international consumption stayed modest, especially from Europe, which faced weather-related agricultural challenges. Furthermore, steady demand for adipic acid supported the market, driven by downstream sectors like textiles and electronics.

Q1 2024:

During Q1 2024, the nitric acid market in the APAC region exhibited varied pricing trends. Prices in the region dropped due to subdued demand from key industries like cosmetics, automobiles, textiles, and fertilizers. The automobile sector's weak performance, particularly a significant drop in domestic sales by major automakers, contributed to the decline. Despite some product consumption in the fertilizer industry for the planting season of millet, overall market activity remained sluggish, partly due to Lunar New Year celebrations. These factors collectively led to a notable decrease in nitric acid prices.

Q4 2023:

The market displayed mixed dynamics, especially in China. Initially, prices dropped after tightened export regulations and revoked CIQ licenses, leading to surplus stockpiles of the product. Demand from fertilizers, cosmetics, and textiles sectors stayed weak. Prices rebounded in December month because of increased demand from Western markets owing to festive season. Besides this, global shipping uncertainties and geopolitical tensions increased ocean freight costs. In addition, to maintain profit margins amid rising transportation costs, traders increased the prices of nitric acid.

This nitric acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Nitric Acid Price Trend

Q1 2025:

Latin America's nitric acid market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in nitric acid prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the nitric acid price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing nitric acid pricing trends in this region.

This comprehensive review can be extended to include specific countries within the region.

Nitric Acid Price Trend, Market Analysis, and News

IMARC's latest publication, “Nitric Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the nitric acid market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of nitric acid at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed nitric acid prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting nitric acid pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Nitric Acid Market Analysis

The global nitric acid industry size reached USD 30.98 Billion in 2024​. By 2033​, IMARC Group expects the market to reach USD 42.59 Billion, at a projected CAGR of 3.42% during 2025-2033​.

• Nitric acid is employed in the production of ammonium nitrate and calcium ammonium nitrate, which finds applications as fertilizers in the agriculture sector. Ammonium nitrate is also used in the manufacturing of urea ammonium nitrate (UAN), which is further utilized in fertilizer formulations. In addition, there is a rise in the adoption of nitric acid-based fertilizers to enhance the quality of crops and meet the growing demand for food products among individuals. Furthermore, there is an increase in the production of crops for catering to the food-related needs and preferences of individuals. According to the Food and Agriculture Organization (FAO), the production of primary crop commodities reached 9.5 billion tons in 2021 at a global level.
   
• The growing adoption of nitric acid to create different types of explosives like nitroglycerin and trinitroglycerin (TNT) is positively influencing the market. These explosives are military-grade and used for national defense. The rising number of terrorist activities across the globe is catalyzing the demand for nitric acid-based explosives.
   
• Nitric acid can be utilized in a colorimetric test to detect the difference between heroin and morphine. It is also important in spot testing that can identify lysergic acid diethylamide (LSD).
   
• The nitric acid demand is further propelled by its utilization to purify and clean noble metals like platinum, gold, and silver. Nitric acid forms aqua regia when combined with hydrochloric acid, which can even dissolve gold and platinum. It is widely used by jewelers to purify noble metals.
   
• Nitric acid is a critical chemical that is used for laboratory operations. It is a potential of hydrogen (pH) buffer, cleaning agent, and a preservative for water samples requiring metal analysis.
   
• The nitric acid market share is further bolstered by its employment as a superior nitrating agent with the combination of sulfuric acid.
   
• Nitric acid, in its pure form, with its caustic nature, can be beneficial in removing warts and boil.

Nitric Acid News

The report covers the latest developments, updates, and trends impacting the global nitric acid industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in nitric acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the nitric acid price trend.

Latest developments in the nitric acid industry:

• In January 2023, Grupa Azoty doubled its nitric acid production capacity with the launch of a new facility in Tarnów. This facility will increase the company’s production capacity to 40,000 tons annually and will expand the manufacturing line for above 98% concentrated nitric acid.
• In August 2023, Deepak Fertilisers and Petrochemicals Corporation Limited announced the nitric acid brownfield expansion at Dahej in Gujarat.

Product Description

Nitric acid is a colorless fuming liquid when pure but turns yellowish due to the collection of nitrogen oxides. It consists of three oxygen atoms, one nitrogen atom, and one hydrogen atom. It is produced mainly by oxidation of ammonia through the Ostwald process. It is a common laboratory reagent and an important industrial chemical for the manufacture of fertilizers and explosives.

Nitric acid is a strong oxidizing agent and ionizes readily in solution, forming a good conductor of electricity. It reacts with metals, oxides, and hydroxides, to form nitrate salts. It has approximately 3.01 potential of hydrogen (pH) and 83o C boiling point. It has a molar mass of 63.01 g/mol and a density is 1.51g/cm3. In addition, nitric acid is used in liquid-fueled rockets as an oxidizer.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of nitric acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting nitric acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The nitric acid price charts ensure our clients remain at the forefront of the industry.