International. The global nitric acid market is expected to reach the value of $14 billion by 2022, according to a new study by Grand View Research, Inc.
Nitric acid is used in the manufacture of various chemicals, including adipic acid, ammonium nitrate, toluene diisocyanate, and nitrobenzene.
The increasing demand from end-user industries including polyurethane foams, elastomers, coatings with floor and wood finishes, lacquers, plastic foams, polyurethane foam coated fabrics, and insulation materials is expected to drive the growth of the nitric acid market during the projected period.
Adipic acid was a key application of nitric acid's tally of 2,274 kilo tons of global demand in 2014. More than 80% of the adipic acid produced globally is used in the manufacture of nylon fiber and resin.
