In a recently published report by Fortune Business Insights™, titled, "Nitric Acid Market Report 2022", the analysts have provided an in-depth overview of the Nitric Acid Market. The report is an all-inclusive research study of the Nitric Acid market taking into account the growth factors, recent trends, developments, opportunities, and competitive landscape. Market analysts and researchers have done extensive analysis of the market with the help of research methodologies such as PESTLE and Porter's Five Forces analysis.
The global nitric acid market share is expected to reach USD 27,536.9 million by 2027, exhibiting a CAGR of 3.5% during the forecast period. The booming automotive industry in developing nations has led to high consumption of this acid, which, in turn, will bode well for the market, states Fortune Business Insights, in a report. The nitric acid market share size stood at USD 22,268.1 million in 2019.