By the end of 2024, the Australia nitric acid market is expected to have grown by 1.8X

By the end of 2024, the Australia nitric acid market is expected to have grown by 1.8X. The widespread use of ammonium nitrate in several industries, such as metal refining and ammonium nitrate, is expected to fuel this expansion. The mining industry, along with the agriculture sector, is expected to develop the nitric acid market in Australia, opening new opportunities for expansion. By the end of the projection period, explosives are predicted to have a significant market share.



The COVID-19 epidemic has halted production in a variety of industries, including mining, and the market is likely to grow slowly during the crisis. The surge in fresh and handmade consumption, on the other hand, is expected to benefit agriculture by increasing the use of nitric acid.


The market is anticipated to return to normal operations over time. Regions such as Queensland and Western Australia are projected to present profitable opportunities for industry participants in the near future. To stay ahead of the competition, market companies are increasing their production capacity by adding new manufacturing facilities. Orica Limited, Incitec Pivot Ltd, and Wesfarmers Chemicals, Energy & Fertilisers are some of the well-known competitors in the global industry.

In 2016, the Australia nitric acid market was estimated to be worth US$ 725.3 million, and by the end of 2024, it is predicted to be worth US$ 1.3 billion. In 2015, the market was estimated to be 1,723.3 kilotons, and it is expected to grow at a CAGR of 7.8% in terms of volume over the projected period (2016–2024). The main raw material for the synthesis of ammonium nitrate is nitric acid. It is also employed in the production of fertilisers, as well as precious metal refining and litho printing.

In Australia, nitric acid is used extensively in the manufacturing of ammonium nitrate, which is used as an explosive in the mining industry and as a fertiliser in agriculture. The generation of nitric acid and ammonium nitrate have a tight relationship.


Increased production of ammonium nitrate is predicted to drive demand for nitric acid throughout the forecast period, owing to rising demand for ammonium nitrate-based explosives.In Australia, ammonium nitrate accounts for 90 percent to 96 percent of total nitric acid production. Mining exploration activities drive the need for ammonium nitrate explosives.

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