Nitric Acid Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2027
Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. nitric acid market is expected to reach USD 30.29 Billion by 2027, according to a new report by Reports and Data. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to easily absorb the essential macro and micronutrient. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019. Of the three major fertilizer types, the U.S imports over 50.0% of U.S. nitrogen-based fertilizer supplies, m...