Nitric Acid Market Size to Achieve USD 31.0 Billion Revenues by 2034 and Growing at 4.2% CAGR, Fueled by Fertilizer and Chemical Demand| States Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research, Inc., Sept. 10, 2024 (GLOBE NEWSWIRE) — The global nitric acid market (질산 시장) was projected to attain US$ 19.8 billion in 2023. It is anticipated to garner a 4.2% CAGR from 2024 to 2034, and by 2034, the market is likely to attain US$ 31 billion.
In the process of making adipic acid, nitric acid is utilized for organic oxidation. In order to produce terephthalic acid and other organic molecules, it is also used in organic oxidation. Nitric acid is used in explosive production for organic nitrations.
Nitroglycerin and trinitrotoluene are two examples of popular explosives that are primarily made by nitrating organic molecules with nitric acid. Chemical intermediates such as dinitrotoluenes and nitrobenzene are produced via nitrations using nitric acid.
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Key Findings of the Market Report
- Ammonium nitrate and calcium ammonium nitrate, which are used as fertilizers, are made with the help of nitric acid.
- Fertilizers based on nitrogen are being more widely used since there is a greater emphasis on raising agricultural productivity to support the world’s expanding population.
- Ammonia and nitric acid are the main feedstocks for almost all nitrogen-based fertilizers.
- The need for food and the growing global population are driving up the price of nitric acid.
- The Food and Agriculture Organization estimates that to feed the 9.1 billion people who will inhabit the planet by 2050, total food production must increase by 70% between 2005 and 2007.
Market Trends for Nitric Acid
- Ammonium nitrate is produced using concentrated nitric acid (CAN), a key fertilizer ingredient. It is also used in the explosives industry. The production of CAN is increasing by major suppliers in the nitric acid sector.
- Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), an Indian chemical firm, started building a fourth CAN facility in 2022, with a capacity of 50,000 MT annually. By the end of 2022, GNFC’s production was predicted to reach 165,000 MT thanks to this. Thus, the nitric acid market income is increasing by an increase in investment in CAN manufacturing.
Global Market for Nitric Acid: Regional Outlook
- Asia Pacific accounted for the majority share in 2023. The region’s market dynamics are positively impacted by the increased use of fertilizers. After Europe, South Korea is the second-largest exporter of nitric acid worldwide. Over 80% of all nitric acid exports worldwide come from South Korea and Europe.
- Due to its growing fertilizer usage and declining manufacturing activity in Europe, nitric acid prices are rising in the main regions. As a result of Europe’s supply issue, businesses are becoming increasingly reliant on the Indian market, which is growing the nitric acid market share in Asia Pacific.
- Large European corporations are looking to move manufacturing to India because of the country’s reduced energy costs, readily available workforce, and enhanced business environment.
Global Nitric Acid Market: Competitive Landscape
Leading companies in the global nitric acid industry are using sustainable solutions in order to fulfill their Environmental, Social, and Governance (ESG) goals. KBR, Inc. and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC) celebrated the successful commissioning of their second facility in Gujarat, India, utilizing KBR’s own MAGNAC CNA technology, in November 2023. This announcement marked a significant milestone in their relationship. These environmentally friendly methods, which recycle process water without treatment and have been shown to increase energy efficiency and lower emissions, are used by the facility. The following companies are well-known participants in the global nitric acid market:
- BASF SE
- The Chemours Company
- Eurochem Group
- Dyno Nobel
- Nutrien Ltd.
- Sumitomo Chemical Co., Ltd.
- Yara
- CF Industries
- Deepak Fertilisers and Petrochemicals Corporation Limited
- OCI
Key developments by the players in this market are:
- A non-binding memorandum of understanding (MoU) was signed in January 2024 between Dyno Nobel and Saudi Chemical Co. Holding (SCCH), a producer of explosives and detonators, about a plant to generate nitric acid and ammonium nitrate near Ras Al Khair.
- This was done through the company Saudi Chemical Co. Ltd. (SCCL). The factory will be able to produce 440,000 tons of nitric acid and 300,000 tons of ammonium nitrate annually.
- Deepak Fertilizers and Petrochemicals Corporation Ltd. (DFPCL) declared in August 2023 that it will increase the nitric acid capacity in Dahej, Gujarat, India. The business plans to establish two CNA facilities with a combined capacity of 150 KTPA and a Weak Nitric Acid (WNA) facility with a 300 KTPA capacity.
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Global Nitric Acid Market Segmentation
By Application
- Fertilizers
- Nitrobenzene
- Toluene Diisocyanate (TDI)
- Adipic Acid
- Metal Processing
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Insider Move: Bryan A Erman Invests $50K In Matador Resources Stock
A significant insider buy by Bryan A Erman, EVP at Matador Resources MTDR, was executed on September 9, and reported in the recent SEC filing.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Erman purchased 1,000 shares of Matador Resources. The total transaction amounted to $50,350.
As of Tuesday morning, Matador Resources shares are down by 1.16%, currently priced at $49.29.
About Matador Resources
Matador Resources Co is an independent energy company engaged in the exploration, development, production, and acquisition of oil and natural gas resources. The majority of the company’s assets are located in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Along with maintaining a portfolio of oil and natural gas properties, Matador works to identify and develop midstream opportunities that support and enhance its exploration and development business.
Breaking Down Matador Resources’s Financial Performance
Revenue Growth: Matador Resources displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 31.59%. This indicates a notable increase in the company’s top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Energy sector.
Key Profitability Indicators:
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Gross Margin: The company sets a benchmark with a high gross margin of 46.88%, reflecting superior cost management and profitability compared to its peers.
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Earnings per Share (EPS): Matador Resources’s EPS is notably higher than the industry average. The company achieved a positive bottom-line trend with a current EPS of 1.83.
Debt Management: With a below-average debt-to-equity ratio of 0.44, Matador Resources adopts a prudent financial strategy, indicating a balanced approach to debt management.
Financial Valuation Breakdown:
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Price to Earnings (P/E) Ratio: The P/E ratio of 6.42 is lower than the industry average, implying a discounted valuation for Matador Resources’s stock.
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Price to Sales (P/S) Ratio: With a P/S ratio of 1.86 below industry standards, the stock shows potential undervaluation, making it an appealing investment option for those focusing on sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): With a below-average EV/EBITDA ratio of 3.71, Matador Resources presents an opportunity for value investors. This lower valuation may attract investors seeking undervalued opportunities.
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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The Importance of Insider Transactions
In the complex landscape of investment decisions, investors should approach insider transactions as part of a comprehensive analysis, considering various elements.
Considering the legal perspective, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider’s new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
Navigating the World of Insider Transaction Codes
Delving into transactions, investors typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Matador Resources’s Insider Trades.
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Unum Could Be a Great Choice
All investors love getting big returns from their portfolio, whether it’s through stocks, bonds, ETFs, or other types of securities. However, when you’re an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company’s earnings paid out to shareholders; it’s often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Unum in Focus
Based in Chattanooga, Unum UNM is in the Finance sector, and so far this year, shares have seen a price change of 20.21%. The insurance company is paying out a dividend of $0.42 per share at the moment, with a dividend yield of 3.09% compared to the Insurance – Accident and Health industry’s yield of 1.84% and the S&P 500’s yield of 1.58%.
Taking a look at the company’s dividend growth, its current annualized dividend of $1.68 is up 20.9% from last year. Unum has increased its dividend 4 times on a year-over-year basis over the last 5 years for an average annual increase of 6.37%. Any future dividend growth will depend on both earnings growth and the company’s payout ratio; a payout ratio is the proportion of a firm’s annual earnings per share that it pays out as a dividend. Right now, Unum’s payout ratio is 18%, which means it paid out 18% of its trailing 12-month EPS as dividend.
UNM is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2024 is $8.46 per share, representing a year-over-year earnings growth rate of 10.44%.
Bottom Line
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it’s fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, UNM presents a compelling investment opportunity; it’s not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #2 (Buy).
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