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Base Year
Historical Period
Forecast Period
Nitric Acid prices in Germany, the highest-cost reporting region, rose 5.9% in Q2 2026 to USD 450.00/MT from USD 425.00/MT in Q1, as elevated natural gas and electricity costs continued pressuring ammonia-based feedstock economics. Globally, the average rose from USD 328.80/MT in Q1 to USD 349.80/MT in Q2, a 6.4% gain. For H2 2026, a global average of USD 335.00-380.00/MT is expected, with balanced-to-firm demand from fertilizer, explosives, and metal processing sectors likely to keep this market on its established upward path.
Nitric Acid is produced through the catalytic oxidation of ammonia, a process that consumes significant energy and depends heavily on ammonia feedstock availability and cost. It serves as the essential intermediate for ammonium nitrate fertilizer and industrial explosives production, alongside substantial use in metal processing, pickling and etching operations, and broader chemical synthesis. Ammonia feedstock costs, energy and natural gas prices at production facilities, and demand from fertilizer, explosives, and metal processing sectors are what drive prices in this market.
The outlook for Nitric Acid through H2 2026 stays firm, tracking elevated ammonia feedstock and energy costs across the broader nitrogen chemical complex. Steady demand from ammonium nitrate fertilizer production, combined with consistent industrial offtake from explosives and metal processing applications, should keep this market on a gradual upward path.
The main upside risk is a further tightening of ammonia feedstock availability or a spike in natural gas and electricity costs, which would push production expenses higher across every region tracked in this report. The main downside risk is a slowdown in agricultural fertilizer demand combined with easing energy costs, which would relieve some of the current price pressure.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 335.00 - 380.00 | Feedstock and energy costs support continued firming |
| Germany | 460.00 - 500.00 | Elevated energy costs sustain the highest regional price |
| United States | 420.00 - 460.00 | Steady fertilizer and industrial demand keeps this firm |
| India | 330.00 - 365.00 | Growing fertilizer sector demand supports continued gains |
| China | 245.00 - 270.00 | Lowest cost given substantial domestic ammonia capacity |
German Nitric Acid prices averaged USD 450.00/MT in Q2 2026, the highest of any region tracked here, up 5.9% from USD 425.00/MT in Q1, as elevated natural gas and electricity costs continued pressuring ammonia-based feedstock economics.
Why did the price of Nitric Acid change in Q2 2026 in Germany?
Higher natural gas and electricity costs increased production expenses at ammonia-oxidation facilities, and while stable feedstock availability helped limit sharper price gains elsewhere, German producers faced some of the steepest energy cost pressure in this report.
US prices averaged USD 410.00/MT in Q2 2026, up 6.5% from USD 385.00/MT in Q1, as balanced-to-firm demand from fertilizer and explosives manufacturers kept this market on a firm upward path.
Why did the price of Nitric Acid change in Q2 2026 in the United States?
Demand from ammonium nitrate and nitrogen fertilizer production supported baseline consumption, especially as agricultural procurement remained active, while industrial demand from chemical synthesis and mining-related applications contributed to steady offtake.
Indian prices averaged USD 320.00/MT in Q2 2026, up 6.7% from USD 300.00/MT in Q1, tracking growing domestic fertilizer sector demand.
Why did the price of Nitric Acid change in Q2 2026 in India?
Strong demand from fertilizer producers, particularly for ammonium nitrate, played a central role in supporting price gains, with consumption from explosives, mining, and chemical manufacturing sectors adding further support.
Chinese prices averaged USD 240.00/MT in Q2 2026, the lowest of the four regions, up 6.7% from USD 225.00/MT in Q1, as improved downstream demand from fertilizer and industrial applications supported gains even with substantial domestic ammonia capacity.
Why did the price of Nitric Acid change in Q2 2026 in China?
Improved downstream demand from fertilizer producers and stable feedstock ammonia availability supported the upward movement, with production facilities operating at consistent utilization despite plant maintenance in select facilities.
German prices rose 6.2% in Q1 2026 to USD 425.00/MT from USD 400.00/MT in Q4 2025, as energy cost pressures continued building through the quarter.
Why did the price of Nitric Acid change in Q1 2026 in Germany?
Feedstock ammonia remained a major cost driver, as nitric acid production depends heavily on ammonia and energy inputs, and higher natural gas and electricity costs in Germany increased production expenses more than in most other regions tracked in this report.
US prices rose 6.9% in Q1 2026 to USD 385.00/MT from USD 360.00/MT in Q4 2025, supported by steady fertilizer and industrial demand.
Why did the price of Nitric Acid change in Q1 2026 in the United States?
Demand from ammonium nitrate and nitrogen fertilizer production supported baseline consumption ahead of the spring planting season, while industrial demand from chemical synthesis and mining-related applications contributed to steady offtake.
Indian prices rose 7.1% in Q1 2026 to USD 300.00/MT from USD 280.00/MT in Q4 2025, tracking growing domestic fertilizer sector demand.
Why did the price of Nitric Acid change in Q1 2026 in India?
Strong demand from fertilizer producers, particularly for ammonium nitrate, played a central role in price determination, with consumption from explosives, mining, and chemical manufacturing sectors also influencing the regional supply-demand balance.
Chinese prices rose 7.1% in Q1 2026 to USD 225.00/MT from USD 210.00/MT in Q4 2025, as downstream demand from fertilizer producers improved.
Why did the price of Nitric Acid change in Q1 2026 in China?
Improved downstream demand from fertilizer production supported the upward movement, with plant operating rates and capacity utilization remaining a key factor affecting market supply through the quarter.
Global Nitric Acid prices dipped modestly in Q2 2025 before climbing steadily and consistently through every subsequent quarter, tracking elevated ammonia feedstock and energy costs alongside firm fertilizer, explosives, and metal processing demand across every region covered in this report.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 349.80 | +6.4% | ↑ Rising |
| Q1 2026 | 328.80 | +6.8% | ↑ Rising |
| Q4 2025 | 307.80 | +4.6% | ↑ Rising |
| Q3 2025 | 294.30 | +4.7% | ↑ Rising |
| Q2 2025 | 281.20 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
Nitric Acid firmed steadily and consistently across every market covered in this report through 2025, tracking rising ammonia feedstock and energy costs alongside firm fertilizer and industrial demand, with no single region deviating meaningfully from the broader pattern.
German prices firmed from about USD 380.00/MT in Q1 2025 to USD 400.00/MT by Q4, a gain of roughly 5.3%, tracking elevated European energy costs through the year.
US prices firmed from about USD 340.00/MT in Q1 2025 to USD 360.00/MT by Q4, up roughly 5.9%, the strongest annual gain of the four regions, supported by steady fertilizer and industrial demand.
Indian prices firmed from about USD 260.00/MT in Q1 2025 to USD 280.00/MT by Q4, a gain of roughly 7.7%, tracking growing domestic fertilizer sector demand.
Chinese prices firmed from about USD 195.00/MT in Q1 2025 to USD 210.00/MT by Q4, up roughly 7.7%, even as this remained the most affordable market tracked in this report given substantial domestic ammonia production capacity.
Expert Market Research: Your Source for Real-Time Nitric Acid Price Intelligence
Expert Market Research tracks Nitric Acid prices continuously across every major producing and consuming region, combining ammonia feedstock cost data, energy and natural gas price trends, and fertilizer, explosives, and metal processing demand signals into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the feedstock-driven trends covered in this report, and build a defensible view of where this essential industrial acid is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
It serves as the essential intermediate for ammonium nitrate fertilizer and industrial explosives production, alongside substantial use in metal processing, pickling and etching operations, and broader chemical synthesis.
The Q2 2026 global average was USD 349.80/MT, ranging from USD 240.00/MT in China to USD 450.00/MT in Germany.
The global average rose from USD 307.80/MT in Q4 2025 to USD 328.80/MT in Q1 2026 and then to USD 349.80/MT in Q2, tracking rising ammonia feedstock and energy costs.
Feedstock ammonia remains a major cost driver, as nitric acid production depends heavily on ammonia and energy inputs, and higher natural gas and electricity costs in several markets have kept production expenses elevated.
The global average is expected in the USD 335.00-380.00/MT range, supported by feedstock and energy costs alongside firm sector demand.
China holds the lowest cost given substantial domestic ammonia production capacity, while Germany carries the highest cost among the regions tracked here given elevated European energy costs.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Ammonia feedstock costs, energy and natural gas prices at production facilities, and demand from fertilizer, explosives, and metal processing sectors.
China maintains the largest production base tied to its substantial ammonia industry, with the United States, Germany, and India also producing significant volumes for domestic fertilizer and industrial use.
Buyers can monitor ammonia feedstock and energy cost trends given their outsized influence on this market, time forward purchases around the quarterly breakdowns in this report, and benchmark supplier quotes against the tracked price ranges.
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