Nitric Acid Price Trend Q2 2026 | Price Trends, Forecast, Chart, Prices and Index

The Nitric Acid Price Trend in Q2 2026 showed a strong increase across major global markets. Higher ammonia costs, elevated energy expenses, firm demand from fertilizer and chemical industries, and relatively tight supply conditions supported the market during most of the quarter. However, prices moved lower in June as downstream buying slowed, product availability improved, and energy costs eased. This article explains the Nitric Acid Prices movement, major regional trends, Nitric Acid Price Chart, Nitric Acid Price Index, key market drivers, and Nitric Acid Price Forecast for the period ahead.

Nitric Acid Price Trend: Q2 2026 Market Overview

The Nitric Acid Price Trend during Q2 2026 was mostly upward, with the market experiencing a strong price increase compared with the previous quarter. On a global level, nitric acid prices increased by approximately 48% in Q2 2026 compared with Q1.

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The rise was mainly connected to higher production costs. Ammonia, which is one of the key feedstocks used to produce nitric acid, became more expensive during the quarter. When the cost of ammonia rises, producers generally face higher expenses for manufacturing nitric acid.

Energy costs also played an important role. Higher global energy prices increased manufacturing and operating expenses. Transportation and logistics costs also became more important as supply chains faced additional pressure.

At the same time, demand remained healthy. Fertilizer manufacturers and industrial users continued to purchase nitric acid because it is an important input for several downstream applications. This steady demand helped support prices even when buyers were facing higher costs.

On the supply side, production remained moderate. Manufacturers had to manage higher feedstock and operating costs, while supply disruptions and logistical challenges created additional pressure. As a result, the overall market remained relatively tight during most of the quarter.

What Drove Nitric Acid Prices Higher?

There were several reasons behind the increase in Nitric Acid Prices during Q2 2026.

The first major factor was ammonia. Ammonia prices increased substantially during the quarter, raising the cost of nitric acid production. For producers, this meant that maintaining normal production became more expensive.

The second factor was energy. Higher energy costs affected manufacturing expenses and added another layer of pressure to the market.

The third factor was demand. Fertilizer and chemical industries continued to maintain healthy procurement activity. Buyers still required material for their regular operations, so demand did not fall enough to offset the increase in production costs.

Supply conditions were another important factor. Although production continued, manufacturers faced higher costs and disruptions in raw material availability and logistics. This kept supply relatively constrained.

Geopolitical tensions also affected the market. Disruptions around important trade routes, including the Strait of Hormuz, created uncertainty for the movement of raw materials and finished products. These conditions contributed to tighter supply and supported the upward movement in prices.

Nitric Acid Price Trend in India

India's nitric acid market recorded an increase of approximately 48% in Q2 2026 compared with the previous quarter.

The increase was supported by higher ammonia costs and rising global energy expenses. Demand from fertilizer and chemical industries remained firm, allowing the market to maintain healthy consumption.

Manufacturers continued production but had to deal with higher operating expenses and feedstock costs. Supply therefore remained relatively tight despite stable domestic production.

Geopolitical tensions and trade disruptions also affected raw material availability and logistics during the quarter. These factors added uncertainty to the Indian market.

However, the market saw a noticeable correction in June. Nitric Acid Prices in India declined by approximately 25% compared with May. The decline was mainly caused by reduced downstream demand after peak buying activity, better product availability, and lower energy costs.

This shows that although the market was strongly bullish during most of Q2, prices could move lower once buying activity slowed.

Nitric Acid Price Trend in China

China recorded an increase of approximately 30% in nitric acid prices during Q2 2026 compared with Q1.

Higher ammonia costs remained one of the main factors supporting the increase. Elevated global energy costs also increased manufacturing expenses.

Demand from fertilizer and chemical industries remained healthy across both domestic and export markets. This helped maintain steady consumption throughout the quarter.

Production remained moderate because manufacturers were dealing with higher production costs. At the same time, supply remained relatively tight because of disruptions affecting raw materials and trade flows.

In June, prices declined by approximately 31% compared with May. The correction was linked to weaker downstream demand after the peak buying period, improved product availability, and lower energy costs.

The Chinese market therefore followed the broader regional pattern of strong quarterly growth followed by a June correction.

Nitric Acid Price Trend in Saudi Arabia

Saudi Arabia witnessed an increase of approximately 50% in nitric acid prices during Q2 2026 compared with the previous quarter.

Higher ammonia prices increased production expenses, while elevated energy costs added further pressure. Demand remained healthy from fertilizer and industrial sectors, supporting stable consumption.

Supply conditions remained relatively tight even though production was adequate. Trade disruptions and geopolitical uncertainty also affected raw material availability and regional logistics.

In June, Nitric Acid Prices declined by approximately 30% compared with May. Lower downstream demand, improved product availability, and lower energy costs contributed to this decline.

The overall Saudi Arabian market remained firm during most of Q2 before experiencing a correction at the end of the quarter.

Nitric Acid Price Trend in Kenya

Kenya recorded an approximately 34% increase in nitric acid prices during Q2 2026 compared with Q1.

The increase was influenced by higher ammonia costs and elevated energy expenses. Since Kenya depends on imports for nitric acid, higher international production and transportation costs also had an effect on the domestic market.

Demand from fertilizer and chemical industries remained firm despite higher prices. This supported healthy consumption throughout the quarter.

Supply was available but remained relatively tight because of import dependence, trade disruptions, and higher logistics costs.

In June, nitric acid prices declined by approximately 32% compared with May. Reduced downstream demand, improved product availability, and lower energy costs were the main reasons for the decline.

Nitric Acid Price Trend in South Korea

South Korea experienced one of the largest increases among the markets covered, with nitric acid prices rising approximately 60% during Q2 2026 compared with the previous quarter.

Higher ammonia prices had a strong impact on production costs. Energy prices also remained elevated, increasing the cost of manufacturing.

Demand from fertilizer and chemical manufacturers stayed strong, supporting steady consumption.

Production remained moderate because manufacturers had to manage higher operating expenses. Supply conditions were also relatively tight as disruptions affected raw material availability and export logistics.

In June, prices declined by approximately 26% compared with May. The correction was caused by lower downstream demand, improved availability, and lower energy costs.

Nitric Acid Price Trend in Belgium

Belgium recorded an increase of approximately 39% in nitric acid prices during Q2 2026 compared with Q1.

Higher ammonia and energy costs supported the upward price movement. Demand from fertilizer and chemical industries remained firm, resulting in healthy consumption.

Production remained moderate as manufacturers dealt with higher operating costs. Supply conditions were relatively tight because of disruptions affecting raw material availability and regional trade.

In June, prices declined by approximately 25% compared with May. The decrease reflected lower industrial demand after peak buying activity and reduced energy costs.

Nitric Acid Price Trend in Germany

Germany recorded a price increase of approximately 37% during Q2 2026 compared with the previous quarter.

Healthy procurement from fertilizer and industrial sectors supported demand. At the same time, higher ammonia costs and elevated energy expenses increased production costs.

Manufacturers maintained moderate production while managing feedstock volatility and higher operating expenses.

Supply disruptions and geopolitical tensions also affected raw material availability and logistics, creating relatively tight regional supply conditions.

In June, German nitric acid prices declined by approximately 22% compared with May. Reduced industrial demand and lower energy costs were the main factors behind the decline.

Nitric Acid Price Trend in the UAE

The United Arab Emirates recorded the highest increase among the covered markets, with nitric acid prices rising approximately 63% in Q2 2026 compared with Q1.

The increase was supported by higher ammonia costs, elevated energy prices, and strong demand from fertilizer and chemical industries.

Production remained moderate as manufacturers managed higher feedstock costs. Regional trade disruptions also affected supply and availability.

Supply conditions remained constrained during most of the quarter, helping maintain upward price pressure.

However, June brought a correction of approximately 30% compared with May. Reduced downstream demand, improved product availability, and lower energy costs helped bring prices down.

Nitric Acid Price Chart: Q2 2026

The Nitric Acid Price Chart for Q2 2026 would show a strong upward movement across all major markets compared with the previous quarter.

The approximate quarterly increases were:

• India: 48%

• China: 30%

• Saudi Arabia: 50%

• Kenya: 34%

• South Korea: 60%

• Belgium: 39%

• Germany: 37%

• UAE: 63%

The UAE recorded the strongest increase, followed by South Korea and Saudi Arabia. China recorded the lowest increase among the markets covered, although its 30% rise was still significant.

The chart would also show a clear correction in June. Compared with May, prices declined by approximately 22% to 32% across the covered markets.

This combination of quarterly increases and June declines shows that the nitric acid market remained highly sensitive to changes in demand, supply, energy costs, and raw material prices.

Nitric Acid Price Index: Market Performance

The Nitric Acid Price Index remained supported during most of Q2 2026.

The index reflected the impact of higher production costs and strong demand from fertilizer and industrial sectors. Rising ammonia costs were particularly important because they directly affected the economics of nitric acid production.

The index also reflected supply-side challenges. Even though production continued, manufacturers had to manage higher costs and logistical difficulties.

The geopolitical situation added another layer of uncertainty. Disruptions around major trade routes affected raw material movement and product availability in some markets.

However, the June correction showed that the market could move lower when demand became weaker and supply availability improved.

Why Did Nitric Acid Prices Fall in June?

The decline in June was mainly a result of changing market conditions.

During the earlier part of Q2, buyers were active and many downstream industries were purchasing material to meet their requirements. Once peak buying activity ended, procurement slowed.

This reduced demand created less competition among buyers. At the same time, product availability improved in several markets.

Lower energy costs also helped reduce some of the pressure on producers. With demand becoming weaker and supply becoming more comfortable, prices corrected from the high levels seen in May.

The June decline therefore does not necessarily mean that the entire nitric acid market had become bearish. It was more of a market correction following a strong price increase earlier in the quarter.

Nitric Acid Price Forecast

The Nitric Acid Price Forecast for the coming period will depend on several important factors.

Ammonia prices will remain one of the biggest factors to watch. If ammonia remains expensive, nitric acid producers will continue to face high production costs.

Energy prices will also have a direct impact. Lower energy costs could reduce production pressure, while higher energy costs could provide fresh support to prices.

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Demand from fertilizer and chemical industries will be another important factor. If downstream industries return with stronger procurement requirements, prices could receive renewed support.

Supply availability will also determine the direction of the market. Better production and improved logistics could put downward pressure on prices. On the other hand, new supply disruptions could quickly tighten the market and push prices higher again.

Based on the Q2 2026 trend, the market outlook appears sensitive to changes rather than being clearly one-directional. The strong quarterly increase and sharp June correction show that prices can move quickly when market fundamentals change.

What Buyers Should Watch

Businesses that regularly purchase nitric acid should not focus only on the current market price.

It is useful to monitor ammonia prices, energy costs, fertilizer demand, chemical industry activity, supply availability, freight conditions, and international trade developments.

The Nitric Acid Price Trend provides an idea of where the market is moving, while the Nitric Acid Price Chart makes it easier to understand the recent price direction.

The Nitric Acid Price Index can also provide a broader view of market conditions.

Following these indicators together can help buyers understand whether a price movement is likely to continue or whether the market may be moving toward a correction.

The Nitric Acid Price Trend in Q2 2026 was strongly positive across the major markets covered in this analysis. Global prices increased by approximately 48% compared with Q1, supported by higher ammonia costs, elevated energy expenses, firm fertilizer and chemical demand, and relatively tight supply.

The strongest quarterly increase was recorded in the UAE at approximately 63%, followed by South Korea at around 60% and Saudi Arabia at approximately 50%. India recorded a 48% increase, while Belgium, Germany, Kenya, and China also experienced notable gains.

However, June showed a different picture. Nitric Acid Prices declined across all covered markets as downstream buying slowed after the peak procurement period, product availability improved, and energy costs became lower.

Overall, Q2 2026 highlighted how closely nitric acid prices are connected to feedstock costs, energy markets, downstream demand, supply conditions, and international logistics.

Going forward, ammonia prices, energy costs, fertilizer and chemical demand, supply availability, and geopolitical developments will remain the main factors to watch.

For buyers and other market participants, regularly monitoring the Nitric Acid Price Trend, Nitric Acid Prices, Nitric Acid Price Chart, and Nitric Acid Price Index can provide a clearer understanding of market direction and help with better purchasing and planning decisions.

About Price Watch™

Price Watch™ is an India-based, independent raw material price reporting agency that provides real-time price forecasts and data-driven insights into global raw material markets. Price Watch™ specializes in tracking raw material prices, analyzing market trends, and delivering timely updates on plant shutdowns, supply disruptions, capacity expansions, and demand-supply dynamics. 

The Price Watch™ platform empowers manufacturers, traders, and procurement professionals to make faster, smarter decisions. Leveraging AI-powered forecasting and over a decade of historical data, Price Watch™ transforms market volatility into actionable opportunity.

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