Why did the Nitric Acid Price Change in July 2025? The Nitric Acid Price Index in North America rose by 0.5% quarter-over-quarter in Q2 2025, driven mainly by persistent supply constraints in May and June, despite a weak April.

Get the latest insights on price movement and trend analysis of Nitric Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In 2024, nitric acid price trends experienced high volatility with steep rises in markets such as North America and Europe because of feedstock price increases and supply interruptions, while oversupply and poor demand in China resulted in decreases.

The global nitric acid market is estimated to record sales of USD 32.7 billion in 2025 and surpass USD 43.5 billion by 2035, exhibiting a CAGR of 2.9%.

Metric	Value
Market Size in 2025	USD 32.7 billion
Projected Market Size in 2035	USD 43.5 billion
CAGR (2025 to 2035)	2.9%

Country-wise Outlook

Country	CAGR (2025 to 2035)
USA	3.1%

Country	CAGR (2025 to 2035)
UK	2.7%

Region	CAGR (2025 to 2035)
EU	2.6%

Country	CAGR (2025 to 2035)
Japan	2.9%

Country	CAGR (2025 to 2035)
South Korea	2.8%

• The industry was valued at US$ 19.8 Bn in 2023
• It is estimated to grow at a CAGR of 4.2% from 2024 to 2034 and reach US$ 31.0 Bn by the end of 2034

Market Introduction

Attribute	Detail
Drivers	High Demand for Fertilizers Rise in Investment in Concentrated Nitric A

Regional Outlook

Attribute	Detail
Leading Region	Asia Pacific

Nitric Acid Market Snapshot

Attribute	Detail
Market Size in 2023	US$ 19.8 Bn
Market Forecast (Value) in 2034	US$ 31.0 Bn
Growth Rate (CAGR)	4.2%
Forecast Period	2024-2034
Historical Data Available for	2020-2022
Quantitative Tons	US$ Bn for Value
Market Analysis	It includes segment analysis as well as regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces Analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2023) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy and recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	By Application Fertilizers Nitrobenzene Toluene Diisocyanate (TDI) Adipic Acid Metal Processing Others
Regions Covered	North America Europe Asia Pacific Latin America Middle East & Africa
Countries Covered	U.S. Canada Germany France U.K. Italy Russia & CIS China India Japan ASEAN Brazil Mexico GCC South Africa
Companies Profiled	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
Customization Scope	Available upon request
Pricing	Available upon request

Explore the factors influencing nitric acid price trends, including raw material costs, demand from agriculture and industry, and global economic conditions. Discover how ammonia prices, regulatory impacts, and technological advancements shape this essential chemical's market dynamics.

The global nitric acid market size reached USD 31.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 41.95 Billion by 2033, exhibiting a growth rate (CAGR) of 3.44% during 2025-2033. The rising demand for nitrogen fertilizers from the agriculture industry, the increasing product applications in the production of TDI and adipic acid, and technological advancements in manufacturing processes represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 31.0 Billion
Market Forecast in 2033	USD 41.95 Billion
Market Growth Rate (2025-2033)	3.44%

IMARC Group provides an analysis of the key trends in each segment of the global nitric acid market report, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, application, distribution channel, and end use.

The Nitric Acid Market Segments the Industry by Concentration (Weak Nitric Acid (less Than or Equal To 68%), Concentrated Nitric Acid (68 To 98%), and Fuming/Red Fuming (more Than 98%)), End-User Industry (Fertilizers, Chemical Manufacturing, Explosives, Aerospace, Inks, Pigments, and Dyes, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Nitric Acid market was valued at USD 27.25 Billion in 2024 and is expected to reach USD 33.93 Billion by 2030 with a CAGR of 3.72%.

Pages	188
Market Size	2024: USD 27.25 Billion
Forecast Market Size	2030: USD 33.93 Billion
CAGR	2025-2030: 3.72%
Fastest Growing Segment	Adipic Acid
Largest Market	Asia Pacific
Key Players	1. Celanese Corporation 2. Jiangsu sopo chemical co. ltd. 3. Eastman Chemicals Company 4. Archer Daniels Midland 5. Tate and Lyle Plc. 6. BASF SE 7. Dow Chemical 8. BioAmber Inc. 9. Henan Jindan Lactic Acid Technology Co., Ltd. 10. Nature Works LLC

According to Cognitive Market Research, the AC Motor Market Size was USD XX Billion in 2025 and is set to achieve a market size of USD XX Billion by the end of 2033 growing at a CAGR of XX% from 2025 to 2033.

North America held largest share of XX % in the year 2024 Europe held share of XX % in the year 2024 Asia-Pacific held significant share of XX % in the year 2024 South America held significant share of XX % in the year 2024 Middle East and Africa held significant share of XX % in the year 2024 Market Dynamics Drivers for Nitric Acid

Rising Demand from Multiple End-use Sectors like Agriculture and Construction to Support Market Growth

Nitric acid finds tremendous usage in the agriculture sector, where it is utilized for the production of fertilizers like ammonium nitrate, potassium nitrate, calcium ammonium nitrate, and nitro phosphate. Fertilizers are applied to boost crop yield to support the rising food demand due to the growing population. Additionally, the increasing disposable income of consumers has further contributed to increased demand for quality and organic food, thereby contributing to the utilization of bio-based fertilizers and fueling market growth. For instance, as per the 2024 IFOAM – Organics International report7, there were 4.5 million organic farmers growing 96.4 million hectares worldwide in 2022. This development has its roots in the early 20th century when organic farming developed as a reaction to soil erosion, depletion, low crop diversity, and deteriorating food quality. Then, fast mechanisation and greater dependence on synthetic fertilizers and pesticides resulted in substantially increased crop production and lower agricultural expenses. The adverse environmental effects of these activities, however, spurred the evolution of the organic farming movement. The increasing construction activities also enhance the market growth as Toluene di-isocyanate (TDI) and HNO3 intermediate are utilized in producing polyurethane foams, wood & floor coatings, and insulation materials. Moreover, enhancing the lifestyles of consumers and rising renovation work and new government infrastructure development are driving forces behind the growth of the nitric acid market. Additionally, the product employed for dye production is also a driving force for market growth. The growth of the fashion sector can be related to strong demand for dye in the textile market. (Source- https://apeda.gov.in/) Restraints for Nitric Acid

The strict government regulations for environmental production and reduced waste 

The government applying rigid restrictions to several industrial applications having to do with the production of fertilizers and the incorporation of nitric acid in agrochemicals would further hamper the pace of growth for the market. The market situation will deteriorate if there is no regulation regarding uniformity. Nitric acid is released as a by-product of chemical production, driving motor vehicles, and discharge of pollute effluent in agricultural areas. For instance, Jan 2025, they can also indirectly influence our health by producing a gas known as ozone (O3). Ozone can lead to respiratory issues and exacerbate acute conditions such as asthma and COPD4. Nonetheless, it also impacts our health via chronic exposure through causing lung inflammation, elevating the risk of respiratory illness, and lowering our cardiovascular health. (Source- https://ourworldindata.org/) The respiratory system could find it hard to breathe environmental pollutants. Environmental regulations aimed at minimizing environmental degradation and limiting industrial waste generation are inhibiting the market from expansion. Increasing alarm over the levels of carbon dioxide emissions by automobiles is exerting more pressure on the market. Thus, the Nitric acid is released as a by-product of chemical production and driving motor vehicle. The respiratory system could find it hard to breathe environmental pollutants. Environmental regulations aimed at minimizing environmental degradation.

Impact of the COVID-19 Pandemic on the Nitric Acid Market:

The coronavirus pandemic had a substantial impact on many end-use industries and temporarily paused commerce and manufacturing. Due to declining demand and decreased manufacturing caused by the epidemic, the economy also suffered, which disrupted the supply cha...

Graph and download economic data for Producer Price Index by Commodity: Chemicals and Allied Products: Synthetic Ammonia, Nitric Acid, Ammonium Compounds, and Urea (WPU0652013A) from Dec 2014 to Aug 2025 about synthetic, chemicals, commodities, PPI, inflation, price index, indexes, price, and USA.

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Nitric Acid Market Forecast 2023-2027

The Nitric Acid Market size is estimated to grow by 6.66 million T between 2022 and 2027, exhibiting a CAGR of 1.98%. Market growth hinges on multiple factors, such as the expansion of the automotive sector, rising utilization of polyurethane foam, and the heightened demand for TNT explosives. Challenges entail health concerns linked to fertilizers, NOx emissions during adipic acid production, and dwindling demand for ammonium nitrate. Our report examines historic data from 2017 to 2021 besides analyzing the current market scenario. This sector heavily relies on materials such as nylon 66 and polyurethanes, both of which are derived from nitric acid, for their lightweight yet durable properties. With the increasing sales of passenger and commercial vehicles, there is a parallel surge in demand for nitric acid to meet the production needs of these essential automotive components. As automotive manufacturers strive to meet consumer demands for lighter, more fuel-efficient vehicles without compromising on durability and safety, the demand for materials derived from nitric acid continues to rise, driving growth in both the automotive and nitric acid industries.

What will be the Nitric Acid Market Size During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by Application (fertilizers and others) and Geography (Europe, APAC, North America, South America, and Middle East and Africa).

Application Analysis

The market share growth by the fertilizers segment will be significant during the forecast period. Fertilizers provide essential nutrients for the healthy growth of plants and crops. It acts as an oxidizer and increases the nitrogen content of the soil by providing essential nutrients required for the growth of plants.

Get a glance at the market contribution of the End User segment Request Free Sample

The fertilizers segment was valued at USD 50.62 million t in 2017 and continued to grow by 2021. It is produced from ammonia, which is the main chemical used for manufacturing fertilizers. Ammonium nitrate is the most important chemical produced from this chemical, the majority of which is used for manufacturing fertilizers. Ammonium nitrate is also used in alloy fertilizer blends, including UAN. The rising use of fertilizers is leading to groundwater contamination, which is increasing its adoption. Urea is becoming the main nitrogen fertilizer as it has no safety-related issues, is economical, and contains more nitrogen. The demand for nitrates in the preparation of explosives is also increasing. The rising demand in the preparation of fertilizers used extensively in APAC is anticipated to drive market growth.

Region Analysis

APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Europe is another key region in the global market. The demand in this region is mainly fueled by its increasing use of fertilizers and explosives. There is a high demand for lightweight vehicles in Europe from major manufacturers such as Volkswagen, Mercedes, Ferrari, BMW, and Audi. Nylon 66, which is produced from adipic acid, is increasingly being used in car parts for fuel efficiency.

Market Definition

It is a colorless, strong, and corrosive mineral acid. It is used for manufacturing fertilizers. Apart from fertilizers, it is also used in dairy processing for the removal of calcium and magnesium deposits.

Market Dynamics and Customer Landscape

The market is witnessing robust growth driven by several key factors. Firstly, the increasing demand from the fertilizer industry, spurred by the need for enhanced crop yields to meet the rising global food demand, is a significant driver. Nitric acid plays a crucial role in the production of nitrogen-based fertilizers like ammonium nitrate and calcium ammonium nitrate, thereby propelling its market growth. Additionally, the expansion of manufacturing activities across diverse sectors such as automotive, textile, and construction further fuels the demand for nitric acid. Its usage in processes like dye manufacturing, resin production, and insulation materials underscores its importance in various manufacturing processes, contributing to market expansion.

Furthermore, technological developments in nitric acid production processes are driving market growth. Companies like BASF SE and Dow Chemicals are spearheading innovations to enhance efficiency and reduce environmental impact, thereby bolstering market prospects. Despite these positive trends, challenges such as health-related hazards associated with nitric acid production and supply chain disruptions due to production h

The Concentrated Nitric Acid Market report segments the industry into By Type (Strong, Fuming), By Application (Ammonium Nitrate, Adipic Acid, Nitrobenzene, Toluene Diisocyanate, Trinitrotoluene, Other Applications), By End-user Industry (Agrochemical, Explosives, Automotive, Electronics, Other End-user Industries), and By Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa).

Industrial Nitric Acid Market Outlook

The global industrial nitric acid market size was valued at approximately USD 22.5 billion in 2023 and is projected to reach around USD 31.6 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period. The growth of the industrial nitric acid market is primarily driven by its expansive applications across various sectors such as agriculture, mining, and chemical manufacturing. The increasing demand for fertilizers is one of the major factors propelling the market forward, as nitric acid is a fundamental component in the production of ammonium nitrate, a key fertilizer. Furthermore, the surge in mining activities worldwide, requiring explosives for extraction processes, is another significant contributor to the market's growth.

One of the primary growth factors for the industrial nitric acid market is the substantial demand within the agriculture industry. As a critical component in the production of nitrogen-based fertilizers, nitric acid is essential for ensuring high agricultural yields. The global population is continuously increasing, leading to heightened food demand and, consequently, agricultural production. This necessitates the use of efficient fertilizers, which in turn, boosts the demand for nitric acid. Additionally, the adoption of sustainable agricultural practices and enhanced crop production methods further drive the usage of nitric acid-based fertilizers. The expanding agricultural sector, particularly in emerging economies with vast farmlands and a focus on agriculture as a key economic segment, provides a robust foundation for the nitric acid market's growth.

Another significant factor driving the industrial nitric acid market is its extensive application in the production of explosives. Nitric acid is a critical component in the manufacture of nitroglycerin and trinitrotoluene (TNT), which are extensively used in mining and construction industries. The expansion of infrastructure projects and the need for efficient extraction of minerals and ores have escalated the demand for explosives. This, in turn, has led to an increase in nitric acid consumption. Moreover, the defense sector's requirement for explosives for various military applications also contributes to the growth of the nitric acid market. The rise in defense budgets and advancements in explosive technologies further bolster demand, creating a consistent market for nitric acid.

The chemical manufacturing industry also significantly contributes to the growth of the industrial nitric acid market. Nitric acid is utilized in the synthesis of several chemical compounds, which are foundational in manufacturing an array of products ranging from plastics to dyes. The chemical sector's growth, driven by technological advancements and an increasing demand for specialized chemicals, augments the demand for nitric acid. Additionally, the development of eco-friendly and sustainable chemical processes that utilize nitric acid enhances its market potential. The ongoing research and innovation aimed at improving chemical synthesis and production efficiencies are expected to provide further impetus to the nitric acid market.

Electronic Grade Nitric Acid is emerging as a critical component in the electronics industry, particularly in the manufacturing of semiconductors and electronic devices. This high-purity nitric acid is essential for cleaning and etching processes in semiconductor fabrication, where precision and purity are paramount. As the demand for electronic devices continues to surge globally, driven by advancements in technology and the proliferation of smart devices, the market for electronic grade nitric acid is expected to expand significantly. The increasing complexity of electronic components and the push for miniaturization further underscore the importance of high-quality nitric acid in ensuring the reliability and performance of electronic products. Additionally, the trend towards more environmentally friendly production processes in the electronics industry aligns with the use of electronic grade nitric acid, which is known for its efficiency and effectiveness in various applications.

Regionally, Asia Pacific dominates the industrial nitric acid market due to its booming agriculture and chemical manufacturing sectors. Countries like China and India are witnessing rapid industrialization and urbanization, which fuel the demand for ni

Find detailed analysis in Market Research Intellect's Nitric Acid Market Report, estimated at USD 15.2 billion in 2024 and forecasted to climb to USD 20.1 billion by 2033, reflecting a CAGR of 3.6%.Stay informed about adoption trends, evolving technologies, and key market participants.

Fuming Nitric Acid Market Outlook

In 2023, the global fuming nitric acid market size was estimated to be approximately USD 1.8 billion, and it is projected to reach around USD 2.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.3% over the forecast period. The driving forces behind this growth include increasing demand from the chemical manufacturing sector, advancements in aerospace technology, and the rising application of fuming nitric acid in pharmaceuticals and electronics. Fuming nitric acid, a highly concentrated form of nitric acid, is a crucial chemical compound used in various end-use industries due to its reactive properties and ability to act as a strong oxidizing agent.

One of the significant growth factors in the fuming nitric acid market is its extensive use in chemical manufacturing. As global industrialization continues to accelerate, the demand for key chemicals and intermediates has surged, driving the demand for fuming nitric acid. This compound is utilized in the production of nitrates and nitro compounds, which are essential for various industrial applications. Furthermore, the push for advanced chemical processes and the development of novel materials have led to an increased reliance on fuming nitric acid, boosting its consumption in the chemical manufacturing sector.

Aerospace and defense industries also play a pivotal role in the growth of the fuming nitric acid market. The compound is widely used in rocket propellants and as an oxidizer in missiles. With global defense budgets on the rise and countries focusing on strengthening their military capabilities, the demand for high-performance propellants has increased. This trend is expected to continue, further propelling the demand for fuming nitric acid. Additionally, the commercial space industry, driven by private space exploration initiatives and satellite launches, is contributing to market expansion by increasing the consumption of this critical chemical.

The pharmaceutical industry is another significant contributor to the growth of the fuming nitric acid market. The compound is used in the synthesis of active pharmaceutical ingredients (APIs) and intermediates, essential for drug formulation. As healthcare needs evolve and new therapeutic solutions are sought, the demand for pharmaceuticals continues to rise, thereby increasing the need for fuming nitric acid. Moreover, the electronics industry, which uses this chemical in the manufacturing of semiconductors and other electronic components, further bolsters the market. The ongoing advancements in technology and the growing consumer electronics market have led to a steady increase in the demand for electronic components, thus driving the use of fuming nitric acid.

Industrial Grade Nitromethane is a key component in various industrial applications, particularly in the production of pharmaceuticals and agrochemicals. Its role as a solvent and intermediate in chemical reactions makes it indispensable for the synthesis of complex organic compounds. The demand for industrial grade nitromethane is driven by its effectiveness in enhancing the efficiency of chemical processes, thereby supporting the growth of industries that rely on high-performance chemical solutions. As industries continue to innovate and develop new materials, the versatility of industrial grade nitromethane ensures its continued relevance and importance in the global chemical market.

Grade Analysis

The fuming nitric acid market is categorized based on grade into red fuming nitric acid (RFNA) and white fuming nitric acid (WFNA). Each grade holds specific characteristics and applications, catering to various industry needs. RFNA, known for its reddish-brown color due to nitrogen dioxide impurities, is primarily used in the aerospace and defense industries. Its high reactivity and effectiveness as an oxidizing agent make it ideal for missile and rocket propellants. With the increasing emphasis on defense capabilities and space exploration, the demand for RFNA is expected to witness a significant upsurge during the forecast period. Moreover, ongoing research into more efficient propellant formulations is likely to further enhance its market share.

White fuming nitric acid, on the other hand, is distinguished by its high purity and minimal nitrogen dioxide presence, making it suitable for applications requiring a high degree of precision and minimal contamination. This includes its use in electronic component manufacturi

Graph and download economic data for Producer Price Index by Industry: Nitrogenous Fertilizer Manufacturing: Synthetic Ammonia, Nitric Acid, Ammonium Compounds, and Urea (PCU325311325311A) from Dec 2014 to Aug 2025 about fertilizers, synthetic, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Commodity: Chemicals and Allied Products: Synthetic Ammonia, Nitric Acid, Ammonium Compounds, and Urea was 120.46400 Index Dec 2014=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Chemicals and Allied Products: Synthetic Ammonia, Nitric Acid, Ammonium Compounds, and Urea reached a record high of 218.63300 in April of 2022 and a record low of 67.00000 in September of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Chemicals and Allied Products: Synthetic Ammonia, Nitric Acid, Ammonium Compounds, and Urea - last updated from the United States Federal Reserve on September of 2025.

The Nitric Acid Market size is expected to reach a valuation of USD 34.37 billion in 2033 growing at a CAGR of 4%. The Nitric Acid market research report classifies market by share, trend, demand, forecast and based on segmentation.

Nitric Acid Market Outlook

According to our latest research, the Global Nitric Acid market size was valued at $27.8 billion in 2024 and is projected to reach $38.6 billion by 2033, expanding at a CAGR of 3.7% during 2024–2033. One of the primary factors driving this robust growth is the increasing global demand for fertilizers, particularly in emerging economies where agricultural output is critical for food security. Nitric acid serves as a fundamental raw material in the production of ammonium nitrate, which is extensively used in fertilizers. Additionally, the market is experiencing a boost from rapid industrialization, infrastructure development, and the expanding chemical manufacturing sector, all of which rely heavily on nitric acid for various applications. The market’s growth trajectory is further shaped by technological advancements in production processes, which have improved efficiency and reduced environmental impact, making nitric acid more accessible and sustainable for diverse industrial uses.

Regional Outlook

Europe currently holds the largest share of the global nitric acid market, accounting for over 35% of total market revenue in 2024. This dominance is attributed to the region’s mature chemical manufacturing sector, stringent environmental policies, and robust agricultural industries. Major countries such as Germany, France, and the Netherlands are home to some of the world’s largest chemical conglomerates, which utilize nitric acid in the production of fertilizers, explosives, and specialty chemicals. The European Union’s focus on sustainable agriculture and precision farming has also contributed to the steady demand for nitric acid-based fertilizers. Furthermore, the presence of advanced production technologies and strong regulatory frameworks ensures high product quality and safety standards, further consolidating Europe’s leadership in the global nitric acid market.

The Asia Pacific region is anticipated to be the fastest-growing market for nitric acid, with a projected CAGR of 5.1% through 2033. This rapid expansion is fueled by burgeoning agricultural activities, significant investments in infrastructure, and the rising demand for chemicals in countries such as China, India, and Southeast Asian nations. The region’s large population base and increasing food consumption have heightened the need for fertilizers, directly boosting nitric acid consumption. Additionally, government initiatives to modernize agriculture and support chemical manufacturing are attracting foreign investments and encouraging local production. The proliferation of mining and metal processing industries in Asia Pacific further amplifies the demand for nitric acid, making this region a focal point for market growth and investment.

Emerging economies in Latin America and the Middle East & Africa are experiencing gradual adoption of nitric acid, primarily driven by the expansion of agriculture, mining, and chemical manufacturing sectors. However, these regions face unique challenges such as limited access to advanced production technologies, fluctuating raw material prices, and regulatory uncertainties. Despite these hurdles, localized demand for fertilizers and explosives is rising, supported by government policies aimed at boosting agricultural productivity and mining output. The adoption of modern farming techniques and infrastructure projects is expected to gradually increase nitric acid consumption in these regions, although growth rates may lag behind those of more developed markets due to infrastructural and policy constraints.

Report Scope

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Attributes	Details
Report Title	Nitric Acid Market Research Report 2033
By Product Type	Fuming Nitric Acid, Dilute Nitric Acid, Concentrated Nitric Acid
By Application	Fertilizers, Explosives, Chemicals, Automotive, Metal Processing, Pharmaceuticals, Others
By End-Use Industry