Report Code: A12710 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Concentrated Nitric Acid Market
Request Now !Concentrated nitric acid is a highly corrosive, smoke-like liquid, colorless to yellow, with a boiling point of 83 degrees Celsius and a freezing point of 2 degrees Celsius. This acid is the most common reagent used in the laboratory to produce inorganic and organic nitrates. Concentrated nitric acid can be produced by dissolving additional nitrogen dioxide in 68% nitric acid. Contact with concentrated nitric acid on the skin is toxic and can cause severe burns. It is widely used in agriculture to make fertilizers. This acid is used in the production of elastomers, polyurethane foams and neoprene. Concentrated nitric acid is also used in rocket propellants as an oxidizer. It's also used in dye intermediates. During the forecast period, the demand for concentrated nitric acid is expected to be driven by an increase in demand for polyurethane foam in the building and construction and automotive industries. Concentrated nitric acid is used to make nitroglycerine, trinitrotoluene, toluene diisocyanate, nitrobenzene, adipic acid, and ammonium nitrate. These products are used in a variety of end-use industries, including electronics, automotive, explosives, and agrochemicals.
COVID-19 Impact analysis
Top Impacting factor
Rising population combined with shrinking arable land, increased usages in elastomers, synthetic rubbers, polyurethane foams in the automotive industry, and rising applications in the aerospace and chemical industries are some of the factors expected to drive the concentrated nitric acid market during the forecast period. On the other hand, rising demand for technical ammonium nitrate will boost various opportunities, leading to the growth of the concentrated nitric acid market during the forecast period. Ammonium nitrate is used to make Ammonium Nitrate Fuel Oil (ANFO), which is widely used in the manufacture of bulk industrial explosives. During the forecast period, rising demand for ANFO in the manufacture of civil explosives is expected to drive the ammonium nitrate application segment. However, the toxicity of concentrated nitric acid is expected to hamper the market.
Market Trends
Expansion
Key Benefits of the Report
Questions answered in the concentrated nitric acid Report
Concentrated Nitric Acid Market Report Highlights
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Key Market Players | Hanwha Corporation, CF Industries Holdings Inc., GNFC Limited, The Dow Chemical Company, Linde, LSB Industries, UBE INDUSTRIES Ltd., BASF SE, Sasol Limited, Yara |
INEOS Capital Limited., The Chemours Company, Rashtriya Chemicals and Fertilizers Limited, DFPCL, Koch Fertilizer LLC |
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