Press release
Picric Acid Market Dominates Revenue, Aims for US$ 80.6 Billion by 2031 | Chemtura, Innospec, BASF, Shell, DOW
Picric Acid Market
Picric acid, also known as 2,4,6-trinitrophenol, is an acidic yellow crystalline compound that is commonly used in the manufacturing of dyes, wood preservatives, explosives, and pharmaceuticals. It is often used as an explosive component in older detonators.
Market Dynamics:
The picric acid market is expected to grow at a significant rate during the forecast period. This is owing to rising demand for picric acid from the healthcare industry for manufacturing various pharmaceutical intermediates and drugs. Picric acid is a key starting material used in the production of several antiseptic drugs such as sulfanilamide, sulfapyridine, and sulfathiazole, among others. Additionally, increasing applications of picric acid in metal plating and wood preservatives is also expected to support the market growth over the forecast period. The growing construction industry globally has led to rising demand for wood preservatives, which is further expected to propel the picric acid market.
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Picric Acid Market Drivers:
Increasing Demand from Defence Industry for Propellants
The global defence industry has been growing significantly over the past few years. Countries are increasingly investing in defence technologies and upgrading their weapon systems which is driving the demand for propellants. Picric acid is a key explosive material used in the production of propellants and explosives for the defence industry. As countries focus more on military strengthening, the procurement and development of new weapon systems will support the growth of picric acid market.
Picric Acid Market Opportunity:
Development of Less Sensitive Picric Acid Derivatives
While picric acid itself is highly unstable and dangerous to handle, ongoing research aims to develop safer picric acid derivatives with lower sensitivity towards external stimuli like heat, pressure or impact. Some progress has been made to synthesize picric acid salts and complexes that exhibit reduced detonability and explosion risks compared to pure picric acid. If stable and cost-effective picric acid derivatives are commercialized, it can help drive the Picric acid market by enabling wider applications and usage where pure picric acid cannot be employed due to safety issues. This presents a huge opportunity for innovation and market expansion.
Picric Acid Market Trend:
Adoption of Digital Supply Chain Technologies
Digitalization is transforming industrial operations across sectors. Leading picric acid manufacturers are adopting emerging technologies like internet of things (IoT), blockchain, cloud computing etc to digitize and optimize their supply chain processes. Real-time production and inventory monitoring through IoT ensures higher efficiency while blockchain finds usage to securely track shipments in the highly regulated picric acid supply chain. Adoption of smart digital solutions helps producer lower costs and better comply with regulations. This trend of digitization is expected to continue supporting the picric acid market growth over the long run by enabling higher productivity and traceability right from production to end use.
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Top Companies Featured in This Report:
★ Chemtura
★ Innospec
★ BASF
★ Shell
★ DOW
★ GE
★ Nalco
★ Afton
★ Baker Hughes
★ Chemours
★ Biobor.
Market Segmentation:
By Product Type:
★ Dry and Dehydrated
★ Less than 30% wet
★ D1B
★ D2B
★ E
★ F
★ More than 30% wet
★ B4
★ D1B
★ D2B
★ E
★ Defense
★ Pharmaceutical
★ Textile
★ Mining
★ Agriculture
★ Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Picric Acid Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Picric Acid market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Picric Acid market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Picric Acid market.
Segment Analysis: Examining the market value and sales volume of Picric Acid by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Picric Acid market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Picric Acid sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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