Press release
Nitric Acid Market 2017: Analysis, Top Key Players, Drivers and Trends by Forecast to 2022
Market HighlightsFertilizer is the key segment of Global Acetic Acid Market. Nitric acid is colorless and turns pale yellow due to decomposition of oxides present in it. According to nitric acid’s nature, unstable nitric acid is used in explosives where else stable nitric acid is used in the manufacturing of paints, dyes and pigments. Nitric acid with more than 85% concentration, is termed as fluming nitric acid. Nitric acid can be red or white fluming nitric acid based on color solution and nitrogen dioxide concentration.
The Global Nitric Acid is driven by the fertilizer and explosive industry. Growing use of nitric acid in the production of calcium ammonium nitrate and ammonium nitrate has driven the fertilizer industry. Ammonium nitrate is used in production of fertilizer in agriculture industry. Urea ammonium nitrate derived from ammonium nitrate is used in explosives and fertilizer solutions. The global industrial explosive market is growing owing to increase in mining and construction industry. Owing to increase in defense activities is also demanding increase in industrial explosives which in turn drive the demand for nitric acid. Increase in need of synthetic fertilizer to meet the growing population demand for food with followed by increase in crop production is expected to boost the nitric acid market in emerging economies like China and India. Excess use of ammonium nitrate is leading to contamination of groundwater that will restrict the growth prospects in forecasted period 2016-2022.
Global Nitric Acid Market is expected to grow at ~6.5% CAGR during 2016-2022
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Key Players
The key players of Global Nitric Acid Market includes:
• The Dow Chemical Company,
• Bayer AG,
• BASF SE,
• LyondellBasell Industries,
• Agrium Inc.,
• Koch Fertilizer, LLC,
• AkzoNobel NV,
• Basic Chemical Solutions LLC,
• PVS Chemicals,
• Apache Nitrogen Products Inc
• others.
The Global Nitric Acid Market volume by application in 2015 was ~5740 kilo ton. Adipic acid which is major application of nitric acid is used in manufacturing of polyester resins. Nylon 6.6 resin and fiber is derived from adipic acid which is employed in manufacturing of automobile components for replacing metal parts and reducing carbon emission. Adipic acid is also used in tire and textile industry. Nitrobenzene produces another compound to aniline which manufacturer polyurethane foams and fibers and pharmaceuticals. The increasing demand of these products in automobile, textile and construction industry is expected to fuel the nitrobenzene market growth. Toluene di isocyanate is used in polyurethane along with rigid products like adhesives, sealants in automobile, carpets and furniture industry. Thus, growing application industries along with increase in derivatives market is likely to boost the nitric acid market growth.
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Table of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Nitric Acid Market
5 Industry Overview Of Global Nitric Acid Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
6 Market Trends
Continue……..
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