Concentrated Nitric Acid Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC460

Introduction

Concentrated nitric acid, which has chemical formula HNO3, is mainly used in explosives pesticides, production of nitrogen fertilizers, synthetic rubbers, polyurethane foams, and elastomers. In rocket propellants and dyes, intermediate concentrated nitric acid also acts as an oxidizer. Concentrated nitric acids are majorly applicable and are used in explosive industries and agrochemicals. One of the largest applications of concentrated nitric acid is the ammonium nitrate. Ammonium nitrate is mainly found in two forms - solid and liquid - which depends on the solution of concentration of ammonium nitrate. Ammonium nitrate can be used as intermediate for other fertilizers such as calcium ammonium nitrate fertilizer and urea ammonium nitrate or directly as a fertilizer. Strong nitric acid comprises various concentrations ranging from 50%-85%, which almost covers all the application areas of concentrated nitric acid. This is also used in manufacturing variety of applications such as adipic acid, ammonium nitrate, nitrobenzene, toluene diisocyanate (TDI), nitro chlorobenzene, and trinitrotoluene (TNT). More than 70% of concentrated nitric acid is used in the production of ammonium nitrate. It is also used as intermediate for explosives and agrochemicals. Strong nitric acid, which is also known as a class-2 oxidizer, can increase the burn rate of material after it comes in contact. This property is used in developing secondary explosives.

Market Dynamics

Concentrated nitric acid is used in producing toluene diisocyanate (TDI), ammonium nitrate, adipic, nitrobenzene, and nitro chlorobenzene. It is used in secondary explosives, which increase the rate of burning of materials whenever they come in contact with. Hence, the demand for concentrated nitric acid from various end-use industries such as agrochemicals, explosives, automotive, and electronics is increasing impulsively. According to harmonized classification and labeling approved by European Union, concentrated nitric acid causes severe eye damage and skin burns and may also catch fire when it comes in contact with air. Owing to the health hazards of concentrated nitric acid, higher precautionary measures are required to be taken by people those are in continuous contact with this chemical. The adoption of concentrated nitric acid is increasing, due to the growing usage of nylon 6, 6, elastomers, and synthetic rubbers. These elements are replacing wood, metal, and glass in furniture, automotive, and building & construction industries. Also, in manufacturing, urea ammonium nitrate (UNA) can be used in making explosives. The increasing demand of concentrated nitric acid in explosives, mining, construction, adipic acid, and nitrobenzene applications is expected to boost the growth of this market in near future.

Market Classification

The market can be bifurcated on the basis of type, application, end-use industry and geography. By type, the concentrated nitric acid market can be segmented into fuming nitric acid and strong nitric acid. By application, the concentrated nitric acid market can be segmented ammonium nitrate, nitrobenzene, adipic acid, toluene diisocyanate and others. Based on end-use industry the concentrated nitric acid market can be segmented into agrochemicals, automotive, explosives, electronics, and among others. On the basis of geography, the concentrated nitric acid market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage

Market

Concentrated Nitric Acid Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Type, Application, End-use Industry, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

Some of the key players operating in the market of concentrated nitric acid market include Agrium Inc., CF Industries, Deepak Fertilisers and Petrochemicals Corp. Ltd., Hanwha Corporation, Koch Fertilizers LLC, LSB Industries Inc., National Chemical Group, OCI N.V., Shandong Fengyuan Chemical Stock Co. Ltd., Ube Industries, and Yara International, among others.

Market Segmentation

Market By Type

·         Fuming nitric acid

·         Strong nitric acid

Market By Application

·         Ammonium nitrate

·         Nitrobenzene

·         Adipic acid

·         Toluene Diisocyanate

·         Others

Market By End-use Industry

·         Agrochemicals

·         Automotive

·         Explosives

·         Electronics

·         Others

Market By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   UK

o   France

o   Germany

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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