Nitric Acid Market Overview:
Nitric Acid belongs to a class of inorganic acids which is both extremely corrosive and toxic. On the basis of nature of nitric acid, unstable nitric acid is extensively used in explosives whereas stable nitric acid is used in the production of dyes, paints, and pigments. The Nitric Acid market is expected to grow tremendously and register a strong growth over the assessment period. Growth of global nitric acid market is predominantly driven by fertilizer and explosive industry. Furthermore, increasing industrial explosive market coupled with strong demand for mining and construction activities is predicted to fuel the market growth.
Nitric Acid Market Key Players:
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, Deepak Fertilizers and Petrochemicals Corp. Ltd among others are some of the prominent players at the forefront of competition in the Global Nitric Acid Market and are profiled in MRFR Analysis.
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Industry/ Innovation/ Related News:
November 2017- Agrium Inc. made a settlement with subsidiary of Trammo Inc. known as Trammo Nitrogen Products Inc., to sell Agrium’s North Bend, Ohio nitric acid facility. Moreover, the company sell its Conda, Idaho, and phosphate production facility to Itafos Company. With this agreement the company help win U.S. Federal Trade Commission approval of merger.
April 2017- Grupa Azoty Group, a Polish chemical company signed an agreement with Thyssenkrupp Industrial Solutions AG for the license for a nitric acid production technology. Construction of new nitric acid manufacturing unit located at Pulawy (Poland) will strengthen the Grupa Azoty position among the leading manufacturers of nitric acid across the globe. In addition to this, this investment will allow company to market new products and expand its product portfolio in fertilizer segment.
August 2016- Deepak Fertilizers & Petrochemicals Corporation Ltd announced that the company will expand its Nitric acid plant capacities. With this expansion, the company meet up the increasing demand of nitric acid and strengthen its position among nitric acid manufacturers across the globe.
March 2015- M+W Group received a major contract from BASF SE for the planning, procurement, turnkey construction and commissioning of a nitric acid production plant. With this, BASF SE will be enhancing its nitric acid production capacity in near future.
Nitric Acid Market Segment:
Nitric Acid is used in fertilizer which act as key application segment. Nitric acid used in ammonium nitrate and calcium ammonium nitrate is used as a fertilizer in the agrochemical industry. The global fertilizer industry is expected to grow owing to rise in population leading to high growth demand for food in countries like China, India and Mexico. Moreover, ammonium nitrate is used in producing urea ammonium nitrate which is used in explosives and in fertilizer solution to meet the growing demand of construction and mining industry. Increasing concern about usage of ammonium nitrate as a fertilizer is leading to ground water contamination which has resulted in number of regulations from developed regions which can restrict the growth of the nitric acid market in the coming years.
Nitric Acid Market is booming and is anticipated to witness a striking growth in fertilizer industry registering a CAGR of 6.5% in terms of value, during the forecast period.
Nitric Acid is colourless and a corrosive mineral acid that has concentration of around 70%. It turns pale yellow due to decomposition of oxides. Commercially nitric acid with more than 85% concentration is known as fuming nitric acid.
Nitric Acid Market Table Of Contents:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Nitric Acid Market
Nitric Acid Market Table Of Contents to be Continue……,
Nitric Acid Market List Of Tables:
Table 1 Global Nitric Acid Market: by Region, 2016−2025
Table 2 North America: Nitric Acid Market, by Country, 2016−2025
Table 3 Europe: Nitric Acid Market, by Country, 2016−2025
Table 4 Asia-Pacific: Nitric Acid Market. by Country, 2016−2025
Table 5 Middle East & Africa: Nitric Acid Market, by Country, 2016−2025
Nitric Acid Market List Of Tables to be Continue……,
Nitric Acid Market List Of Figures:
FIGURE 1 Global Nitric Acid Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Five Forces Analysis of Global Nitric Acid Market
FIGURE 4 Value Chain of Global Nitric Acid Market
FIGURE 5 Global Nitric Acid Market, 2016−2025, by Country, 2017
Nitric Acid Market List Of Figures to be Continue……,
Complete Table of Content is Available at @ https://www.marketresearchfuture.com/reports/nitric-acid-market-2190
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