Nitric Acid Market | Global 2018 to 2022 | Application | Industry | Features | Trends | Analysis Forecast

Nitric Acid Market:

Abstract:

Nitric Acid Market is primarily driven by the fertilizer industry and is expected to grow at CAGR of 6.5% from 2016-2022. Global fertilizer industry is significantly expanding owing to rise in need for crop yield to meet growing population’s demand of food. Use of ammonium nitrate and calcium ammonium nitrate in fertilizer is expected to be key driver of the nitric acid market’s growth. Ammonium nitrate is derived from nitric acid which is extensively used in manufacturing of explosives and fertilizers. Increasing demand from defense industry owing to use of explosives at cross border area has driven the nitric acid market’s growth.

Nitric Acid is colorless 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. Based on color solution and concentration of nitrogen dioxide, nitric acid is further classified as red fuming and white fuming nitric acid. Unstable nitric acid based compounds are used in explosives while stable compounds of nitric acid are used in production of paints, dyes and pigments. It also acts as reagent for nitration reaction.

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Insight:

Nitric Acid Market Research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of nitric acid market. Detailed analysis is explained and given importance to with best working models.

Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of nitric acid market during the forecast period of 2016 to 2022 is well explained.

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.

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