Visiongain has published a new report on Nitric Acid Market Report to 2031: By Type (Strong Nitric Acid, Fuming Nitric Acid, Other Type) By Application (Ammonium Nitrate, Adipic Acid, Toluene di-isocyanate (TDI), Nitrobenzene, Nitrochlorobenzene, Others Application) By End-Users (Fertilizers, Explosives, Chemical Intermediates, Others End-User) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
Visiongain has estimated that the total market for Nitric Acid would be around $x million in 2020 and is projected to grow at a CAGR of x% during the forecast period 2021-2031. Nitric acid is colorless when pure but has a yellowish appearance when it is old due to the collection of nitrogen oxides. Upon distillation, nitric acid in its pure form begins to boil at 78.2°C and becomes solid when it is well cooled. Nitric acid is a strong oxidizing agent. It ionizes readily in solution, forming a good conductor of electricity. It reacts with metals, oxides, and hydroxides, forming nitrate salts. Nitric acid is produced chiefly by oxidation of ammonia through the Ostwald process. Small amounts are produced by the treatment of sodium nitrate with sulfuric acid. Nitric acid is also a component of acid rain.
Which are the application areas of nitric acid?
Nitric acid is used in the production of ammonium nitrate for fertilizers, making plastics, and in the manufacture of dyes. It is also used for making explosives such as nitroglycerin and TNT. When it is combined with hydrochloric acid, an element called aqua regia is formed. This is a reagent that is capable of dissolving gold and platinum. Additionally, it is used in a colorimetric test to distinguish heroin and morphine. Nitric acid is commonly used in science laboratories at schools for experimenting when specifically testing for chloride. This is accomplished by adding a sample with silver nitrate solution and nitric acid to test if a white precipitate, silver chloride is present. In the field of medicine, nitric acid is used in its pure state as a caustic to remove chancres and warts. Diluted solutions are used in the treatment of dyspepsia. Nitric acid has been used in various forms as the oxidizer in liquid–fueled rockets. These forms include red fuming nitric acid, white fuming nitric acid, mixtures with sulfuric acid, and forms with HF inhibitor.
What factors could lead to an expansion of the Nitric Acid market?
Increasing demand is identified as a key driver of the market for adipic acid in nylon resins and fibres for the production of automotive interior. It is widely used as a forerunner for nylon 6,6, which is widely used globally in the automobile industry. Adipic acid formulation is one of the most important applications of nitric acid. The formulated Nylon is widely used by car manufacturers, based on adipic acid. Nylon products are used as a replacement for heavy-metal components in the automotive industry. The reduction of vehicle weight causes increased energy efficiency because of the low mass of the vehicle and therefore reduced fuel consumption in emissions of carbon. In developing countries such as North America and Europe, growing environmental concerns lead to stringent regulations, with car manufacturers increasingly taking lightweight materials. The demand for nylon 6, 6 over the forecast period is expected to rise.
Leading companies and the potential for market growth
Apache Nitrogen Products Inc.
The Dow Chemical Company
Rashtriya Chemicals & Fertilizers Ltd (RCF)
Angus Chemical Company
Overall world revenue for Nitric Acid Market will surpass $xx million in 2020, our work calculates. We predict strong revenue growth through to 2031. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How the Nitric Acid Market report helps you
In summary, our 300+ page report provides you with the following knowledge:
• What can be the best investment options for new product and service lines?
• In order to make new research and development funding, what value proposals should businesses target?
• Which rules will enhance the supply chain network for stakeholders?
• In which regions in certain segments the demand may mature in the near future?
• What are some of the best cost optimization strategies with suppliers with which some well-trained players succeed?
• What are the key prospects for moving companies into a new growth path? C-suite?
• What regulations in government could challenge the status of key regional markets?
• How will the emerging political and economic scenario affect chances in key fields of growth?
• In different segments, what are the value-taking opportunities?
• How are new players on the market going to prevent entry?
• Revenue forecasts to 2031 for Nitric Acid Market, with forecasts for Type, Application, End-User, each forecasted at a global and regional level– discover the industry’s prospects, finding the most lucrative places for investments and revenues
• Revenue forecasts to 2031 for 5 regional and 20 key national markets – See forecasts for the Nitric Acid market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Argentina, Brazil, Germany, France, UK, Italy, Spain, China, India, Japan, and Australia among other prominent economies.
The comprehensive report offers market estimation and forecast for the period ranging 2021 – 2031 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of Nitric Acid.
The Nitric Acid Market Report 2021-2031 report will be of value to anyone who wants to better understand the market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the industry.
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