Title: North America and Europe Concentrated Nitric Acid market to hit global growth over 2017-2024
1Concentrated Nitric Acid Market Price Trends
Industry Outlook Forecast 2017-2024
2Global Market Scenario of Concentrated Nitric
Acid Industry
- Concentrated Nitric Acid Market size will witness
dynamic growth owing to robust growth in
fertilizers industry. Rapid urbanization,
population growth and decrease in arable land are
the key reasons behind growing demand for
fertilizers. Adverse climatic conditions and
shortage of food crops are shifting focus towards
fertilizers market. - Growing automotive industry will drive
concentrated nitric acid market as it is utilized
in manufacturing of light weight strong body
parts of vehicles. Rising demand for synthetic
rubbers, elastomers and polyurethane foams in the
automotive industry is anticipated to drive the
product demand. - Strong application in chemicals industry owing to
its usage in manufacturing of various polymers
including, polyurethane and polyamides is
anticipated to drive concentrated nitric acid
market.
3 Continue
- Moreover, growth in aerospace industry will
propel product demand as it is widely used in
rockets as propellants. There are distinct types
of propellants that are used in the rockets. For
instance, liquid oxidizer is combined with fuels
in the liquid-fueled rockets. Since the product
is a strong oxidizing agent thus, it has been
used as an oxidizer in the liquid-fueled rockets. - Reasons to Buy This Report
- 1. Concentrated Nitric Acid Market size
share forecast by product application,
2017-2024 - 2. Growth drivers, pitfalls industry
challenges - 3. Key Concentrated Nitric Acid Market
growth opportunities emerging business models - 4. Competitive benchmarking with market
share analysis and company profiles - Concentrated nitric acid is corrosive in nature,
with colorless in the pure form and pale-yellow
owing to the decomposition of oxides. The product
with over 85 concentration is known as fuming
nitric acid, while commercial form has
concentration of around 71. This is classified
as red and white based on the nitrogen dioxide
concentration and color solution. It is widely
used in in reagents that are required for the
nitration reactions. - The product is available in two types including
fuming and strong. Strong product segment will
witness robust growth as it includes several
concentrations that range from 51 to 83,
covering almost all applications of the product.
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Research Methodology
5Regional Insights
- North America is anticipated to foresee
substantial growth due to expanding automobile
production in the region. Changing consumer
preferences, growing focus on safety and
environmental benefits has played vital role in
uplifting car sector. Necessity for personal
mobilization and growing urbanization are some
factors positively affecting the industry demand. - Asia Pacific concentrated nitric acid industry
will witness significant growth due to increasing
demand for vehicles, attributable to rise in
disposable income, rapid urbanization and growing
interest for lightweight air vehicles for
accomplishing the stringent government
regulations. - Europe concentrated nitric acid market is one of
the leading consumers of product due to growth in
fertilizer and explosives industry. Western and
eastern Europe accounted for largest demand while
central Europe is projected to provide better
opportunity.
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6Competitive Insights
- Global concentrated nitric acid marketplace is
moderately consolidated with the presence of few
companies holding a large market share. Some of
the major companies for concentrated nitric acid
market are - CF Industries, Agrium, National Chemical Group,
Deepak Fertilizers Petrochemicals, Yara
International, Hanwha Corporation, Koch
Fertilizers, LSB Industries, Shandong Feng yuan
Chemical Stock, and Ube Industries.
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