Concentrated Nitric Acid Market -Industry Report, Analysis And Forecast
Added: (Wed Dec 26 2018)
Pressbox (Press Release) -
A new report published by Transparency Market Research anticipates the rise in demand for polyurethane foam to be a major driving factor impacting the growth of the global concentrated nitric acid market during 2017-2025.
Also known as aqua fortis and spirit or niter, nitric acid colorless liquid and highly corrosive mineral acid. Commercially, this acid is available in concentrated form i.e., 68% in water and is fuming, colorless, and extremely corrosive liquid with a boiling point at 83°C and freezing point at -42°C. Concentrated nitric acid is the most common corrosive liquid used to make organic and inorganic nitrates. Moreover, it is commonly used to produce fertilizers in the agriculture industry. Concentrated nitric acid is known to be toxic and its contact with skin can lead to severe burns,
Nitric acid’s applications are found in making elastomers, synthetic rubbers, and polyurethane foams. Additionally, it is also used as an oxidizer in rocket propellants and is used in dye intermediates as well. The report expects the demand for polyurethane foam will increase from construction and automotive industries during the forecast period, which will further lead to the significant growth of the market for concentrated nitric acid.
Due to the presence of global and regional players, the market for concentrated nitric acid is highly competitive. The report has included some of the major players operating in the global concentrated nitric acid market to give a better competitive landscape and those include Koch LSB Industries, Fertilizers, Agrium Inc., Deepak Fertilizers, and Petrochemicals Corporation Limited.
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