QYResearch: The global production of nitric acid reached 42085 K MT by the end of year 2016 ●Research Report ● Market Survey and Research ●Industry Analysis
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Nitric acid is poisonous liquid that gives off choking red or yellow fumes in moist air. It is a strong oxidizing agent. It ionizes readily in solution, forming a good conductor of electricity. It is miscible with water in all proportions. Nitric acid is a clear to slightly yellow aqueous solution that has been treated to remove most free nitrogen oxides. This highly corrosive intermediate chemical is a strong mineral acid used in the production of nitrate based fertilizers, nylon precursors and other specialty chemicals.
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Nitric acid is poisonous liquid that gives off choking red or yellow fumes in moist air. The main application of nitric acid is in the production of nitrogen fertilizers. Considerable quantities are also used in the chemical synthesis of intermediate products in the production of such things as dyes, drugs, and explosives. The global production of nitric acid reached 42085 K MT by the end of year 2016. In the world wide, the top five manufacturers of nitric acid are CF Industries Holdings, Yara, EuroChem, URALCHEM and Orica. The manufacturers of nitric acid are concentrated in America, Europe and China. Europe is the largest consumer in the world, which occupied about 32.65% in 2016. According to QYRresearch, the country which has the largest consumption volume in the regions analyzed in our report of nitric acid industry is Europe. Besides, America, China, should also be focused by the investors. In the future, investors should also pay attention on the emerging markets. They will become the potential big consumers of nitric acid.
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With the development of nitric acid, QYResearch tend to believe that this industry still has a bright future. As for product prices, the slow downward trend in recent years will continue in the next few years, as competition intensifies. Similarly, there will be fluctuations in gross margin.
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