Nitric Acid Prices, Trends & Forecasts | Provided by Procurement Resource
Nitric Acid (HNO3) is an organic chemical compound that is intensively corrosive. The compound tends to acquire a colorless or pale-yellow colored appearance and is found in fluid form. It plays a vital role in the production of fertilizers and explosives.
The compound, commonly known as aqua fortis, is toxic and acidic, hence, causes severe damage to the skin if exposed directly. It helps to form nitrate salts while reacting with metals, hydroxides, and other oxides. The boiling point measures around 83° C, and the melting point measures around -42° C, respectively. Commercially, Nitric Acid is obtained by the catalytic oxidation of ammonia in the Ostwald’s process.
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The key exporting countries for Nitric Acid are Germany, Belgium, and South Korea. On the other hand, the key importing countries for the same are Vietnam, India, and the Netherlands.
Key Details About the Nitric Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Nitric Acid price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Nitric Acid Price Trends, including India Nitric Acid price, USA Nitric Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Nitric Acid Price Trend:
Nitric Acid is extensively used to produce explosives like Nitroglycerin and Trinitrotoluene (TNT). It is used to synthesize many other chemical compounds. Polymers such as polyurethane and polyamides are produced on a large scale using Nitric Acid. The process of purification of metals like gold and platinum involves the presence of Nitric Acid in it.
Other applications include manufacturing dyes, nitrogen-based compounds such as nylon, fertilizers like ammonium nitrate, etc. drugs, coal tar products, and much more. The following compound is commonly used as a laboratory reagent and fabricator in the woodwork to make the wood look aged. Nitric Acid is also used to clean equipment in the food and packaging industries.
Key Players:
- CF Fertilisers
- The Chemical Company
- Ube Industries, Ltd
- The Chemours Company
- LSB Industries
News & Recent Development
- Date: November 24, 2022– India’s Petrochemical company, Deepak Fertilizers, signs a deal of about Rupees 80 billion to supply Nitric Acid to a chemical producer firm Aarti Industries, over 20 years.
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