Nitric acid is a formulation of adipic acid and is extensively used in various types of applications in the automotive sector. Nylon, which is articulated from adipic acid, is comprehensively used by automobile manufacturers. Nylon products are used in the automotive sector as an alternative for heavy metal components. Vehicle weight reduction leads to increased fuel economy due to low vehicle mass and thereby leads to low-carbon emissions owing to decreased fuel consumption. Increasing environmental concerns leads to stringent regulations in developed regions such as Europe and North America, owing to this automotive manufacturers increasingly adopt lightweight materials.
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Automotive manufacturers in the United States are progressively using polymer matrix compounds to achieve Corporate Average Fuel Economy (CAFE) regulations. These regulations describe standards for automobile manufacturers, which state the least average fuel efficiency for various types of makes and models. Increasing demand for Nitric acid in United and Japan is influenced by demand for lightweight automotive materials, which is expected to create lucrative opportunities for the manufacturers. Ammonia is an important raw material used for the manufacturing of nitric acid. Ammonia export is primarily concentrated in countries such as India, China, the United States, and Russia. The plenty of availability of raw material is anticipated to fuel the market growth to a greater extent.
The "Global Nitric Acid Market Analysis to 2027" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the nitric acid with detailed market segmentation by application. The global nitric acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading nitric acid market players and offers key trends and opportunities in the market.
The global nitric acid market is segmented on the basis of application into fertilizers, adipic acid, nitrobenzene, toluene di-isocyanate, nitrochlorobenzene, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global nitric acid market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The nitric acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the nitric acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the nitric acid market in these regions.
The reports cover key developments in the nitric acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from nitric acid market are anticipated to lucrative growth opportunities in the future with the rising demand for nitric acid in the global market. Below mentioned is the list of few companies engaged in the nitric acid market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the nitric acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
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