Nitric Acid Price History and Forecast Analysis | Provided by Procurement Resource
|Product Name||Nitric Acid|
|Molecular Weight||63.013 g/mol|
|Synonyms||7697-37-2, Azotic acid, Hydrogen nitrate, Aqua fortis, Salpetersaeure|
|Region/Countries for which Data is available||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand|
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||Our services can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after service delivery|
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Nitric acid is an inorganic compound that contain the molecules of nitrogen, hydrogen, and oxygen. It has an irritant odour and is strongly corrosive. The chemical formula of nitric acid is HNO3, and its molecular weight is 63.013 g/mol. The product is also referred to as Hydrogen nitrate and is produced by ammonia. The HS code of nitric acid 280800 and its density is 1.51 g/cm³.
The nitric acid importing countries are Malaysia, France, China, and Belgium. While, the exporting countries the Saudi Arabia, Finland, Hungary, and Uzbekistan.
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 trend, 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:
There are several applications for nitric acid in the industrial sector that influence the price trend such as production of nitrate salts, coal tar products, making dyes, plastics, and drugs. Nitric Acid is also employed in the manufacturing of nylon and explosives like nitroglycerin and trinitrotoluene (T.N.T).
- CF Fertilisers,
- The Chemical Company,
- Ube Industries, Ltd,
- The Chemours Company,
- LSB Industries
News and Events:
- April 2021: The South Korean company Hanwha Corporation revealed plans to invest KRW 190 billion in the construction of a 400 kiloton per year nitric acid production facility by the year 2024 in Yeosu Industrial Complex, south of Seoul (USD 170 million). As a result, the company’s ability to produce nitric acid annually is expected to double from its present value of 120 kiloton to 520 kiloton by 2024.
- March 2021: HUCHEMS said that it had finished designing the layout and choosing the technology partners for its new nitric plant, which would be constructed in Yeosu City, Seoul, South Korea, by 2024. Additionally, the company has spent KRW 150 billion (USD 132 million) and constructed a new nitric acid plant with a 0.4 million tonne annual production capacity. The plant may boost the company’s total nitric acid production capacity to 1.5 million tonne.
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