CONCENTRATED NITRIC ACID MARKET ANALYSIS
Drivers and Restraints
Rising demand for concentrated nitric acid from several end-use industries such as automotive and agrochemicals among others is fueling growth of concentrated nitric acid market. According to the U.S. Environmental Protection Agency (EPA), around 70% of nitric acid is used for the production of ammonium nitrate (NH4NO3), which finds wide application in fertilizers. Furthermore, rising demand for nylon 6-6, as a replacement for metals in the automotive industry is fueling growth of concentrated nitric acid market.
However, stringent government regulations and environmental concerns are major restraining factors hindering growth of concentrated nitric acid market. According to the United States Government Publishing office (GPO), under title 49 CFR 173.158, nitric acid (more than 40% of concentration) cannot be packed with any other material and should not contain impurities such as hydrochloric (HCl) or sulfuric acid (H2SO4) acid while transported by highway or by rail.
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