Picric Acid Market: Introduction
Picric acid is an organic aromatic compound belonging to the family of organic nitro compounds. Picric acid is also known as 2,4,6 tri nitrophenol or TNP. Picric acid is one of the most acidic phenols. Picric acid is explosive in nature similar to other highly nitrated compounds. Picric acid is synthesized by reacting anhydrous phenol with fuming sulfonic acid to form pohydoxyphenylsulfonic acid which is then nitrated with concentrated nitric acid or picric acid is also synthesized by direct nitration of 2,4-Dinitrophenol with concentrated nitric acid. Picric acid is primarily used in the manufacturing of explosives and munitions. Explosives such as explosive D, TNT, TATB etc. are manufactured from picric acid. In metallurgy science picric acid is used as an etchants especially for optical metallography. Picric acid is used as a booster for rocket fuel and other explosives. Picric acid is also being used in medicine as an antiseptic or for burn treatments. Besides these applications, picric acid is also being used in the formulation of dyes and photographic chemicals and pesticides intermediates. Picric acid is highly corrosive in nature. Oxides of picric acids are toxic in nature. In the recent years there is rise in the number of regulations implemented on picric acid owing to its hazardous and explosive nature.
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Picric Acid Market: Dynamics
Growing use of ammunition and explosive equipment in defence and military sector has elevated the procurement of arms ammunition, owing to which there rise in demand for explosives and munitions which in turn is anticipated to increase the demand for picric acid. Mining industry imbibing industrial grade explosives is also identified as another significant user of picric acid hence subsequently generating additional requirement of the chemical. The growing agrochemical industry is also expected to positively influence the picric acid market. The general purpose medicines coupled with is also expected to have a positive impact on the picric acid market. Demand from Textile industry is also expected to up surge the consumption for picric acid for the formulation of dyes. However, due to the toxic nature of picric acid, end-users are looking for alternative solutions due to rising environmental concerns. Increasing awareness regarding environmental pollution and safety, there has been rise in the number stringent environmental regulations. The aforementioned factors might hamper the growth of picric acid market to an extent.
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Picric Acid Market: Regional Outlook
Demand of picric acid is expected to be generated from Asia Pacific region at significant level owing to demand from the established industries such as textiles, pharmaceutical and agrochemicals in the long term. Regions such as Europe and North America will witness primary demand of picric acid from defence and military as well as mining sectors. Growth of mining, pharmaceuticals and agrochemicals industry in Latin America as well Middle East & Africa will collectively make LAMEA a potential market for picric acid which is currently at a nascent stage.
Picric Acid Market: Segmentation
The global picric acid can be segmented on the basis of its grade, moisture content, application and end use industry.
The global picric acid is segmented on the basis of its grade:
- Commercial Grade (<99%)
- High Purity Grade (≥99%)
The global picric acid market is segmented on the basis of its moisture content:
- Less than 30%
- More than 30%
Picric Acid Market: Key Participants
Some of the key market participants identified in the global picric acid market are:
BASF SE, DowDuPont Inc., Innospec, Odyssey Organics, Aadhunik Industries, Anmol Chemicals Group, Hefei TNJ Chemical Industry Co.,Ltd., Spectrum Chemicals, Loba Chemie Fine Chemicals, Merck KGaA, Ricca Chemical Company, and Mubychem Group among others.
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