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Nitromethane is a simple organic compound with chemical formula CH3NO2.it is a polar compound that is generally used as solvent in many industrial applications. Also, it is widely used as a chemical intermediate in manufacturing of pharmaceuticals, pesticides, explosives, fibers and others. Nitromethane is a common fuel additive that is used in sport motors. It is prepared by reacting propane with nitric acid in gas phase at temperature of 350-420 C.
Increasing demand from industrial sector for cleaning agents, semiconductor processing, cleaning and degreasing is likely to boost the market growth. Additionally, the use of nitromethane as stabilizers for chlorinated solvents and as solvent for dissolving the acrylate monomer used to make adhesives shall create positive impact on market. The use of nitromethane as fuel additive in racing sport and high performance fuel application due to lower consumption of air for consumption shall boost the market growth.
However, nitromethane is highly flammable liquid which also can cause explosions leading to financial and physical damage. This is expected to hinder the market growth.
Key Market Driver -
Increasing demand from industrial sector.
Key Market Restraint -
Highly flammable nature.
Based on purity, the global nitromethane market is segmented into >99% and <99%. Based on application, is segmented into explosives, solvent, chemical intermediate, fuel & fuel additives, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global nitromethane market consists of global & regional players operating. Some of the key players in the market include Angus Chemical Company, Greenchem Industries LLC, Linyi Yuanbo Chemical Co., Ltd, Wujiang Bolin Industry Co., Ltd., Antera Agro Chem, CDH Fine Chemicals India, Jigchem Universal, Wego Chemical & Mineral Corp, Aceto Corporation, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held the largest share in the market in terms of value and volume in 2018. It is expected to continue its dominance attributed to high demand from large industrial bases in China and India. North America is expected to show significant growth attributed to the high demand from chemical and pharmaceutical sector. Europe is expected to show substantial growth due to the high demand for fuel and fuel additives containing nitromethane. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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