The latest report titled “Nitric acid manufacturing” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the manufacturing process of Nitric acid.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, manufacturing cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the manufacturing process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
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Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry, including Nitric acid manufacturing process, that might influence Nitric acid manufacturing cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Product Definition:
Nitric acid is a very strong oxidising acid that is exceedingly corrosive. It is a clear liquid with a strong, pungent smell frequently used to make colors, explosives, and fertilizers. Strong nitric acid is very soluble in water and forms a highly acidic solution. Additionally, it is a potent oxidizing agent that can oxidize a wide range of organic and inorganic substances. Due to this characteristic, it can be used in a variety of industrial processes, including the creation of explosives based on nitrate. It is a versatile and important chemical in many industrial and scientific applications, but it must be handled with caution due to its hazardous properties.
Market Drivers:
One of the biggest end-use markets for nitric acid is the production of fertilisers, which uses nitric acid extensively. It is also used as a precursor to produce nitrate-based explosives, which are widely used in the mining and construction industries. The demand for this acid in this industry is influenced by factors such as economic growth, mining activities, and military spending. In addition to that it is a key raw material in the production of many chemicals, such as adipic acid, toluene diisocyanate (TDI), and nitrobenzene. The production and use of this chemical are governed by environmental laws, which may influence the product’s supply and demand dynamics. Regulations pertaining to greenhouse gas emissions and air pollution are likely to be tightened, which will affect the availability of nitric acid and raise manufacturing costs.
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