Procurement Resource Analyses the Production Cost of Nitric Acid in its New Report
Analyses Overview of The New Production Cost Report of Nitric Acid
The new report by Procurement Resource, a global procurement research, and consulting firm, looks in-depth into the costs involved in the production of Nitric Acid. The comprehensive report analyses the production cost of the material, covering the raw material costs and co-product credit, equipment costs, land and site costs, labour wages, maintenance costs, financing charges, and depreciation costs. The extensive study describes the stepwise consumption of material and utilities along with a detailed process flow diagram. The report also assesses the latest developments within the industry that might influence Nitric Acid production costs, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Product Definition:
Nitric acid also known as aqua fortis and spirit of the nite, is a very acidic mineral acid. The pure chemical is colourless, but breakdown into nitrogen oxides and water causing older samples to become yellow. In water, the majority of commercially available nitric acid has a concentration of 68 percent.
Factors Impacting the Nitric Acid Production Cost:
Hanwha Corporation stated in April 2021 that it will invest KRW 190 billion (USD 170 million) in Yeosu Industrial Complex, south of Seoul, to establish a nitric acid manufacturing facility with an annual output capacity of 400-kilo tonnes by 2024. As a result, the company’s yearly nitric acid production capacity will rise from 120 kilotons to 520 kilotons by 2024. The substance is used to make TDI and adipic acid, both of which are important in the synthesis of Nylon 6, 6. Nylon 6, 6 is also utilised in a variety of industries, including the production of plastics and industrial carpets. Nitric acid is a key component in the production of Nitrobenzene, which is widely used in the construction sector. During the projected period, the construction industry is expected to drive up demand for Nitrobenzene. Therefore, these factors are anticipated to impact the production cost of Nitric Acid.
Procurement Resource Assessment of Nitric Acid Production:
The production cost report by Procurement Resource assesses the production of Nitric acid via Ammonia. The production process of Nitric acid via ammonia involves a process known as Ostwald’s process. High-temperature corrosion of anhydrous ammonia is carried out in this process, in the existence of platinum or rhodium gauze to generate nitric oxide. The obtained product then reacts with oxygen to give nitrogen dioxide, followed by its reaction with water to finally produce nitric oxide and Nitric Acid.
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