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Nitromethane Market

Nitromethane Market By Product Grade (0.99 Grade, >0.99 Grade), Application (Solvent, Chemical Intermediate, Fuel & Fuel Additive, Explosive) & Region - Forecast 2022-2032

Market Insights on Nitromethane covering sales outlook, demand forecast & up-to-date key trends

Nitromethane Market Overview

The nitromethane market is likely to register a CAGR of 5% during the forecast period, and is anticipated to reach a market share of US$ 12.57 Bn by 2032, from US$ 7 Bn in 2020, as organic synthesis of medicinal and agrochemical compounds is in high demand.

Attributes

Details

Nitromethane Market CAGR

5%

Nitromethane Market (2020)

US$ 7 Bn

Nitromethane Market Size (2032)

US$ 12.57 Bn

Due to the rising demand for nitromethane in various industries, such as automotive, pharmaceuticals, and explosives, the worldwide nitromethane market is predicted to grow rapidly during the forecast period. The expansion of the pharmaceutical sector in Asia Pacific countries such as India, Taiwan, and Thailand has created new opportunities for the nitromethane market.

Nitromethane is the most basic organic nitro compound and polar liquid, and it's mostly utilized as a solvent in industrial applications like extractions, reaction medium, and cleaning solvents, which determine sales of nitromethane. It is frequently employed as an intermediate in organic synthesis in the production of medications, insecticides, explosives, textiles, and coatings, which is a factor for improved sales of nitromethane.

The business models, major strategies, and respective nitromethane market shares of some of the most notable players in this sector are all examined in depth in this nitromethane market report. 

The comprehensive analysis includes market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data that determine the demand for nitromethane, as well as an in-depth commentary on the key influencing variables. This report is one of the most thorough documents available, capturing all aspects of the rapidly changing nitromethane market.

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What are the Contributors for the Growth of the Nitromethane Market?

The nitromethane market share is expanding, as nitromethane is a valuable molecule with significant demand in the organic synthesis of medicinal and agrochemical goods because it efficiently transfers nitrogen. Nitromethane is also employed as a stabilizer of chlorinated solvents in degreasing, dry cleaning, and semiconductor processing applications, leading to higher demand for nitromethane. 

Nitromethane is also utilized in manufacturing adhesives as a dissolving agent or solvent for acrylate monomers. Nitromethane is also utilized as a fuel in high-powered motorsports like drag racing and rockets, which is a contributor to the sales of nitromethane.

What are the Trends in the Nitromethane Market?

When compared to gasoline, nitromethane requires a substantially smaller volume of air for burning, allowing more nitromethane fuel to be burned per engine stroke, resulting in high engine power, leading to higher sales of nitromethane comparatively.

Due to its low oxygen needs for combustion, nitromethane is employed as a monopropellant. As a result, nitromethane is used in a variety of sectors and is a versatile substance with numerous applications, which proliferates the sales of nitromethane. The pharmaceutical and agrochemical industries, as well as the automobile industry, are expected to drive the demand for nitromethane.

Nikhil Kaitwade
Principal Consultant
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Which is the Leading Region for Nitromethane Market?

The pharmaceutical, agricultural, automotive, and chemical industries are expected to have moderate demand for nitromethane in the coming years. With rising demand for agricultural, chemical, and pharmaceutical products, the Asia Pacific area is likely to be a major nitromethane market.

The Asia Pacific region's fast-growing economy will drive up demand for nitromethane. Nitromethane is also a large market in North America and Europe, with consistent demand and a well-developed industry structure.

However, the health risks posed by nitromethane, as well as the strict restrictions governing its handling and use in these locations, raise concerns about sales of nitromethane and may act as a stifling factor. The United States, Germany, Norway, China, and the United Kingdom are some of the most important countries contributing to the nitromethane market share.

What is the Competitive Outlook of the Nitromethane Market?

ANGUS Chemical Company, JIGCHEM UNIVERSAL, Greenchem Industries LLC, Wego Chemical & Mineral Corp, Linyi Yuan Chemical Co., Ltd, Zibo Xinglu Chemical Co., Ltd., Wujiang Bolin Industry Co., Ltd., Aceto Corporation, Antera Agro Chem, CDH Fine Chemicals India are some of the major players in the nitromethane market, which contributes to the nitromethane market share.

  • Top-fuel drag racing, radio-controlled small internal combustion engines, and free-flight model airplanes are all popular activities. Nitromethane, like Trinitrotoluene, is used as a controlled explosive in a variety of industries (TNT). Sales of nitromethane have surged as a result of its widespread use.
  • Biocides, chemicals, and agricultural goods and intermediates all use nitromethane. As a result, manufacturers are focused on using nitromethane as a fuel or fuel additive in hobby vehicles, boats, and model engines, often diluted with methanol.
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Report Scope

Report Attribute

Details

Growth rate

CAGR of 5% from 2022 to 2032

Base year for estimation

2021

Historical data

2015 - 2020

Forecast period

2022 - 2032

Quantitative units

Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,

Segments covered

Product grade, application, region

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

ANGUS Chemical Company, Aceto Corporation, Greenchem Industries LLC, Wego Chemical & Mineral Corp, Linyi Yuan Chemical Co., Ltd, Zibo Xinglu Chemical Co., Ltd., Wujiang Bolin Industry Co., Ltd., JIGCHEM UNIVERSAL, Antera Agro Chem, CDH Fine Chemicals India

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

Frequently Asked Questions

The nitromethane market is anticipated to register a CAGR of 5% during the forecast period.

The nitromethane market share is anticipated to reach US$ 12.57 Bn by 2032.

Demand for nitromethane is likely to rise, as organic synthesis of medicinal and agrochemical compounds is in high demand.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Find your sweet spots for generating winning opportunities in this market.

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