Picric Acid Market

Picric Acid Market Overview

The picric acid market is projected to register a CAGR of 8% during the forecast period, up from US$ 34.6 Bn in 2021, to reach a valuation of US$ 80.6 Bn by 2032.

The picric acid market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfil the demand for picric acid, making it more accessible to customers in the global picric acid market.

Picric acid is an organic aromatic chemical that is a member of the nitro group of organic compounds. Additionally, picric acid is referred to as 2,4,6 trinitrophenol or TNP. Picric acid is a very acidic phenol. Picric acid, like other highly nitrated chemicals, is explosive in nature. 

Picric acid is made by combining anhydrous phenol with fuming sulfonic acid to generate pohydoxyphenylsulfonic acid, which is subsequently nitrated with concentrated nitric acid, or by nitrating 2,4-Dinitrophenol directly with concentrated nitric acid. 

Picric acid is primarily utilised in explosives and ammunition manufacture. Picric acid is used to make explosives such as explosive D, TNT, and TATB. Picric acid is used as an etchant in metallurgy science, particularly for optical metallography.

Sales of picric acid are expected to rise significantly. In addition to this, demand for picric acid is rising on account of US$ 50.8 Bn by 2026. Increasing sales of picric acid are also projected to contribute to the growth of the picric acid market share.

Demand for picric acid in the defence sector is likely to boost as being used in rocket fuel and other explosives as a booster. Sales of picric acid are also likely to increase due to its usage in medicine as an antiseptic and as a therapy for burns. 

Apart from these uses, picric acid is also employed in the manufacture of dyes, photographic chemicals, and intermediates for insecticides. Demand for picric acid is impacted due to its being extremely corrosive in its natural state. Sales of picric acid have seen an impact due to an increase in the number of laws adopted in recent years as a result of its toxic and explosive nature.

Manufacturers tried to increase the sales of picric acid by getting a big platform for the products from which to serve the whole demand for picric acid. The worldwide sales of picric acid are seeing increased competition, and with growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the demand for picric acid more accessible to customers. 

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 are some of the leading participants in the picric acid market.

What are the Key Growth Propellers to the Picric Acid Market Share?

Increased acquisition of ammunition and explosive equipment in the defence and military sectors has resulted in an increase in the sales of picric acid. Demand for explosives and munitions, which is expected to boost the demand for picric acid. The mining sector, which uses industrial grade explosives, is also a large consumer for spiking the sales of picric acid, resulting in an increased demand for picric acid.

Additionally, the rising agrochemical sector is projected to benefit the sales of picric acid. The combination of general purpose drugs is also likely to benefit the sales of picric acid. Demand from the textile industry is also likely to drive up demand for picric acid colour formulation.

However, due to picric acid's toxicity, end users are seeking other alternatives in response to growing environmental concerns hence impacting sales of picric acid. With growing awareness of environmental pollution and safety, the number of strict environmental rules has increased. The reasons stated above may limit the growth and sales of picric acid to a certain extent.

Which is the Leading Region in the Picric Acid Market?

Demand for picric acid is predicted to grow significantly in the Asia Pacific area over the long term, owing to established sectors such as textiles, pharmaceuticals, and agrochemicals. Sales of picric acid will be high in regions such as Europe and North America, particularly in the defence and military, as well as mining industries.

The expansion of the mining, pharmaceutical, and agrochemical industries in Latin America, as well as the Middle East and Africa, would jointly create an opportunity for the picric acid market, which is presently in its infancy.

Nikhil Kaitwade

Principal Consultant

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Who are the Key Players in the Picric Acid Market?

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 are some of the leading participants in the picric acid market

Recent developments of the Picric Acid Market:

• In October 2016, The Mosaic Company (United States) introduced Aspire, a new type of potassium. Aspire with Boron is a micronutrient-enhanced potassium granular fertiliser that has been shown to boost yields. Each granule of Aspire with Boron contains potassium and boron, ensuring consistent dispersion of both minerals throughout an acre. This product introduction aided the corporation in expanding its premium fertiliser range.
• In December 2016, The Mosaic Company (the United States) bought the Fertilizers business of Vale S.A. (Brazil), a global enterprise engaged in metals and mining. Mosaic hopes to become the largest fertiliser producer and distributor in Brazil, one of the world's most important agricultural markets, with this acquisition. This purchase would offer the corporation with an incredible opportunity to profit on the rapidly increasing agriculture industry in Brazil.
• Tunisia's Groupe Chimique Tunisien (GCT) and Chinese firms struck a deal in December 2015 to establish a super-triple phosphate manufacturing plant. This proposed factory would have an annual production capacity of 400 thousand tonnes of super triple phosphate. This manufacturing plant is being constructed to boost 2016 production of 6 million tonnes of commercial phosphate. The manufacturing unit will include a sulfuric acid unit as well as a phosphoric acid unit.

Scope of Report

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Key Segments For Picric Acid Market

By Grade:

• Commercial Grade (<99%)
• High Purity Grade (≥99%)

By Moisture Content:

• Dry/Dehydrated
• Less than 30%
• More than 30%

By Application:

• Explosives & Munitions
• Chemical Intermediates
• Antiseptics

By End User:

• Defence/Ballistics
• Pharmaceuticals
• Agrochemicals
• Textile
• Mining

By Region:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)