Global Nitromethane Market Overview:
Nitromethane (CH3NO2) is a nitroalkane used as a synthesis intermediate for nitromethane derivatives, as a solvent, as an explosive, and as fuel or fuel additive. It is used to produce industrial antimicrobials and pharmaceutical products. It is a colorless and highly flammable that emits toxic fumes of nitrogen oxides upon decomposition. It has harmful effects on humans causing skin irritation and affects the central nervous system causing nausea, dizziness and narcosis. However, it used as a raw material in the chemical industry and as synthesis intermediates in various applications.
As per latest study released by AMA Research, the Global Nitromethane market is expected to see growth rate of 4.1%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Growth Drivers:
Demand for Nitromethane in Pharmaceuticals, Agricultural, and Chemical Industry and Increasing Use of Nitromethane as Fuel in High-Performance Motorsports
Challenges:
Stringent Regulations for Handling and Use of Nitromethane in Various Countries such as United States, United Kingdom, Germany, China, and Norway
Restraints:
Can Detonate and Cause Serious Harm to People and Property
Opportunities:
Growing Use in Degreasing, Dry Cleaning, and Semiconductor Processing Applications and Highly Functional Molecule for Organic Synthesis
Competitive Landscape:
The market is highly competitive due to the presence of several prominent vendors. Some of the leading vendors are adopting some organic and inorganic strategies such as a merger, acquisition, product launches, and partnerships, among others in order to gain competitive advantage. Moreover, some of the leading vendors are focusing on technological advancements in order to offer advanced products by adhering industries requirements.
Some of the key players profiled in the report are ANGUS Chemical Company (United States), Aceto Corporation (United States), Greenchem Industries LLC (United States), Wego Chemical & Mineral Corp (United States), Linyi Yuanbo Chemical Co., Ltd (China), Zibo Xinglu Chemical Co., Ltd. (China), Wujiang Bolin Industry Co., Ltd. (China), JIGCHEM UNIVERSAL (India), Antera Agro Chem (India), CDH Fine Chemicals (India), Zhanhua Binbo Chemical (China) and Shandong Xinghui Chemical (China). Analyst at AMA Research see China and India Vendors to retain maximum share of Global Nitromethane market by 2030. Considering Market by Packaging Type, the sub-segment i.e. Plastic Containers will boost the Nitromethane market. Considering Market by Grade, the sub-segment i.e. 0.99 Grade will boost the Nitromethane market. Considering Market by End User, the sub-segment i.e. Pharmaceutical will boost the Nitromethane market.
Latest Market Insights:
In December 2023, CleanCraft, a provider of sustainable cleaning solutions, announced a partnership with ECA Robotics, a developer of autonomous cleaning robots, to integrate CleanCraft's eco-friendly cleaning chemicals with ECA Robotics' autonomous scrubber dryers. This collaboration aims to offer a combined solution for automated, sustainable cleaning.
In October 2023, Tennant Company launched the T7L, a compact and easy-to-use electric scrubber dryer designed for smaller facilities and tight spaces. This new model caters to the growing demand for versatile and maneuverable cleaning solutions.
The American Conference of Governmental Industrial Hygienists has set a TWA threshold limit value for nitromethane of 20 ppm, or 50 mg/m3. Nitromethane is considered immediately dangerous to life or health at a concentration of 750 ppm. Nitromethane also is regulated by the United States Environmental Protection Agency, with standards and record-keeping requirements for industrial facilities that produce nitromethane.
What Can be Explored with the Nitromethane Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Nitromethane Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Nitromethane
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Nitromethane market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Nitromethane market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Nitromethane Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.