Key vendors to leverage product innovation to gain market shares.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global nitric acid market in their latest research report. This report also lists seven other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for nitric acid is dominated by a few global players. These players have a vast geographic presence with large production facilities located worldwide. The market is also characterized by the presence of a sizeable number of small regional vendors with significant shares in the market. Vendors in the market space compete in terms of innovations, price, and quality of the product to gain market shares.
According to Ajay Adikari, a lead analyst at Technavio for research on specialty chemicals, “The financial, technological, and other resources of few suppliers are better compared with their competitors. As a result, these suppliers are able to survive changes and adapt to different market conditions.”
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Top five vendors in the nitric acid market space
Agrium
Agrium is a provider of agricultural products. The company’s products and services are divided into two segments: wholesale and retail. The wholesale segment includes fertilizer and industrial products. The retail segment includes crop nutrients, crop protection products, and seeds.
Key products: UAN and nitric acid.
BASF
BASF is one of the leading chemical five business units: chemicals, performance products, functional materials and solutions, agricultural solutions, and oil and gas. The group has its companies in over 80 countries worldwide with six verbund sites and 338 production sites.
Key products: Nitric acid of 65.3% purity, 69.3% purity, and 99% purity
Dyno Nobel
Dyno Nobel manufactures commercial explosives. It operates as a wholly-owned subsidiary of Incitec Pivot. The company offers explosive products and blasting services. Its application areas include fuels, electrical power plant, oil and gas exploration, concrete and building materials, roads and pipelines, gold, iron ore, copper, lead, and fertilizers. There is a range of products provided by the company, which includes ammonium nitrate, bulk explosives, packaged ammonium nitrate fuel oil (ANFO), packaged emulsions, dynamite, electric detonators, non-electric detonators, electronic detonators, cast boosters, detonating cord, seismic explosives, and delivery equipment.
Key products: Ammonium Nitrate, Bulk Explosives, Packaged Ammonium Nitrate Fuel Oil (Anfo), Packaged Emulsions, Dynamite, Electric Detonators, Non-electric Detonators, Electronic Detonators, Cast Boosters, Detonating Cord, Seismic Explosives, and Delivery Equipment.
LSB Industries
LSB Industries manufactures and sells chemical products used in agricultural, mining, and industrial markets. The company has facilities in El Dorado, Arkansas; Pryor, Oklahoma; and Cherokee, Alabama. It also operates a facility within a global chemical company’s complex in Texas. The company’s chemical business includes agrochemical business, El Dorado Chemical Company, El Dorado Nitrogen L.P., industrial acids business, mining products business, and Pryor chemical company.
Key products: Nitric acid.
The Dow Chemical Company
The Dow Chemical Company provides solutions such as increased agricultural productivity, clean water, and clean energy generation and conservation. Its portfolio includes advanced materials, specialty chemicals, and agrosciences. As of December 31, 2015, it held 4,651 active US patents and 19,541 active foreign patents.
Key products: Nitric acid.
Ask an analyst to know more about this report
A more detailed analysis is available in the Technavio report, Global Nitric Acid Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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