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Global Nitromethane Market Share, Size, Growth, Analysis, Trends: By Application: Explosive, Chemical Intermediate, Solvent, Fuel and Fuel Additives, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Nitromethane Market Outlook
The global nitromethane market size is expected to grow at a CAGR of 5.20% in the forecast period between 2024 and 2032, driven by its increasing applications as a fuel additive and solvent in various industries.
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Key Trends in the Market
Nitromethane is an organic compound that is considered to be the simplest form of an organic nitro compound. It is a polar, colourless, and oily liquid that is highly flammable and emits a strong odour. Nitromethane is frequently employed as a solvent in industrial settings, used to produce explosives and fuel. Since nitromethane is a material with a Hazard Class 3 designation, qualified individuals are required for its handling and storage.
- Nitromethane is used as a monopropellant since it requires less oxygen for combustion. As it is a versatile material with several uses, nitromethane is employed in a wide range of industries, which expands its market. The nitromethane market is anticipated to be driven by its expanding application in the pharmaceutical and agricultural sectors, along with the automotive industry.
- In dry cleaning, degreasing processes, and semiconductor processing, nitromethane is used to stabilise chlorinated solvents. It is also used as a dissolving agent or solvent for acrylate monomers, which are then used to make adhesives. During the projected period, this factor is likely to fuel the global market for nitromethane.
- The most basic organic nitro chemical, nitromethane is a polar liquid that is largely utilised as a solvent in a range of industrial applications, including extractions, as a reaction medium, and as a cleaning solvent. It is frequently employed in the production of medications, insecticides, explosives, fibres, and coatings as an intermediate in organic synthesis.
Global Nitromethane Market Analysis
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Based on application, the market is segmented into explosive, chemical intermediate, solvent, and fuel and fuel additives, among others. The regional markets for nitromethane can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global nitromethane market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Linyi Yuanbo Chemical Co., Ltd.
- Angus Chemical Company
- Wujiang Bolin Industry Co., Ltd.
- Vizag Chemical International
- Others
Market Share by Application
As nitromethane burns more slowly than gasoline, it is often utilised as a fuel additive in a variety of motorsports and pastimes, such as Top Fuel drag racing and miniature internal combustion engines in radio-controlled and free-flight model aircrafts. Methanol is often used to dilute nitromethane before usage. The primary benefit of nitromethane is that it is less energetic than gasoline and generates significantly more power from each explosion inside the engine. Compared to gasoline, it requires a substantially smaller volume of air for combustion, allowing more nitromethane fuel to be burned with each engine stroke, resulting in high engine output. This is aiding the nitromethane market growth. Similar to trinitrotoluene (TNT), nitromethane is also used as a controlled explosive in a variety of sectors.
Market Share by Region
Asia Pacific is anticipated to hold a significant market share for nitromethane during the forecast period. This can be attributed to the expansion of the automobile sector and rising regional demand for pharmaceutical goods. China is a leading manufacturer of chemicals, paints, coatings, and pharmaceuticals in the Asia Pacific. In the forecast period, this factor is anticipated to drive the nitromethane market in the region. Asia Pacific is projected to be a significant region for nitromethane due to the growing need for medicinal, chemical, and agricultural products.
In the coming years, the nitromethane market will likely be particularly lucrative in Latin America, and the Middle East and Africa. Several businesses have industrial centres in these nations. Opportunities in the Latin America region for nitromethane during the forecast period are likely to result from the economic growth of these nations.
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Competitive Landscape
Linyi Yuanbo Chemical Co., Ltd., a rapidly expanding high-tech chemical company, was founded in 2006 and specialises in the production and distribution of fine chemicals and pharmaceutical raw materials. The company currently has a supply capacity of 100,000 tonnes per year for Dimethyl suffate, while nitromethane production capacity is of 6,000 tonnes per year.
Angus Chemical Company, headquartered in Illinois in the United States, is a leader in speciality chemistry and is committed to enhancing quality of life by providing products and knowledge to the most vital sectors of the global economy. The company, which was established in 1940, manufactures chemicals for use in paints, water treatment, solvents, metalworking, wood, fuel, and other applications.
Wujiang Bolin Industry Co., Ltd. are the manufacturers of sulfonamides, pharmaceutical intermediates, and other chemical goods. The business is based in China and was established in 1997. The main products of the company include Thioctic acid, nitromethane, 4-toluenesulfonyl chloride, 4-toluenesulfonyl chloride, hydroxylamine hydrochloride, and chlorosulfonic acid. The company’s products are of export standards, with destination regions including Southeast Asia, North America, and Europe.
Other market players include Vizag Chemical International, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Nitromethane Market Analysis
8.1 Key Industry Highlights
8.2 Global Nitromethane Historical Market (2018-2023)
8.3 Global Nitromethane Market Forecast (2024-2032)
8.4 Global Nitromethane Market by Application
8.4.1 Explosive
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Chemical Intermediate
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Solvent
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Fuel and Fuel Additives
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Nitromethane Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
9 North America Nitromethane Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Nitromethane Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Nitromethane Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Nitromethane Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Nitromethane Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Linyi Yuanbo Chemical Co., Ltd.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Angus Chemical Company
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Wujiang Bolin Industry Co., Ltd.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Vizag Chemical International
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Nitromethane Market: Key Industry Highlights, 2018 and 2032
2. Global Nitromethane Historical Market: Breakup by Grade (USD Million), 2018-2023
3. Global Nitromethane Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. Global Nitromethane Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Nitromethane Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Nitromethane Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Nitromethane Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Nitromethane Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Nitromethane Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Nitromethane Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Nitromethane Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Nitromethane Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Nitromethane Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Nitromethane Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Nitromethane Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Nitromethane Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Nitromethane Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Nitromethane Market Structure
Key Questions Answered in the Report
The market for nitromethane is projected to grow at a CAGR of 5.20% between 2024 and 2032.
The major drivers of the nitromethane market include the use of nitromethane as fuel additive in hobby cars, boats, and model engines, rising demand for agricultural, chemical products, growing use as a solvent in a variety of industrial applications, and increasing use for degreasing and dry cleaning.
The rapid growth of the automotive industry and rise in demand for pharmaceutical products are the key industry trends propelling the growth of the market.
The major applications of nitromethane are explosives, chemical intermediates, solvents, and fuel and fuel additives, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the industry are Linyi Yuanbo Chemical Co., Ltd., Angus Chemical Company, Wujiang Bolin Industry Co., Ltd., and Vizag Chemical International, among others.
Nitromethane is an oily, colourless liquid with a faintly unpleasant or fruity smell. It is highly flammable due to which precautions need to be taken during handling.
Fuel and nitro don't mix; instead, they separate, with the fuel rising to the top. However, nitropropane (C3H7NO2) can be blended with gas, and even 10% nitropropane in gas can result in modest power gains.
Using nitromethane as a fuel in a vehicle not designed to be compatible with the material can result in severely damaging the engine of the vehicle.
Nitromethane is considered toxic, and high level exposure can result in difficulty breathing and collapse, even resulting in fatalities.
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