Australia Nitric Acid Market PPT

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2. AUSTRALIA NITRIC ACID MARKET ANALYSIS • Australia Nitric Acid Market, By Product Type (Fuming, Non-Fuming), By Grade (Commercial, Specialty), By End-use(Explosives, Fertilizers, and Others), and By Regions (Western Australia, Queensland, New South Wales, Victoria Rest of Australia) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Australia Nitric Acid Market - Insights Nitric acid is fuming, colorless, and highly corrosive liquid that is widely used across various Industries. It is highly toxic in nature and cause severe burn injury. They are primarily used in the production of fertilizers such as nitro-phosphate, ammonium nitrate, and ammonium phosphate. The Nitric Acid market in Australia is estimated to account for US$ 843.4 Mn in terms of value and 2152.8 Thousand Tons in terms of volume by the end of 2018 Drivers: Growing demand of nitric acid for the production of ammonium nitrate, which is widely used as explosives in the mining industry is primarily fueling the market growth of nitric acid. Growing demand for fertilizers in the agriculture industry coupled with expanding chemical industry is further expected to boost the market growth of the nitric acid. Moreover, increasing mining exploration activities is also expected to augment the market growth of nitric acid Western Australian region dominated the global Nitric Acid market in 2018, accounting for 33.1% share in terms of volume, followed by New South Wales, Queensland and Victoria

4. Figure 1. Australia Nitric Acid Volume Market Share (%), By Region, 2018

5. Market Restraints Increasing focus of government towards the production of substitute of ammonium nitrate explosives in mining industry is expected to hamper the market growth of nitric acid. Environmental concern associated with the use of ammonium nitrate as it releases various toxic gases upon explosion which can cause serious health and environmental issues is further projected to curb the market growth of nitric acid.  Market Opportunities Increasing usage of nitric acid in the metal refining process of separating precious metal from metalliferous materials by dissolving metalliferous materials using hydrolysis process in nitric acid solution is expected to offer as an immense growth opportunity to the market growth. Rising replacing of chlorine with nitric acid across various countries in precious metal refining process as chlorine is highly toxic in nature is another major factor to boost the market growth of nitric acid. For instance, According to the World Gold Council, around 3,924 ton of gold was refined in 2014 around the globe. Australia accounts for over 15% share in world economic gold sources and is the second-largest producer of gold, accounting for nearly 10% of overall global gold output.

6. Figure 2. Australia Nitric Acid Market - Opportunity Analysis Market Trends/ Key Takeaways Increasing focus of manufacturer on expanding the existing production facilities of the ammonium nitrates in order to cater to rising demand for ammonium nitrate from mining industry is one of the major trend that has been observed in the market. For instance, CBSP Limited is an Australia-based manufacture of ammonium nitrate.  In 2014, the company completed the commissioning of ammonium nitrate facility (260 kilotons). The associated nitric acid production capacity was 210 kilotons.

7. Figure 3. Nitric Acid Market - Value Chain Analysis Explosives application was valued at US$ 810.4 in 2018 and is forecast to reach a value of US$ 1609.2 by 2027 at a CAGR of 8.0 % between 2019 and 2027. Nitric Acid manufacturers also have integrated production facility for ammonium nitrate (AN) and explosive products in Australia.

8. Figure 4. Australia Nitric Acid Volume Market Share (%), By End-use, 2018

9. Competitive Section: • Company Profiles • Orica Limited • Wesfarmers Chemicals, Energy & Fertilisers • Incitec Pivot Ltd • Recent Developments • Incitec Pivot Ltd • The company engages in various fertilizer research and development program in conjunction with customers and farmers to enhance its product offering • In 2015, the company introduced TITAN 9000 high performance explosives emulsion range including Titan 9000xero technology which was aimed at reducing blast fumes • In the same year, the company also introucedEntec brand products which were aimed at minimizing  nitrogen losses to the  atmosphere and leaching

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