Global Nitromethane Market Was Valued 158.61 Million $ In 2018
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Nitromethane is a colorless, oily, highly flammable liquid with a strong, disagreeable odor that emits toxic fumes of nitrogen oxides upon decomposition. Nitromethane is used to make industrial antimicrobials and pharmaceuticals and is also used as a soil fumigant and as a fuel in race car engines. Exposure to nitromethane irritates the skin and affects the central nervous system causing nausea, dizziness and narcosis. This substance is reasonably anticipated to be a human carcinogen.
Nitromethane (chemical formula: CH3NO2) is the simplest organic nitro compound. At room temperature, it is a clear liquid with colorless oily shape and has the faint aromatic smell, with great polarity, flammable, toxic and explosive. It can be used as fuel and be mixed with ethanol, acetone, ether, as a good solvent and extraction agent. At the same time, nitromethane is also a common raw material in chemical industry and organic synthesis because of the strong activity of nitro -hydrogen.
In terms of revenue, the global Nitromethane market was valued 158.61 million $ in 2018, and is estimated to be worth 222.04 million $ by 2025. In terms of volume, the production of Nitromethane was about 48.64 K MT in 2018, and it is anticipated to reach 50.87 K MT by 2025.
Based on the product type, the Nitromethane is primarily split into 0.999 Grade, 0.995 Grade, and 0.99 Grade. The proportion of the first two classifications in market is 94.58% in 2018. Nitromethane is mainly used as a polar solvent, and can be intersoluble with many organic compounds. The market share of this kind of application is 62.55%. In addition, it is used as rocket fuel, gasoline additives and intermediates for organic synthesis.
China is the dominate producer of Nitromethane, the production was 48.64 K MT in 2018, accounting for about 60.72% of the total amount. Major manufacturers are distributed in China. such as Yuan Bo Chemical, Zibo Xinglu Chemical Factory, Hubei Grand Fuch, etc. As a consequence, the price of Nitromethane has increased dramatically since 2019. The price is forecasted to reduce in the coming years, as improvement of supply and demand structure.