October 27, 2021

Impact of Covid-19 on Nitromethane Market

3 min read

Nitromethane Market: Overview

  • The global nitromethane market is expected to expand at a rapid pace during the forecast period, due to the increasing demand for nitromethane in various industries such as automotive, pharmaceuticals, and explosives. Growth of the pharmaceuticals industry in countries in Asia Pacific, such as India, Taiwan, and Thailand, has opened new avenues for the nitromethane market.
  • Nitromethane is the simplest organic nitro compound and polar liquid, which is primarily used as a solvent in a variety of industrial applications such as in extractions, as a reaction medium, and as a cleaning solvent. As an intermediate in organic synthesis, it is used widely in the manufacture of pharmaceuticals, pesticides, explosives, fibers, and coatings.

Key Drivers of Global Nitromethane Market

  • Nitromethane is used for degreasing, dry cleaning, and semiconductor processing applications, where it is utilized as a stabilizer of chlorinated solvents; it is also used as a dissolving agent or solvent for acrylate monomers which in turn is used for the production of adhesives. This factor is likely to drive the global nitromethane market during the forecast period.
  • Nitromethane is the substitute for gasoline in high performance motorsports, such as drag racing, and even in rockets, as it does not burn as quickly as gasoline. It requires significantly lower volume of air for combustion compared to gasoline, which allows more nitromethane fuel to be burnt per engine stroke, thus producing high engine power. The big advantage of nitromethane is that a lot more power from each explosion is derived inside the engine, and it is also less energetic than gasoline.

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Chemical Intermediate Application Segment to Witness Immense Opportunities

  • In terms of value and volume, the chemical intermediate segment is estimated to accoun
  • t for a significant share of the global nitromethane market during the forecast period.  Nitromethane is widely used as a chemical intermediate in the synthesis of biocides, chemicals, and agricultural products and intermediates.
  • Nitromethane is also used as a fuel or fuel additive in hobby cars, boats, and model engines for which nitromethane is typically diluted with methanol.
  • Nitromethane is used as a fuel additive in various motorsports and hobbies, e.g. Top Fuel drag racing and miniature internal combustion engines in radio control, and free flight model aircraft. Nitromethane also finds application as a controlled explosive in various industries, similar to Trinitrotoluene (TNT).

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Asia Pacific to Hold a Major Share of Global Nitromethane Market

  • In terms of both value and volume, Asia Pacific accounted for a significant share of the global nitromethane market in 2018. It is anticipated to continue its dominance throughout the forecast period, due to growth of the automotive industry and rise in demand for pharmaceutical products in the region. China is the leading producer of chemicals, paints, coatings, and medicines in Asia Pacific. This factor is expected to drive the nitromethane market in the country during the forecast period.
  • North America and Europe also constitute a considerable share of the global nitromethane market. The market in these regions is estimated to expand at a sluggish pace, due to implementation of stringent regulations on carbon emissions in these regions.
  • Brazil is a leading consumer of nitromethane in Latin America. It is projected to continue to be attractive during the forecast period, due to growth of the automotive industry in the country.
  • Latin America and Middle East & Africa are likely to be attractive regions of the global nitromethane market during the forecast period. Latin America comprises countries such as Brazil and Mexico, which are major manufacturers of paints and coatings in the world. The countries are also manufacturing hubs for numerous industries. Economic growth of these countries is likely to create opportunities for the nitromethane market in Latin America during the forecast period.

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Key Players Operating in Global Market

Key players operating in the global nitromethane market are:

  • ANGUS Chemical Company
  • Aceto Corporation
  • Greenchem Industries LLC
  • Wego Chemical & Mineral Corp
  • Linyi Yuanbo Chemical Co., Ltd
  • Zibo Xinglu Chemical Co., Ltd.
  • Wujiang Bolin Industry Co., Ltd.
  • Antera Agro Chem
  • CDH Fine Chemicals India
  • Others

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