Picric Acid Market - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026
Picric acid, also known as TNT i.e. tri nitro phenol, is mainly used for manufacturing explosives, medicines, and dyes. Picric acid in its pure form and also in its metallic structure form can be used as an explosive. It is used as a booster for other explosives and rocket fuels. In the healthcare industry, it is used to cure mental exhaustion, spinal cord degenerative condition, burn out or exhaustion, and also hackneyed minds. Dyes in which picric acid are used are highly preferred in the textile industry. Final products in which dyes being used are plastic, paint, printing ink, rubber, cosmetics, etc.
Picric acid is generally stored in an environment with 10% moisture content. This is due to the fact that it explodes when it comes in contact with metal surface since it is usually stored in metal containers. In heating conditions, it forms toxic oxides of carbon and nitrogen, which are hazardous to the human body. According to ACGIH, if picric acid is ingested or inhaled by any person in quantities more than 1-2gms, it may lead to severe poisoning. It is a strong acid among all derivative acids of phenol. However, it is also corrosive and strong irritant.
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Dry and dehydrated picric acid is odorless and yellow colored crystals. It is highly unstable and is used as a high powered explosive. Wet picric acid is slightly less reactive but is unstable and is used in other end-use industries.
The pyrotechnic ability of picric acid allows it to be utilized in explosives. Also, the antiseptic and astringent properties make it a crucial part of pharmaceutical industry. It is also used in the textile industry, as a yellow dye. Moreover, its toxic nature is an advantage while in the form of pesticide. Picric acid finds significant application as an etching agent of magnesium alloys as well.
Picric Acid Market Outlook
Asia Pacific is the largest and fastest growing region in the global picric acid market. This is due to the high number of end-use segments in India and China. The pharmaceutical, agriculture, and textile industries are witnessing rapid growth in this region. Additionally, growing tensions in South East Asia, has led to arms procurement, which boosts the picric acid market growth.
North America and Europe dominate the arms manufacturing industry.. The increased armament of countries all around the world has led to an arms industry revival, boosting picric acid market as well.
In Latin America, the emergence of Brazil, Argentina, and Mexico as major markets in end-user industries has resulted in market growth. Moreover, increasing agricultural land by logging of Amazon rainforest has resulted in use of picric acid and its derivatives as pesticides.
The Middle East and Africa has witnessed substantial growth in the pharmaceutical industry. With increased medical aid to Africa from the western world, use of antiseptic medicines has grown in this region, resulting in picric acid market growth.
Some of the key companies identified across the value chain of global picric acid market are Chemtura, Innospec, BASF, Shell, DOW, GE, Nalco, Afton, Baker Hughes, Chemours and Biobor.
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