Ferric nitrate is the chemical compound with the formula Fe(NO3)3. Ferric nitrate is a violet-colored, crystalline solid. Ferric nitrate is a noncombustible and oxidizing agent. When mixed with hydrocarbons, nitrate compounds can form a flammable mixture. Prolonged exposure of ferric nitrate to fire or heat may result in an explosion. Ferric Nitrate is used for dyeing and tanning, in chemical analysis, and in medicines. It is used by jewelers and metal smiths to etch silver and silver alloys. Ferric nitrate is a toxic compound known to cause methemoglobinemia.
Global Ferric Nitrate Market: Trends & Developments
Rising adoption of ferric nitrate in agricultural applications is one of the major trends likely to be witnessed in the global ferric nitrate market. Ferric nitrate solution is a clear, reddish-brown liquid, which is produced by using high-quality iron. Ferric nitrate can be used to correct iron deficiencies in soils and plants. It is also compatible with several liquid fertilizers, micronutrients, pesticides, and water. Growth of the pharmaceutical industry led by the increasing prevalence of diseases is likely to drive the global ferric nitrate market during the forecast period. Ferric nitrate is used in the production of various medicines.
Global Ferric Nitrate Market: Segmentation
Based on type, the global ferric nitrate market can be segmented into laboratory grade and industrial grade. Laboratory-grade ferric nitrate is usually used in clinics, educational laboratories, scientific laboratories, etc. Industrial-grade ferric nitrate is employed in the manufacture of industrial chemicals, which are frequently used in various pharmaceutical and agricultural applications. In terms of application, the global ferric nitrate market can be classified into catalyzer, analytical reagent, and chemical polishing. Ferric nitrate acts as a catalyst in the synthesis of sodium amide from the solution of sodium in ammonia. Ferric nitrate is a deliquescent chemical compound that forms colorless or light-purple-colored crystals. Ferric nitrate solution is used in the manufacture of catalysts. Ferric nitrate is also applied in various processes in photography.
Global Ferric Nitrate Market: Regional Outlook
Based on region, the global ferric nitrate market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific was the leading region of the global ferric nitrate market in 2017. China is expected to lead the market in Asia Pacific in the near future, in terms of consumption of ferric nitrate, due to growth of the pharmaceutical industry in the country. The ferric nitrate market in Latin America is estimated to expand at a steady pace during the forecast period. In terms of consumption of ferric nitrate, North America followed Asia Pacific in 2017. The market in North America is likely to expand at a moderate pace in the near future. The pharmaceutical industry in the U.S. is projected to continue to witness significant growth. This is likely to drive the ferric nitrate market in the country from 2018 to 2026.
Global Ferric Nitrate Market: Key Players
Key players operating in the global ferric nitrate market include BASF SE, Pencco, Inc., Sigma-Aldrich, Alfa Aesar, and Merck KGaA.
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