Picric Acid Market Analysis

Applications (Explosives & Munitions, Chemical Intermediates, Antiseptics, Energetic Materials, Liquefied Gas Fuels, Thin Films, Power Generation)

The global picric acid market is segmented and analyzed for demand and supply by applications into explosives & munitions, chemical intermediates, antiseptics, energetic materials, liquefied gas fuels, thin films, power generation, and others. Of these segments, the power generation sub-segment is expected to flourish over the forecast period owing to the greater demand for electricity to cater to a booming population worldwide. It is predicted by the UN that the global population is set to increase by about a billion to reach 9.8 billion by the end of 2050, which is anticipated to impact the global picric acid market. Also, the presence of power generation plants all over the world along with the escalation in the production rate of electricity generation are other growth factors for segment expansion. On the other hand, the explosives & munitions segment is also attributed to garnering a significant share of the market with a noteworthy CAGR. Picric acid when comes with any kind of metals such as copper, lead, mercury, zinc, nickel, and iron forms salts that are sensitive explosives. Thus, owing to the varied usages of explosive properties in mining chemicals industry, picric acid is in high demand for manufacturing explosives and munitions. Also, explosives are also being heavily used in the defense and aerospace sectors for military purposes, hence, generating a need for picric acid.

Type (Dry, Wet)

The global picric acid market is also segmented and analyzed for demand and supply by type into dry picric acid and wet picric acid. Out of these, the wet picric acid segment is considered to hold the largest share of the market. As wetted picric acid is helpful in lowering the risk of detonation making it useful for usage in multiple industries including defense, mining, pharmaceutical, and others. Also, wet picric acid is easily accessible in the market at a low cost, and added efficaciously are other factors that are estimated to boost market growth during the analysis period.

Our in-depth analysis of the global market includes the following segments: