Nitromethane Market Report 2024, Industry Trends, Growth, Size and Forecast Till 2032
The latest report by IMARC Group, titled “ Nitromethane Market Report by Purity (>99%, <99%), Application (Explosive, Chemical Intermediate, Solvent, Fuel and Fuel Additives, and Others), and Region 2024-2032 “, The global nitromethane market size reached US$ 210.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 335.7 Million by 2032, exhibiting a growth rate (CAGR) of 5.31% during 2024-2032. Factors Affecting the Growth of the Nitromethane Industry: Rising Demand from Explosives Industry: One of the primary drivers of the nitromethane market is the explosives industry, which relies heavily on this chemical compound. Nitromethane's explosive properties make it a vital ingredient in the production of high-performance explosives used in diverse applications. In the mining sector, nitromethane is used to create controlled explosions for excavation and ore extraction. Similarly, in construction, it plays a crucial role in demoli...