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The global nitric acid market is slated to experience an increased demand from several end-use industries across the globe. The market is characterized by the presence of players who are constantly on the lookout for a greater market share. The production of nitric acid is an important component for market players within the industry, and hence, these players are concentrating on making their production process efficient and swift. This is expected to optimize their profit margins and offer growth opportunities.
End-use industries such as cosmetics and pharmaceutical have been benefitting from moisturizing, anti-fungal, and anti-inflammatory properties of castor oil. The castor oil market is prospering on the back of the large purported medicinal value of the oil that drives in demand in wide range of medicinal use, notes Transparency Market Research (TMR).
The global laser displacement sensor market is benefiting from the rising trend of industrial automation which is receiving government support in several parts of the world. This is leading laser displacement sensors to find applications across high-value areas such as robotics, machine tools, and material handling among others.