Overview. Potassium nitrate, also known as saltpeter, is an odorless powder composed of transparent and/or white crystals. It is prepared commercially for use in a number of products, including gunpowder, fireworks, matches, rocket propellants, ceramics, glass and fertilizers.ire. While potassium nitrate itself is not combustible, it is considered to be a strong oxidizer, meaning that it releases oxygen when it breaks down, or decomposes. This oxygen release greatly enhances the flammability of other materials.
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