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Sodium Nitrate Market Leading Companies Outlook, Segments Insights, Competitive Landscape, Upcoming Challenges & Growth Prospects

Sodium Nitrate Industry Overview

The global sodium nitrate market size was valued at USD 95.8 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.

The market is anticipated to be driven by the growth of fertilizers products in the agriculture industry. The market is largely dependent on the trends of its application industries. The high demand from fertilizers end-use segment due to the increasing demand for food is expected to drive the market over the forecast period. Sodium nitrate-based fertilizers are used widely due to their ability to provide necessary nitrogen nutrients to the crops. These fertilizers are considered favorable for crops like wheat, soybeans, sugarcane, and corn. Apart from fertilizers, the product is also used in the food industry as a preservative.

Gather more insights about the market drivers, restrains and growth of the Global Sodium Nitrate Market

Nitric acid is subject to intense price and supply volatility in the global sodium nitrate market as it is manufactured from ammonia and nitrogen dioxide. Fluctuations in the price and demand/supply of the aforementioned raw materials are expected to hamper the prices of sodium nitrate over the forecast period. 

The spread of the COVID-19 virus has crippled economies across the globe and severely impacted the supply chains across industries. The production and consumption of sodium nitrate are highly influenced by its demand from end-use industries. However, chemicals present in fertilizers additives and fertilizers can also have an adverse impact on groundwater and water, which is used for drinking and can lead to various diseases. The blue baby syndrome is one such disease that affects infants caused by water contaminated with nitrate. Sodium nitrate is mainly manufactured using nitric acid with soda ash.

Browse through Grand View Research’s Agrochemicals & Fertilizers Industry Research Reports.

  • Nitric Acid Market – The global nitric acid market size was valued at USD 29.2 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 2.3% from 2022 to 2030. The growth for the product is expected to be driven by increasing demand for the product from fertilizers formulators and by the rising consumption of fertilizers in agrarian economies of the world.
  • Construction Chemicals Market – The global construction chemicals market size to be valued at USD 67.61 billion by 2024 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% during the forecast period. Growing infrastructural developments and rising demand, especially from Asia Pacific region, will propel the market growth in the coming years.

Sodium Nitrate Market Segmentation

Grand View Research has segmented the global sodium nitrate market on the basis of grade, application, and region:

Sodium Nitrate Grade Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)

  • Industrial
  • Pharmaceutical
  • Food

Sodium Nitrate Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)

  • Chemicals
  • Fertilizers
  • Explosives
  • Glass
  • Pharmaceuticals
  • Food & Beverages
  • Others

Sodium Nitrate Region Outlook (Volume, Tons; Revenue, USD Thousand, 2017 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Companies profiled:

Some prominent players in the global sodium nitrate market include

  • Deepak Nitrite Ltd.
  • BASF SE
  • SQM
  • Weifang Haiye Chemistry & Industry Co.
  • ACF Nitratos S.A.
  • Shijiazhuang Fengshan Chemical Co., Ltd.
  • Quality Chemicals S.L.

Order a free sample PDF of the Sodium Nitrate Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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