Sodium Nitrate Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Sodium Nitrate Market: By Grade (Industrial, Pharmaceutical, and Food), By Application (Chemicals, Fertilizers, Explosives, Glass, Pharmaceutical, Food & Beverages, and Others), and Geography

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Report

Description

The sodium nitrate market is valued at approximately USD 237.5 Million in 2021 and is predicted to exceed at a significant CAGR of 6.2 percent between 2022 and 2028. The demand for sodium nitrate from end-use industries significantly impacts its production and consumption. However, chemicals found in fertilizer additions and fertilizers can have a negative impact on groundwater and drinking water, resulting in a variety of ailments. The rise of fertilizer products in the agriculture industry is expected to drive the market, and the trends heavily influence the market in its target industries. The market is likely to be driven by increased demand from the fertilizers end-use segment due to rising food consumption throughout the forecast period. Because of their ability to give vital nitrogen nutrients to sodium nitrate-based fertilizers, crops are frequently employed. The fertilizer application segment dominated the market in terms of revenue in 2020, accounting for the most significant proportion. This large percentage can be ascribed to the expanding global need for fertilizers due to increased food production. Food demand has risen as the world’s population has grown.

Recent Market Developments:

In April 2020, Ube Industries, Ltd. announced that the company’s Board of Directors resolved to implement a merger by absorption of its wholly-owned subsidiary, Ube Ammonia Industry, Ltd., which will take effect on October 1, 2020. Details of the merger are below. Since the merger is a simplified and short-form merger between Ube Industries and its wholly-owned subsidiary, some items and details of the merger have not been disclosed.

Sodium Nitrate Market

MARKET SUMMARY
-
6.2% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 6.2%
  • Largest Market– North-America
  • Fastest Growing Market– Asia-Pacific

Sodium Nitrate Market

  • The sodium nitrate market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The sodium nitrate market is segmented based on grade, application, and geography.
Key Players
  • Anmol Chemicals
  • UBE Corporation
  • American Elements
  • Aldebaran Sistemas
  • SINOY GROUP LIMITED
Sodium Nitrate Market

Dynamics

The constantly expanding food and beverage industry has increased the demand for food preservatives. Processed food preservation has become more important in recent years, and sodium nitrate is increasingly being employed as a preservative in processed meats. Uncontrolled intake of sodium nitrate can cause several health issues such as colorectal cancer, pancreatic, stomach, oesophageal, thyroid cancers, heart disease, etc. These side effects are associated with the overconsumption of sodium nitrate and are anticipated to impede the market’s growth.


Asia-Pacific Got Significant Share

Sodium Nitrate Market

The sodium nitrate market in the Asia Pacific is expected to grow rapidly due to rising consumer disposable income and population increase. Rapid development in nations like China, India, and Japan has raised the demand for sodium nitrate. North America and Europe also represent a substantial share of the global sodium nitrate market owing to the growth in the requirement of sodium nitrate in the food and agriculture industries.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The sodium nitrate market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Sodium Nitrate Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The CAGR of the sodium nitrate market is 6.2% over the forecast period (2022 – 2028)

 

 

 

 

 

The Deepak Group, Airedale Chemical Company, Anmol Chemicals, UBE Corporation

 

The Asia Pacific is the fastest-growing region for the sodium nitrate market


Report

Company Profile

  • Hach
  • BASF SE
  • Alfa Aesar
  • The Deepak Group
  • Anmol Chemicals
  • UBE Corporation
  • American Elements
  • Aldebaran Sistemas
  • SINOY GROUP LIMITED
  • Sumitomo Chemical Co. Ltd.
  • Radiant Indus Chem Pvt. Ltd
  • Airedale Chemical Company

Description

The sodium nitrate market is valued at approximately USD 237.5 Million in 2021 and is predicted to exceed at a significant CAGR of 6.2 percent between 2022 and 2028. The demand for sodium nitrate from end-use industries significantly impacts its production and consumption. However, chemicals found in fertilizer additions and fertilizers can have a negative impact on groundwater and drinking water, resulting in a variety of ailments. The rise of fertilizer products in the agriculture industry is expected to drive the market, and the trends heavily influence the market in its target industries. The market is likely to be driven by increased demand from the fertilizers end-use segment due to rising food consumption throughout the forecast period. Because of their ability to give vital nitrogen nutrients to sodium nitrate-based fertilizers, crops are frequently employed. The fertilizer application segment dominated the market in terms of revenue in 2020, accounting for the most significant proportion. This large percentage can be ascribed to the expanding global need for fertilizers due to increased food production. Food demand has risen as the world’s population has grown.

Recent Market Developments:

In April 2020, Ube Industries, Ltd. announced that the company’s Board of Directors resolved to implement a merger by absorption of its wholly-owned subsidiary, Ube Ammonia Industry, Ltd., which will take effect on October 1, 2020. Details of the merger are below. Since the merger is a simplified and short-form merger between Ube Industries and its wholly-owned subsidiary, some items and details of the merger have not been disclosed.

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