Sodium Nitrate Market Application (Food & Beverages, Corrosion Inhibitors, Dyes & pigments, Pharmaceuticals, Others), By Grade (Industrial, Pharmaceuticals, Food), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) Global Forecast 2020 to 2030.

The size of the sodium nitrite market was estimated at USD 416.1 million in 2021 and is expected to increase at a compound annual growth rate (CAGR) of 4.2% from USD 418 million in 2022 to USD 580.7 million by 2030.

key factors that are inclining the growth of sodium nitrate market upwards is easy manufacturing process coupled with low cost when compared to other nitrogen-based fertilizers. The manufacturing process is derived from a single-step chemical reaction, from starting compound such as ammonium nitrate and nitric acid. Moreover, there is a recorded shift towards organic farming which will help sodium nitrate market gain traction during the forecast period. The motive behind higher adoption of organic farming is less energy requirements. Additionally, it has lesser adverse effects on environment as they don’t indulge the use of synthetic pesticides and herbicides. It’s also eco-friendly as it generates less carbon dioxide and require less nitrate fertilizers than conventional farming, which results in less production of nitrous oxide (formation of nitrous oxide is the major factor for acid rain).

Sodium nitrate is one of the essential element of renewable energy. With the rising energy consumption due to growing population, non-renewable resources are easily depleted. Thus, to satisfy growing population requirements, renewable energy has to be adopted. This is will result in reduced carbon emission and less depletion of natural resources.

terms of geography, the sodium nitrate market can be classified into Latin America, North America, Europe, Middle East & Africa, Asia Pacific and Europe. China and SEA & the rest of APAC is anticipated to expand at a rapid pace due to increasing demand for sodium nitrate applications across various domains along with growing population. The market growth is favorable in countries like dia, China and Japan due to the rapid industrialization along with growing population. Asia is most promising market owing to growing chemicals, plastic & rubber, healthcare, pharmaceutical and healthcare industry. North America and Europe (Germany, the U.K. and France) holds the next most prominent share of the global sodium nitrate market owing to higher demand for sodium nitrate in the food and agriculture industry.

Based on type, the market classifies into pharmaceutical grade, food grade, industrial grade and others. The industrial grade segment holds key share in global sodium nitrate market. Industrial grade sodium nitrate demand has grown up because of higher consumption of reprographic agents, photochemical products, metal casting and fertilizers. But, the obstacles that may occur in the market growth are excess use may lead to health concerns among consumers.

On the basis of end-use, the sodium nitrate market is classified into food construction chemicals, fertilizers, food additives, construction chemicals, pharmaceuticals, explosives, wastewater treatment, and others. Fertilizers sector has a substantial share in the global sodium nitrate market. These fertilizers are highly in demand due to their high solubility and biodegradability.

Companies who operate and dominate the sodium nitrate market include Dahua Group Dalian Guanlin International Trade Co., Ltd., Shandong Haihua Group Co., LTD, SQM (Sociedad Química y Minera), Liuzhou Chemical Industry Co., Ltd., Hangzhou Xinlong Chemical Co., Ltd., Rashtriya Chemicals and Fertilizers Limited, BASF SE and Sumitomo Chemical Co., Ltd.

Sodium Nitrate Market Scope

Key segments of ‘Global Sodium Nitrate Market’

Based on grade, the market has been segmented into,

• Industry grade sodium nitrate
• Food grade sodium nitrate
• Pharmaceutical grade sodium nitrate

Based on end-use industry, the market has been segmented into,

• Fertilizers
• Pharmaceutical & Healthcare
• Explosives
• Food & Beverage
• Others

Based on region, the market has been segmented into,

• North America
• Latin America
• Europe
• China
• Japan
• South East Asia (SEA) & Other Asia Pacific (APAC)
• Middle East & Africa