USD 106.1 million
Sodium Nitrate Market Size, Share, Growth Analysis, By Application(Rubber processing, food processing, pharmaceutical, fertilizer.), By Grade(Industrial grade, food grade), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2283 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Sodium Nitrate Market Insights
Sodium Nitrate Market size was valued at USD 106.1 million in 2019 and is poised to grow from USD 112.34 million in 2023 to USD 167.7 million by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).
Sodium nitrate is a fine, crystalline white or yellow powder and is a kind of salt that has long been used to preserve foods especially meat and fish. It helps preserve the colour of cured meat. Sodium nitrate can be found in plants and unregulated drinking water. Nitrogen is turned into sodium nitrate in soil and is necessary for plant growth. Sodium nitrate is an inorganic compound and it is soluble in water.
Large amounts of sodium nitrate cause fires or explosions when the combustible material is finely divided. Sodium nitrate has numerous applications, including solid propellants, explosives, and chemical fertilizers. It also finds important applications in several industrial-scale reactions for the production of chemical fertilizers, pyrotechnics and smoke bombs, glass and pottery enamels, food preservatives, and solid rocket propellants.
In cured meats and poultry, sodium nitrate is also used as a color fixative. It is used as an oxidizer in fireworks, replacing potassium nitrate, which is commonly found in black powder, and as a component in instant cold packs. For heat storage and, more recently, heat transfer applications in solar power plants, sodium nitrate is combined with potassium nitrate and calcium nitrate. In prototype plants such as the Andasol Solar Power Station and the Archimedes projects, a mixture of sodium nitrate, calcium nitrate, and potassium nitrate is used as an energy-storage material.
In addition, sodium nitrate is used in wastewater treatment processes for facultative microorganism respiration. Nitrosomonas, a genus of microorganisms, preferentially consumes sodium nitrate over oxygen, allowing it to grow more quickly in the wastewater to be treated.
US Sodium Nitrate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
food grade based
Fastest Growth
food grade based
Growth Rate
5.9% CAGR
Global Sodium Nitrate Market ($ Mn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Sodium Nitrate Market Segmental Analysis
The sodium nitrate market is segmented into various segments based on application, grade, and region. Based on application, the sodium nitrate Sodium Nitrate Market is segmented into rubber processing, food processing, pharmaceutical, fertilizer, and others. Based on grade, the sodium nitrate market is segmented into industrial grade and food grade based. Based on region, the Sodium Nitrate Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
Sodium Nitrate Market Analysis by Application
Global sodium nitrite market has been divided into rubber processing, food processing, pharmaceutical, fertilizer, and others. The segment growth is mainly attributed to the increasing demand to inhibit the growth of bacterial spores causing botulism.
Sodium Nitrate Market Analysis by Grade
Global sodium nitrate market is bifurcated into industrial grade and food grade based on grade. The food grade segment is projected to grow substantially over the forecasted timeframe. The increase product demand from the food industry. The industrial grade is also expected to grow at the fastest CAGR. This is due to the fact that sodium nitrate being inexpensive, non-toxic, and non-poisonous.
Global Sodium Nitrate Market By Grade
To get detailed analysis on other segments, Request For Free Sample Report
Sodium Nitrate Market Regional Insights
Global sodium nitrate market is divided into regions included North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
In 2021, the North American region dominated the global sodium nitrite market. The regional market expansion is primarily attributed to the region's growing preference for ready-to-eat food products. Furthermore, the high meat demand in the United States is expected to boost market growth over the assessment period. According to the US Department of Agriculture (USDA), per capita retail weight consumption of poultry and red meat was 222.4 pounds.
In terms of revenue, Asia Pacific is anticipated to be the fastest-growing region over the forecast period. The region has been a cumulation of the largest agrarian countries including China, Japan, India, and other agricultural-based economies. The growing population and rising consumer disposable income levels are expected to continue to drive the demand for agriculture commodities, thereby supporting the growth of the regional market. The sodium nitrate market in Asia Pacific is expected to be the most promising for players during the forecast period, owing to various factors such as developing healthcare facilities, growing chemicals, plastic & rubber and paint & coating industries and the increasing use of sodium nitrate in pharmaceutical & healthcare industries.
Global Sodium Nitrate Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Sodium Nitrate Market Dynamics
Sodium Nitrate Market Driver
- Rise in the number of surgeries, increase in prevalence of cardiovascular diseases and cancer, and growth in geriatric & preterm infant population drive the global sodium nitrate market.
- The growing awareness across the developing economies such as Argentina, India, China, and Brazil are also projected to boost the market growth in the coming years.
- Rapid changes in consumers tastes, preferences and changing lifestyles will likely offer growth of the market
- To improve soil productivity and efficiency, which is a major market driver, farmers can use liquid fertilizers.
Sodium Nitrate Market Restraint
- Uncontrolled intake of sodium nitrate can cause several health issues such as colorectal cancer, pancreatic, stomach, oesophageal, thyroid cancers, and heart disease.
- Fluctuations in raw material prices and implementation of stringent trade regulations around the world are also hampering sodium nitrate market growth. The price of sodium nitrite is affected by fluctuations in crude oil prices. The trade war between global economies such as Japan and South Korea, China and the United States, and others has negatively impacted the global trade of sodium nitrite.
Request Free Customization of this report to help us to meet your business objectives.
Sodium Nitrate Market Competitive Landscape
Most of the players in the market are focusing on differentiating themselves from other players as the market is highly competitive and concentrated. Manufacturers are focusing on increasing their production capacities to meet the growing demand. Some of the organisation sell their products directly through website to gain more profits.
Top Players in the Global Sodium Nitrate Market
- SQM (Chile)
- Nitrochemie (Germany)
- Rashtriya Chemicals and Fertilizers (India)
- Shandong Haihua Group Co., Ltd. (China)
- BASF SE (Germany)
- Liuzhou Chemical Industry Co., Ltd. (China)
- Sasol Nitro (South Africa)
- Sumitomo Chemical Co., Ltd. (Japan)
- Shandong Xinlong Group Co., Ltd. (China)
- Ciner Resources Corporation (US)
- Sichuan Nitrocell Corporation (China)
- UBE Industries, Ltd. (Japan)
- Hualong Ammonium Nitrate Co., Ltd. (China)
- Rashtriya Chemicals & Fertilizers Ltd. (India)
- Shanxi Jiaocheng Hongxing Chemicals Co., Ltd. (China)
- Jiangsu Huaihe Chemicals Co., Ltd. (China)
- Hangzhou Xinlong Chemical Co., Ltd. (China)
- Hongcheng Chemicals (China)
- Shandong Hualu-Hengsheng Chemical Co., Ltd. (China)
- Hebei Dongfang Chemical Co., Ltd. (China)
Sodium Nitrate Market Recent Developments
- Liquid fertilizers sales have been expanding significantly, and long-term projections indicate that this trend will continue. The liquid fertilizers segment is driven by increased demand for high efficiency fertilizers, ease of use, adoption of sustainable agriculture practices and rising environmental safety.
- By utilizing fertilaquas sizable market presence and distribution capabilities, the company anticipates increasing sales of liquid fertilizers.
Sodium Nitrate Key Market Trends
- Sodium nitrate is an important part of the textile industry. It is used for production of diazo dyes. The textile industry is anticipated to grow at a steady pace over the next few years.
- The most common market usage of sodium nitrate would be in the food processing industry, as an additive to meat products instead of salt.
- The action of both salt and sodium nitrate is to prevent microbial growth in meat products.
- The high demand of from fertilizers end use segment due to the increasing demand for food is expected to drive the market over the forecast period.
Sodium Nitrate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the market is anticipated to be driven by the growth of fertilizers product in the agriculture industry. Sodium nitrate-based fertilizers are used widely due to their ability to provide necessary nitrogen nutrients to the crops. These fertilizers are considered favourable for crops like wheat, soyabean, sugarcane and corn. The product is also used in food industry as a food preservative. Sodium nitrate is segmented to grade and application. In terms of revenue, Asia pacific is the expected to be the fastest growing region over the forecast period. Most of the players are focusing on increasing their production capacities to meet the growing demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 106.1 million |
| Market size value in 2031 | USD 167.7 million |
| Growth Rate | 5.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sodium Nitrate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sodium Nitrate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sodium Nitrate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sodium Nitrate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sodium Nitrate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sodium Nitrate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
