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The sodium nitrate market size is forecast to increase by USD 32.5 million at a CAGR of 4.65% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for fertilizers in agriculture. Sodium nitrate is a valuable additive element in the production of fertilizers for crops such as corn, wheat, and soybeans. In addition to its agricultural applications, sodium nitrate finds usage in the pyrotechnics industry as a non-toxic and non-poisonous substitute for black powder. Furthermore, the renewable energy sector is also utilizing sodium nitrate as a stabilizing agent. However, the market growth is being challenged by the deterioration of soil caused by the extensive use of chemical fertilizers. To mitigate this issue, researchers are exploring the potential of sodium nitrate as a sustainable alternative to chemical fertilizers.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Grade Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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