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The sodium nitrate market is estimated to increase by USD 32.5 million and grow at a CAGR of 4.65% between 2023 and 2028. The growth of the market depends on several factors, including growing demand for fertilizers, an increase in demand for food preservatives, and a low-cost and easy manufacturing process. The market is seeing significant expansion, driven by increasing demand for fertilizers in agricultural industries globally. Sodium nitrate, recognized as one of the earliest nitrogen-rich fertilizers, offers vital nutrients necessary for strong plant growth. Its solubility in water makes it a potent oxidizer, improving soil nitrogen levels and promoting vigorous crop growth, especially in cereal crops such as sugarcane, corn, and wheat.
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The market share growth by the agriculture segment will be significant during the forecast period. Sodium nitrate is a widely used chemical fertilizer in the agriculture industry. It is an essential nutrient, which is responsible for the growth of plants.
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The agriculture segment was valued at USD 85.50 million in 2018 and continued to grow until 2022. As it is an essential nutrient to plants, its deficiency in the soil or the environment can adversely affect the growth of plants. It as a fertilizer fulfills the deficiency in the soil and helps in the growth and development of plants. The use as a fertilizer is most common during adverse environmental conditions, such as low rainfall, cold weather, and infertile soil. The nitrogen present in sodium nitrate can regulate soil acidity by acting as a neutralizer. Sodium nitrate fertilizer is effectively used for the production of tobacco, soybeans, vegetable crops, sugar beets, and many other crops that are grown in soil that is acidic in nature. It also helps in increasing crop yield and acts as a pesticide. Thus, owing to such factors the segment is expected to grow during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The use as a food preservative has increased in APAC, to meet the growing demand for food due to the rapid population growth in the region. This is one of the major reasons for the growth of the market in APAC. In addition, sodium nitrate (as a fertilizer) is one of the important components in the agriculture segment. China was the largest producer and consumer in 2022. The major demand in the country is for manufacturing fertilizers. Agriculture has been one of the major contributing factors to China's economy. Therefore, the use of fertilizers in agriculture will boost the demand in China. Therefore, the abovementioned factors will fuel the regional market during the forecast period.
Sodium nitrate is a vital chemical compound with significant applications in various industries, including fertilizers and explosives. In the agricultural sector, sodium nitrate serves as an essential additive element for enhancing crop production, particularly in the Indian agriculture sector, where it contributes to the growth of crops like sugarcane, ready-to-eat food, corn, and wheat. Sodium nitrate's non-toxic and non-poisonous properties make it a preferred choice for farmers. The explosives industry also utilizes sodium nitrate as a primary component due to its stability. In pyrotechnics, it functions as an oxidizer. Sodium nitrate's consumption extends beyond these industries, with its usage in glass manufacturing as well. Despite its widespread use, concerns regarding sodium nitrate's impact on groundwater and drinking water exist. Overuse or improper disposal can lead to diseases such as blue baby syndrome. The chemical industries must ensure responsible production and disposal practices to mitigate these risks. In terms of market size, the global market is substantial, with significant demand driven by the agricultural industry's cereal crop production. The market is measured in metric tons, and the agricultural land that utilizes sodium nitrate is vast. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing substantial growth due to the escalating demand for fertilizers in agricultural sectors worldwide. Sodium nitrate, renowned as one of the oldest known nitrogen-rich fertilizers, provides essential nutrients crucial for plant growth. Its water-soluble properties make it an effective oxidizer, enhancing soil nitrogen content and fostering healthy crop development, particularly in cereal crops like sugarcane, corn, and wheat.
As the global population burgeons, the imperative for increased agricultural production intensifies, driving the need for innovative methods to boost crop yields. Fertilizers play a pivotal role in meeting this demand, especially in regions like South Asia, Africa, and Latin America. Research and development efforts are focused on optimizing crop production techniques, further augmenting the market's trajectory. With its cost-effectiveness, non-toxic, and stable nature, sodium nitrate remains a cornerstone in the agricultural industry, ensuring sustained growth and productivity in crop cultivation worldwide. Hence, such factors are driving the market during the forecast period.
The use in the renewable energy segment is an emerging trend in the market. With the rise in energy consumption by the growing population, non-renewable energy resources are getting depleted day by day. Thus, adopting renewable energy is the only solution to meet future energy requirements. In terms of revenue, the solar energy market is expected to grow at a higher CAGR during the forecast period. It is going to play an important role in reducing carbon emissions. It will also help in the reduced depletion of natural resources.
Solar power plants generate electricity by converting heat energy into electric current. To use the heat generated by a solar power plant, the use of heat storage media is very important. A combination of potassium nitrate and sodium nitrate is used as thermal energy storage material. The heat storage system stores the heat through the transition of salts from one state to another. The ratio in which sodium nitrate is used in combination with potassium nitrate is 60:40. Thus, it is a major component of the thermal energy storage material. Hence, these factors will boost the growth of the global market during the forecast period.
Health hazards of excessive use of preservatives are major challenges impeding the market growth. It is used in preservatives as it prevents bacterial growth in products such as fish and meats. According to the American Medical Association, consuming it in high quantities can lead to a disorder called methemoglobinemia. People who consume preserved bacon, hot dogs, and other cured meat are more susceptible to diseases.
In addition, the salts present can cause a reaction in the body, which generates a chemical called nitrosamines. Nitrosamines increase the chances of gastrointestinal and brain cancer. Thus, because of the side effects and to stay healthier and fit, people are shifting their focus toward consuming fresh meat and vegetables. The global market is affected due to this, as sodium nitrate is widely used as a preservative in packaged food. Therefore, this may hamper the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AG Chemi Group s.r.o. - The company primarily offers chemicals, ceramics, refractory materials, detergents, fertilizers, mining fuels, automotive, construction, and explosives. The key offerings of the company include sodium nitrate for solid propellants, explosives, and fertilizers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The application industries for black powder and other chemicals span various sectors, including the explosive industry and fertilizer manufacturing industries. Food-grade sodium nitrate is used in food production, particularly in processed foods and ready-to-eat food products to enhance shelf life and maintain purity level. The Food & Agriculture Organization (FAO) and the World Bank emphasize the importance of arable land for growing food crops and supporting global food security. In the explosive manufacturing industries, black bombs and other industrial-grade activities require high-quality materials. Industrial-grade and food-grade segments of the market ensure that solvents, adhesives, drain cleaners, and heat transfer agents meet strict standards. Antimicrobial and coloring agents also play roles in both electronics and food production, ensuring product safety and efficacy.
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Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.65% |
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Market growth 2024-2028 |
USD 32.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.4 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 50% |
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Key countries |
China, US, Japan, Germany, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AG Chemi Group s.r.o., Akshay Group of Companies, All Chemical Manufacturing and Consultancy Pty Ltd., Anish Chemicals, Arihant Chemical, Avantor Inc., BASF SE, Deepak Nitrite Ltd., Jagannath Chemicals, Jost Chemical Co., Nitroparis S.L., Otto Chemie Pvt. Ltd., Penta s.r.o, Quality Chemicals S.L, Ravi Chem Industries, SNDB, SQM S.A., Spectrum Laboratory Products Inc., Vizag Chemical International, and Weifang Haiye Chemistry and Industry Co. Ltd. |
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Market dynamics |
Parent market analysis, Market forecasting , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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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