The global Sodium Nitrate market size is expected to be worth around US$ 200.5 million by 2030, according to a new report by Vision Research Reports.
The global Sodium Nitrate market size was valued at US$ 96.8 million in 2020 and is anticipated to grow at a CAGR of 6.7% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 200.5 million by 2030 |
| Growth Rate | CAGR of 6.7% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Grade, application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Deepak Nitrate Ltd.; BASF SE; SQM; Weifang Haiye Chemistry &Industry Co; ACF Nitratos S.A; Shijiazhuang Fengshan Chemical Co., Ltd.; Quality Chemicals S.L |
Growth Factors
the rising product demand in fertilizer application because of its ability to increase the crop yield. Sodium nitrate is mainly manufactured using nitric acid with soda ash. Nitric acid is subject to intense price and supply volatility in the global market as it is manufactured from ammonia and nitrogen dioxide. Fluctuations in the price and demand/supply of the aforementioned raw materials are expected to hamper the prices of sodium nitrate over the forecast period.
The high demand from fertilizers end-use segment due to the increasing demand for food is expected to drive the market over the forecast period. Sodium nitrate-based fertilizers are used widely due to their ability to provide necessary nitrogen nutrients to the crops. These fertilizers are considered favorable for crops like wheat, soybeans, sugarcane, and corn. Apart from fertilizers, the product is also used in the food industry as a preservative.
By Grade Analysis
The industrial segment dominated the market and accounted for a share of more than 89% in 2020. This high share was credited to the increased demand for fertilizers coupled with the growing demand for chemicals in various end-user industries, such as construction, electronic, industrial manufacturing, and others.
It is also used as a key ingredient for formulating final products, such as construction chemicals, adhesives, and degreasing. The food segment is estimated to witness a significant CAGR of more than 5.5% from 2021 to 2030.
By Application Analysis
In terms of revenue, the fertilizer application segment dominated the market and accounted for the largest share of more than 69% in 2020. This high share is attributed to the increasing demand for fertilizers globally as a result of the rising food production. The rising population across the globe has resulted in an increased demand for food.
The demand for food has increased exponentially during the pandemic, which is expected to result in short-term growth for fertilizer manufacturers. However, the growing concerns surrounding the problems associated with product toxicity are expected to limit the market growth.
By Regional Analysis
Central and South America dominated the global market in 2020 and accounted for the largest revenue share of more than 32.05%. The country is anticipated to expand further at a steady CAGR from 2021 to 2030.
Brazil is one the largest producers of soybeans, wheat, rice, and coffee among other Central & South American countries. The agricultural sector in the country is expected to grow at a fast pace due to the presence of highly cultivable land and suitable climatic conditions.
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.
Key Players
- Deepak Nitrite Ltd.
- BASF SE
- SQM
- Weifang Haiye Chemistry & Industry Co.
- ACF Nitratos S.A.
- Shijiazhuang Fengshan Chemical Co., Ltd.
- Quality Chemicals S.L.
Market Segmentation
- By Grade
- Industrial
- Pharmaceutical
- Food
- By Application
- Chemicals
- Fertilizers
- Explosives
- Glass
- Pharmaceutica
- Food & Beverages
- Others
- Regional
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Chile
- Peru
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Sodium Nitrate Market, By Grade
7.1. Sodium Nitrate Market, by Grade, 2021-2030
7.1.1. Industrial
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Pharmaceutical
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Food
7.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Sodium Nitrate Market, By Application
8.1. Sodium Nitrate Market, by Application, 2021-2030
8.1.1. Chemicals
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Fertilizers
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Explosives
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Glass
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Pharmaceutical
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Food & Beverages
8.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Sodium Nitrate Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Grade (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Grade (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Grade (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Grade (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Grade (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Grade (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Grade (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Grade (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Grade (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Grade (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Grade (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Grade (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Grade (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Grade (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Grade (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Grade (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Grade (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Grade (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Grade (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Grade (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Grade (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. Deepak Nitrite Ltd.
10.1.1. Company Overview
10.1.2. Grade Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. BASF SE
10.2.1. Company Overview
10.2.2. Grade Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. SQM
10.3.1. Company Overview
10.3.2. Grade Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Weifang Haiye Chemistry & Industry Co.
10.4.1. Company Overview
10.4.2. Grade Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. ACF Nitratos S.A.
10.5.1. Company Overview
10.5.2. Grade Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Shijiazhuang Fengshan Chemical Co., Ltd.
10.6.1. Company Overview
10.6.2. Grade Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Quality Chemicals S.L.
10.7.1. Company Overview
10.7.2. Grade Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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