Sodium Nitrate Market Growth Scenario in Coming Years | Global Industry will reach $125.1 million by 2030

Asia-Pacific, followed by Europe and North America contributed to major share in term of revenue 2020, holding nearly two-fifths of sodium nitrate market.

PORTLAND, UNITED STATES, USA, February 22, 2022 /EINPresswire.com/ -- The sodium nitrate market is segmented on the basis of grade, end use, and region. By grade, the market is segregated into food and industrial. The industrial grade dominated the global market in terms of revenue in 2020, with over six-seventh of the total share. Use of food grade sodium nitrate as a color fixative in cured meats and poultry meat products is a key market trend. Sodium nitrate is the most commonly used food preservative in processed meat products. It is used and added during curing process in order to inhibit the growth of bacteria. Moreover, sodium nitrate is capable of removing bacteria that grow in presence of moisture and inhibits the bacterial growth through dehydration.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/15987

On the basis of region, Asia-Pacific, followed by Europe and North America contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global sodium nitrate market. The same region is also projected to cite the fastest CAGR of 5.5% from 2021 to 2030. Sodium nitrate is extensively used to strengthen the textile products by immersing threads into sodium nitrate bath, thereby driving the market growth.

According to the report published by Allied Market Research, the global sodium nitrate market was over $80.6 million in 2020, and is anticipated to cross $125.1 million by 2030, registering a CAGR of 4.5% from 2021 to 2030. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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. On the other hand, presence of stringent regulatory framework and high cost of technologically advanced patient warmer impede the growth to some extent. However, new launches of technologically advanced patient warmers are expected to create lucrative opportunities in the industry.

On the basis of end use, the chemicals & agrochemicals segment generated the highest share in 2020, holding around two-thirds of the global sodium nitrate market. The same segment is also expected to cite the fastest CAGR of 4.7% from 2021 to 2030. This is owing to usage of sodium nitrate as a fertilizer that helps to supply proper amount of nitrogen to plant roots and other vascular system.

Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/sodium-nitrate-market/purchase-options

On the basis of grade, the industrial grade segment accounted for the highest market share in 2020, generating more than four-fifths of the global sodium nitrate market. The same segment is also anticipated to cite the fastest CAGR of 4.6% from 2021 to 2030. This is due to the fact that sodium nitrate being inexpensive, non-toxic, non-poisonous, and stable makes itself an ideal compound during production of smoke bombs and solid rocket propellants.

Covid-19 Scenario-

The distorted supply chain across the world gave way to shortfall of black powder additives that are utmost important in production of explosives such as sodium nitrate and ammonium nitrate, thereby impacting the global sodium nitrate market negatively, especially during the initial phase.
However, ease of lockdown measures across the globe has helped the market recoup soon.

Prominent Market Players-

1. UNE Industries Ltd.
2. AG CHEMI Group s.r.o
3. Alfa Aesar
4. Santa Cruz Biotechnology Inc.
5. American Elements
6. BASF SE
7. Hach
8. Aldebaran Sistemas
9. Sumitomo Chemical Co., Ltd.
10. Pon Pure Chemicals Group

Get Detailed COVID-19 Impact Analysis on the Sodium Nitrate Market @ https://www.alliedmarketresearch.com/request-for-customization/15987?reqfor=covid

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Similar Reports:

Sodium Hypochlorite Market

Sodium Chlorite Market

David Correa
Allied Analytics LLP
800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn