Sodium Nitrite Market
Sodium Nitrite Market Forecast By Grade (Food Grade, Technical Grade), By End-Use Industry (Pharmaceuticals, Dyes & Pigments, Rubber, Others) & By Region (North America, Europe, Latin America) - Global Market Insights 2022 to 2032
Analysis of Sodium Nitrite Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Sodium Nitrite Market Outlook (2022 to 2032)
Sodium nitrate is dominantly used in the manufacturing of a variety of organic compounds. This material is used in meat processing as well as pharmaceuticals application. It is also used in the manufacturing of diazo chemical compounds, dyes, and other chemicals. Sodium nitrite in its preservative form is approved by the EU & the USA. Several grades of sodium nitrite are available in the market including technical grade, anti-caking technical grade, food grade, and food grade with the reagent.
Sodium Nitrate is used in making fertilizers where it is applied in the water-soluble condition. The preference for this material in fertilization is due to its ability not to effect on pH of soil. Agricultural usage is likely to trigger demand for this material in the forecast period. In the field of medicine, sodium nitrate is used in treating cyanide poisoning.
The global sodium market is valued at USD 217.55 Million in 2022. The market is further anticipated to grow and reach a valuation of USD 474.92 Million by end of 2032. The sodium nitrate industry is expected to expand with a CAGR of 8.12% in the forecast period. The assessment duration under this research is 2022- 2032.
Report Attributes |
Details |
|
Market size (2022 A) |
USD 217.55 Million |
|
Base Year for Estimation |
2022 |
|
Forecast duration for this research |
2022-2032 |
|
Forecasted Market value (2032 F) |
USD 474.92 Million |
|
Global Market Growth rate (2022-2032 E) |
CAGR of 8.12% |
|
Key Companies Profiled |
|
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What are the drivers of growth in the sodium nitrate industry?
There is an anticipated rise in the food and beverage sector in the forecast period which is likely to bring demand for sodium nitrate. Sodium nitrate is a prerequisite mineral used to preserve food. The dominant use of this material is done in the preservation of meat. It is also used in the manufacturing of dyes and pigments.
It also acts as a polymer inhibitor for synthetic rubber production as a rubber additive. The rising rubber industry seems promising for fostering demand for the sodium nitrate industry. It is also effective as a corrosion inhibitor in paints, pipelines, and tanks.
Sodium nitrite is used in the energy sector too. It acts as heat transfer salt in large air conditioning systems & industrial refrigeration. The demand for sodium nitrite as a coolant is expected to increase with the growing need for efficient cooling in refrigeration systems.
What are the challenges ahead of the industry?
The food sector’s usage of sodium nitrate is likely to diminish or become moderate in the forecast period owing to a possible rise in the usage of alternative preservatives in the food segment.
The demand from this industry is expected to remain low due to the global slowdown of the nitrous dye industry. Sodium nitrite also functions as a corrosion inhibitor in paints, antifreeze, pipelines, and oil tanks. In the metal industry, it is prominently used as an oxidizing agent, including in tin metal ditinning.
Furthermore, the fluctuations in raw material prices and the implementation of stringent trade regulations across the world are the key restraints affecting the growth of the sodium nitrite market. The fluctuations in crude oil prices also affect sodium nitrite pricing. The global trade of sodium nitrite is affected by the trade war between global economies such as Japan & South Korea, China, and the U.S., and others. Manufacturers in China have been reported to operate at reduced capacities.
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Segment wise Insights
Based on the end-use industry fertilizers sector holds major revenue with more than 65% share in 2020. The higher share of this segment is due to the rise in fertilizer demand across the agriculture sector. The expansion in population is anticipated to increase demand for food which in turn exceeds the demand for the sodium nitrate market. Farmers rely on the usage of this to enhance per hector yield in the fertilizers market.
The industrial segment is dominating the market with a share of 89% in 20020 as there is increased demand for fertilizers and pharma applications. Construction and industrial manufacturing are other fields that contribute to the demand for sodium nitrate in industrial applications.
Regional Outlook
The global demand for sodium nitrite is expected to experience low to medium growth with the implementation of stringent trade laws and increased anti-dumping duties. The Asia-Pacific region is expected to remain the highest consumer of sodium nitrite provided by Chinese manufacturers and growing meat processing industries in the region.
The demand in North America & European regions is expected to remain moderate due to the slowdown of the dye & pigment and rubber industries. The Middle East & Africa and Latin America regions are expected to experience slow to medium growth due to uncertainties caused by the political instabilities in the region.
In Brazil, the agriculture segment is likely to be the major driver of the demand for sodium nitrate. The country is a leading producer of wheat and rice which is likely to grow in demand for fertilizers in the forecast period. The rapid cultivation and agricultural industry are playing a crucial role in fostering demand for fertilizers in this region.
In terms of market revenue share, Asia pacific region is expected to gain traction of growth in upcoming years. Countries with high populations like India and China are set to notice a rise in industrial and food demand. The increasing consumer income and changing lifestyles are propellants for the pharmaceutical and other applications of sodium nitrate.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
The market is centered around major manufacturers and brands. These companies are focused on the creation of differentiation in order to keep themselves competitive. Brands focusing on the enhancement of production capacities to serve growing demand. The companies are also engaging with third-party firms to manage distribution.
A high cost of capital is required in this industry which can create a hurdle for the start-up ecosystem. The major labour cost and required infrastructure cost are reasons why small and medium enterprises find this industry unfavourable. Companies like BASF and SE are heavily relying on innovation and the quality of products to attract business growth.
Sodium Nitrite Market : Segmentation
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By Grade :
- Food Grade
- Technical Grade
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By End-user Industry :
- Pharmaceuticals
- Dyes & Pigments
- Rubber
- Construction Chemicals
- Meat Processing
- Textiles
- Others
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By Geographical Region :
- North America
- Europe
- Latin America
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Grade 6.2. End-User Industry 7. Global Market Analysis and Forecast, By Grade 7.1. Food Grade 7.2. Technical Grade 8. Global Market Analysis and Forecast, By End-User Industry 8.1. Pharmaceuticals 8.2. Dyes & Pigments 8.3. Rubber 8.4. Construction Chemicals 8.5. Meat Processing 8.6. Textiles 8.7. Others 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. East Asia 9.6. South Asia & Pacific 9.7. MEA 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. MEA Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Grade and End-User Industry for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. BASF 19.2. Concern Stirol 19.3. Deepak nitrite ltd 19.4. Hualong Ammonium Nitrate Co., Ltd. 19.5. Weifang Haiye Chemistry And Industry Co. Ltd 19.6. Linyi Luguang Chemical Co., Ltd 19.7. Xiangyang Zedong Chemical Co., Ltd 19.8. URALCHEM 19.9. Radiant Indus Chem Pvt Ltd 19.10. Planet Chemicals Pte Ltd
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Grade
Table 3: Global Market US$ Mn Forecast by End-User Industry
Table 4: North America Market US$ Mn Forecast by Country
Table 5: North America Market US$ Mn Forecast by Grade
Table 6: North America Market US$ Mn Forecast by End-User Industry
Table 7: Latin America Market US$ Mn Forecast by Country
Table 8: Latin America Market US$ Mn Forecast by Grade
Table 9: Latin America Market US$ Mn Forecast by End-User Industry
Table 10: Western Europe Market US$ Mn Forecast by Country
Table 11: Western Europe Market US$ Mn Forecast by Grade
Table 12: Western Europe Market US$ Mn Forecast by End-User Industry
Table 13: Eastern Europe Market US$ Mn Forecast by Country
Table 14: Eastern Europe Market US$ Mn Forecast by Grade
Table 15: Eastern Europe Market US$ Mn Forecast by End-User Industry
Table 16: East Asia Market US$ Mn Forecast by Country
Table 17: East Asia Market US$ Mn Forecast by Grade
Table 18: East Asia Market US$ Mn Forecast by End-User Industry
Table 19: South Asia & Pacific Market US$ Mn Forecast by Country
Table 20: South Asia & Pacific Market US$ Mn Forecast by Grade
Table 21: South Asia & Pacific Market US$ Mn Forecast by End-User Industry
Table 22: MEA Market US$ Mn Forecast by Country
Table 23: MEA Market US$ Mn Forecast by Grade
Table 24: MEA Market US$ Mn Forecast by End-User Industry
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 17: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 18: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 19: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 20: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 21: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Grade
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User Industry
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What are the key factors propelling sodium Nitrate arcade?
The growth of the rubber industry is likely to increase the demand for sodium nitrite.
Which are the top 5 geographical regions driving market demand?
The top 5 Regions are North America, Europe, Latin America, the Middle East, and Asia-Pacific.
What is the current lookout for this market?
The global sodium market is valued at USD 217.55 Million in 2022.
What is the future outlook for this industry?
The market is further anticipated to grow and reach a valuation of USD 474.92 Million by end of 2032.
What is the rate of growth anticipated for this market in the forecast duration?
The sodium nitrate industry is expected to expand with a CAGR of 8.12% in the forecast period. The assessment duration under this research is 2022- 2032.
Sodium Nitrite Market