Sodium Nitrate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Sodium Nitrate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • Chemicals

Report Description

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Nitrate is a polyatomic ion containing one atom of nitrogen and three atoms of oxygen. Nitrate salts, which are a major source of sodium nitrate, are naturally obtained from the earth’s crust. Sodium nitrate is an alkali metal nitrate salt containing sodium and nitrate ions. The compound has the chemical formula of NaNO3, and is also referred as Chile saltpetre, cubic or soda nitre, nitratine, and nitratite. Sodium nitrate is obtained either from mines or through chemical synthesis in laboratories. Sodium nitrate is a clear, colorless, odorless compound which either exists in the form of transparent crystals, white granules, or powder. Sodium nitrate is primarily used in the production of inorganic fertilizers, as heat transfer agent, and as intermediate in chemical processes.

The global sodium nitrate market is primarily driven by the increase in demand for sodium nitrate fertilizers from the agriculture and food industry. Sodium nitrate fertilizers act as an oxidizing agent to proliferate the fertility of the soil and provide essential nitrogen nutrients to the crops. Sodium nitrate fertilizers are favorable for corn, wheat, sugarcane, canola, and soybeans crops. These crops are used in the production of biofuels. Consumption of biofuels in the automotive industry has been increasing as they enhance fuel efficiency and reduce vehicle emissions. Rise in demand for biofuels is projected to boost the consumption of sodium nitrate fertilizers. Increase in demand for food preservatives and variations in food habits of people are propelling the growth of sodium nitrate market. Furthermore, low cost and availability of sodium nitrate fertilizers is anticipated to boost the demand for sodium nitrate. However, excessive usage of sodium nitrate fertilizers deteriorate the quality of soil, thereby hampering the growth of the sodium nitrate market.

Based on type, the sodium nitrate market can be segmented into food grade, pharmaceutical grade, industrial grade, and others. The industrial grade segment accounts for the key share of the global sodium nitrate market. Demand for industrial grade sodium nitrate is increasing due its rising consumption in fertilizers, metal casting, reprographic agents, and photochemical products. However, demand for food grade sodium nitrate is declining due to rising health concerns among consumers.

In terms of end-use, the sodium nitrate market can be divided into fertilizers, food additives, construction chemicals, explosives, pharmaceuticals, wastewater treatment, and others. The fertilizers segment accounts for a significant share of the global sodium nitrate market. Demand for sodium nitrate fertilizers has increased as they possess high soluble and biodegradable properties.

Based on geography, the global sodium nitrate market can be classified into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The sodium nitrate market in Asia Pacific is anticipated to expand at a rapid pace due to growth in population and rise in disposable income of consumers. Demand for sodium nitrate has increased owing to rapid industrialization in countries such as China, India, and Japan. North America and Europe also constitute prominent share of the global sodium nitrate market owing to the increase in demand for sodium nitrate in the food and agriculture industry.

Key players operating in the global sodium nitrate market include BASF SE, Dahua Group Dalian Guanlin International Trade Co., Ltd., Hangzhou Xinlong Chemical Co., Ltd., Liuzhou Chemical Industry Co., Ltd., Rashtriya Chemicals and Fertilizers Limited, Shandong Haihua Group Co., LTD, Sumitomo Chemical Co., Ltd., and SQM (Sociedad Química y Minera).

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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