Sodium Nitrate Market 2024-2033: Future Outlook, Industry Share, Global Trends And Key Players Analysis

PORTLAND, OREGON, UNITED STATES, March 21, 2024 /EINPresswire.com/ — Allied Market Research has recently issued a report titled “Sodium Nitrate Market,” providing a comprehensive analysis of the global sodium nitrate industry. According to the report, the market was valued at $80.6 million in 2020 and is projected to reach $125.1 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/A15618

Drivers, Restraints, and Opportunities

The global sodium nitrate market is driven by factors such as the increasing number of surgeries, rising prevalence of cardiovascular diseases and cancer, and growth in the geriatric and preterm infant populations. However, the presence of stringent regulatory frameworks and the high cost of technologically advanced patient warmers act as restraints. Nonetheless, the introduction of new technologically advanced patient warmers is expected to create lucrative opportunities in the industry.

Overview of Sodium Nitrate

Sodium nitrate finds widespread application in various industries. It is commonly used as an active additive in black powder for pyrotechnics and smoke bombs due to its cost-effectiveness and stability. Additionally, sodium nitrate accelerates the burning capability of combustible materials, making it ideal for use in solid rocket propellants and other explosives. Moreover, there is a rising demand for industrial-grade sodium nitrate in glass production, where it is used in the two-stage production process of chemically stable and high-strength glasses.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/A15618

Segment Analysis

Grade: The industrial-grade segment dominated the market in 2020, accounting for more than four-fifths of the global sodium nitrate market. This segment is expected to witness the fastest CAGR of 4.6% from 2021 to 2030. The affordability, non-toxicity, non-poisonous nature, and stability of sodium nitrate make it an ideal compound for the production of smoke bombs and solid rocket propellants.

End Use: The chemicals & agrochemicals segment held the largest market share in 2020, contributing to around two-thirds of the global sodium nitrate market. This segment is projected to witness the fastest CAGR of 4.7% from 2021 to 2030. Sodium nitrate is extensively used as a fertilizer in this segment to supply the proper amount of nitrogen to plant roots and vascular systems.

Regional Insights

Asia-Pacific, followed by Europe and North America, dominated the market in 2020, collectively holding nearly two-fifths of the global sodium nitrate market. The Asia-Pacific region is expected to witness the fastest CAGR of 5.5% from 2021 to 2030, driven by the extensive use of sodium nitrate in strengthening textile products through immersion in sodium nitrate baths.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/purchase-enquiry/A15618

Key players in the global sodium nitrate market include:

UNE Industries Ltd.
AG CHEMI Group s.r.o
Alfa Aesar
Santa Cruz Biotechnology Inc.
American Elements
BASF SE
Hach
Aldebaran Sistemas
Sumitomo Chemical Co., Ltd.
Pon Pure Chemicals Group

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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.

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