Global Sodium Nitrate Market Analysis & Trends - Industry Forecast to 2030

Global Sodium Nitrate Market Analysis & Trends - Industry Forecast to 2030

Sodium Nitrate: Market Size

From $128.89 million in 2024, the global Sodium Nitrate market is projected to reach $201.15 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 7.7% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include growing demand for fertilizers, rising demand from the food and beverages industry and growing legislator food regulations to ensure food safety.

Global Sodium Nitrate Market: Market Dynamics
The market is largely dependent on the trends of its application industries. 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. The market is also anticipated to be driven by the growth of fertilizers products in the agriculture industry. 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.

On the other hand, the fluctuations in the price and demand/supply of the raw materials are likely to obstruct the profit boundaries. In addition, rise in demand of industrial grade sodium nitrate and increasing consumption of biofuels in the automotive industry will further boost for the Sodium Nitrate market.

Impact of COVID-19 on Sodium Nitrate
The spread of the COVID-19 virus has crippled economies across the globe and severely impacted the supply chains across industries. COVID-19 negatively impacted the Sodium Nitrate market, thus, declining the market studied. Labor shortages, transportation issues, and liquidity shortages as a result of the lockdown caused by the COVID-19 pandemic affected the supply chain of the sodium nitrate market. However, government packages for agriculture post-COVID are expected to boost the sodium nitrate industry. The Indian government announced several measures such as agri-marketing reforms, revamp essential commodities act, and INR 1 lakh crore investment in farm gate infrastructure and logistics to raise the agriculture market. The food and beverage industry also had a significant impact due to COVID-19. However, the healthcare and pharmaceutical industries experienced an upsurge due to COVID-19, as the medicines used in the hospitals have increased.

By Grade
Industrial Segment Dominate the Market in 2024
The industrial segment made huge revenue in 2024 and growing its prominence during the forecast period. 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. Industrial-class sodium nitrate has a purity level of 99%. It is widely utilized as a solvent in various industries.

By Geography
South America Region is Leading in the Global Market Place
South America region is likely to have a huge demand in the forecast period owing to the increasing agricultural activities coupled with the rising demand for processed foods due to changing lifestyles and growing chemical manufacturing. 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 fast pace due to the presence of highly cultivable land and suitable climatic conditions. Farmland availability of oilseeds, corn, and sugarcane in Brazil is expected to boost the growth of the agricultural sector, in turn, promoting the importance of fertilizers. Over the past decade, Brazil has been playing a crucial role in the agricultural industry, with rapidly increasing crop cultivation and simultaneously rising export levels.

List of the Key Players Profiled in the Market Include:
• BASF SE
• Dahua Group Dalian Guanlin International Trade Co., Ltd
• Shandong Haihua Group Co., LTD
• Shijiazhuang Fengshan Chemical Co., Ltd.
• Quality Chemicals S.L
• SQM
• Weifang Haiye Chemistry And Industry Co
• Hangzhou Xinlong Chemical Co., Ltd.
• Deepak Nitrate Ltd.
• Acf Nitratos S.A
• Liuzhou Chemical Industry Co., Ltd
• Sumitomo Chemical Co., Ltd
• Rashtriya Chemicals and Fertilizers Limited

List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others