The Latin America, Middle East and Africa Sodium Nitrate Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 21,426.9 Tonnes, showcasing a growth of 6.0% (2023-2030).
Sodium nitrate finds applications across various industries, showcasing its versatility and significance. One of the primary applications lies in agriculture, where sodium nitrate is a key component in fertilizers. The compound provides a valuable nitrogen source for plant growth and development. Its ability to enhance soil fertility and promote robust crop yields has led to widespread adoption by farmers. In addition to its role in agriculture, it plays a pivotal part in the food industry. It is employed as a food preservative, leveraging its antimicrobial properties to extend the shelf life of various products. The compound inhibits the growth of bacteria and prevents spoilage, ensuring the freshness and safety of processed foods. This application aligns with the growing demand for sustainable and long-lasting food solutions in a market.
Furthermore, it has applications in manufacturing explosives, with its use as an oxidizing agent in producing gunpowder. Its presence in pyrotechnics and fireworks underscores its importance in the entertainment industry. It is utilized in the pharmaceutical sector, contributing to the synthesis of various medications. Its role in the pharmaceutical industry involves applications in producing antibiotics and other pharmaceutical compounds.
According to the International Trade Administration, the UAE’s construction sector is expected to see a solid recovery in the next five years, with construction industry value growing between 3.7-4.7% according to experts. Growth will be driven by the country’s development agenda focused on growing the country’s industrial, transportation, and energy infrastructure. As part of the Projects of the 50 initiatives, the UAE government announced plans to implement a series of projects aimed at accelerating the UAE’s economic development to transform the country into a comprehensive hub for all sectors, aiming to attract $149.8 billion in foreign direct investment (FDI) over the next nine years.
The Brazil market dominated the LAMEA Sodium Nitrate Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $12,342.9 Thousands by 2030. The Argentina market is showcasing a CAGR of 5% during (2023 - 2030). Additionally, The South Africa market would register a CAGR of 6.4% during (2023 - 2030).
Based on Grade, the market is segmented into Industrial, Pharmaceutical, and Food. Based on Application, the market is segmented into Fertilizers, Chemicals, Explosives, Glass, Pharmaceuticals, Food & Beverages and Others. Based on countries, the market is segmented into Brazil, Argentina, Morocco, Chile, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Sodium Nitrate Market is Projected to reach USD 160.1 Million by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include BASF SE, Weifang Binhai Petro-Chem Co., Ltd (Tiande Chemical Holdings Co., LTD), Airedale Chemical Holdings Limited, Linyi Shansong Biological Products Co., Ltd., SABIC (Saudi Arabian Oil Company), AG CHEMI GROUP s.r.o., Pon Pure Chemicals Group (Pure Chemicals Co.), Santa Cruz Biotechnology, Inc., Sumitomo Chemical Co., Ltd., and UBE Corporation.
By Grade (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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