The North America Sodium Nitrate Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 7,620.3 Tonnes, showcasing a growth of 6.1% (2019-2022).
Sodium nitrate is a chemical component utilized in various products, including fertilizers and explosives. As a preservative in cured meat products, it is a kind of alkali metal nitrate. Pyrotechnics and smoke bombs both employ black powder. This powder requires additional additives to reduce the rate of combustion. The stability and cost-effectiveness of sodium nitrate make it a prevalent active additive in black powder.
Furthermore, it can potentially accelerate the burning capabilities of combustible materials. As a result, it is suited for use as a solid rocket fuel and other explosives. Additionally, glass production and an increase in demand for sodium nitrate of industrial grade. High-strength and chemical stability glasses are produced in two stages using sodium nitrate. A sodium nitrate bath can be utilized to enhance the strength of the finished glass. All these elements increase sodium nitrate demand collectively, thereby contributing to the expansion of the market.
According to the data released by the World Bank, cereal crop production in the United States increased 452,628,439 metric tons in 2021. The United States is a major producer of corn, with a substantial portion of the crop used for ethanol production. Wheat is a primary cereal crop in the U.S., and its production supports the baking industry. It is sometimes used as a reducing agent in the melting process of glass production in Mexico. It can help control the oxidation state of certain elements in the glass melt, contributing to the overall quality of the glass in Mexico. Advances in agricultural practices, industrial processes, and technology could influence the utilization of sodium nitrate in Mexico.
The US market dominated the North America Sodium Nitrate Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $16,557.6 Thousands by 2030. The Canada market is experiencing a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Sodium Nitrate Market is Predict to reach $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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