According to a new report, published by KBV research, The Global Sodium Nitrate Market size is expected to reach $160.1 million by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,06,268.7 Tonnes, experiencing a growth of 6.0% (2019-2022).
The Industrial segment is leading the Global Sodium Nitrate Market by Grade in 2022; thereby, achieving a market value of $128.2 Million by 2030. Sodium nitrate is an essential element in fertilizers, which helps the agricultural industry grow. Its ability to provide a readily available plant nitrogen source enhances soil fertility and promotes robust crop yields. In the industrial food processing sector, sodium nitrate is a preservative to extend the shelf life of processed meats and other food products. Ensuring the safety and freshness of perishable products, its antimicrobial properties impede bacterial growth. Sodium nitrate is used in food preservation, which helps fuel market segment growth as the demand for packaged and processed foods increases globally.
The Glass segment is registering a CAGR of 6.9% during (2023 - 2030). Sodium nitrate acts as a flux in the glass manufacturing process. As a flux, it lowers the melting point of raw materials, facilitating the fusion of silica (sand), soda ash, and other components used in glass production. This property is crucial for optimizing the efficiency of the melting process. It promotes the fusion of raw materials at lower temperatures, reducing energy consumption and promoting cost-effective and sustainable glass production. Sodium nitrate influences glass's properties, contributing to its characteristics' modification. The controlled addition of sodium nitrate allows manufacturers to tailor the glass composition, influencing transparency, hardness, and thermal expansion.
The Asia Pacific region dominated the Global Sodium Nitrate Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $60.5 Million by 2030. The LAMEA region is anticipating a CAGR of 5.7% during (2023 - 2030). Additionally, The North America region would exhibit a CAGR of 6.8% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/sodium-nitrate-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography (Volume, Tonnes, USD Million, 2019-2030)
Companies Profiled
Unique Offerings 
