Sodium Nitrate Market Growing Steadily At 4.5% CAGR, Surging Towards $125.1 Million Valuation By 2030

Sodium Nitrate Market share, Market trends, and forecasts from 2021 to 2030

PORTLAND, OREGON, UNITED STATES, May 23, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Sodium Nitrate Market by Grade (Food Grade and Industrial Grade) and End Use (Food, Pharmaceuticals, Chemicals & Agrochemicals, Explosives, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global sodium nitrate industry was estimated at $80.6 million in 2020, and is anticipated to hit $125.1 million by 2030, registering a CAGR of 4.5% from 2021 to 2030.

Drivers, restraints, and opportunities-

Rise in the number of surgeries, increase in prevalence of cardiovascular diseases and cancer, and growth in geriatric & preterm infant population drive the global sodium nitrate market. On the other hand, presence of stringent regulatory framework and high cost of technologically advanced patient warmer impede the growth to some extent. However, new launches of technologically advanced patient warmers are expected to create lucrative opportunities in the industry.

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The industrial grade segment to maintain its lion's share-

On the basis of grade, the industrial grade segment accounted for the highest market share in 2020, generating more than four-fifths of the global sodium nitrate market. The same segment is also anticipated to cite the fastest CAGR of 4.6% from 2021 to 2030. This is due to the fact that sodium nitrate being inexpensive, non-toxic, non-poisonous, and stable makes itself an ideal compound during production of smoke bombs and solid rocket propellants.

The chemicals & agrochemicals segment to lead the trail-

On the basis of end use, the chemicals & agrochemicals segment generated the highest share in 2020, holding around two-thirds of the global sodium nitrate market. The same segment is also expected to cite the fastest CAGR of 4.7% from 2021 to 2030. This is owing to usage of sodium nitrate as a fertilizer that helps to supply proper amount of nitrogen to plant roots and other vascular system.

Asia-Pacific, followed by Europe and North America to dominate by 2030-

On the basis of region, Asia-Pacific, followed by Europe and North America contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global sodium nitrate market. The same region is also projected to cite the fastest CAGR of 5.5% from 2021 to 2030. Sodium nitrate is extensively used to strengthen the textile products by immersing threads into sodium nitrate bath, thereby driving the market growth.

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𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

Sodium nitrate (NaNO3) supplementation has been a subject of interest in various fields, including agriculture, medicine, and nutrition. Here's a summary of some of its potential benefits and concerns:

Agricultural Use: Sodium nitrate is commonly used as a fertilizer in agriculture. It provides a source of nitrogen, which is essential for plant growth and is often deficient in soils. However, excessive use of sodium nitrate can lead to environmental pollution and groundwater contamination.

Medicinal Use: In medicine, sodium nitrate has been used historically in the treatment of angina pectoris (chest pain) due to its vasodilatory properties. It helps dilate blood vessels, improving blood flow and reducing the workload on the heart. However, its medical use has decreased due to the availability of other more effective medications with fewer side effects.

Nutritional Concerns: In terms of nutrition, sodium nitrate is often added to processed meats as a preservative and color fixative. However, there are concerns about the health effects of consuming processed meats containing sodium nitrate. Some studies have linked high intake of processed meats to an increased risk of certain diseases, such as cancer and cardiovascular disease. The nitrate itself is not considered harmful, but when it reacts with certain compounds in the body, it can form nitrosamines, which are potential carcinogens.

Potential Risks: Chronic exposure to high levels of sodium nitrate through food or water may lead to nitrate poisoning, particularly in infants, causing a condition called methemoglobinemia, which reduces the blood's ability to carry oxygen. Additionally, excessive consumption of foods high in sodium nitrate may increase the risk of certain cancers, particularly colorectal cancer.

Prominent Market Players-
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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