This market research report includes a detailed segmentation of the global sodium nitrate market by end user (agriculture industry, pharmaceutical industry, food industry, and others). It also outlines the market shares for key regions like APAC, Europe, the Americas, and ROW. The top vendors analyzed in this report are Dahua Group Dalian Chemical Industry, Hangzhou Xinlong Chemical, Liuzhou Chemical Industry, Rashtriya Chemicals And Fertilizers, Shandong Haihua Group, and SQM.
Technavio has released its new market research report, global sodium nitrate market, which is expected to grow at a CAGR of 4% between 2016 and 2020. The market is anticipated to grow at a steady pace owing to the growth of various end-user segments like the agricultural and pharmaceutical industries. APAC is expected to dominate the global market for sodium nitrate, accounting for 45% of the total market share. Factors such as growing population and the corresponding demand for food will lead to the increased consumption of fertilizers in this region.
“Of late, this market in witnessing an upsurge in cross-border investments and joint venture undertakings to increase the production of sodium nitrate. Several nations across the world are investing in sodium nitrate mining and sodium-based fertilizer plants. Countries like Germany, China, Jordan, and Chile are focusing on the expansion of existing facilities, which will help them to have access to foreign reserves. Also, some major manufacturers in Asia and South America have increased their cross-border investments to acquire integrated production facilities, for higher profit margins,” says Chandrakumar BJG, Lead Analyst, Chemicals & Materials, Technavio Research
Recently, it has been observed that organizations around the world prefer using alternative energy sources like biofuels as they increase fuel efficiency and reduce pollution. Since biofuels are derived from natural products like corn, sugar cane, canola, and soybeans, an increase in the usage of nitrogen-based fertilizers for the cultivation of such crops will result in market growth during the predicted period.
The leading vendors in the global sodium nitrate market include Dahua Group Dalian Chemical Industry, Hangzhou Xinlong Chemical, Liuzhou Chemical Industry, Rashtriya Chemicals And Fertilizers, Shandong Haihua Group, and SQM. This market is extremely competitive and consists of several regional and international players. Factors such as intense competition, rapid technological advancements, and frequent changes in consumer preferences negatively influence the vendors’ revenue generating capacity.
A more detailed analysis is available in the Technavio report, Global Sodium Nitrate Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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