A report recently added to the massive database of MarketResearchReports.biz states that the global sodium nitrate market is poised to register a 3.59% CAGR from 2016 to 2020. The 49-page research publication is titled “Global Sodium Nitrate Market 2016-2020” and presents an in-depth assessment of the overall industry with inputs from leading experts. An overview of the market landscape, the growth prospects over the coming years, a discussion on the key vendors, and the latest figures pertaining to sales, size, and value are all highlighted in the sodium nitrate market research study.
Sodium nitrate, a crystalline salt used to make gunpowder and fertilizers, is found in the Earth’s crust, with large production plants in Peru and Chile. Sodium nitrate is a key plant nutrient and a strong oxidizer. It is used in a wide variety of applications, such as metal treatment, fireworks, rocket propellants, food preservation, nitric acid production, industrial explosives, ceramics and glass, and as an essential ingredient in increasing crop yield. In the pharmaceutical industry, sodium nitrate is used to treat tooth sensitivity. In the agriculture sector, sodium nitrate is used to produce water-soluble fertilizers.
The study identifies the key growth drivers and challenges in the sodium nitrate market and analyzes their impact during the forecast period. According to the research report, the global sodium nitrate market is fueled mainly by the emergence of biofuels. While the growing use of genetically modified seeds threatens to challenge the market, an upsurge in joint-venture undertakings and cross-border investments is a key trend that is likely to boost the global market.
The research report studies the global sodium nitrate market on the basis of end use and geography. By end use, the sodium nitrate market is segmented into pharmaceutical, food, agriculture, and other industries. By geography, the sodium nitrate market is divided into Europe, Asia Pacific, the Americas, and Rest of the World. Each of the segments is analyzed for the period of 2015 to 2020, with figures represented in thousand metric tons.
The key players competing in the sodium nitrate market include Shandong Haihua Group, Hangzhou Xinlong Chemical, Rashtriya Chemicals and Fertilizers, SQM, Dahua Group Dalian Chemical Industry, and Liuzhou Chemical Industry. Other vendors operating in this space include Jiangsu Huaihe Chemicals, Anhui Huaertai Chemical, Shanxi Jiaocheng Hongxing Chemicals, and HuaQiang Chemical Group. These companies are reviewed in the sodium nitrate market report in terms of business segmentation, type of products, and geographical segmentation. The revenue figures of each company for 2014 have been provided in the study. The report also highlights the strengths and weaknesses of the leading vendors and the threats and opportunities faced by them in the past and in the coming years.
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