During the first part of 2023, sodium nitrate prices soared in Asia due to increased market engagements, restocking inventory, and elevated raw material costs. Robust demand from downstream sectors, particularly in China post-Lunar holidays and the Covid-19 period, bolstered manufacturing. However, the second quarter witnessed a significant downturn owing to decreased interest from both local and global buyers, coupled with restricted trade activities. In Europe, prices surged in the first quarter, primarily fueled by the pharmaceutical and associated sectors, despite volatile raw material expenses. Nevertheless, the second quarter encountered hurdles due to declining raw material prices, surplus supply, and sluggish demand from downstream industries. North America initially maintained stability but faced a decline in the second quarter due to reduced purchases by end-users, dropping oil prices, and weakened economic circumstances.
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Definition
Sodium nitrate (NaNO₃) is a chemical compound. It exhibits a white crystalline form and is soluble in water. Sodium nitrate is used in various industrial applications, including fertilizers, food preservation, and pyrotechnics. Its properties include oxidizing capabilities, supporting combustion, and being a source of nitrogen for plants. It's also used in the production of nitric acid and as a corrosion inhibitor. In pyrotechnics, sodium nitrate imparts an oxygen supply necessary for burning. In summary, sodium nitrate is a versatile compound with uses spanning agriculture, chemistry, and diverse industries.
Key Details About the Sodium Nitrate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium Nitrate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sodium Nitrate Price trends, including India Sodium Nitrate price, USA Sodium Nitrate price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sodium Nitrate Price Trend:
Sodium nitrate, denoted as NaNO₃, boasts numerous applications across various industries due to its versatility. In agriculture, it functions as a nitrogen-rich fertilizer, supporting robust plant growth. Within the food sector, it serves as a preservative, effectively extending the shelf life of processed meats by inhibiting bacterial growth. Its role as an oxidizing agent is indispensable in pyrotechnics and fireworks. Moreover, it plays a vital part in manufacturing by contributing to the creation of nitric acid, a crucial component in the production of various chemicals. Additionally, it serves as a corrosion inhibitor, safeguarding metals from deterioration. These multifaceted uses underscore the significance of sodium nitrate in agriculture, food preservation, chemical production, and pyrotechnics, emphasizing its broad impact on modern industries.
Key Players:
- Alfa Aesar
- UBE Industries LTD
- American Elements
- BASF SE
- AG CHEMI GROUP S.R.O.
- Sumitomo Chemical Co Ltd
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The top three companies account for about 25% of the market.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/98886/global-sodium-nitrate-2021-2027-181Market Analysis and Insights: Global Sodium Nitrate MarketIn 2020, the global Sodium Nitrate market size was US$ 397.1 million and it is expected to reach US$ 481.7 million by the end of 2027, with a CAGR of 2.8% during 2021-2027.Global Sodium Nitrate Scope and Market SizeSodium Nitrate market is segmented by region, by country, company, type, application and by sales channels.
The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.Segment by Type, the Sodium Nitrate market is segmented intoSodium Nitrate CrystalIndustrial Sodium NitrateSegment by Application, the Sodium Nitrate market is segmented intoGlassExplosivesAgriculturalChemical IndustryOthersRegional and Country-level Analysis:North AmericaUnited StatesCanadaAsia-PacificChinaJapanSouth KoreaIndiaSoutheast AsiaAustraliaRest of Asia-PacificEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesRest of EuropeLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaTurkeySaudi ArabiaUAERest of MEACompetitive Landscape and Sodium Nitrate Market Share AnalysisSodium Nitrate market competitive landscape provides details and data information by companies.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021.
Details included are company description, major business, Sodium Nitrate product introduction, recent developments, Sodium Nitrate sales by region, type, application and by sales channel.The major companies include:SQMShandong HaihuaCosayachJianfeng GroupSinkiang Nitrate MineralsLinyi LuguangQinghai YanhuShandong XinhaoHaiye ChemicalDeepak NitriteACF NitratosBASFUralchemSumitomoReasons to Purchase Our Research Report:1.
Analyzing the outlook of the market with the recent trends and SWOT analysis2.
Market dynamics scenario, along with growth opportunities of the market in the years to come3.
The Global Sodium Nitrate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Sodium Nitrate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/1628-sodium-nitrate-market-reportThe report also covers the complete competitive landscape of the global Sodium Nitrate market with company profiles of key players such as: SQMShandong HaihuaCosayachJianfeng GroupSinkiang Nitrate MineralsLinyi LuguangQinghai YanhuShandong XinhaoHaiye ChemicalDeepak NitriteACF NitratosBASFUralchemSumitomoThe detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT: By TypeSodium Nitrate CrystalIndustrial Sodium NitrateBy ApplicationGlassExplosivesAgriculturalChemical IndustryOtherBy Geography:North America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Sodium Nitrate Market @ https://www.decisiondatabases.com/contact/download-sample-1628The Global Sodium Nitrate Market has been exhibited in detail in the following chapters –Chapter 1 Sodium Nitrate Market Preface Chapter 2 Executive SummaryChapter 3 Sodium Nitrate Industry AnalysisChapter 4 Sodium Nitrate Market Value Chain AnalysisChapter 5 Sodium Nitrate Market Analysis By TypeChapter 6 Sodium Nitrate Market Analysis By ApplicationChapter 7 Sodium Nitrate Market Analysis By GeographyChapter 8 Competitive Landscape Of Sodium Nitrate CompaniesChapter 9 Company Profiles Of Sodium Nitrate IndustryPurchase the complete Global Sodium Nitrate Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-1628Other Reports by DecisionDatabases.com:Global Sodium Hydrosulfide Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Sodium Cyclamate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Sodium Tungstate Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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