The global sodium nitrite Market is projected to exhibit a CAGR of 3.9% during the forecast period of 2021 to 2028.
the following companies as the key players in the global sodium nitrite Market BASF SE (Germany), Airedale Chemical (UK), SNDB (India), Shandong Haihua Group (China), Shandong Xin Hao Chemical Co., Ltd (China), Radiant Indus Chem Pvt. Ltd (India), Nilkanth Organics (India), Yingfengyuan Industrial Group Limited (China), SINOY GROUP LIMITED (China), Anmol Chemicals (India), and The Deepak Group (India).
The global sodium nitrite Market is projected to be valued at USD 241.60 million by 2028, recording a CAGR of 3.9% during the forecast period. Sodium nitrite is an inorganic chemical used in various industries such as food, chemical, agriculture, etc. Sodium nitrate is an alkali metal nitrate salt. It contains nitrate and sodium ions. The chemical formula of sodium nitrate is NaNO3. It is also referred to as cubic or soda niter, chile saltpeter, nitratite, and nitratine. Sodium nitrate is obtained from mines as well as through chemical synthesis in laboratories. It is a colorless, clear,odorless compound that exists in the form of white granules, transparent crystals, or powder. Sodium nitrite is widely used in processed and processed meat products such as sausages, bacon, ham, canned seafood products, etc., as a preservative. The demand for sodium nitrite is increasing with increasing demand for meat products. Increasing demand for food additives from the food industry is also expected to drive the demand for sodium nitrite during the forecast period. Furthermore, sodium nitrite prevents microbial growth and contamination, which increases the overall shelf life of food products.
The lockdown in various countries worldwide is also affecting the production capacity of sodium nitrite manufacturing companies. Manufacturers in the industry are also facing production problems as they either have to shut down production to ease employee concerns or are run production under-staffed. The procurement of ingredients has also become a major concern for manufacturers.The company’s contract manufacturer that produces the sodium nitrite had to close the production facility in response to the ongoing disease outbreak, which has affected both the manufacturing and shipping of the sodium nitrite. This is further hampering the demand-supply of sodium nitrite.
With countries across the world shutting down their borders, there have been minimum export-import movements, which have profoundly impacted the growth of the overall sodium nitrite industry. Measures to control COVID-19 have led to multiple production and transport disruptions in China, where much of the global supply of ingredients originates. All this has severely affected the supply chain of the sodium nitrite Market at a global level.
The global sodium nitrite Market has been segmented based on grade, application, and region.
By grade, the global sodium nitrite Market has been segmented into food grade and industrial grade. The industrial-grade segment accounted decent share in the global sodium nitrate market. Demand for industrial-grade sodium nitrate is growing owing to the increasing consumption of sodium nitrate in metal casting, fertilizers,photochemical products, and reprographic agents.
By application, the global sodium nitrite Market has been segmented as food processing, fertilizer, pharmaceutical, rubber processing, and others. The fertilizers segment is likelytoregister a significant CAGR in the global sodium nitrate market for the forecast period. Demand for sodium nitrate fertilizers is experiencing a surgein demand as they possess high soluble and biodegradable properties.
On the basis of region, the global sodium nitrite Market has been categorized as North America,Europe, Asia-Pacific,and the Rest of the World. As per CRI analysis, North America constituted a dominant share of the sodium nitrite Market in 2020.Europe has reported for the second-largest market share in the global sodium nitrite market and is projected to witness a below-average growth rate during the forecast period. However, Asia-Pacificis expected to register the highest CAGR during the forecast period.