Westford,USA, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the product has witnessed a surge in demand, primarily attributed to its expanding use in meat-curing applications in the sodium nitrite market. The growing trend towards processed meat products such as sausages, shrimp, bacon, and ham has been a significant driving force behind its increasing popularity. The product's versatility has also led to its widespread adoption in various industries, including pharmaceuticals, textiles, and the food and beverage sector.
Browse in-depth TOC on the "Sodium Nitrite Market"
- Pages - 260
- Tables - 37
- Figures – 76
The growing engagement of the sodium nitrite market in extensive research and development efforts has led to a significant upswing in the utilization of sodium nitrite. In cardiovascular therapy, sodium nitrite has proven to be a valuable agent in mitigating the consequences of hypotension, a condition characterized by low blood pressure. The compound's versatility and effectiveness in addressing this medical concern have earned it a prominent place within the pharmaceutical sector.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 418.1 Million |
| 2030 Value Projection | USD 580.8Million |
| CAGR | 4.2% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Sodium Nitrite Market
- BASF SE
- Airedale Chemical
- Merck KGaA
- The Dow Chemical Company
- Sumitomo Chemical Co., Ltd.
- Hill Brothers Chemical Company
- Anhui Haoyuan Chemical Industry Group Co., Ltd.
- Haihang Industry Co., Ltd.
- Huaxing Chemical Co., Ltd.
- Linyi Luguang Chemical Co., Ltd.
- Jinan Yuntian Chemical Industry Limited Company
- Anhui Ningguo Xinning Industrial Co., Ltd.
- Spectrum Chemical Manufacturing Corp.
- Weifang Qiangyuan Chemical Industry Co., Ltd.
- Yixing Xinwei Leeching Rare Earth Co., Ltd.
- Shanxi Xinghua Chemical Co., Ltd.
- Shandong Minji Chemical Co., Ltd.
- Zouping Changshan Town Zefeng Fertilizer Factory
- Shandong Zhongke Fertilizer Co., Ltd.
- Shandong Hongda Chemical Co., Ltd.
Food and Beverages Segment is Expected to Grow in the Market Due to the Growing Utilization of Sodium Nitrite as a Food Additives
Food and beverages segment emerged as the dominant force in the sodium nitrite market. This commanding position can be attributed to the growing utilization of sodium nitrite as a food additive in the poultry and meat industries. Besides its role as a pigment inhibitor, this chemical compound also serves as an essential antibacterial agent in the meat sector.
The North America is projected to experience the highest CAGR in the sodium nitrite market. This remarkable growth can be attributed to the soaring demand for sodium nitrate within the food industry. In this region, sodium nitrate is a crucial preservative, finding extensive application in preserving meats and other food products.
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Industrial Grade Segment is Expected to Dominate the Market Due tothe Escalating Demand for Chemicals
Industrial grade segment of Sodium Nitrite is poised to dominate the global sodium nitrite market, fueled by the escalating demand for chemicals across diverse industries such as electronics, industrial manufacturing, and construction. With its purity level reaching an impressive 99%, sodium nitrite plays a pivotal role as a solvent and a vital component in various applications.
Regional markets in the Asia-Pacific are set to take center stage, with the region anticipated to dominate the global sodium nitrite market. This dominance is primarily fueled by the surging demand for food-grade sodium nitrite, especially in key countries such as China, India, and Japan.
A comprehensive analysis of the major players in the sodium nitritemarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Sodium Nitrite Market
- Two major players in the chemical industry recently made significant strides to bolster the production of sodium nitrate. SQM (Sociedad Química y Minera de Chile) announced ambitious plans to enhance its production capacity by an impressive 50,000 metric tons annually. As one of the leading global producers of sodium nitrate, this move showcased their commitment to meet the growing demand for this essential compound.
- Recently, GNFC is expected to augment its annual capacity by 18,000 metric tons, positioning the company for a more prominent role in the sodium nitrate market. These expansion initiatives from both SQM and GNFC reflect the increasing significance of sodium nitrate and the determination of these industry leaders to cater to the rising demand for this versatile compound.
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Key Questions Answered in Sodium Nitrite Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Pharmaceutical Manufacturing Market
Global Immune Health Supplements Market
Global Biopharmaceuticals Excipients Market
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