The global sodium nitrate market size was US$ 91.9 million in 2021. The global sodium nitrate market is forecast to grow to US$ 151.9 million by 2030 by registering a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
Sodium nitrate is a chemical component that is utilized in fertilizers as well as explosives due to its capacity to provide important nitrogen nutrients to crops. Wheat, soybeans, sugarcane, and corn are just a few of the crops that benefit from it. Apart from fertilizers, the chemical is also used in the food industry as a preservative.

Factors Influencing the Market
The applications of sodium nitrate in the food and agriculture industry will primarily drive the growth of the sodium nitrate market during the study period. Further, the compound is also used as an oxidizing agent to increase soil fertility and provide crops with vital nitrogen nutrients. Growing agricultural activities and an increasing number of farming activities will benefit the global sodium nitrate market during the forecast period.
Biofuels are gaining substantial traction across the automobile sector. As a result, it will increase the demand for sodium nitrate fertilizers during the study period.
Other factors, such as the rising demand for industrial-grade sodium nitrate in glass production, will also escalate the growth of the market. Sodium nitrate has many benefits, such as strengthening the glass. However, the harmful effects of sodium nitrate on human health may limit its adoption during the forecast period.

COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic hampered the demand for sodium nitrate. Due to the rapidly spreading virus, governments of various affected countries like China, and India, imposed strict lockdown measures. As a result, most of the industry's activities were halted. The glass manufacturing industry also registered a sharp drop in terms of revenue, which hampered the growth of the global sodium nitrate market.

Regional Analysis
The Asia-Pacific sodium nitrate market is forecast to record a substantial growth rate, owing to the increasing global population and the rising demand for food and agricultural practices. In addition to that, growing consumer disposable income and rapid economic growth of the nations like China, India, and Japan will upscale the demand for sodium nitrate. The market may also witness potential growth opportunities due to growing government support in the agriculture sector in this region, which will benefit the sodium nitrate market during the study period.

Competitors in the Market
BASF SE
UNE Industries Ltd. AG CHEMI Group s.r.o
Pon Pure Chemicals Group
Santa Cruz Biotechnology Inc.
American Elements
Hach
Aldebaran Sistemas
Sumitomo Chemical Co. Ltd.
Alfa Aesar
Other Prominent Players

Market Segmentation
The global sodium nitrate market segmentation focuses on Type, Application, and Region.
By Type
Sodium Nitrate Crystal
Industrial Sodium Nitrate
By Application
Fertilizers
Food Additives
Construction Chemicals
Explosives
Pharmaceuticals
Wastewater Treatment
Others
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
Rest of South America