The size of the sodium nitrite market was estimated at USD 401.76 million in 2022, and it is expected to grow at a CAGR of 4.3% from 2022 to 2032 and reach USD 612.09 million by 2032.
It is anticipated that the rising demand for sodium nitrite in meat curing applications will increase consumer demand and therefore result in surge of the sales of sodium nitrite. The demand for processed meat products like sausages, seafood, bacon, and ham is another factor driving the sodium nitrite market growth.
There is witnessed a high demand for sodium nitrite in a variety of sectors, including textiles, food and beverage, and pharmaceuticals. Sodium nitrite is used as a preservative, especially in the meat processing industry because it fixes colour and prevents the growth of harmful bacteria, making meat safe for consumption resulting in boost of the sodium nitrite market key trends and opportunities.
Download Sample Copy of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15184
As the pharmaceutical industry engages in research and development, demand for sodium nitrite has increased over time. The most recent demand for sodium nitrite has been to treat lung damage brought on by the coronavirus.
The Asia Pacific region is home to the majority of sodium nitrite market manufacturers and major players on the fragmented sodium nitrite market, in turn skyrocketing the sodium nitrite market future trends as well as sodium nitrite adoption trends.
The COVID-19 pandemic had a favourable effect on the demand for sodium nitrite because research and development pointed to novel adoption of sodium nitrite in treating the lung injuries brought on by the coronavirus. This has increased the adoption of sodium nitrite in the pharmaceutical industry, driving sodium nitrite market opportunities and sodium nitrite market trends and forecasts.
China, which has numerous sizable manufacturers throughout the nation, is the primary producer of the product in the Asia Pacific region. The current players in the sodium nitrite market are anticipated to engage in intense competition in order to remain competitive.
Key Takeaways:
APPLICATION INSIGHT:
- In 2022, the sodium nitrite market has been dominated by the food and beverage segment, which had the highest sodium nitrite market share (24.0%).
- The second-largest application segment of sodium nitrite market, corrosion inhibitors, is expected to grow at a CAGR of 4.0% during the forecast period.
Use promo code ->> FMITODAY to get flat 20% discount
REGIONAL INSIGHT:
- The sodium nitrite market is dominated by the Asia Pacific region, which in 2022 had a sodium nitrite market share of revenue of 74.3%.
- Over the anticipated years, the Asia Pacific is expected to experience the highest CAGR of 4.7%.
- In terms of revenue, Europe held the second-largest sodium nitrite market share in 2022 with over 17.0%.
COMPETITIVE LANDSCAPE:
New market research report on sodium nitrite says that Deepak; Airedale Chemical Company Ltd.; BASF SE; UralChem JSC; Shijiazhuang Fengshan Chemical Co. Ltd.; Radiant Indus Chem Pvt. Ltd.; SABIC; Chemtrade Logistics are among the legacy players vendors.
Companies like BASF SE have chosen outside distributors to provide their products to the sodium nitrite market.
The research offers a comprehensive competition analysis of these top competitors in the sodium nitrite market, including sodium nitrite market growth, sodium nitrite market share, sodium nitrite market key trends and opportunities and important sodium nitrite market statistics.
RECENT DEVELOPMENT:
- In Thailand, the government started a sizable project in 2017 to give farmers financial assistance for purchasing organic seeds, decreasing their reliance on pesticides, and erecting physical barriers to stop contamination from adjacent farmlands. By 2022, the standard rice cultivation area is intended to be reduced by 1 million rai (160,000 ha) thanks to this programme.
- Over 80% of the product used in pharmaceuticals, agro-based chemicals, and other industries is produced and supplied by Deepak, the largest sodium nitrite manufacturer in India.
Feel Free to Ask Your Queries @ https://www.futuremarketinsights.com/ask-question/rep-gb-15184
Key Segments
By Application:
- Food & Beverages
- Corrosion Inhibitors
- Dyes & pigments
- Pharmaceuticals
- Others
Future Market Insights Inc. is Knowledge Partner at Gulf Coatings Show, Sharjah, 17-19 October 2022 where we will be launching our Market Report ‘Coatings 2022: State of the Industry in Middle East’, Register to receive a digital copy of the Market Report and to join our content sessions.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com