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Europe Sodium Nitrate Market to Witness 3.8% CAGR During 2018–2023

Some of the major players operating in the Europe sodium nitrate market are BASF SE, Merck KGaA, Honeywell International Inc., Union Group Chemical Company S.L., Grupa Azoty SA, abcr GmbH, URALCHEM Holding P.L.C., PJSC Concern Stirol, PJSC Severodonetsk u201cAzotu201d, Neochim Plc, and JSC u00abFargu2019onaazotu00bb.

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Europe Sodium Nitrate Market to Witness 3.8% CAGR During 2018–2023

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  1. Europe Sodium Nitrate Market

  2. Europe Sodium Nitrate Market Industry Overview The European sodium nitrate market is predicted to grow at 3.8% CAGR during the forecast period (2018–2023) to reach USD 49,996.4 thousand by 2023. The market is driven by factors such as increasing use of sodium nitrate in agriculture, chemical, and food & beverage industries. Sodium nitrate is soluble in water and other solvents, and thus, it is an effective nutrient-release fertilizer. Sodium nitrate is available at a low cost as compared to all other nitrogen-based fertilizers. It also has a simpler manufacturing process comparatively, which includes only one-step chemical reaction from starting compounds such as nitric acid or ammonium nitrate. The low cost and easy manufacturing process of sodium nitrate have turned sodium nitrate as the material of choice for most vendors. Subsequently, it is widely used for diverse applications.

  3. Europe Sodium Nitrate Market Based on grade, the sodium nitrate market is categorized into industrial, food grade, and pharmaceutical grade of which industrial grade held the largest share in the European sodium nitrate market. The low cost and easy manufacturing process of sodium nitrate have turned sodium nitrate as the material of choice for most industrial vendors. On the basis of end use, the sodium nitrate market is categorized into agriculture, chemical, food and beverages, pharmaceutical, and others. The agriculture industry is estimated to be the largest end-use category in the market in 2017. This is primarily due to the growing demand of fertilizers.

  4. Europe Sodium Nitrate Market Geographic Overview: Increasing demand of penicillin in European countries acts as an opportunity for the European sodium nitrate market. Sodium nitrate is utilized in penicillin medium preparation along with other salts such as MgSO4, K3PO4, and others. According to the World Health Organization (WHO), many countries such as France and Portugal are facing the shortage of penicillin due to increasing number of rheumatic heart diseases which develop from simple untreated throat infection. Thus, an increase in penicillin production is anticipated in the coming years. Thus, increase in penicillin production assists in sodium nitrate market expansion in Europe.

  5. Europe Sodium Nitrate Market Competitive Insight Some of the major players operating in the Europe sodium nitrate market are BASF SE, Merck KGaA, Honeywell International Inc., Union Group Chemical Company S.L., GrupaAzoty SA, abcr GmbH, URALCHEM Holding P.L.C., PJSC Concern Stirol, PJSC Severodonetsk “Azot”, Neochim Plc, and JSC «Farg’onaazot». Explore Full Report Sample at: https://www.vynzresearch.com/chemicals-materials/europe-sodium-nitrate-market

  6. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

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