Sodium nitrite is a solid chemical substance which is found in nature in the form of a white or yellow powder, and is naturally hygroscopic - that is it attracts water from the environment. This substance is utilized in various industries ranging from pharmaceutical to food processing to industrial machinations. Another prominent application of this substance lies in the dye industry, where it is used for the production of diazo dyes, utilized subsequently in the textile industry.
Owing to the wide number of applications this substance is used in, its demand throughout the industrial sector is set to grow in the period 2020 to 2030 as some of the end-use industries continue to grow steadily, states Transparency Market Research.
Global Sodium Nitrite Market: Competitive Landscape
Several manufacturers are looking to cash into the sodium nitrite market owing to the wide number of sectors it is employed in. The market scenario is fragmented owing to the presence of a large number of manufacturers globally and the degree of fragmentation will grow with entry of new players. Some of the prominent ones are mentioned below-
These manufacturers are set to increase production and market outreach by acquisitions of smaller production facilities globally. Numerous other organic and inorganic growth strategies mark the market landscape.
Given that meat production has risen by 2.5 times in 50 years in North America and Europe, these two regions are market leaders as far as the demand for sodium nitrite is concerned. Add to this the growth of healthcare facilities in these regions and the sodium nitrite market in these regions demonstrates a healthy outlook for the future.
The Asia Pacific region (APAC) is expected to show the fastest growth for the sodium nitrite market owing to the increased demand for textiles in this region, and the fact that meat production here has risen by 15 fold in the last 50 years. As nations in this region turn to export of meat, additives like sodium nitrite become important.