Sodium Nitrite Market: An Overview
Sodium nitrite (NaNO2) is an inorganic chemical compound, with pale yellow color, and hygroscopic in nature. It is one of the important precursors in the manufacturing of variety of organic compounds. Its trade is subjected to various regulations across the globe. The major applications of sodium nitrite are in meat processing and pharmaceuticals. It is also used in the manufacturing of diazo chemical compounds, dyes, and other chemicals. Sodium nitrite in its preservative form is approved by EU & USA. Several grades of sodium nitrite are available in the market including technical grade, anti-caking technical grade, food grade, and food grade with reagent.
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Sodium Nitrite Market: Dynamics
Sodium nitrite is one of the widely used food preservatives in the market. Preferentially, in the meat preservation process, it imparts reddish-pink color to the meat as well. The demand for sodium nitrite from meat processing is expected to remain moderate with the growing developments of alternate preservatives. It is used in the manufacturing of nitrous-based dyes & pigments. The demand from this industry is expected to remain low due to global slowdown of the nitrous dye industry. Sodium nitrite is also functioned as corrosion inhibitor in paints, antifreeze, pipelines, and oil tanks. In the metal industry, it is prominently used as an oxidizing agent, including in tin metal ditinning . It acts as a polymer inhibitor for synthetic rubber and also as antioxidant & antiozonant that are used as rubber additive. The growth of the rubber industry is likely to increase the demand for sodium nitrite. Sodium nitrite is used in the energy sector too. It acts as heat transfer salt in large air conditioning systems & industrial refrigeration. The demand for sodium nitrite as a coolant is expected to increase with the growing need for efficient cooling in refrigeration systems.
Fluctuations in raw material prices and implementation of stringent trade regulations across the world are the key restraints affecting the growth of the sodium nitrite market. The fluctuations in crude oil prices also affect the sodium nitrite pricing. The global trade of sodium nitrite is affected by the trade war between global economies such as Japan & South Korea, China and the U.S., and others. Manufacturers in China have been reported to operate at reduced capacities.
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Sodium Nitrite Market: Segments
On the basis of grade, the sodium nitrite market can be segmented into-
- Food Grade
- Technical Grade
On the basis of end-use industry, the sodium nitrite market can be classified into-
- Dyes & Pigments
- Construction Chemicals
- Meat Processing
On the basis of geographical region, the market is segmented into-
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Sodium Nitrite: Regional Outlook
The global demand for sodium nitrite is expected to experience low to medium growth with the implementation of stringent trade laws and increased anti-dumping duties. The Asia-Pacific region is expected to remain the highest consumer of sodium nitrite provided by Chinese manufacturers and growing meat processing industries in the region. The demand in North America & European regions is expected to remain moderate due to slowdown of dye & pigment and rubber industries. Middle East & Africa and Latin America regions are expected to experience slow to medium growth due to uncertainties caused by the political instabilities in the region.
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Sodium Nitrite: Key Players
The global sodium nitrite market is highly fragmented. A portion of the sodium nitrite is produced for captive use by the manufacturers. However, the global key players in the market include BASF, Concern Stirol, Deepak nitrite ltd, Hualong Ammonium Nitrate Co., Ltd., Weifang Haiye Chemistry And Industry Co. Ltd, Linyi Luguang Chemical Co., Ltd, Xiangyang Zedong Chemical Co., Ltd, URALCHEM, Radiant Indus chem Pvt Ltd, Planet Chemicals Pte Ltd, and others.
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