DUBLIN, Feb. 19, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/bl6q5h/global_sodium) has announced the addition of the "Global Sodium Nitrate Market 2016-2020" report to their offering.
The global sodium nitrate market to grow at a CAGR of 3.59% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global sodium nitrate market for the period 2016-2020. To calculate the market size, the report considers the volume sales of sodium nitrate. It presents the vendor landscape and a corresponding detailed analysis of the top five vendors in the global sodium nitrate market. The report also includes a discussion of the key vendors operating in this market.
Sodium nitrate is a crystalline salt used to make fertilizers and gunpowder. It is found in the Earth's crust in mineral deposits called caliche ore. Chile and Peru are the global leaders in the production of sodium nitrate; that is why it is also known as Chile or Peru saltpeter.
Growing energy requirements and concerns regarding environmental pollution and carbon emissions have led to the development of alternative energy sources such as solar energy. Sodium nitrate is a component in batteries used in solar power plants. Each megawatt of solar power requires almost 320 metric tons of sodium nitrate. This has led to an increase in the demand for sodium nitrate across the world.
According to the report, growing concerns regarding environmental pollution have led organizations around the world to shift to the use of biofuels such as biodiesel and ethanol. Stringent government regulations mandating the blending of automobile fuels with alternative fuel sources to increase fuel efficiency and reduce pollution are coming into effect.
Further, the report states that the excessive use of fertilizers in countries such as India and China has resulted in the deterioration of soil health. This will lead to a productivity in lands, which will lead to a decline in demand for fertilizers.
- Dahua Group Dalian Chemical Industry
- Hangzhou Xinlong Chemical
- Liuzhou Chemical Industry
- Rashtriya Chemicals and Fertilizers
- Shandong Haihua Group
Other prominent vendors
- HuaQiang Chemical Group
- Shanxi Jiaocheng Hongxing Chemicals
- Anhui Huaertai Chemical
- Jiangsu Huaihe Chemicals
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SOURCE Research and Markets