Sodium Nitrate Market Share, Growth Analysis 2022-28

The global sodium nitrate market size was valued at USD 237.5 million in 2021 and is poised to grow at a significant CAGR of 6.2% during the forecast period 2022-28. The growth in demand for sodium nitrate fertilizers in agriculture and the food industry is driving the worldwide sodium nitrate market. Sodium nitrate fertilizers work as oxidizers, increasing soil fertility and providing crops with vital nitrogen nutrients. Price and raw material demand/supply fluctuations are projected to impede the sodium nitrate market throughout the forecast period. The COVID-19 virus has damaged economies around the world and wreaked havoc on supply chains in various industries.