Europe Sodium Nitrite Market Size & Outlook, 2023-2030
Europe sodium nitrite market, 2018-2030 (US$M)
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Europe sodium nitrite market highlights
- The Europe sodium nitrite market generated a revenue of USD 71.6 million in 2023.
- The market is expected to grow at a CAGR of 2.9% from 2024 to 2030.
- In terms of segment, corrosion inhibitors was the largest revenue generating grade in 2023.
- Other Applications is the most lucrative grade segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 71.6 million |
| Market revenue in 2030 | USD 87.3 million |
| Growth rate | 2.9% (CAGR from 2023 to 2030) |
| Largest segment | Corrosion inhibitors |
| Fastest growing segment | Other Applications |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Food & Beverages, Corrosion Inhibitors, Dyes & pigments, Pharmaceuticals, Other Applications |
| Key market players worldwide | ICL Group Ltd, Basf SE, SABIC, Deepak Fertilisers, Jiangsu Fengshan Group, UralChem, Radiant Indus Chem |
Other key industry trends
- In terms of revenue, Europe region accounted for 17.3% of the global sodium nitrite market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 429.4 million by 2030.
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Sodium Nitrite Market Scope
Sodium Nitrite Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe sodium nitrite market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to sodium nitrite market will help companies and investors design strategic landscapes.
Corrosion inhibitors was the largest segment with a revenue share of 24.58% in 2023. Horizon Databook has segmented the Europe sodium nitrite market based on food & beverages, corrosion inhibitors, dyes & pigments, pharmaceuticals, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
In the European Union, sodium nitrite has been approved as a food additive. It is used for preventing microbial growth in cheese, meat, and fish products. Sodium nitrite, found in meat and fish products, improves flavor while also protecting against botulism.
Additionally, the corrosion inhibitors market is gaining popularity in European countries due to rapid urbanization and industrialization. This can be attributed to the fact that corrosion inhibitors play a major role in increasing the service life of equipment by forming a protective layer on the surface in multiple industries.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe sodium nitrite market , including forecasts for subscribers. This continent databook contains high-level insights into Europe sodium nitrite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe sodium nitrite market size, by country, 2018-2030 (US$M)
Europe Sodium Nitrite Market Outlook Share, 2023 & 2030 (US$M)
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