Japan Sodium Nitrite Market Size & Outlook, 2023-2030
Japan sodium nitrite market, 2018-2030 (US$M)
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Japan sodium nitrite market highlights
- The Japan sodium nitrite market generated a revenue of USD 9.1 million in 2023 and is expected to reach USD 11.7 million by 2030.
- The Japan market is expected to grow at a CAGR of 3.7% from 2024 to 2030.
- In terms of segment, other applications was the largest revenue generating grade in 2023.
- Other Applications is the most lucrative grade segment registering the fastest growth during the forecast period.
Sodium nitrite market data book summary
| Market revenue in 2023 | USD 9.1 million |
| Market revenue in 2030 | USD 11.7 million |
| Growth rate | 3.7% (CAGR from 2023 to 2030) |
| Largest segment | Other applications |
| Fastest growing segment | Other Applications |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Japan accounted for 2.2% of the global sodium nitrite market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China sodium nitrite market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 86.1 million by 2030.
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Sodium Nitrite Market Scope
Sodium Nitrite Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan 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.
Other applications was the largest segment with a revenue share of 25.27% in 2023. Horizon Databook has segmented the Japan 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.
According to the International Trade Administration, Japan is the 3rd largest pharmaceutical market across the globe. The rising population along with investment in R&D activities for manufacturing advanced medicine is predicted to witness substantial growth in Japan. The promotion of generic drugs has boosted the market in recent years.
The aging population and increase in life expectancy will be the major driver for future development and lead to high demand for medical treatment. This is anticipated to drive demand for sodium nitrite used to manufacture various types of generic drugs and OTC medicines.
Japan is known for the variety of food products consumed by the vast population of the country. An increase in the working population is driving the demand for processed food that is ready to eat, easily available at every store, and can be consumed anytime. This is likely to fuel the growth of sodium nitrite market in the coming years.
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan sodium nitrite market , including forecasts for subscribers. This country databook contains high-level insights into Japan sodium nitrite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan sodium nitrite market size, by grade, 2018-2030 (US$M)
Japan Sodium Nitrite Market Outlook Share, 2023 & 2030 (US$M)
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