According to the official authorities of the Philippines, only 42% of the total groundwater is free from contamination.
According to MarkNtel Advisors study, The Philippines Sodium Nitrate Market size is estimated to grow at a CAGR of around 5.9% during the forecast period, i.e., 2024-30.
Consumers are increasingly transitioning towards a protein-rich diet to maintain their fitness & fulfill the nutritional requirements of their bodies. Therefore, the demand for meat & related products is amplifying in the Philippines. These meat-based products require optimal temperature & storage conditions to maintain their quality. Therefore, there is a need for chemicals, like sodium nitrate to prohibit bacterial growth. Hence, the rising demand for protein-rich foods is posing an opportunity for the prominent market players to supply sodium nitrate to the end-users, augmenting the market growth.
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Market Trend: The Philippines has one of the largest Lithium reserves among the Southeast Asian countries due to which the nation is emerging as one of the top suppliers of the lithium mineral. The exports of the Lithium mineral accentuate the economic development of the country. As a result, the government of the Philippines is boosting the mining activities in the nation. This mining exploration essentially requires black powder made up of sodium nitrate to cause an explosion at the mining site. Therefore, the growing mining activities are resulting in a higher demand for sodium nitrate, enlarging the market size.
Philippines Sodium Nitrate Market Key Players:
SBS Philippines Corporation, Acf Nitratos S.A, Silverline Chemicals, Aldebaran Sistemas, Hach, Pon Pure Chemical, Brenntag Ingredients Inc., Sumitomo Chemical Co., Ltd., Yingfengyuan Industrial Group Limited, Ube Corporation, and others
Market Segmentation Overview:
By Grade
-Industrial
-Pharmaceutical
-Food
Industrial grade holds a notable share in the Philippines Sodium Nitrate Market. The country is an emerging hub for a wide range of industries due to government favorable policies. Industries like glass & ceramics, F&B, etc., excessively use sodium nitrate along with other chemicals during the development phase to enhance the quality of the product. The nation has prominent leisure & attraction sites and holds regular sports events. As a result, there has been a significant rise in the arrival of inbound tourists in the nation. Consequently, this is facilitating the requirement for accommodation facilities.
Hence, to provide a world-class experience to travelers, eminent hotel groups are building their hotels & resorts in the Philippines. These buildings & architectural units require glass & ceramic structures, boosting their demand in the nation. Hence, to provide sufficient building & construction materials, industries are amplifying their production. Thus, the extensive application of sodium nitrate within the industrial sector is helping to enhance the market size & market growth.
By Application
-Chemicals
-Fertilizers
-Explosives
-Glass
-Pharmaceuticals
-Food & Beverage
-Others
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By Region
- Luzon
- Visayas
- Mindanao
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Global Sodium Nitrate Market – https://www.marknteladvisors.com/research-library/sodium-nitrate-market.html
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