Sodium nitrate price October 2024 and outlook (see chart below)
- North America:US$1.57/KG, 1.3% up
- Europe:US$0.99/KG, 2.1% up
- South America:US$0.91/KG, 3.4% up
Business Analytiq assumes no responsibility or liability for any errors or omissions in the content of this site. The information contained in this site is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness, or timeliness.
Sodium nitrate price index
This post is a summary of the Sodium nitrate price developments. The price developments of Sodium nitrate are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Sodium nitrate price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.
The outlook for Sodium nitrate prices, on the second tab, is generated from different inputs including:
- Very recent price developments of immediate cost drivers of Sodium nitrate prices
- Recent price developments of underlying feedstocks which drive the price of Sodium nitrate
- Market futures for both cost drives and feedstocks of Sodium nitrate prices
- Adjustment of current supply/demand imbalances in the Sodium nitrate market
- Longer term trends in likely demand conditions
Further information on the Sodium nitrate price chart
What is sodium nitrate
Sodium nitrate (NaNO3) is a white crystalline compound that is commonly used in the production of fertilizers, food preservatives, and pyrotechnics. It is also known as Chile saltpeter, and it occurs naturally in some regions of Chile, where it was historically mined for its use in explosives and fertilizers.
Sodium nitrate is a strong oxidizing agent, which means it has the ability to transfer oxygen atoms to other substances. This property makes it useful in the production of pyrotechnics and explosives, where it is often mixed with other chemicals to create highly reactive compounds.
In the food industry, sodium nitrate is used as a preservative in cured meats, such as bacon and ham. It helps to prevent the growth of harmful bacteria and can also enhance the color and flavor of the meat.
However, there are concerns about the potential health risks associated with high levels of sodium nitrate consumption. In large quantities, it can cause methemoglobinemia, a condition in which the blood is unable to transport oxygen effectively. Therefore, the use of sodium nitrate in food products is regulated and limited by health and safety authorities in many countries.
How is sodium nitrate produced
Sodium nitrate, also known as Chile saltpeter, can be produced using several methods, including:
Natural deposits
Historically, sodium nitrate was mined from natural deposits in the Atacama Desert in Chile. The mineral was extracted using a process called heap leaching, where water is applied to the mineral-rich soil to dissolve the sodium nitrate, which is then collected and purified.
Synthesis from nitric acid and sodium hydroxide
Sodium nitrate can also be produced by reacting nitric acid (HNO3) with sodium hydroxide (NaOH) to form sodium nitrate (NaNO3) and water (H2O). This method is known as the neutralization process.
Synthesis from ammonia and nitric acid
Another method of producing sodium nitrate involves reacting ammonia (NH3) with nitric acid (HNO3) to form ammonium nitrate (NH4NO3), which is then heated to decompose into sodium nitrate and water.
Synthesis from nitrogen gas and sodium hydroxide
Sodium nitrate can also be produced by reacting nitrogen gas (N2) with sodium hydroxide (NaOH) in the presence of a catalyst, such as iron or nickel. This method is known as the Haber process and is commonly used to produce ammonia for fertilizer production.
The method used to produce sodium nitrate depends on the availability of raw materials and the desired purity of the final product.
What is sodium nitrate used for
Sodium nitrate (NaNO3) is used for a variety of applications across several industries, including:
Fertilizers
Sodium nitrate is used as a nitrogen fertilizer in agriculture to provide essential nutrients for plant growth. It is also used in the production of other nitrogen fertilizers like ammonium nitrate and urea.
Food preservatives
Sodium nitrate is used as a food preservative to prevent the growth of bacteria, fungi, and other microorganisms in cured meat products like bacon, ham, and sausages.
Glass manufacturing
Sodium nitrate is used as a flux in the production of glass, where it helps to lower the melting point of the glass and improve its clarity.
Industrial chemicals
Sodium nitrate is used in the production of several industrial chemicals, including nitric acid, potassium nitrate, and ammonium nitrate. It is also used in the production of explosives, such as dynamite and gunpowder.
Heat transfer fluids
Sodium nitrate is used as a heat transfer fluid in solar power plants, where it is used to store and transfer heat generated by the sun to power turbines and generate electricity.
Other applications
Sodium nitrate is also used as a metal surface treatment, in the production of ceramic glazes, and as a component in rocket propellants.
What types of sodium nitrate are there
There are several types of sodium nitrate that differ in their physical and chemical properties. Some of the common types of sodium nitrate are:
Technical grade sodium nitrate
This type of sodium nitrate is commonly used in the production of fertilizers and industrial chemicals. It has a purity level of around 95-98% and may contain impurities such as chloride, sulfate, and iron.
Food grade sodium nitrate
This type of sodium nitrate is used as a food preservative to prevent the growth of bacteria in cured meat products. It has a higher level of purity than technical grade sodium nitrate and is free from harmful impurities.
Pharmaceutical grade sodium nitrate
This type of sodium nitrate is used in the pharmaceutical industry as a vasodilator to treat angina pectoris, a type of chest pain caused by reduced blood flow to the heart.
Agricultural grade sodium nitrate
This type of sodium nitrate is used as a nitrogen fertilizer in agriculture to provide essential nutrients for plant growth. It has a lower purity level than technical grade sodium nitrate and may contain impurities such as calcium, magnesium, and potassium.
Other grades
Sodium nitrate may also be available in other grades, such as laboratory grade for research purposes, and industrial grade for various industrial applications.
How big is the sodium nitrate market
The global sodium nitrate market size was valued at USD 7.0 billion in 2020, according to a report by Grand View Research. The market is expected to grow at a compound annual growth rate (CAGR) of 3.1% from 2021 to 2028.
The growth of the market is driven by the increasing demand for sodium nitrate in several end-use industries, such as fertilizers, food preservatives, and industrial chemicals. In the agriculture industry, sodium nitrate is used as a nitrogen fertilizer, which is necessary for plant growth. Additionally, the use of sodium nitrate as a preservative in the food industry is expected to drive market growth, as the demand for processed and packaged food products continues to rise.
The Asia-Pacific region is the largest market for sodium nitrate, due to the high demand for fertilizers and industrial chemicals in countries like China and India. The region is expected to continue to dominate the market in the coming years, driven by the increasing population, urbanization, and industrialization in the region.
According to https://oec.world/ :
Sodium nitrate, in packs >10 kg are the world’s 3750th most traded product.
In 2020, the top exporters of Sodium nitrate, in packs >10 kg were Chile ($72.6M), Germany ($32.1M), China ($11.7M), Denmark ($6.86M), and Netherlands ($5.5M).
In 2020, the top importers of Sodium nitrate, in packs >10 kg were United Arab Emirates ($50.5M), United States ($16.2M), Netherlands ($7.47M), Japan ($7.3M), and Sweden ($6.42M).
Which countries produce the most sodium nitrate
Historically, Chile was the largest producer of sodium nitrate, also known as Chile saltpeter, due to the natural deposits of the mineral in the Atacama Desert. However, in recent years, the production of sodium nitrate has decreased in Chile due to the depletion of natural reserves and environmental concerns. Currently, the largest producers of sodium nitrate are:
China
China is currently the largest producer of sodium nitrate, with an estimated annual production capacity of over 5 million metric tons. The country’s high production is due to the large demand for the mineral in the production of fertilizers and industrial chemicals.
India
India is the second-largest producer of sodium nitrate, with an estimated annual production capacity of around 1 million metric tons. The country’s high production is due to the large demand for the mineral in the agriculture sector.
Germany
Germany is a significant producer of sodium nitrate, with an estimated annual production capacity of around 500,000 metric tons. The country’s high production is due to the strong demand for the mineral in the chemical industry.
United States
The United States is also a significant producer of sodium nitrate, with an estimated annual production capacity of around 300,000 metric tons. The high production is due to the demand for the mineral in the production of fertilizers and industrial chemicals.
Russia
Russia is another significant producer of sodium nitrate, with an estimated annual production capacity of around 250,000 metric tons. The country’s high production is due to the demand for the mineral in the agriculture and chemical industries.
Further reading
NEED A QUICK DOWNLOAD?
ACCESS TO OUR FULL DATABASE IS US$399/YEAR, WITH A 30-DAY $30 TRIAL
GET THAT DOWNLOAD IN 3 MINUTES!
BusinessAnalytiq provides a database of hundreds of market & price trend data, as well as online tools to set up benchmarks and leading indicators.
Where does the data come from?
- The source of the data are exclusively public non-confidential sources. We have no access to primary data
- This the index trend of the price trend of the "product category" in general, and not a single specification of the product in particular
- The data is a combination of contract and spot pricing
- Our algorithms are set up to eliminate significant product mix impact on the reported price
- We combine public publications, import/export records, trading prices, company announcements, magazine articles, tweets, and other sources of ad-hoc public information.
- The chart shows the our best approximation of the market trend based on our algorithm interpretation of the signals
- For most indexes we have multiple sources and we focus on using statistically-correlated sources
- As a function of our automation, it is likely that recent trends will be adjusted as we discover more information. So, for example, the price trend for February 2024 will be first calculated in February 2024 and adjusted in March, April and May 2024.
- We will update the data trend as more information becomes available, and this means that recent trends will always be adjusted as we get more data available
- The algorithm will regularly revise our understanding of market trends, and indicated market trends may change
- The data is presented in US$. The UOM of measure is shown in the Index list table
- Our automated software and we do our best to create an accurate representation of the trend
Where does the data NOT come from?
- We do not purchase data from any other source and republish it.
- We will not purchase data from any other source and republish it
- We do not extrapolate trends, even for the forecast. We look for other market signals and leading indicators
What data should our company use?
- If you are making decisions driving significant share of profit, we always recommend that you buy data from the companies who invest in direct primary market access such as ICIS, amongst many others
- Our data, at best, represents an estimate of the market trend based on public information
- We have no direct access to the market, and we do not interview suppliers and customers
- Our automated analysis tools in the online software are set up to combine our data with other sources of data
- We do not recommend that you use our data for direct price mechanisms, as we may change and improve the data trends over time, including historical data
What does the quality indication in the main menu mean?
- Quality level A: Data is from a reliable and confirmed source
- Quality level B: Data is from multiple credible sources and there are no major statistical inconsistencies between them
- Quality level C: Data is from multiple credible sources and there are some statistical inconsistencies between them
- Quality level D: Data is from a single credible source, but we cannot verify the data
- Quality level E: Data is either:
- From a single source, which we consider reliable, but we cannot verify the data.
- From 2 or more sources which have some periods of contradicting trends.
- Quality level F: Data is from a single source which we consider indicatively correct, but the data is anecdotal and we cannot verify the data.
What are the disclaimers?
- We assume no responsibility or liability for any errors or omissions in the content of this site.
- The information is provided on an “as is” basis with no guarantee of completeness, accuracy, usefulness, fitness for purpose or timeliness.
- By their nature, outlooks are always uncertain
How often do we update the data?
- We aim to update the data series on the 9th and 24th of each month (but we do not always make it for each chart)
- The data for the current month and recent history are fine-tuned over time.
What are we doing to improve the data?
- We are continually improving our data collection and processing methods
- Pricing data will be updated from time to time as we improve the accuracy
- We are reviewing all data sources in the first half of 2024.
- There will be continuous fine-tuning of the trend and forecast algorithm as part of that.
- The key focus in 2024 is to add many additional indexes
How can i give feedback on the data or request for new indexes
- Feel free to contact us if you have a specific request. You can reach us via the Contact us page