Sodium Azide Market Eye Witnessing Monumental Rising Growth Till 2030-
The global sodium azide market size is expected to gain momentum owing to the rising product demand in the automotive and agriculture industry during the projected period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Sodium Azide Market, 2022-2029.” The product finds its usability in several industrial applications such as preservative of samples and stock in chemical laboratories, automobile airbags, hospitals, probe reagents, preservatives, nitridizing agents, and cytochrome oxidase inhibitor.
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Stringent Government Restrictions to Obstruct the Market
The health crisis caused by the emergence of COVID-19 had caused peerless impacts on companies in the sodium azide market growth, unlike other industries. The pandemic had repercussions not only on the interaction between producers and end-users; but also on the environment, disrupting the supply chain. From production end to consumption end across the globe the health crisis arrested public economy and mobility, subsequently producing a negative impact on the market.
Based on application, the sodium azide market distributes into probe reagent, preservative, nitridizing agent, cytochrome oxidase inhibitor, and propellant in airbags. Finally, by geography, the market distributes into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa.
What does the Report Offer?
The market research report for sodium azide offers unified information on:
- Key drivers
- Opportunities driving the market
- Growth drivers
- Key players dominating the market
- Challenges and restrictions
- Important industrial developments
Drivers & Restraints:
Government Regulations to Improve Safety to Expand the Market
The increment in demand from the agriculture and automotive industry is likely to expand the sodium azide market growth. Its usage in several industrial applications such as the agriculture industry for pest control and the product’s ability to convert itself in nitrogen gas into airbags in the automotive industry is likely to foster market growth. The rising safety concerns and the stringent government regulations are likely to expand airbags’ market demand thereby elevating market growth. Contrarily, the toxicity of sodium azide and the hazardous health concerns caused upon inhaling the chemical may restrict the market growth.
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Increasing Airbags Demand to Prosper the Market in Asia-Pacific
Asia-Pacific holds the dominant sodium azide market share, owing to the increasing acquisition of automobile airbags.
North America is likely to hold the second-largest market share. The growth is due to the increased usage of the product in the agricultural industry, especially in the U.S. and Canada.
Higher Investments by Industrialists to Bolster Positions
The major players driving the market are making vast investments in different regions to refinements in their benefactions. Acquisition of business strategies such as sales contracts, strategic alliances, product approvals, procurement of technical expertise, patents and events, collaborations, joint ventures, partnership agreements, are anticipated to lead the global market for sodium azide.
- October 2021: Biotech plans to build a facility to manufacture its mRNA vaccines in Africa from mid-2022 and elevate the production of its COVID-19 jab for a region that is largely lagging in the global rollout of vaccines.
List of Key Players Profiled in the Global Market for Sodium Azide:
- Island Veer Chemie Pvt. Ltd.
- ARNISH LABORATORIES PRIVATE LIMITED
- Azide & Allied Chemicals
- RCHEM Group
- American Pacific
- American Azide Corporation(AAC)
- Chemical Laboratories
- Pharma Compass
- POWDER PACK CHEM
- American Elements
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