Sodium Nitrite Prices, Trend, Monitor, Analysis and Forecast

Sodium Nitrite Prices Second Quarter 2024:

China: 419 USD/MT

The latest report by IMARC Group, titled "Sodium Nitrite Prices Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of price trends. This report delves into the Price of Sodium Nitrite globally, presenting a detailed analysis, along with an informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to provide context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasting, making this Price report an invaluable resource for industry stakeholders.

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Key Highlights of the Sodium Nitrite Price Trend

The sodium nitrite prices are being driven by its expanding use in diverse industrial applications, stringent regulatory frameworks, and increasing demand from emerging economies. Sodium nitrite is primarily used as a preservative and color fixative in the food industry, which sustains its demand. Additionally, its role in the chemical sector as an intermediate in the production of dyes, pharmaceuticals, and rubber accelerates its market growth. The rise in industrial activities and infrastructural development in emerging economies, particularly in Asia-Pacific, fuels the demand for sodium nitrite for use in various chemical processes. Regulatory pressures also impact the market; the need to comply with environmental and safety regulations drives the industry towards improved and more efficient production methods.

Sodium Nitrite Price Analysis –Quarter 2, 2024

In North America

In Q2 2024, sodium nitrite prices in North America experienced a noticeable price increase, primarily driven by heightened consumer demand from the industrial, food, and beverage (FB) sectors. As summer approached, the need for food preservation intensified, pushing prices up. Rising manufacturing costs, fueled by higher raw material prices and sustained demand, also contributed to the upward trend. Mid-quarter supply constraints and persistent upstream costs further propelled prices. Although business confidence slightly improved, overall demand outside the water treatment sector remained subdued. By the end of the quarter, ongoing supply issues and elevated freight costs due to geopolitical tensions continued to pressure prices despite positive signs in the U.S. economy.

In the Asia Pacific

Besides this, the APAC region saw a significant decline in Q2 2024, influenced by several factors. High inventory levels and slower consumer inquiries created downward pressure on prices. Despite robust industrial activity, the market was oversupplied, with ample material availability stifling new demand. In China, the market experienced notable volatility and price drops due to substantial existing inventories that dampened the typical seasonal demand increase. Both year-over-year and quarter-over-quarter, prices fell sharply, reflecting a persistent negative trend driven by an oversupply and sluggish procurement rates.

In Europe

Along with this, in Europe, the Sodium Nitrite prices faced persistent challenges during Q2 2024. Prices trended downward due to weak demand from the FB sectors and a struggling manufacturing industry. The Eurozone saw decreased new orders and a decline in manufacturing sentiment, contributing to the bearish market conditions. The latter part of the quarter saw further price drops driven by continued low demand and decreasing upstream raw material prices.

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Regional Price Analysis:

Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries.
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries.
North America: United States and Canada
Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries.
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries.

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.