Sodium Nitrite Price Trend, Historical Data, Index, Chart, News 2024, Analysis and Forecast
Sodium Nitrite Prices in China
·?????? China: 498 USD/MT
In Q4 2023, sodium nitrite in China dropped to 498 USD/MT, down 19% quarterly and 23% YoY, amid high supply, moderate demand, and strong import competition.
The latest report by IMARC Group, titled "Sodium Nitrite Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Sodium Nitrite Price Trend. This report delves into the Price of Sodium Nitrite globally, presenting a detailed analysis, along with informative Sodium Nitrite Price Chart. Through comprehensive Sodium Nitrite 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 Sodium Nitrite Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasting, making this Prices report an invaluable resource for industry stakeholders.
Sodium Nitrite Prices December 2023:
·?????? China: 498 USD/MT
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The study delves into the factors affecting Sodium Nitrite price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Sodium Nitrite Price Trend:
The sodium nitrite market is primarily driven by several key factors that contribute to its demand and growth. Its widespread application in the food industry as a preservative and color fixative plays a significant role. Sodium nitrite helps prevent the growth of harmful bacteria in processed meats, ensuring food safety and extending shelf life, which is crucial for the meat processing industry. Additionally, the expanding processed meat industry, driven by changing consumer lifestyles and preferences for convenient food options, fuels the demand for sodium nitrite. Processed meats such as bacon, sausage, and ham rely on sodium nitrite for preservation and flavor enhancement.
Furthermore, sodium nitrite finds extensive use in various industrial applications, including pharmaceuticals, agriculture, and wastewater treatment. In pharmaceuticals, it serves as a precursor for the synthesis of pharmaceutical compounds. In agriculture, it is utilized as a fertilizer and in pesticide formulations. Moreover, its role in controlling odors and removing heavy metals from wastewater contributes to its demand in environmental applications.
Sodium Nitrite Market Analysis:
The global sodium nitrite market size reached US$432.4 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 627.9 Million, at a projected CAGR of 4.20% during 2023-2032. In the fourth quarter of 2023, the sodium nitrite market in the USA experienced mixed sentiments influenced by various factors. Notably, subdued demand from downstream sectors such as food and beverages, along with other end-use industries, significantly impacted market sentiments.
Additionally, the influx of low-cost imports put downward pressure on prices, reflecting the sluggish pace of consumer inquiries. Whereas, in the APAC region, the sodium nitrite market maintained stability throughout the fourth quarter of 2023. Demand from the downstream food and beverages industry for sodium nitrite as a food preservative remained at a moderate level, with no notable influx of new orders from international consumer markets. However, domestic businesses faced competition from imports, particularly from China, despite sluggish demand observed in the eurozone and the United States.
In the fourth and final quarter of 2023, the European sodium nitrite market experienced a bearish trend, characterized by consistent price declines throughout the period. October saw prices dip due to weakened demand from downstream sectors, including food and beverages and other end-use industries. Manufacturing production in the Eurozone notably contracted, resulting in a significant decrease in new orders. Although there was a slight uptick in the manufacturing PMI, it signaled a prolonged downturn in the sector.
As November unfolded, prices continued their downward trajectory, driven by sustained low demand from downstream industries. Material availability remained ample in the consumer market despite ongoing challenges. While there was a slight improvement in the PMI, manufacturing activities remained on a downward trend. The supply chain gradually eased, and vendor performance improved amid persistently subdued consumer demand and limited market transactions.
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Key Points Covered in the Sodium Nitrite Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
·?????? Sodium Nitrite Prices
·?????? Sodium Nitrite Price Trend
·?????? Sodium Nitrite Demand & Supply
·?????? Sodium Nitrite Market Analysis
·?????? Demand Supply Analysis by Type
·?????? Demand Supply Analysis by Application
·?????? Demand Supply Analysis of Raw Materials
·?????? Sodium Nitrite Price Analysis
·?????? Sodium Nitrite Industry Drivers, Restraints, and Opportunities
·?????? Sodium Nitrite News and Recent developments
·?????? Global Event Analysis
·?????? List of Key Players
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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