Sodium Bicarbonate Price Trend

Sodium Bicarbonate Prices December 2023

In Q4 of 2023, the price of sodium bicarbonate in the US market changed over the last three months. Initially, the price dropped due to a surplus, maintaining a lower level, but latterly- the quarter ended with a 3.14% average increase (435 USD/MT). During this period too, soda ash, a raw material used extensively, beheld a fall in the price.

In Q4 of 2023, the South Korean market for sodium bicarbonate faced the effect of soaring raw material prices estimated to increase prices. This trend indicates that people on average are becoming increasingly positive about buying sentiment. After the quarter the sodium bicarbonate CFR Busan was quoted at 340 USD/MT.

In Q4 2023, Belgium's sodium bicarbonate market encountered significant challenges due to escalating transshipment costs and diplomatic tensions in the Red Sea and Suez Canal, which delayed shipments. As a major importer, Belgium is notably affected by price fluctuations in exporting countries. Despite these obstacles, the average cost of sodium bicarbonate CFR Antwerp stabilized at 425 USD/MT by quarter's end, marking a 6.67% increase a clear sign of an upward price trend.

Sodium Bicarbonate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium Bicarbonate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of sodium bicarbonate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sodium bicarbonate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sodium bicarbonate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sodium bicarbonate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sodium Bicarbonate Market Analysis

The global sodium bicarbonate market size reached US$ 1.6 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.4 Billion, at a projected CAGR of 4.80% during 2023-2032.

• The increasing use in environmental applications, such as air pollution control where sodium bicarbonate is used to remove acidic contaminants from flue gases, a critical function in industrial waste management, is fueling the market.
• Considerable growth in the pharmaceutical sector contributes significantly to the demand for sodium bicarbonate, due to its use in dialysis processes and as an ingredient in antacids.
• The expanding food industry further propels market growth as sodium bicarbonate remains a staple in baking and food preparation.
• Shifting trends towards healthier lifestyles and eco-friendly products are also promoting its use in personal care products, where consumers favor natural ingredients.
• The market is witnessing a shift towards innovative, sustainable practices, with companies increasingly investing in production methods that minimize environmental impact.
• Rising adoption of greener manufacturing technologies and the development of sodium bicarbonate products that support sustainable agricultural practices.
• The beauty and personal care industry is leveraging sodium bicarbonate for its gentle exfoliating and odor-neutralizing properties.
• Innovative packaging solutions enhance the ease of use and storage, making the products more attractive to end consumers.
• Increased consumer awareness about the health and environmental impacts of synthetic chemicals has led to a rise in DIY (do-it-yourself) cleaning and personal care products.
• The textile industry, sodium bicarbonate is used as a safe and effective cleaning agent to treat wool and other natural fibers during the manufacturing process.
• Sodium bicarbonate is gaining popularity as a dietary supplement among athletes for its potential to buffer lactic acid produced during intense physical activity.
• In the livestock industry, sodium bicarbonate is used as a feed additive to help manage the acid-base balance in the digestive systems of ruminants, and it also helps in improving feed efficiency, milk yield, and overall animal health, driving its demand in the rapidly growing animal husbandry sector.
• The effectiveness of sodium bicarbonate as a fire extinguishing agent, especially in kitchen and electrical fires, is also driving its demand.

Sodium Bicarbonate News

The report covers the latest developments, updates, and trends impacting the global sodium bicarbonate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sodium bicarbonate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sodium bicarbonate price trend.

Latest developments in the sodium bicarbonate industry:

• On February 16, 2024, Tata Chemicals Limited partnered with IITB-Monash Research Academy to advance research in perovskite and clean energy technologies.
• On December 8, 2023, Dow launched two low-carbon caustic soda products, Caustic DEC and TRACELIGHT™ DEC, using renewable energy and certified by ISCC PLUS. These innovations align with Europe’s sustainability goals, maintaining quality while reducing customers' Scope 3 emissions.
• On June 16, 2022, Solvay Sodi expanded the Devnya plant in Bulgaria, boosting its sodium bicarbonate production capacity by 200,000 tons, making it the second largest in Europe and among the largest globally.

Product Description

Sodium bicarbonate, commonly known as baking soda, is a milky white crystalline chemical compound with the formula of NaHCO₃. Its production is predominantly accomplished via the Solvay process, a reaction involving combinations of sodium chloride, ammonia, and carbon dioxide in water. The compound is categorized into two primary types: technical grade, useful in industrial applications or mixed with something else, and food grade, which is used in cooking or baking. Sodium bicarbonate has become an indispensable product across most industries due to its unique properties like neutralizing pH, medium abrasives ability, and releasing carbon dioxide when heated or acidified.

Among its medical applications, it alleviates acid indigestion and kidney stones by balancing stomach acids. The eco-advantages of sodium bicarbonate lie in its application in eco-friendly detergents, where the non-toxic and biologically decomposable nature of sodium bicarbonate is utilized.

Regional Coverage

The report provides a detailed analysis of the sodium bicarbonate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sodium bicarbonate price trend.

Global Sodium Bicarbonate Price

The report offers a holistic view of the global sodium bicarbonate pricing trends in the form of sodium bicarbonate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of sodium bicarbonate but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sodium bicarbonate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sodium Bicarbonate Price

In the last quarter of 2023, the European sodium bicarbonate market has evidenced great price fluctuations, where volatility was more pronounced. The mentioned instability was a result of this overproduction at the very beginning of Q4. Which triggered the reduction of the demand and in turn, caused the prices to fall.

This analysis can be extended to include detailed sodium bicarbonate price information for a comprehensive list of countries.

North America Sodium Bicarbonate Price

In the last quarter of 2023, the sodium bicarbonate market of the North America region faced a number of pricing prerequisites. Primarily, a national market was flooded by the surplus, and prices dropped substantially. This was worsened by the situation where manufacturers were carrying a substantial amount of inventory, a product of the excess production done which surprisingly exceeded the demand. These factors combined to dismantle the parameters of demand and supply and this was only one of the things that depressed the prices throughout the first two months of the quarter.

Specific sodium bicarbonate historical data within the United States and Canada can also be provided.

Middle East and Africa Sodium Bicarbonate Price

The report explores the sodium bicarbonate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on sodium bicarbonate prices for countries can also be provided.

Asia Pacific Sodium Bicarbonate Price

The fourth quarter of 2023 in the APAC sodium bicarbonate market was impacted by various factors that had both negative and positive effects on market dynamics and prices. To begin with, demand was increasing due to constrained inventories and uncertainty in the market, especially among smaller manufacturing units. In response to these challenges, market players adjusted to the surplus stock and sluggish demand by lowering their prices. Despite these adjustments, prices began to rise as the quarter progressed, reflecting the complex interplay of market forces in the region.

This sodium bicarbonate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sodium Bicarbonate Price

The analysis of sodium bicarbonate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sodium bicarbonate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sodium bicarbonate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sodium bicarbonate price charts ensure our clients remain at the forefront of the industry.