Sodium Nitrite Prices

Sodium Nitrite Prices June 2024

During the second quarter of 2024, the sodium nitrite prices in China reached 419 USD/MT in June. The market experienced a significant decline due to high inventory levels, sluggish demand and oversupply. This resulted in notable price adjustments mainly in China, reflecting a bearish market sentiment.

Sodium Nitrite Prices March 2024

During the first quarter of 2024, the sodium nitrite prices in China reached 456 USD/MT in March. The region experienced a significant decline in sodium nitrite prices due to low demand, ample material availability, and weak market dynamics in China.

Sodium Nitrite Prices December 2023

The sodium nitrite prices in China for Q4 2023 settled at 498 USD/MT in December. The region experienced substantial price adjustments in response to market conditions. The domestic market was oversupplied, leading to downward price revisions as sellers competed for market share in a challenging environment. This period was also marked by moderate demand, influencing overall market outlook negatively. As manufacturers and suppliers navigated these conditions, the market dynamics reflected a cautious approach to inventory and pricing strategies to align with the broader economic and competitive landscape.

Regional Coverage

The report provides a detailed analysis of the sodium nitrite 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 nitrite price trend.

Global Sodium Nitrite Price

The report offers a holistic view of the global sodium nitrite pricing trends in the form of sodium nitrite 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 the current price but also provides insights into sodium nitrite historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into sodium nitrite 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 nitrite 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 Nitrite Price

Q2 2024:

In Q2 2024, the European sodium nitrite market faced ongoing challenges. Prices continued to decline due to low demand from industries such as food and beverages, as well as a decrease in manufacturing activity across major European economies. Supply chain operations improved slightly, but market sentiments continued to be pessimistic. Global trade was also impacted by supply chain disruptions mainly caused by external factors, further leading to delays and increase in freight charges. High interest rates also added to the market's difficulties.

Q1 2024:

In Q1 2024, the sodium nitrite market in Europe encountered significant issues. Prices continued to decrease as inquiries from industries like food and beverages remained subdued. In the Eurozone, the manufacturing sector struggled due to the declining new orders and manufacturing PMI. Continuously sluggish demand led to further price drops, while supply chains improved, international trade faced restrictions due to external factors. Overall, the market experienced substantial declines due to the continuous demand issues and disturbances in trade.

Q4 2023:

The market in Europe was marked by a continued price decline in the final months of 2023, reflecting persistent challenges across the sector. The initial price drop in October was driven by a reduction in demand from key sectors such as food and beverages, compounded by a general slowdown in production output across the Eurozone. Despite a marginal recovery in manufacturing purchasing managers index, the market did not rebound, and subdued demand persisted. As the year progressed, material availability remained high, but consumer and industrial output did not pick up, leading to an ongoing decrease in prices. The situation was exacerbated by end-of-year destocking and reduced operational rates at production facilities, further depressing the market.

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

North America Sodium Nitrite Price

Q2 2024:

In Q2 2024, the sodium nitrite market experienced a notable upswing in North America. This was driven by the approaching summer season, which leads to rise in product demand from food and beverage, and industrial sectors, leading to higher prices. Production costs rose throughout the quarter as raw material prices increased and end use industry demand stayed strong. Despite tight supplies, domestic demand remained robust, causing sodium nitrite prices to rise further in the final month. Supply chain issues coupled with geopolitical concerns also contributed to heightened freight charges.

Q1 2024:

In Q1 2024, the sodium nitrite market in North America saw fluctuations in pricing. There was optimism in January due to increased manufacturing and rising consumption in food and beverage sector. However, prices dropped later in the quarter as demand slowed. Economic uncertainty decreased, but global trade encountered significant obstructions due to disruptions in the supply chain. Combined with high interest rates, these factors influenced the market in North America.

Q4 2023:

Throughout Q4 2023, the market in North America faced a downturn influenced by a combination of economic factors and market dynamics. A significant decrease in demand from industries like food and beverages was evident, coupled with an inflow of competitively priced imports. These elements pressured market prices downward. Notably in the United States, these market conditions led to heightened bearish sentiments as businesses navigated through an environment of ample supply but reduced procurement. Factors such as economic downturns dampened business confidence, resulting in lower orders from end-use sectors. Additionally, destocking practices became prevalent as firms anticipated reduced activity during the holiday season, adding to the subdued market activity.

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

Middle East and Africa Sodium Nitrite Price

The report explores the sodium nitrite 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 nitrite prices for countries can also be provided.

Asia Pacific Sodium Nitrite Price

Q2 2024:

In the second quarter of 2024, the Asia Pacific region experienced a notable decrease in sodium nitrite prices, impacted by factors such as high inventory levels, decreased consumer demand, and an oversupplied market. Despite strong industrial activity, demand did not rise significantly. China observed fluctuating market conditions. The usual seasonal increase in consumption of food preservation chemicals was subdued due to stock availability. By the end of the quarter, prices settled at a lower point, marking an overall bearish market environment.

Q1 2024:

In the first quarter of 2024, sodium nitrite prices in the Asia Pacific region decreased due to low demand in the food and beverage industry. Weak market dynamics in China, including low demand and excess inventories, contributed to the price drop. Additionally, reduced capacity and closures during the Lunar New Year holidays impacted market performance. Compared Q1 2023, a substantial decline in the prices was witnessed this year.

Q4 2023:

In the Asia Pacific, the market remained relatively stable during the fourth quarter of 2023. Demand in the food and beverages sector was consistent, albeit without substantial new inquiries from abroad. The market was particularly challenged by strong competition from imports, which influenced local pricing strategies and market sentiments. Despite these challenges, production within the region sustained a steady pace to meet the local demand. The market conditions in China were less favorable, characterized by an oversupply that led to a decline in prices as suppliers adjusted to remain competitive. The overall market dynamics were shaped by moderate demand levels and the strategic responses of local manufacturers to external competitive pressures.

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

Latin America Sodium Nitrite Price

The analysis of sodium nitrite 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.

Sodium Nitrite Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium nitrite Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of sodium nitrite 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 nitrite at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sodium nitrite price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sodium nitrite 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 Nitrite Market Analysis

The global sodium nitrite industry 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.

• Sodium nitrite serves as a crucial preservative in the food industry, particularly in processed foods like bacon, sausages, and ready-to-eat meals. The demand for preservatives is expected to grow due to the increasing need for convenient, processed foods with extended shelf life, driving market expansion. Moreover, sodium nitrite also assists in inhibiting the growth of harmful bacteria, such as clostridium botulinum, preventing foodborne illnesses and extending the shelf life of meat products. According to the report published by the World Health Organization (WHO), every year, 600 million people suffer from foodborne illnesses, leading to 420,000 deaths globally. 30% of these deaths affect children under 5.
• Sodium nitrite finds applications in various industries, including pharmaceuticals, agriculture, and wastewater treatment. The market is witnessing diversification as manufacturers explore new applications and technologies for sodium nitrite across these sectors. As per the United States Food and Drug Administration (FDA), sodium nitrate is widely employed as a flavour enhancer, flavouring agent or adjuvant, Ph control agent, and processing aid.
• Sodium nitrite has applications in the medical field, particularly in treating cyanide poisoning. It works by inducing methemoglobinemia, which helps to counteract the effects of cyanide on the body’s cells. As safety standards and medical protocols evolve, the demand for effective antidotes such as sodium nitrite increases, contributing to the market growth. As per the data from the National Library of Medicine, approximately 35% of all fire victims will suffer from toxic levels of cyanide in their blood. It is advised to give sodium nitrite of 300 mg ampule or 10mg/kg IV for 3 to 4 minutes in adults, and pediatric patients the dose is 0.2mL/kg, not to cross 10 mL in pediatric patients.
• Sodium nitrite serves as a key intermediate in the production of various chemicals, including dyes, pesticides, and organic compounds. The expansion of the chemical industry, driven by factors such as industrialization, urbanization, and infrastructure development, boosts the demand for sodium nitrite as a raw material.

Product Description

Sodium nitrite, with the chemical formula NaNO2, is a salt of nitrous acid. NaNO2 is typically produced by the reaction of sodium nitrate with nitrous acid or by the reduction of sodium nitrate with a suitable reducing agent, which may be sodium sulfide or iron. In many industries, sodium nitrite is used for various purposes. For instance, when NaNO2 is combined with food, it ceases reactions with bacteria, including Clostridium botulinum, which leads to botulism. Other uses of sodium nitrite include making dyes, pharmaceuticals, and rubber chemicals. Moreover, sodium nitrite is used for the production of nitrous oxide, a gaseous anesthetic. In the metallurgical industry, NaNO2 is used in the cleaning and inhibition of metal surfaces.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sodium nitrite 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 nitrite 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 nitrite price charts ensure our clients remain at the forefront of the industry.