Sodium Nitrite Price Trend

Sodium Nitrite Prices December 2023

The price for sodium nitrite in China for Q4 2023, reached 498 USD/MT in the last quarter. The market sentiment was pessimistic in China with moderate to high supply levels of sodium nitrite leading to price drops as sellers adjusted their pricing strategies. Additionally, China's official purchasing managers' index (PMI) for manufacturing surpassed the 50-point mark, indicating growth in industrial activity. This uptick coincided with government initiatives aimed at boosting the economy. In Q4 2023, the price trend for sodium nitrite in China fell by 19%. However, when comparing the first and the second half of the quarter, the difference was 11%. In the end, when compared to the same period of the previous year, the price went down by 23%. Thus, the sodium nitrite during Q4 2023 was characterized by a volatile market situation, moderate demand, and competition from imports.

Sodium Nitrite Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium Nitrite Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” 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 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.

• Sodium nitrite is a key preservative in the food sector, especially in processing foods such as bacon, sausages, and cooked foods. Demand for the preservative is anticipated to keep rising as the demand for processed, convenient food products with a longer shelf-life is contributing to the market growth. The food preservatives market size reached US$ 3.1 Billion in the previous year - 2023. It is forecasted to reach US$ 4.3 Billion by 2032 as stated by the IMARC Group. 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.
• 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, sodium nitrate is widely employed as a flavor enhancer, flavoring 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 growth of its market. 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. According to the American Chemistry Council (ACC), the global chemical industry in 2024 is expected to grow at 2.9%. The chemical manufacturing market expanded by 0.3% in 2023 with the largest gains in Asia/Pacific.

Sodium Nitrite News

The report covers the latest developments, updates, and trends impacting the global sodium nitrite 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 nitrite production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sodium nitrite price trend.

Latest developments in the sodium nitrite industry:

• In April 2024, Sumitomo Chemical Co., Ltd. declared their intention to transfer all shares it currently owns in its two flat panel display (FPD) process chemical companies in China to Zhenjiang Runjing High Purity Chemical Technology Co., Ltd. (Runjing Tech). A share transfer agreement has been reached between the Group and Runjing Tech, with the transfer slated for completion on May 31, 2024.
• In October 2023, Diethelm Keller and SiberHegner (DKSH), a prominent distributor specializing in chemicals and ingredients, were entrusted with the responsibility of offering comprehensive services for Vink Chemicals' biocide portfolio in China. It comprises business development, marketing, sales, logistics, and distribution, catering to numerous applications such as water-based products, decorative coatings, paints, and emulsions.

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.

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 current price of sodium nitrite 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 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

The European sodium nitrite market witnessed a decline that consecutively favored low prices at the end of 2023. The fall in demand from the food and beverages industries had a significant effect on the market. Manufacturing in the Eurozone shrank with fewer new orders. In December, the prices continued to drop since the demand remained low. Downstream industries showed no interest, hence sending negative market signals. Besides, the price of upstream raw materials fell, and there was persistent factory gate deflation. Destocking during the year-end holidays led to reduced industrial activity, which made several manufacturers slow down or close temporarily.

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

North America Sodium Nitrite Price

In the fourth quarter of 2023, the sodium nitrite market in North America witnessed a mix of sentiments due to various factors. The decline in demand from major sectors such as food and beverages, alongside competition from low-cost imports, led to lower prices. Despite a well-supplied domestic market, there were large price fluctuations indicating a bearish trend. Economic uncertainties and minimal inquiries from downstream industries resulted in weak demand. Widespread destocking and reduced activity during year-end holidays further dampened the market, as manufacturing firms slowed or temporarily halted operations.

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

The sodium nitrite pricing in the Asia Pacific region exhibited relative stability. The demand was moderate, primarily as a food and beverage preservative, without notable surges in international orders. The slow demand from the eurozone and the U.S., coupled with stiff competition from China-imported sodium nitrite, influenced the market. Despite these challenges, domestic supply was sufficient, and manufacturers maintained stable production.

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.

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.