For the Quarter Ending September 2025
APAC
• In India, the Nitrosylsulfuric Acid Price Index fell by 2.56% quarter-over-quarter, due to softer downstream demand.
• The average Nitrosylsulfuric Acid price for the quarter was approximately USD 254.43/MT, reflecting balanced demand.
• Domestic Nitrosylsulfuric Acid Spot Price softened as Nitrosylsulfuric Acid Production Cost Trend remained subdued throughout the quarter.
• Nitrosylsulfuric Acid Price Forecast points to limited volatility, driven by seasonal demand and improving port logistics.
• The Nitrosylsulfuric Acid Demand Outlook is cautious; the Price Index remained pressured by subdued industrial orders.
• Paradeep expansion and abundant sulphuric supply increased availability, reducing urgency and pressuring ex-location pricing margins.
• Red Sea geopolitics elevated freight and logistics costs, partially offsetting raw material price declines and supporting offers.
• Resilient FMCG and selective pharma restocking sustained intermittent demand, moderating downward movement in the Price Index.
Why did the price of Nitrosylsulfuric Acid change in September 2025 in APAC?
• Expanded domestic sulphuric output raised inventories, creating supply pressure that reduced Nitrosylsulfuric Acid Price Index in September.
• Elevated freight and longer transit times increased delivered costs, offsetting raw material price savings for producers.
• Weak dyes and pigment orders, despite FMCG resilience, constrained spot buying and limited price recovery momentum.
North America
• The regional Price Index for Nitrosylsulfuric Acid (NSA) firmed modestly through Q3 2025, with the Nitrosylsulfuric Acid Spot Price rising due to tighter merchant availability of high-purity reagent lots.
• Why September 2025 Changed: Prices increased in September 2025 as dye and pigment manufacturers accelerated raw material purchases ahead of Q4 production schedules. Additionally, maintenance shutdowns at certain intermediate chemical plants limited supply, contributing to price firmness.
• Key downstream sectors driving demand include dye and pigment manufacturing, diazotization and nitrosation chemistry for fine chemicals, caprolactam and cyclohexane intermediate synthesis, and pharmaceutical intermediates.
• Production Cost & Supply: The Nitrosylsulfuric Acid Production Cost Trend reflected upward pressure from higher sulfuric acid feedstock prices and energy costs. Freight and packaging costs for specialty acid solutions also edged higher during the quarter.
• Demand & Outlook: The Nitrosylsulfuric Acid Demand Outlook for Q4 2025 remains cautiously positive, supported by stable demand from textile and specialty pigment sectors. The Nitrosylsulfuric Acid Price Forecast suggests limited additional upside unless feedstock or logistics constraints intensify further.
Europe
• The European Price Index for Nitrosylsulfuric Acid remained stable to slightly lower throughout Q3 2025, as market participants balanced inventories with weak near-term order visibility.
• Why September 2025 Changed: Prices decreased in September 2025 amid subdued demand from dye and textile intermediates producers. Improved logistics and stable sulfuric acid availability eased pressure on suppliers, encouraging discounts in certain regions.
• Principal end-uses include azo-dye and pigment production, diazotization and nitrosation reactions for organic intermediates, nitration processes, and fine-chemical syntheses. These applications largely determine regional consumption trends.
• Production Cost & Supply: The Nitrosylsulfuric Acid Production Cost Trend moderated as sulfuric acid and nitric oxide feedstock prices stabilized. Additionally, reduced freight costs and increased imports from Asia contributed to a softer cost environment.
• Demand & Outlook: The Nitrosylsulfuric Acid Demand Outlook for Q4 2025 is neutral, with converters maintaining sufficient inventory levels. The Nitrosylsulfuric Acid Price Forecast indicates stable-to-slightly-lower prices unless a rebound in industrial demand materializes.
For the Quarter Ending June 2025
Asia-Pacific (India)
• The Nitrosylsulfuric Acid Price Index showed steady increases from April through June, with spot prices rising from USD 260/MT to USD 262/MT.
• Underlying strength in downstream sectors (pharma, dyes, FMCG) and constrained domestic availability supported the Nitrosylsulfuric Acid Spot Price through the quarter.
• July 2025 Price Change: In July 2025, the Nitrosylsulfuric Acid Price Index likely increased again—driven by robust FMCG and pharmaceutical demand, ongoing logistical tightening from Red Sea disruptions, and typical monsoon-season inventory restocking.
• Production & Cost Dynamics: The Nitrosylsulfuric Acid Production Cost Trend remained stable despite softening feedstock prices. Cost pressures from freight and regional transport delays helped sustain supplier margins and supported upward pricing.
• Demand Outlook: The Nitrosylsulfuric Acid Demand Outlook remains positive through July, supported by strong pharmaceutical intermediate needs, dye sector reactivation, and FMCG stability. Government initiatives and sustained consumption trends are expected to reinforce consumption into Q3.
Europe
• The Nitrosylsulfuric Acid Price Index likely fluctuated across the region in Q2 due to inconsistent industrial activity, variable pharmaceutical and specialty chemical demand, and occasional raw material cost volatility. Prices neither surged nor collapsed, reflecting a mixed regional outlook.
• July 2025 Price Change: The Price Index in Europe likely saw moderate price stabilization or slight uptick in July as regional pharma producers likely restocked ahead of Q3, while limited feedstock cost increases provided modest support.
• Production Cost & Supply Conditions: The Nitrosylsulfuric Acid Production Cost Trend in Europe would have been generally steady. Moderate energy and transport costs, combined with some reliance on imports, kept cost pressures contained. Occasional supplier maintenance may have limited local supply in select markets.
• Demand Outlook: The Nitrosylsulfuric Acid Demand Outlook remains cautious but stable. Demand from pharmaceutical and dye-intermediate applications is steady, while broader chemical demand depends on recovery in EU industrial output and downstream specialty markets.
North America
• In North America, the Nitrosylsulfuric Acid Price Index likely trended modestly upward through Q2, supported by steadier demand from pharmaceutical and specialty chemical sectors, alongside some supply constraints.
• July 2025 Price Change: For July, the Price Index likely registered a slight increase, driven by continued demand from API producers and intermittent tightness from import delays and freight cost pressures.
• Production & Cost Trend: The Nitrosylsulfuric Acid Production Cost Trend in North America remained relatively stable. Energy and raw material input prices stayed within moderate ranges; however, logistics fluctuations and feedstock sourcing complexities added mild upward pressure to costs.
• Demand Outlook: The Nitrosylsulfuric Acid Demand Outlook is solid, particularly in pharma and chemical intermediates. Demand from specialty applications is expected to stay resilient, although broader industrial demand may remain subdued unless construction or manufacturing pick up in late Q3.
For the Quarter Ending March 2025
North America
In Q1 2025, North America's Nitrosylsulfuric Acid (NSA) market faced challenges due to economic headwinds and shifts in key industries. The U.S. economy experienced a significant slowdown, with some estimates indicating a contraction in GDP during the first quarter. This economic downturn was partly attributed to businesses stockpiling goods ahead of increased tariffs, leading to a record-high goods trade deficit in March.
The pharmaceutical industry, however, showed resilience. Pfizer reported strong first-quarter 2025 earnings despite a sharp 75% decline in Paxlovid sales, with adjusted earnings surpassing analysts’ expectations. The textile sector faced uncertainties due to fluctuating demand and increased production costs, influenced by proposed import tariffs impacting global fashion supply chains. These factors contributed to a complex landscape for NSA demand, with the pharmaceutical sector providing some stability amidst broader economic challenges.
Asia
In Q1 2025, Asia's NSA market experienced moderate price fluctuations, influenced by the region's robust economic performance and key industry dynamics. Asia, led by India, is projected to contribute about 60% of global growth in 2025, with the region expected to grow by 4.3%. This economic strength supported steady demand for NSA, particularly in countries like India and Southeast Asian nations.
India's textile sector showed resilience, with exports increasing by 4.15% year-on-year in Q1 FY2025, driven by demand from CIS and South Asian markets. The pharmaceutical industry also registered strong growth, with major companies reporting a 10% year-on-year increase in Q2 FY2025, largely driven by performance in North America and the domestic market. These developments contributed to sustained demand for NSA, a key chemical used in both textile processing and pharmaceutical manufacturing.
Europe
In Q1 2025, Europe's NSA market experienced relative stability, influenced by the region's modest economic growth and key industry performance. The European Central Bank projects real GDP growth of 1.0% in 2025. This steady economic environment supported consistent demand for NSA across the continent. However, geopolitical issues spurred uncertainties in the market, which affected the outlook of downstream industries.
The pharmaceutical sector, particularly in the production of cancer treatments and dermatology medications, was a significant driver for NSA demand. The textile industry also saw stable demand, especially from southern European countries, as production of winter apparel and preparation for spring collections increased. Despite global logistical challenges, the supply chain remained relatively intact, with minimal disruptions noted. Freight rates, however, remained a concern, putting upward pressure on prices, especially in the colder months.
For the Quarter Ending December 2024
North America
In Q4 2024, the price of Nitrosylsulfuric Acid in North America experienced moderate fluctuations, primarily driven by the performance of key industries such as pharmaceuticals, textiles, and agrochemicals.
As the quarter progressed, demand from the pharmaceutical sector showed significant growth, particularly in the production of active pharmaceutical ingredients (APIs) for treatments such as oncology and dermatology. The expansion of biopharmaceutical manufacturing in the region and a strong pipeline of new drugs kept demand for high-value chemical intermediates, including Nitrosylsulfuric Acid, elevated. In addition, demand from the textile sector showed seasonal upticks, as manufacturers prepared for the winter and spring fashion seasons, thus fueling demand for chemicals used in textile processing.
The U.S. textile industry remained strong, supported by robust export growth to regions like Europe and Asia. Logistics challenges, including ongoing container shortages and rising freight costs, slightly impacted the supply chain but did not significantly disrupt availability, with most supply coming from domestic producers. The overall pricing trend in the region was upwards in November and December, driven by the combination of steady pharmaceutical demand and seasonal textile production.
APAC
In Q4 2024, the price of Nitrosylsulfuric Acid in the APAC region, particularly in India, saw a moderate upward trend, driven by sustained demand from key industries such as textiles, pharmaceuticals, and chemicals. The textile sector, despite facing challenges like fluctuating cotton prices and logistics disruptions, continued to show resilience, particularly due to strong export growth, which increased by 17.3% in September 2024. This buoyed the demand for Nitrosylsulfuric Acid, a key chemical used in textile processing, contributing to a 1.1% price increase in October. In November, the price surged by 3.2%, fueled by heightened demand from the pharmaceutical sector, which benefited from the growth in dermatology, oncology, and anti-cardiac drugs. The continued expansion of the pharmaceutical industry and increasing exports of active pharmaceutical ingredients (APIs) drove the demand for high-value intermediates like Nitrosylsulfuric Acid. While supply remained steady with stable imports and domestic production, logistical challenges and fluctuating freight rates had a minor impact on the availability of the chemical.
Europe
In Europe, the price of Nitrosylsulfuric Acid in Q4 2024 followed an upward trajectory, primarily driven by sustained demand from the pharmaceutical, textile, and coatings industries. The pharmaceutical sector, which has seen an uptick in investment, especially in the production of cancer treatments and dermatology medications, was a significant driver for the chemical. As Europe continues to be a key hub for pharmaceutical manufacturing, the steady demand for intermediates like Nitrosylsulfuric Acid remained firm throughout the quarter. The textile sector also saw stable demand, particularly from southern European countries, as production of winter apparel and preparation for spring collections increased. The European textile industry benefited from strong domestic demand and exports to North America and other markets. The demand for Nitrosylsulfuric Acid in textile production supported prices through a moderate increase in October and November. The coatings and agrochemical sectors also contributed to demand, with increased activity in the agricultural and automotive industries in Europe. Despite global logistical challenges, the supply chain remained relatively intact, with minimal disruptions noted. Freight rates, however, remained a concern, putting upward pressure on prices, especially in November and December as colder months increased transportation challenges.
