For the Quarter Ending September 2025
North America
• In the USA, the Sodium Bicarbonate Price Index fell by 10.45% quarter-over-quarter, reflecting broad oversupply.
• The average Sodium Bicarbonate price for the quarter was approximately USD 317/MT on CFR basis.
• Sodium Bicarbonate Spot Price weakened amid abundant imports and lower soda ash feedstock pressuring quotations.
• Sodium Bicarbonate Price Forecast indicates range-bound near-term pricing as destocking and seasonal demand balance supply.
• Sodium Bicarbonate Production Cost Trend eased with lower soda ash and steady energy, improving margins.
• Sodium Bicarbonate Demand Outlook remains mixed with holiday baking support offsetting subdued industrial pharmaceutical procurement.
• Sodium Bicarbonate Price Index volatility reflected CFR import competition, improved vessel availability and distributor destocking.
• Operationally, US plants ran steadily with no major outages, capping upside despite intermittent export demand.
Why did the price of Sodium Bicarbonate change in September 2025 in North America?
• Seasonal baking and utility scrubber demand increased shipments, tightening near-term availability and supporting spot values.
• Sustained global oversupply and competitive CFR offers pressured domestic margins, causing quarterly Price Index decline.
• Lower soda ash costs and logistics eased production costs, constraining upward price momentum despite demand.
APAC
• In Singapore, the Sodium Bicarbonate Price Index fell by 15.89% quarter-over-quarter, reflecting persistent import-driven oversupply.
• The average Sodium Bicarbonate price for the quarter was approximately USD 227.67/MT, FOB Jurong basis.
• Sodium Bicarbonate Spot Price weakened in September as the Price Index reflected sustained import-heavy pressure.
• Sodium Bicarbonate Price Forecast signals modest downside near term, balancing destocking with intermittent restocking ahead.
• Sodium Bicarbonate Production Cost Trend: soda ash softened, but freight and energy kept costs elevated.
• Sodium Bicarbonate Demand Outlook subdued as food and pharma purchases steady, insufficient to reduce inventories.
• Sodium Bicarbonate Price Index pressured by inventory builds and normalized logistics keeping imports readily available.
• Major exporters continued regular shipments; Jurong port operations normal, sustaining supply and limiting pricing leverage.
Why did the price of Sodium Bicarbonate change in September 2025 in APAC?
• Uninterrupted imports from China and Thailand increased supply, exacerbating oversupply and pressuring FOB Jurong offers.
• Downstream demand steady but insufficient; food and pharmaceutical consumption failed to absorb accumulated existing inventories.
• Soda ash cost softness eased input pressures, but abundant imports and inventories kept offers suppressed.
Europe
• In Germany, the Sodium Bicarbonate Price Index fell by 17.95% quarter-over-quarter, reflecting ample supply and weak demand.
• The average Sodium Bicarbonate price this quarter was approximately USD 242.33/MT based on Hamburg CFR.
• Sodium Bicarbonate Spot Price showed swings while the Price Index remained depressed with high inventories.
• Sodium Bicarbonate Price Forecast indicates mild recovery if inventories draw and logistics tighten in coming months.
• Sodium Bicarbonate Production Cost Trend shows stabilized feedstock costs, with ETS and energy charges maintaining upward pressure.
• Sodium Bicarbonate Demand Outlook remains muted as food, pharmaceutical, and industrial procurement hold at baseline levels.
• Price Index weakness driven by elevated merchant inventories and persistent export flows from producers into Europe.
• Logistics improvements eased costs temporarily, but Price Forecast still constrained by inventory overhang and cautious buyers.
Why did the price of Sodium Bicarbonate change in September 2025 in Europe?
• Oversupply from steady exports and healthy domestic output increased tonnes, pressuring the Price Index downward.
• Subdued industrial demand and baseline procurement reduced spot demand, weakening Sodium Bicarbonate Spot Price momentum.
• Stabilized feedstock costs and smoother logistics lowered production cost pressures, but inventories prevented price recovery.
For the Quarter Ending June 2025
North America
• Sodium Bicarbonate Spot Price experienced a downward trajectory in Q2 2025, with prices dropping from USD 369/MT in April to USD 338/MT in June—an average Quarter over Quarter decline of roughly 8.34%. The Q2 fluctuation was marked by monthly decreases of -8.44% (April), -3.79% (May), and -4.79% (June).
• Persistent oversupply and structurally weak demand from key downstream sectors—especially food processing, pharmaceuticals, and textiles—kept market sentiment bearish. The Sodium Bicarbonate Demand Outlook remained subdued in most major segments.
• The Sodium Bicarbonate Price Forecast at the start of June suggested a potential rebound due to freight disruptions and import surges, but these proved short-lived as logistics normalized mid-month.
• Inventory overhang stemming from a post-holiday manufacturing rebound deepened as procurement remained weak, compounding downward price pressure.
• The Sodium Bicarbonate Production Cost Trend eased, benefiting from falling soda ash prices in major exporting nations, which translated to lower production costs and enabled cheaper imports.
• Domestic producers faced additional pressure from smooth import flows, supported by stable freight rates and improved vessel availability.
• During the brief price spike at the beginning of June 2025, temporary logistical constraints and sudden import surges from China highlighted the market's short-term volatility but not a sustainable shift in fundamentals.
• By late June, persistent soft domestic demand from the food, pharmaceuticals, and water treatment sectors triggered further price corrections, guiding the market back to a bearish scenario.
• The steady decline in production costs failed to spur buying activity, as buyers remained cautious, expecting further price reductions based on continuing supply-demand imbalances.
• The overall Q2 scenario confirmed the Sodium Bicarbonate Spot Price had little support for recovery, closing June at USD 338/MT USD with no lasting catalysts evident for an imminent turnaround by quarter's end.
APAC
• Sodium Bicarbonate Spot Price in APAC posted a stable-to-downward trend in Q2 2025, falling from USD 446/MT in April to USD 411/MT in June, with an average Quarter over Quarter reduction of approximately 4.15%. The monthly changes were -0.45% (April), -4.71% (May), and -3.29% (June).
• Early April saw a minor price bump due to a depreciated Thai Baht and stable logistics; however, weak demand quickly reversed these initial gains, returning the Sodium Bicarbonate Price Trend to negative territory.
• Sodium Bicarbonate Demand Outlook in pharmaceuticals, food, textiles, and especially construction remained weak, hampered by macroeconomic challenges (e.g., earthquakes, household debt).
• Sodium Bicarbonate Production Cost Trend benefited from low raw material costs, amplified by a global oversupply of soda ash, keeping price sentiment bearish regionwide.
• In May, strengthening of the Thai Baht and declining soda ash prices further narrowed export competitiveness, even as logistics stayed stable and import volumes remained robust.
• Thailand’s CPI drop and sub-50 PMI confirmed persistent industrial contraction, dampening purchasing across key downstream sectors and reinforcing a risk-averse procurement approach.
• Chinese exports contributed to regional overstock, saturating supply chains and intensifying price competition.
• June’s slight CPI uptick and smooth logistics were outweighed by rising freight costs and export uncertainties, further limiting the region's ability to adjust prices upward despite robust export flows.
• The market failed to register any significant recovery signs by June’s end; Sodium Bicarbonate Price Forecasts pointed to ongoing softness, even as regional producers maintained shipments by cutting prices.
• At USD 411 USD/MT in June 2025, flat consumption and aggressive competition were the essential features defining the end-of-quarter Sodium Bicarbonate Spot Price scenario.
Europe
• Sodium Bicarbonate Spot Price in Europe saw a consistent downward movement in Q2 2025, from USD 252/MT in April to USD 213/MT in June, equating to an average Quarter over Quarter decline of about 5.5%. Monthly drops were -0.40% (April), -9.13% (May), and -6.99% (June).
• Early April’s price optimism—driven by local currency depreciation and a mild demand bounce in food/pharma—was quickly erased as post-holiday demand flattened.
• Throughout April and May, the Sodium Bicarbonate Demand Outlook weakened as domestic and export orders stayed soft, inventories rose, and cautious procurement persisted across customer groups.
• The Sodium Bicarbonate Production Cost Trend moderated in line with falling soda ash and energy prices, allowing European producers to cut offer prices further in response to weak market activity.
• May was characterized by relentless oversupply, muted industrial demand, and stiff competition from Asian imports—including competitively priced soda ash—preventing any price rebound.
• Export market access failed to provide relief; regional competition intensified and price-sensitive buyers largely purchased hand-to-mouth, waiting for further corrections.
• June briefly saw prices rebound due to cost inflation and upticks in food/pharma segment demand; however, this strength faded quickly as raw material prices resumed declining.
• Ongoing robust Turkish exports, directed toward both Europe and North America, contributed to a saturated market and capped any rallies in the Sodium Bicarbonate Price Forecast.
• By later June 2025, despite steady supply chains and logistics, subdued consumption and diminished end-user sentiment reinforced bearish pricing.
• The quarter closed with European Sodium Bicarbonate Spot Price at USD 213/MT, as neither cost-side changes nor temporary demand lifts were enough to create a turnaround in the underlying price dynamics.
For the Quarter Ending March 2025
North America
The U.S. Sodium Bicarbonate market in Q1 2025 experienced significant price fluctuations driven by demand shifts, logistical disruptions, and production cost changes. January began with a modest price increase due to recovering demand and production adjustments, coupled with a supply reduction in acetonitrile. However, by mid-month, prices began to decline as inventory levels rose and efficient distribution alleviated market pressure, although logistical challenges and reduced imports kept the market tight.
February saw further price volatility, with initial declines driven by softening demand in sectors like pharmaceuticals, food, and chemicals. This was balanced by rising production costs and tariffs on imports from Canada, Mexico, and China. Despite the challenges, demand remained stable, particularly from the pharmaceutical sector, which helped support market stability. By March, price fluctuations continued as early-month disruptions caused price hikes, but improvements in logistics and more efficient supply chains led to price reductions later in the month.
The market also saw reduced bulk purchasing and a decrease in international demand, particularly from buyers previously relying on U.S. suppliers. Overall, Q1 2025 was marked by a volatile market, but strong demand from key sectors like pharmaceuticals and agriculture helped maintain a level of stability. Looking ahead, Q2 2025 is expected to see price stabilization, assuming continued supply chain improvements and steady demand.
Asia Pacific
The Sodium Bicarbonate market in Thailand experienced notable fluctuations during Q1 2025, with each month showing a distinct trend. January began with a positive outlook, as prices rose by 0.87% to $465/MT FOB Laem Chabang, driven by increased manufacturing activity and a surge in export demand. However, towards the end of the month, inventories began to build up, and demand weakened, leading to a price decline. Despite favorable macroeconomic indicators, the market turned cautious as supply pressures eased and buyer sentiment became more selective.
February saw a continued downward trend, with prices declining due to weakened demand from key sectors like food and chemicals. An influx of oversupply, aided by steady domestic production and imports from China and India, contributed to this price drop. Although logistical issues briefly stabilized prices, inflationary pressures dampened buying activity, and suppliers were forced to lower prices to clear inventory. A slight recovery in export demand at the end of February offered some support but did not reverse the overall bearish trend.
March marked a recovery, with prices stabilizing as strong demand from food, pharmaceutical, agricultural, and environmental sectors supported the market. Rising costs of raw materials, particularly Soda Ash, added upward pressure on prices. By the end of the quarter, the market was stabilizing, reflecting a balance between strong demand and rising production costs, although competition among suppliers remained fierce.
Europe
During the first quarter of 2025, the Sodium Bicarbonate market in Germany exhibited a dynamic price trend, transitioning from early-quarter softness to a firm upward trajectory by the end of March. January began with elevated prices driven by post-holiday restocking, strong demand from the pharmaceutical and nutraceutical sectors, and logistical disruptions between Asia and Europe that tightened supply chains. However, the bullish start was short-lived as improved inventory levels, easing port congestion, and subdued industrial activity softened the market. Buyers adopted cautious procurement strategies amid stabilizing conditions, and global suppliers adjusted prices downward to maintain competitiveness, closing the month on a weaker note.
In February, the market witnessed fluctuating trends, beginning with oversupply concerns and declining soda ash costs that led to modest price corrections. Despite subdued buyer sentiment, steady demand from the pharmaceutical, food, and chemical industries, along with improved macroeconomic indicators such as Germany’s rising PMI, supported a more stable pricing environment. Market confidence grew as inventories were carefully managed and global supply chains normalized.
By March, the market experienced a firm upward push due to strong seasonal demand, constrained domestic supply, and cautious inventory management. Continued logistical bottlenecks and a depreciating Euro added further pressure, making imports costlier. As a result, Q1 closed on a bullish note, with resilient demand and tight supply expected to support firm pricing into early Q2 2025.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Sodium Bicarbonate market experienced notable volatility, characterized by a combination of rising prices and fluctuating demand. The quarter began with significant price increases, driven by strong domestic and export demand, coupled with declining inventories and constrained supply chains. This surge was compounded by supply shortages, worsened by China's Golden Week and rising production costs, particularly due to higher Soda Ash prices.
By mid-October, demand from the pharmaceutical and solvent sectors softened, leading to a brief price decline. However, the market rebounded in November as seasonal demand surged, especially from the food and beverage industries. The tight supply remained a persistent issue, with limited domestic production capacity and continued global supply chain disruptions.
Throughout November and December, prices fluctuated upward, driven by escalating import costs, particularly from China, where production cuts and shipping challenges further strained the supply. Despite weakening demand from certain sectors, the overall market sentiment remained positive, fueled by strong export demand and strategic stockpiling. By the end of December, prices continued to rise, reflecting a seller’s market, with ongoing supply shortages and stable demand propelling steady upward momentum.
Asia Pacific
Sodium Bicarbonate prices are on an upward trajectory due to tightening supply and strong demand. Throughout Q4 2024, the Sodium Bicarbonate market experienced significant price fluctuations, marked by rising demand in both domestic and international markets. Domestic producers faced inventory shortages, despite efforts to ramp up production. Export opportunities grew, but the rising cost of production and logistical challenges, such as higher ocean freight and a strengthening US dollar, pressured margins.
Early October saw a price surge driven by limited stock availability and increased consumption. This upward momentum continued into November, fueled by robust global demand, particularly from the food preservative industry in India. By mid-November, prices reached USD 460/MT, with strong trading activity and favorable export forecasts.
However, toward the end of November, prices softened due to excess supply and reduced demand, reflecting the impact of the Soda Ash market and importers postponing purchases. As December progressed, supply remained constrained, with rising consumption from Western markets. Despite strategic efforts to reduce inventories, prices saw a steady increase, reaching USD 461/MT by December 27, with further price firmness expected.
Europe
The overall trend for the Sodium Bicarbonate market in Q4 2024 is a combination of fluctuating price increases and decreases, primarily driven by supply-demand imbalances, logistical disruptions, and varying production costs.
October saw a strong price surge due to heightened demand, with prices rising by 1.18% to $257/MT. However, by the end of the month, prices declined by 2.72%, settling at $250/MT, due to subdued demand and a drop in Soda Ash prices. November started with optimism, as prices rose due to export demand, reaching $239/MT by mid-month. However, global disruptions and logistical delays kept the market under pressure, leading to a price decline to $235/MT by the month's end. The market remained cautious, with limited purchasing activity, reinforced by weak domestic demand and increasing production costs.
In December, the market remained volatile, with prices initially dropping to $238/MT due to weak domestic demand but later increasing to $240/MT by mid-month. By the end of December, prices surged again to $242/MT, driven by tight supply conditions, rising production costs, and consistent export demand. The outlook for Q4 indicates continued price volatility and a cautious market sentiment.
