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Sodium Nitrate

Sodium Nitrate Price Trend and Forecast

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Sodium Nitrate Price Trend and Forecast

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Market Overview

For the Quarter Ending March 2022

North America

Sodium Nitrate prices soared in the North American market during the 1st quarter of 2022, backed by strong downstream demand. Due to the increased consumption of Sodium Nitrate in the Fertilizer industry, demand for the product escalated. Furthermore, enhanced offtakes of Sodium Nitrate from the processed food industry also propelled its prices. Meanwhile, increased prices of crude oil, increase in freight charges, and material shortage added to the already surged Sodium Nitrate price value. Hence, in USA, the CFR prices of Sodium Nitrate settled at USD 830/MT in January, which increased to USD 970/MT during the month of February.

Asia Pacific

Asia-Pacific region witnessed an upward trajectory in the prices of Sodium Nitrate during quarter 1 of 2022, on account of firm demand from end-user industries. Substantial demand for Sodium Nitrate increased during the considered period from fertilizer segment. Besides, the demand for Sodium Nitrate from the meat processing industry fuelled its prices even more. Furthermore, escalated feedstock prices soared upstream and led to the rise in Sodium Nitrate prices. In addition, consistent rise in Crude oil prices and freight charges amidst Russia-Ukraine war tensions further propelled the prices of Sodium Nitrate. Conclusively, prices of Sodium Nitrate in the Indian market were assessed at USD 1080/MT in February.

Europe

Prices of Sodium Nitrate surged in the European market during the 1st quarter of 2022 again due to the same reasons as in North America and Asia-Pacific region. The prime factor which soared the price value of Sodium Nitrate was robust demand from downstream sectors like processed food and fertilizer. Meanwhile, enhanced prices of raw material Sodium Bicarbonate also influenced the price value of Sodium Nitrate. Thus, the prices of Sodium Nitrate in Germany settled at USD 1640/MT FD Hamburg during February, which kept on propelling till March.

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Services

Market Analysis

Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for Sodium Nitrate is calculated considering the production, import, export and inventory-levels on the country and regional level markets.

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Pricing Analysis

The product price is correlated with the price trend of crude oil, demand-supply gap, fluctuations in the feedstock and with the market movement of the downstream sectors.

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Company Profile

Basic details and information on financial performance of leading global players in the Sodium Nitrate market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.

News & Deals

Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.

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Methodology

ChemAnalyst gathers information through primary research surveys conducted with various Sodium Nitrate manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated, and presented in chronological order to depict a meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Sodium Nitrate market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics, and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behaviour of consumers across the globe. Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Sodium Nitrate market. Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis. Finally, region-specific markets for Sodium Nitrate are analyzed and region-wise demand pattern is tracked.

About

Sodium Nitrate is the Nitrate salt of Alkali metal with the chemical formula NaNO3 and is commonly known as Chile saltpeter as historically, it used to be mined from Chile. It is a white-coloured soluble that is readily in water and is being used widely for its nitrate anion. Sodium Nitrates are naturally found in Chile and Peru; however, they can also be synthesized industrially. It is being manufactured through a neutralization reaction between Nitric Acid and Sodium carbonate or sodium Bicarbonate. Sodium Nitrate is majorly used to produce Fertilizers, food preservatives, smoke bombs, explosives, etc.

Product Specific Details

CAS No:	7631-99-4
HS Code:	31025000
Grade:	Technical Grade
Contract Size:	15-20 MT
Packaging Type:	Bag

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Sodium Nitrate Price Trend and Forecast

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