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Sodium Nitrite

Sodium Nitrite Prices Overview

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Market Overview

Quarterly Update on Global Sodium Nitrite Market

For the Quarter Ending December 2020

Asia

During the fourth quarter of 2020, in the initial days’ supply remained sufficient but by the end of quarter the supplies were getting tighter, due to an upward market price trend. The demand from downstream sectors like food and beverages surged as the major economies in the region started to recover after restrictions were eased. Prices of upstream products and feedstocks were temporarily stable, which brought certain positive support to the price of Sodium Nitrite in the region. Due to the healthy demand against tighter supply, CFR China Sodium Nitrite prices were assessed at USD 700 per tonne levels in mid-December, whereas in India prices averaged at USD 697/tonne throughput the quarter.

Europe

Sodium Nitrite supplies remained tight throughout Q4 of 2020 due to consistent increase in freight charges amidst container shortage. The prolonged supply shortage was further exacerbated by the scheduled turnaround at the BASF plant in Antwerp Belgium. Demand from the rubber and dye industries improved after the resumption of industrial and commercial activities, which led to the improvisation on the consumption of Sodium Nitrate, throughout the quarter.

North America

The supplies improved during the Q4 with consistent improvement in demand from the paints and coating sector. Besides, continuous increment in the prices of feedstock, particularly Ammonia, led to the uptrend in the prices of Sodium Nitrite in US, during the second half of the final quarter of 2020. Furthermore, the demand surged with persistent rise in consumption from the pharmaceutical and food & beverages industry followed by the recovery in export potential.

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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 Nitrite 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 Nitrite 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 Nitrite 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 Nitrite 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 behavior 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 Nitrite 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 Nitrite are analyzed and region-wise demand pattern is tracked.

About

Sodium Nitrite is an inorganic sodium salt with molecular formula NaNO₂. It is a white crystalline powder, and it is completely miscible in water and other chemicals such as ethanol. It is used as a food preservative and as a food antioxidant and is also utilized as an antidote to cyanide poising. Industrially Sodium Nitrite is even used in the manufacturing of organonitrogen compounds. Due to its carcinogenicity, it helps to induce tumors and shorten the time of tumor occurrence. It is produced by several methods, the most common industrial method to manufacture sodium nitrite is by absorption of Nitrogen Oxide into aqueous Sodium Carbonate or Sodium Hydroxide. Its major key manufacturers across the globe are BASF, Shandong Haihua Group, Indian Oxalate, Shree Tripura, Shubh Industries, Shouganag Zixu, Tai’an Mingchen, Hongkong Sheng Shi Jiaozi, Shandong Xinhao, Neostar United,etc.

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Sodium Nitrite Prices Overview