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Sodium Propionate

Sodium Propionate Prices Overview

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Market Overview

Quarterly Update on Global Sodium Propionate Market

For the Quarter Ending December 2020

Asia

In Asia Pacific region, demand for preservatives increased during final quarter of 2020, due to pickup in demand during the festive season in November. This significant rise in demand led to slight increment in the price of Sodium Propionate i.e., from 2053.5 USD per tonne in October to 2093.1 USD per tonne till December 2020. However, due to ample supply the prices didn’t rise by a big number. Although prices of feedstock tumbled in the December 2020 due to low demand, but it didn’t adhere a significant impact upon the prices of Sodium Propionate across APAC region.

North America

Demand for Sodium Propionate in the food preservatives sector remained firm during Q4 2020 in North America backed by its increased demand amidst holidays and festivals like Christmas, Halloween, thanksgiving etc. However, the supply remained tight initially during October, due to shortage of feedstocks supply due to disturbed functioning of several plants following the spate of hurricanes. Consequently, prices of Sodium Propionate during November 2020 settled at USD 2217 per tonne in Canada. In addition, marginal rise in feedstock Propionic Acid prices were observed in some north American countries like Mexico which later came down again in December.

Europe

Europe was hard hit by the new wave of Coronavirus that led to a major disruption in the market activities in Q4 2020, considerably affecting the imports as well as domestic manufacturing of several feedstock chemicals. In addition, hurricanes in the gulf of USA also exacerbated this import shortage of feedstock, causing a major impact upon its prices in some countries like Germany and Spain. However, as the supply gradually resumed by the end of November, its prices also witnessed stability.

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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 Propionate 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 Propionate 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 Propionate 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 Propionate 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 Propionate market.

Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on weekly, monthly and yearly basis.

Finally, region-specific markets for Sodium Propionate are analyzed and region-wise demand pattern is tracked.

About

Sodium Propionate is a sodium salt of propionic acid with chemical formula C₂H₅COONa. It is a white or colourless hygroscopic crystalline solid, which means it can adsorb or absorb water molecules from surrounding. Sodium Propionate is commercially manufactured by the reaction of Propionic Acid with Sodium Carbonate or Sodium Hydroxide. Primarily, Sodium Propionate is used as a preservative in different food products. It is widely utilised in bakery products as a mould inhibiter. In addition, it is also used as a preservative in wines, carbonated drinks, processed meats etc. Sodium Propionate is also a food additive approved in many countries including USA, Australia, New Zealand etc., most of the health agencies of various countries consider it as completely safe and applies no restrictions on its use. In several industries, Sodium Propionate is also used as an antibacterial and antifungal agent.

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Sodium Propionate Prices Overview