In 2023, the sodium azide market in Asia witnessed a downward price trend primarily driven by an oversupply of ammonia, its major feedstock material, and a lack of demand from downstream industries in both the first and second quarters. This decline was exacerbated by reduced export rates from China, further dampening market sentiments
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Meanwhile, in Europe, sodium azide prices were adversely affected by the falling cost of natural gas, decreased procurement rates domestically and abroad, and an oversupply relative to demand. Unfavorable weather conditions, including unseasonal rainfall, delayed farming seasons, further contributing to the price decline. North America experienced a similar price trend, marked by declining demand, especially from international buyers, and increased imports disrupting the region’s supply and demand dynamics in the first and second quarters.
Definition
Sodium azide, with the chemical formula NaN3, is a crystalline, inorganic compound characterized by its unique chemical properties. It is a white, odorless, and highly toxic substance. Sodium azide is widely recognized for its use in airbags, where a small amount of the compound rapidly decomposes to produce nitrogen gas during a collision, inflating the airbag. This reaction occurs due to its tendency to decompose exothermically, releasing nitrogen gas, making it valuable for various industrial applications, including as a propellant in certain types of ammunition. However, its extreme toxicity and explosive nature make it a hazardous substance, necessitating careful handling and storage protocols to ensure safety in its applications.
Key Details About the Sodium azide Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium azide in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sodium azide Price chart, including India Sodium azide price, USA Sodium azide price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sodium Azide Price Trend:
Sodium azide, a highly toxic and explosive compound, has a few critical industrial applications despite its hazardous nature. One of the primary uses is in automotive safety systems, where it serves as the propellant for airbags. During a collision, a small quantity of sodium azide rapidly decomposes to release nitrogen gas, inflating the airbag and protecting passengers. It is also employed in the mining industry as a blasting agent to break rocks and ore.
Additionally, sodium azide finds application in the manufacturing of certain chemical products, like dyes, and as a reagent in laboratories for chemical synthesis and analysis. Its utilization, however, demands strict adherence to safety protocols due to its extreme toxicity and explosive potential, requiring careful handling, storage, and disposal measures.
Key Players:
- Island Veer Chemie Pvt Ltd
- ARNISH LABORATORIES PRIVATE LIMITED
- Azide & Allied Chemicals
- RCHEM Group
- American Pacific
- PharmaCompass
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