In Q1 2023, sodium bicarbonate prices in Asia were volatile due to weak downstream industry performance and growing inventories, exacerbated by declining soda ash and derivative costs. Q2 saw a significant decline driven by reduced pharmaceutical offtakes, feedstock cost depreciation, and a weakened Asian currency against the US dollar. Europe experienced a slight Q1 decline due to domestic market support and high production, followed by a prominent Q2 decrease due to weak demand, surplus sodium bicarbonate, inflation, and high energy costs. North America witnessed significant sodium bicarbonate price drops across both quarters, attributed to declining downstream sales, high inventories, retail challenges, and inflation.
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Definition
Sodium bicarbonate, also known as baking soda, is a white crystalline compound with the chemical formula NaHCO3. It’s commonly used as a leavening agent in baking due to its ability to release carbon dioxide gas when heated, causing dough to rise. Sodium bicarbonate is mildly alkaline and is also used as an antacid to relieve heartburn and indigestion. Its versatility extends to various industrial applications, including cleaning, deodorizing, and fire suppression. In addition, it’s utilized in healthcare settings for medical treatments and as an electrolyte replenisher due to its ability to neutralize acids and regulate pH levels.
Key Details About the Sodium Bicarbonate 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 Bicarbonate 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 Bicarbonate Price chart, including India Sodium Bicarbonate price, USA Sodium Bicarbonate 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 Bicarbonate Price Trend:
Sodium bicarbonate finds diverse industrial applications due to its versatile properties. In the food industry, it acts as a leavening agent, causing dough to rise in baking. Beyond baking, it serves as a buffering agent, regulating pH levels and preventing spoilage in processed foods. Sodium bicarbonate’s alkaline nature makes it useful in water treatment to adjust pH and neutralize acidic effluents. It’s employed as a fire suppressant due to its ability to release carbon dioxide when heated. Additionally, it’s utilized in personal care products for its mild abrasive and odor-neutralizing qualities. Its multifunctionality across industries underscores its significance in various manufacturing processes.
Key Players:
- Solvay
- GHCL Limited
- Tata Chemicals Ltd
- Tosoh Corporation
- SEQENS
- Church & Dwight Co Inc
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