During the first quarter of 2023, sodium bicarbonate prices faced volatility in Asia owing to a slowdown in the downstream industry and increasing stockpiles. This was further aggravated by the declining costs of soda ash and its derivatives. The subsequent quarter, Q2, witnessed a notable decrease driven by reduced pharmaceutical demand, depreciation in feedstock costs, and the Asian currency’s weakening against the US dollar.
In Europe, a minor decline was experienced in Q1, primarily supported by the domestic market and robust production. However, a significant drop marked Q2 due to weakened demand, surplus sodium bicarbonate, inflationary pressures, and escalating energy expenses.
Meanwhile, North America observed considerable price declines for sodium bicarbonate across both quarters. This was attributed to diminishing sales in downstream sectors, heightened inventory levels, challenges in the retail sector, and inflationary influences.
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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 trends, 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 boasts a wide range of industrial uses thanks to its adaptable characteristics. Within the food sector, it serves as a leavening agent, facilitating the rise of dough during baking. Its role extends beyond baking as it acts as a buffering agent, maintaining pH levels and preventing spoilage in processed foods. Its alkaline properties make it valuable in water treatment for adjusting pH levels and counteracting acidic waste. Furthermore, it’s employed as a fire suppressant due to its ability to release carbon dioxide when exposed to heat. In personal care items, it’s valued for its gentle abrasive qualities and ability to neutralize odors. Its versatility across different industries highlights its crucial role in various manufacturing processes.
- GHCL Limited
- Tata Chemicals Ltd
- Tosoh Corporation
- Church & Dwight Co Inc
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