In 2023, the price trends of sodium acetate in major regions witnessed varying dynamics. In Asia, the first quarter showed stability in sodium acetate prices, driven by the easing of COVID restrictions and increased consumer confidence. The second quarter saw a decline due to supply chain disruptions and challenges in downstream industries. Europe experienced an uncertain path in the first quarter, influenced by inflation rates and limited consumer purchasing.
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The second quarter saw consistent price declines, attributed to rising inventory levels, weak downstream industry performance, and an influx of inexpensive imports from Asia. North America faced a significant decline in sodium acetate prices in the first quarter, as new offers decreased, and downstream industries exhibited demand volatility.
Manufacturers and traders reduced prices and production to manage inventories. Economic performance and rising interest rates also contributed to the decline. These regional trends highlighted the complex interplay of supply, demand, raw material costs, and economic factors impacting sodium acetate pricing.
Definition
Sodium acetate is a chemical compound with the formula CH3COONa. It is a versatile salt, commonly referred to as sodium ethanoate, that exhibits several notable properties. In its solid form, sodium acetate is a white, crystalline powder that is highly soluble in water. It is often used as a buffering agent in various chemical and biochemical processes due to its ability to maintain a stable pH level.
When dissolved in water, it has the unique property of being able to undergo crystallization or "hot ice" formation when the solution is cooled, making it useful in hand warmers and heat packs. Sodium acetate is also employed in the food industry as a preservative, flavor enhancer, and acidity regulator. Its diverse applications in chemistry, industry, and everyday products make it a valuable and versatile compound.
Key Details About the Sodium Acetate 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 acetate price forecast 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 Acetate Price chart, including India Sodium Acetate price, USA Sodium Acetate 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 Acetate Price Trend:
Sodium acetate plays a significant role in various industrial applications due to its versatile properties. One of its primary uses is as a buffering agent in the pharmaceutical and chemical industries, helping to maintain a stable pH level in various processes. In the textile industry, it serves as a mordant, aiding in the fixation of dyes to fabrics. Sodium acetate is also employed in the food industry as a preservative, flavor enhancer, and acidity regulator in a wide range of products, including snacks, sauces, and processed meats. Its unique ability to undergo crystallization or "hot ice" formation when heated and then cooled makes it valuable in hand warmers and heat packs. Additionally, it finds use in the production of heat- and cold-resistant glass and in concrete mixtures to accelerate curing. The diverse industrial applications of sodium acetate underscore its importance in various sectors, from manufacturing to healthcare and food production.
Key Players:
- Changshu Nanhu Chemical
- Nantong Zhongwang Additives
- Cayman Chemical
- Karn Chem Corporation
- Niacet Corporation
- NOAH Technologies Corporation
- American Elements
- Spectrum Chemical Manufacturing Corporation
- Daito Chemical
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