Niacinamide Price Trend and Forecast

Niacinamide Regional Price Overview

Get the latest insights on price movement and trend analysis of Niacinamide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Niacinamide Price Trend for the Second Half of 2023

Asia

In Asian countries, the escalating inflation and poor condition of the economy due to depreciation in Asian currency as compared to the US dollar projected a negative influence on the niacinamide market during the third and fourth quarters of 2023.
 

Niacinamide Price Chart

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Further, consumer demand also remained on the lower end of the spectrum as the challenging economic conditions constricted the spending budget of the consumers. During the fourth quarter, the excessive rise in inventory levels and expansion of production units amid a dim demand outlook eventually prompted the traders to take on a destocking route, leading to a decline in the niacinamide price trend.

Europe

In view of unfavorable winds of the downstream industries, excess inventories were well evident in the pricing trajectory of niacinamide during the third quarter of 2023. The German nutrachemical and pharmaceutical sectors also witnessed a decline in their own profit margins, leading to a reduction in their procurement rates of niacinamide. The number of new orders declines not only in the domestic market but also from the overseas players amid the rising geopolitical struggles due to the ongoing Israel-Hamas crisis.

North America

In North America, the niacinamide price trend seemed to be under the pressure of challenging US economic conditions and a rise in inflationary pressure. The high rates of production and limited procurement rates of the downstream industries further intensified the downfall of niacinamide prices. The dire economic conditions and falling interest of the consumer sector, along with the fall in the cost of production, kept the niacinamide prices in the southward direction throughout the third and fourth quarters of 2023.

Analyst Insight

According to Procurement Resource, the price trend of Niacinamide is expected to oscillate in the upcoming quarters as the end-user demand does not seem in favor of the niacinamide market.
 

Niacinamide Price Trend for the First Half of 2023

Asia

The Asia-Pacific market witnessed a gradual decline in the price trend of niacinamide in the first and second quarters of 2023. The cost of raw materials fell consistently during these two quarters, along with demand from the domestic and international markets.

The traders were forced to destock their produce at compromised rates amid rising supply rates. The prices showed some improvement in the later months of the second quarter when manufacturing activities slid, and with a rise in demand for niacinamide, the prices stabilized.

Europe

In European markets, the prices of niacinamide decreased as the purchasing potential of buyers declined amid the weak economic markets. The decline in the value of the Euro as compared to the US dollar led to a rise in the interest rates and inflation and a reduction in the number of new orders from international and domestic buyers; the prices of niacinamide witnessed a decline. However, during the end phase of the second quarter, the situation started to improve with the rise in overall market sentiments.

North America

The trend of niacinamide prices in the North American region declined in the first quarter and fluctuated in the second. The first quarter suffered from the weak buying appetite of consumers in the domestic and overseas regions. The falling cost of transportation and freight also had a negative impact on the market activities of niacinamide. In the months of May and June, the prices improved as the level of inventories declined with a rise in the rates of procurement. In addition to this, the speed of inflation also slowed down, which supported the niacinamide prices to grow.

Analyst Insight

According to Procurement Resource, the price trend of Niacinamide is estimated to decline due to the weak performance of feedstock industries and a highly uneven trend in the demand from the downstream industries.

Procurement Resource provides latest prices of Niacinamide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.