Niacin Price Trend and Forecast

Niacin Regional Price Overview

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

Niacin Price Trend for the Second Half of 2023

Asia

During the H2 of 2023, the healthcare and neurochemical industries were adversely affected by the capping of prices of medicines and other avalanches in consumer sentiments. In Asia, niacin prices thus remained stagnant throughout the third and fourth quarters due to weak demand from both domestic and international sectors.
 

Niacin Price Chart

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Deteriorating consumer trust in the market further exacerbated this trend. Additionally, currency fluctuations, along with trade tensions that hampered exports due to the disruption of trading routes, also contributed significantly to the downward trajectory of prices.

Europe

In Europe, sluggish industrial and nutraceutical sectors initially hindered niacin price trends during the third quarter. However, supply chain disruptions limited raw material availability, allowing traders to briefly increase their price quotes. Yet, this uptick was short-lived, as steady demand from downstream sectors led to price stagnation. Additionally, the market also suffered from the rise in competition due to the influx of cheap imports from Asian countries, which in turn forced the manufacturers to reduce their price quotations of niacin.

North America

Similarly, in North America, niacin prices faced challenges mirroring the global market. Rising raw material costs and consumer confidence fluctuations weakened market momentum throughout the H2 of 2023. Further, port congestions and drought conditions in the Panama Canal disrupted the trade routes, impacting the market negatively. In view of this, the dealers responded to growing inventories by reducing advertised prices, disrupting niacin pricing trends.

Analyst Insight

According to Procurement Resource, the price trend of Niacin is estimated to bear the trend dictated by its downstream pharmaceutical industries and global trading activities.
 

Niacin Price Trend for the First Half of 2023

Asia

The production of niacin uses tryptophan as its raw material, and hence, its price trend is highly influenced by tryptophan’s market activities. In the first quarter, the momentum of niacin prices slowed down because of the weak support from the raw materials sector and declined demand from the downstream industries.

In the second quarter, the reduction in the purchasing potential of buyers and low production rates challenged the prices in the first half of the second quarter. The trend, however, improved during the end phase of this quarter with support from the pharmaceutical and food & beverages sectors.

Europe

The prices of niacin consistently declined due to the weak support from the feedstock sectors in the first quarter. In addition to this, the rates of procurement from the domestic and international industries also slid, as a result of which the traders had to cut their profit margins to keep the market afloat.

The decline in the cost of freight and transportation further added to the challenges of niacin prices. In the second quarter, the trend followed the same path as with the persistent challenges of the first quarter: the rising level of inventories, high inflation and interest rates, and weak purchasing potential of buyers pushed the market sentiments into the negative zone.

North America

In the first and second quarter of 2023, the declining trend in the prices of niacin was a direct consequence of low demand from the downstream industries in the domestic and international markets. Due to this subdued demand, the level of inventories rose to an alarming level, and along with deteriorating conditions of freight and transportation costs, the prices of niacin were bound to decline. There was a slight glimmer of hope during the end phase of the second quarter as the inflation and hikes in interest rates slowed down.

Analyst Insight

According to Procurement Resource, the price trend of Niacin is estimated to continue its downward trajectory as the demand from the downstream sectors is consistently declining.

Procurement Resource provides latest prices of Niacin. 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.