Sodium Azide Price Trend and Forecast

Regional Price Overview

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

Sodium Azide Price Trend for First Half of 2023

Asia

In the production of sodium azide, ammonia serves as the major feedstock material and thus was able to dictate its price trend. In the first quarter of 2023, due to excess availability of feedstock material and lack of demand from the downstream industries, the price trend of sodium azide moved southwards. The second quarter also followed the same trend. In addition to the fall in demand, the export rates of China declined, which in turn hampered the market sentiments of sodium azide prices.

Sodium Azide Price Chart

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Europe

In European countries, the price trend of sodium azide suffered from the falling cost of natural gas. The rates of procurement in the domestic and overseas markets also dropped significantly, but the supply exceeded the demand, resulting in an imbalance between supply-demand equilibria. Further, the extreme weather conditions and unseasonal rainfall in the region delayed the farming season and thus adversely affected the price trend of sodium azide.

North America

During the first and second quarters of the year, sodium azide prices declined due to a substantial reduction in demand from both local and international buyers. Furthermore, the price trajectory was influenced by an increase in imports, with the introduction of new imports causing disruptions in the region's supply and demand dynamics.

Analyst Insight

According to Procurement Resource, the price trend of Sodium azide is estimated to follow a southwards journey due to the weak condition of its feedstock market and the consistently falling cost of natural gases.

Procurement Resource provides latest prices of Sodium Azide. 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.