Table Of Contents

Subscribe to Unlock Access

  • Price Across Multiple Locations
  • Market Insights
  • Download Data in Excel Format
  • Short Term Price Forecasts
  • Prices of More than 400 Commodities and Utilities

Get in Touch With Us

flag
UNITED STATES

Phone:+1 307 363 1045

flag
INDIA

Phone: +91 1203185500

flag
UNITED KINGDOM

Phone: +44 7537 132103

Email: sales@procurementresource.com

Niacin Price Trend and Forecast

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 Trends

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.

Please Login or Subscribe to explore our dashboard.

About

Niacin or Nicotinic acid is basically known as a water-soluble vitamin whose derivatives such as NADH, NAD, NAD+, and NADP play crucial roles in energy metabolism in the living cell as well as in DNA repair. Niacin can be easily found in a variety of whole and processed foods, with highest contents in fortified packaged foods, meat, poultry, red fish like tuna and salmon, lesser amounts in nuts, legumes, and seeds.

Product Details

Report Features Details
Product Name Niacin
Chemical Formula C6H5NO2 or C5H4NCOOH
Industrial Uses Intermediates, Processing Aid in Food, Processing aid in animal feed
HS Code 29362920
Molecular Weight 123.11 g/mol
Synonyms 59-67-6, Pyridine-3-carboxylic acid, Nicotinic acid , 3-Carboxypyridine
Supplier Database Acros Organics, Charkit Chemical Company LLC, Penta Manufacturing Company
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer 
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Niacin via Oxidation of 5-Ethyl-2-Methylpyridine

In this process, 5-ethyl-2-methylpyridine is oxidised in an aqueous solution to nicotinic acid in a single-tube reactor by utilising an excess of nitric acid. The continuous process takes place somewhere around 230-270 °C.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

Assistance from Experts

Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

Client's Satisfaction

Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

Assured Quality

Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.

Subscribe to Unlock Access

  • Price Across Multiple Locations
  • Market Insights
  • Download Data in Excel Format
  • Short Term Price Forecasts
  • Prices of More than 400 Commodities and Utilities

Get in Touch With Us

flag
UNITED STATES

Phone:+1 307 363 1045

flag
INDIA

Phone: +91 1203185500

flag
UNITED KINGDOM

Phone: +44 7537 132103

Email: sales@procurementresource.com

Our Clients

client-image

NEWSLETTER

Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences. See our Privacy PolicyFor more.