Sodium Propionate Price Trend and Forecast

Regional Price Trend

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

Sodium Propionate Price Trend for the First Half of 2023

Asia

The price trend of sodium propionate inclined in the first quarter of 2023 as the raw material costs rose significantly, positively impacting the sodium propionate prices. Another major factor for the rise in prices was the positive market momentum of the Chinese pharmaceutical sector and consistency in the number of orders from domestic and international buyers. In the second quarter, the market sentiments of sodium propionate declined with falling demand from the downstream industries. The lower number of inquiries, along with high uncertainties in the feedstock market, further aided the downward movement of the sodium propionate price trend.

Europe

The European market in the first quarter of 2023 witnessed a rising trajectory. The market dynamics of this region were almost similar to that observed in Asia-Pacific. The prices in the first quarter were supported by higher trade volume, stable supply-demand dynamics, and rising costs of raw materials. As observed in the Asia Pacific region, the trend plunged in the second quarter of 2023.

The demand from downstream industries and declining costs of raw materials negatively impacted the sodium propionate market. In addition, strict regulations over the energy prices by the government for the revival of the European economy forced the manufacturers to decrease their production outputs and eventually led to the decline in the price trend of sodium propionate.

North America

In the first quarter, the prices of sodium propionate gradually inclined due to high demand from the pharmaceutical sector. In the later months of this quarter, the trend stabilized as the freight charges declined and the market had an ample number of inventories. However, a noticeable price dip was seen in the second quarter. The sliding demand, falling energy costs, and weak movement of the global economy pushed the price trend of sodium propionate into the negative region.

Analyst Insight

According to Procurement Resource, the price of sodium propionate is estimated to showcase a falling trajectory as the demand from end-user industries is declining gradually, and the slowdown of the global economy will affect the market negatively.

Procurement Resource provides latest prices of Sodium Propionate. 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.