In 2023, the sodium azide market in Asia saw prices drop due to an oversupply of ammonia, its main raw material, and limited demand from downstream industries in the initial two quarters. The situation worsened as China reduced its export rates, intensifying the market downturn.

Meanwhile, Europe faced declining sodium azide prices due to cheaper natural gas, reduced local and international purchases, and an excess supply compared to demand. Unfavorable weather, such as unexpected rainfall disrupting farming schedules, further contributed to the price dip. North America witnessed a similar downward trend, driven by reduced international demand and increased imports, disrupting the region's supply and demand balance in the first two quarters.

Request for Real-Time Sodium Azide Prices: https://www.procurementresource.com/resource-center/sodium-azide-price-trends/pricerequest

Definition

Sodium azide, with the chemical formula NaN3, is a crystalline, inorganic compound characterized by its unique chemical properties. It is a white, odorless, and highly toxic substance. Sodium azide is widely recognized for its use in airbags, where a small amount of the compound rapidly decomposes to produce nitrogen gas during a collision, inflating the airbag. This reaction occurs due to its tendency to decompose exothermically, releasing nitrogen gas, making it valuable for various industrial applications, including as a propellant in certain types of ammunition. However, its extreme toxicity and explosive nature make it a hazardous substance, necessitating careful handling and storage protocols to ensure safety in its applications.

Key Details About the Sodium azide Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium azide in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.

The Sodium azide Price analysis, including India Sodium azide price, USA Sodium azide price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting the Sodium Azide Price Trend:

Sodium azide, an exceedingly perilous compound due to its toxicity and explosive nature, maintains essential roles in specific industries despite its dangers. Most notably, it contributes to automotive safety by acting as the triggering element for airbags. In the event of a collision, a small amount of sodium azide swiftly breaks down, releasing nitrogen gas to inflate the airbag and safeguard occupants. Its significance extends to the mining sector, where it serves as a blasting agent, aiding in the fracture of rocks and ores.

Furthermore, sodium azide plays a role in the production of various chemical goods, such as dyes, and serves as a crucial reagent in laboratory settings for chemical analysis and synthesis. However, its use demands meticulous adherence to safety guidelines due to its extreme toxicity and explosive potential, necessitating careful procedures for handling, storage, and disposal.

Key Players:

• Island Veer Chemie Pvt Ltd
• ARNISH LABORATORIES PRIVATE LIMITED
• Azide Allied Chemicals
• RCHEM Group
• American Pacific
• PharmaCompass

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients with up-to-date and pioneering practices in the industry to understand procurement methods, supply chains, and industry trends so that they can build strategies to achieve maximum growth.

Contact Us:

Company Name: Procurement Resource
Contact Person: Christeen Johnson
Email: sales@procurementresource.com
Toll-Free Number: USA Canada – Phone no: +1 307 363 1045 | UK – Phone no: +44 7537 132103 | Asia-Pacific (APAC) – Phone no: +91 1203185500
Address: 30 North Gould Street, Sheridan, WY 82801, USA