Throughout the Asia Pacific region, the pricing of Sodium Thiosulfate in 2023 experienced fluctuations due to varying raw material supplies. The initial quarter witnessed a decrease owing to limited stockpiles and unpredictable crude oil expenses, presenting hurdles for investments and trade. Nevertheless, the second quarter marked a recovery as raw material prices improved, driven by heightened demand from the fertilizer industry seeking derivatives.
In Europe, disrupted supply chains, reduced consumer demand, and uncertain shipping costs contributed to price reductions in both quarters. The second quarter recorded a more substantial decline, primarily due to factors linked to petrochemicals and fertilizers. Meanwhile, in North America, economic volatility and fluctuating oil prices exerted a negative influence on pricing. The first quarter faced challenges from banking issues, while the second quarter saw impacts from elevated energy production expenses and a sluggish economy, discouraging investors and causing price drops.
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Definition
Sodium thiosulfate, a chemical compound with the formula Na2S2O3, is a white crystalline substance often used as a photographic fixer, medical dechlorinator, and in various industrial processes. It is soluble in water and has a mild, sulfur-like odor. Sodium thiosulfate is known for its ability to rapidly neutralize chlorine and is utilized in water treatment. It is also a reducing agent and can be involved in redox reactions. Moreover, it finds application in medicine to treat cyanide poisoning and is valued for its versatility in multiple industries.
Key Details About the Sodium Thiosulfate 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 Thiosulfate 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 Thiosulfate Price forecast, including India Sodium Thiosulfate price, USA Sodium Thiosulfate 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 Thiosulfate Price Trend:
Sodium thiosulfate boasts a range of industrial uses owing to its distinct chemical characteristics. Primarily, it serves as a photographic fixer in the photography field, aiding in the removal of unexposed silver halide crystals from photographic paper or film. In water treatment, it’s utilized to dechlorinate tap water, effectively neutralizing harmful chlorine residues. Within the textile industry, sodium thiosulfate plays a vital role in eliminating excess chlorine from textiles during bleaching procedures. Furthermore, it finds practical application in mining for gold extraction and in the oil and gas sector to manage hydrogen sulfide emissions. Its adaptability and capacity to neutralize and diminish various chemicals establish sodium thiosulfate as an essential component in numerous industrial processes.
Key Players:
- INEOS
- Liyang Qingfeng Fine Chemical Co Ltd
- Changsha Weichuang Chemical Co Ltd
- Nissei Corporation
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