Vitamin B1 Prices, Pricing, Demand & Supply, Market Analysis | ChemAnalyst

North America

The economic conditions in the US have shown signs of improvement in the second quarter of 2023 after a period of instability. However, the domestic Vitamin B1 (thiamine) mononitrate market in North America experienced a price stagnation during this period. The demand for vitamin B1 from pharmaceutical and nutraceutical industries weakened slightly in the second half of Q2. This, coupled with an abundant supply of Vitamin B1 from domestic suppliers, led to price reductions. Inflation in the country has fallen in line with energy prices, but analysts believe it to be temporary due to easing supply chain pressures. Despite mixed sentiment on the price of vitamins and dietary supplements, the nutraceuticals market in the US continues to show a mixed pattern of market activity. Nevertheless, the US economy remains robust and continues its path towards steady and stable growth.

Asia Pacific

In the Asia-Pacific region, the Vitamin B1 (Thiamine) Mononitrate market witnessed a favorable price movement in Q2 2023. The prices initially rose from $1,4700 per tonne in April to $1,5000 per tonne in June, driven by increased demand from the pharmaceutical and nutraceutical sectors. Chinese producers faced higher consumer inquiries and were forced to sell the product at slightly higher margins. Meanwhile, China’s manufacturing activity contracted for the third consecutive month, albeit at a slower pace, putting pressure on authorities to support the economy. The region also witnessed imbalances, including a decline in regional and external demand, a decrease in small business activity, and increased pressure on the pharmaceutical and dietary supplements sector.

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Europe

The vitamin B1 (thiamine) mononitrate market in Europe remained relatively stable in the second quarter of 2023, with prices rising at a slower pace. Consistent demand from downstream industries and moderate supplier inventories contributed to this price stagnation in the German domestic market. However, an unexpected rise in the German unemployment rate in June had a significant impact on the market environment. Despite the rise in inflation, the vitamin B1 industry in Germany has not been affected. Market participants remain cautious about the country’s economic situation, particularly due to lower demand in Europe and increased global risk leading to a higher dollar.