High Input Costs are Causing European Potassium Silicate Prices to Sustain an Uptrend
- 04-Jul-2022 6:04 PM
- Journalist: Patrick Knight
A steep rise in the price of several commodities has been observed during the past few months, including Potassium Silicate in the European market. As per the data, a significant price hike of around 2.5% to 3% is observed owing to consistent inflationary pressure on producers with the consistent rise in raw material costs.
As per the latest assessment, the Potassium Silicate price rose by 3% in the German market by the end of June 2022. A trusted market source said that the prime factor behind this price increment is ample queries from the domestic market amidst the high cost of production. Russia-Ukraine has been pushing up the cost of production across the European market owing to supply disruption of natural gas in the regional market, especially in Germany.
On the other side, taking pressure from the regional market disturbances, the Potassium Silicate price has also risen in Poland by 2.5% during the parallel timeframe. Further, this price increase remained the same, including high input costs and rising domestic transportation expenses.
Trusted market sources of ChemAnalyst revealed that the demand dynamics for the product have been stable since the start of the month, while demand supply remained narrow enough to satisfy the overall need of the market. However, rising input cost remained a significant factor behind consistent price increments for most commodities, including Potassium Silicate.
As per the ChemAnalyst analysis, Potassium Silicate pricing dynamics may take a downtrend during the forthcoming months, owing to the looming threat of recession across the European market. As per the industrial experts, Stagflation risk has already been hovering around the head of European and the US government, compelling them to introduce remedial financial decisions and policies. Thus, if this threat remains persistent, demand will decline, and producers may not be able to revise their product prices further.