Potassium Silicate Prices Unfolds Divergent Trend for Europe and Asia for February 2024
Potassium Silicate Prices Unfolds Divergent Trend for Europe and Asia for February 2024

Potassium Silicate Prices Unfolds Divergent Trend for Europe and Asia for February 2024

  • 11-Mar-2024 4:02 PM
  • Journalist: Bob Duffler

In February 2024, the Potassium Silicate market faced a downturn, particularly evident in Asian markets where demand was lackluster, led to declines. Conversely, European countries saw an opposite trend with Potassium Silicate prices surging amid supply shortages caused by challenging economic conditions and disruptions in the supply chain. Amidst the supply constraints, demand remained subdued. On the other hand, Chinese Potassium Silicate experienced a depreciation in prices due to reduced purchasing activities and persistently low demand from sectors such as glass, adhesives, and construction, largely attributed to the Lunar New Year holidays observed during this period. Consequently, prices of Potassium Silicate in European countries like Germany and Poland rose by 2%, while Chinese Potassium Silicate depreciated by 9% in the meantime.

During this period, the Potassium Silicate market in Europe witnessed a rise in prices primarily attributed to a shortage of supply. In February, Germany experienced accelerated declines in manufacturing output and new orders, frepresenting a setback for the country's industrial sector halfway through the first quarter of the year. This decline led to deeper job cuts in factories as firms reported decreasing backlogs of work and reduced expectations for future activity. Weak demand across supply chains continued to exert pressure on input costs and impacted product pricing. Despite some reports indicating higher transport costs and delays due to disruptions in Red Sea shipping, overall demand for Potassium Silicate remained sluggish, particularly in the construction industry, where a consistent decline in fresh orders persisted. Market participants noted a cautious attitude in the market amidst tight financial conditions, elevated prices, and economic uncertainty, with particular weakness observed in the housing sector.

Meanwhile, during this month, the Potassium Silicate market encountered difficulties in China, as demand from downstream industries remained subdued, largely due to the observance of the Lunar New Year holidays. The Potassium Silicate market has witnessed fluctuations and a downward trajectory, with prices experiencing a decline. After the conclusion of the Spring Festival, the East China region encountered lower-than-usual temperatures, leading to a slow resumption of construction activities. Although there was some support from infrastructure projects, overall demand remained subdued. This situation contributed to a challenging and worsening market condition for Potassium Silicate in the region.

According to ChemAnalyst's analysis, there is an expectation of a significant increase in the Potassium Silicate market in the Chinese region in the upcoming months.  After the holiday period, it's expected that the Chinese market will bounce back, potentially driven by the restart of market operations and a rise in demand from the construction industry. Meanwhile, in Europe, Potassium Silicate market prices may experience a decline due to the subdued demand from downstream industries, particularly due to the anticipated sluggish growth in the housing sector.

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