Wavering Demand Drains the Global Potassium Silicate Prices
- 23-Aug-2022 3:45 PM
- Journalist: Shiba Teramoto
This year the global Silicate market has started facing a downtrend for the first time; a recent trend analysis shows a significant price fall in Potassium Silicate prices during August 2022. As per the assessment, slow demand amidst rising concern over global recession played a pivotal role in this price fall.
India has witnessed the steepest fall among most of the major Asian economies, where the prices of Potassium Silicate fell by around 7.5% during August 2022. The Indian market has been stagnancy for the past couple of months due to a seasonal fall in construction activities, influenced by the monsoon season in the country. Additionally, the upcoming festive season in the country has already made the situation optimistic for the traders involved in the construction sector, which would eventually lead to the demand rise for multiple Silicates in the country.
In the meantime, Similar market sentiments have been seen in China, where the demand for Potassium Silicate has been dull since the pandemic hit the country. However, despite a significant recovery from the pandemic, the country still struggles to retrieve economic momentum. Nevertheless, the government’s zero COVID policy is still a considerable concern, which may change the current speed.
Not only in Asia, major European countries like Germany and Poland have also been facing similar market fundamentals, where Potassium Silicate prices have fallen by a considerable fraction during this period. The data shows a fall of around 2% and 1.5% for Poland and Germany during August 2022, supported by wavering offtakes from the downstream construction industry amidst the rising tension of another regional natural gas crisis.
As per ChemAnalyst’s analysis, Potassium Silicate prices are likely to remain unchanged till the end of this month, and the price trend is likely to follow the current price trajectory for a long time in the global Potassium Silicate market. However, Indian and Chinese Potassium Silicate markets are presumed to show fair optimism in the coming months, under the support of festivities in India and expected economic recovery in China. Similarly, owing to the anticipated rise in natural gas value, the European market may also change its momentum during the coming months.