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[Unit = USD/Tonnes]
Sample Graph
[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = USD/Tonnes]
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[Unit = INR/Tonnes]
For the Quarter Ending September 2023
North America
According to the ChemAnalyst report, the cost of Potassium Silicate experienced a declining trend in the third Quarter of 2023. The United States manufacturing sector faced ongoing challenges during this period, with a notable decrease in new orders and subdued domestic demand from the construction industry. This challenging business environment led to significant reductions in inventory as companies scaled back their procurement activities. The performance of downstream manufacturing remained lackluster, adding to the constraints on global trade growth. The decline in new orders can be attributed to the prevailing economic conditions, which prompted customers to exercise caution when considering new contracts or purchases. While there were some inflationary pressures, they remained relatively moderate. The demand for Potassium Silicate was weak during this period, primarily due to the absence of fresh orders from potential buyers. With an adequate supply of materials to meet domestic needs and an average level of activity in the construction industry, there was no significant urgency to place new orders. This stability in demand contributed to the overall status of the Potassium Silicate market.
Asia
According to ChemAnalyst, the price of Potassium Silicate in the Chinese market exhibited a bearish trend during the third Quarter of 2023. This trend can be primarily attributed to reduced interest and demand from the downstream construction industry in the region. At the beginning of the Quarter, the demand for Potassium Silicate was further hampered by extensive rainfall, which had a negative impact on the construction, cement, and ceramic sectors in China. Companies operating within the construction sectors had been utilizing their existing stock levels, resulting in a decrease in new orders from potential customers. Furthermore, export orders experienced a gradual decline in August, leading to a significant accumulation of Potassium Silicate in the Chinese market. This surplus supply has contributed to the observed negative price movement in the Potassium Silicate market. The same pricing trend was observed in other Asian countries like India and South Korea, which were imported from the Chinese market at affordable prices throughout the third Quarter of 2023.
Europe
During the third Quarter of 2023, Potassium Silicate prices in the European market displayed a declining trend. Deteriorating demand conditions in Poland led to a reduction in input purchases by manufacturers throughout the Quarter. This reduction was significant, marking the steepest decline of the year. The construction industry, including housing construction, saw a rapid and notable decline, reaching its swiftest rate of contraction since November 2022. The commercial and civil engineering sectors also reported substantial contractions during this period. The European market, particularly in the downstream construction industry, continued to experience a downturn, indicating a decrease in confidence levels throughout the third Quarter of 2023. It's worth noting that while there were contractions in both activity and demand, they showed signs of easing, and job creation continued at an accelerated rate. A similar pricing trend was observed in the German market, primarily due to the prolonged decline in the construction sector. Business confidence across the eurozone's construction sector remained low in September, with companies generally expecting a further decline in activity over the coming year.
For the Quarter Ending June 2023
North America
The price trend of US Potassium Silicate witnessed a declining pattern throughout the second quarter of 2023 due to the bearish downstream sentiments in the market. Merchants were not receiving fresh orders from the downstream sector amid high-interest rates, and inflationary pressure in the country dampened the demand among the enterprises. The low demand was mainly driven by poor performance in the downstream construction industry. Overseas sales had dropped notably, and the domestic market remained deteriorated during this period. Further, the major bank failures significantly impact the construction and housing market and the wider economy in the US region. The failures of major US banks have raised questions about the banking system's stability and may cause people to lose faith in it. Enterprises were working on the existing stocks to meet the requirements of the domestic market, and the lackluster demand smoother the supply of the products in the US region. Moreover, the US construction material prices remained flat in June 2023.
APAC
In the second quarter of 2023, the price of Potassium Silicate witnessed a bearish pattern due to the weak demand in the South Korean market. With inflation driving up costs and rising interest rates hurting demand, the downstream construction sector experienced a decline. Throughout the second quarter, there was less demand for Potassium Silicate in the construction industry and products, which helped relieve pressure on construction supply chains. The price drop was supported by stable exporter inventories and less expensive cargo imported for the Korean market. In China, the manufacturing PMI fell below its threshold limits, indicating a decline in production and poor performance from the construction industries. The pace of market recovery slowed down in the second quarter of 2023, and there was not enough momentum for prices to rise. Overall, global trading activities stagnated in Q2, and the demand for the product did not increase from both domestic and overseas markets. Weak house prices and declining exports have increased pressure on policymakers to support real estate and revive pent-up demand.
Europe
The price of Potassium Silicate saw a declining trend in the Polish market due to the weak fresh orders received from the domestic and overseas markets during the second quarter of 2023. Improved supply capacity coupled with a drop in demand inevitably pushed prices lower. A further fall in construction activity is being brought on by higher interest rates in the eurozone, and it has further accelerated in residential and commercial buildings month-over-month. The year's greatest decrease in consumer spending was seen in the region. The Polish Purchasing Managers Index (PMI) fell in June, and it is the sharpest fall in 2023. The decline in demand and production was the steepest seen in 2023 so far. Backlog fell sharply in response to the weakness in new orders, and output expectations remained subdued. A lack of new contracts remained the primary factor behind reduced activity, discouraging the firms from buying new materials. Weakness in the construction sector is becoming more persistent.
For the Quarter Ending March 2023
North America
The US Potassium Silicate market has observed a slight decline in price patterns throughout the quarter of 2023 due to weak demand from the downstream industries. The construction industry continues to be hampered by the limited availability of skilled labor. A shortage in skilled labor in the construction industry was contributing to an increase in labor rates. In addition, trade contractors are being selective in taking on work to maintain the balance with available labor. The decline in fuel prices during the first quarter of 2023 has assisted in stabilizing transportation expenses. Other construction materials like cement and concrete prices rose due to inflation in the states and subdued the usage of the Potassium Silicate market.
Asia
The Asian market witnessed an inclined trend in Potassium Silicate during the first quarter of 2023. The Korean market deteriorated due to the impact of high-interest rates and rising raw material prices, and worries about the downturn in the local housing market were escalating. As a result, businesses were paying closer attention to global marketplaces. However, South Korea’s economy narrowly escaped a recession in the first quarter of 2023, barely growing after shrinking in the fourth quarter. China has followed the same price pattern throughout the quarter. Despite challenges such as tight capital and high operating costs, market confidence improved significantly in China.
Europe
The first quarter of 2023 saw a declining trend in the price of Potassium silicate commodities in Europe due to a lack of demand around the overseas market. High-interest rates, inflation rates, and geopolitical concerns all contributed to a fall in product demand. The price of the associated commodities has increased, and the trade activities of Potassium silicate have decreased due to inflation rates. Demand dynamics persisted in their lackluster state and intended a downward trend in pricing for the entire quarter. The cost of Potassium Silicate hovered around USD 1334/MT on an FD Darlowo (Poland) basis at the end of the quarter.
For the Quarter Ending December 2022
North America
The Potassium Silicate market remained dull throughout the 4th quarter of 2022, owing to falling demand from the downstream industries amidst easing production costs in the global market. The USA has been battling with high inflationary pressure, which eased down after the intervention of the federal bank. However, this ease in inflationary pressure was a result of the high-interest rate imposed by the FED, which eventually led to a fall in the economic activities of the country. Consequently, demand for the product from the downstream construction and paint industry declined, supporting this price fall in the USA.
Asia
A slowdown in economic activities due to the pandemic and recessionary fear hovering all across the globe led the price of Potassium Silicate to fall in the Asian market during this month. As per the data, Chinese Potassium Silicate prices fell by around 5.5% during this quarter and hovered around USD 1284/MT (Spot) in China during December 2022. Further, this decline also helped major importing economies like South Korea, where traders were getting cheaper cargo from an international sellers. On the other side, the Indian market performed better than other economies due to the festive season in October and November, which induced demand from the domestic market.
Europe
Europe kept on struggling with the repercussion of Russo Ukrainian war, making it hard for the economy to rebound easily. As per the data, Potassium Silicate demand from the construction and detergent sector remained low and affected the price trend for the product in the market. Easing prices of natural gas also didn’t let the price of downstream commodities rise and injected some ease into the producers’ margin. However, despite being eased in the market, Natural gas prices were still hovering at a high value, and producer’s margins were under pressure.
For the Quarter Ending September 2022
North America
In North America, the price of potassium silicate fluctuated throughout the third quarter of 2022. According to the data, the price of potassium silicate first declined in July and August as a result of the plenty of products in the nation and the slow demand from the local downstream industry. Market sources revealed that because there was no demand for the product from the downstream glass industry during the previous quarter, traders had an opportunity to lower their pricing. Slowed demand from the construction sector remained a matter of concern for the key players, as it was hurting the market dynamics of several related raw materials.
Asia
Dull market sentiments have been observed in the Chinese market during most of Q3 2022, where the demand for Potassium Silicate has remained lacking since the pandemic hit the country. However, despite significant recovery from the pandemic, the country was still struggling to retrieve economic momentum. Nevertheless, the government’s zero COVID policy is still a major matter of concern, which may change the current momentum. Additionally, a marginal price hike was observed during the final month of the quarter. Conclusively, post witnessing a decline of around 2.7%, Potassium Silicate price hovered around USD 1394/MT during September 2022 on a spot basis.
Europe
Major European countries like Germany and Poland started facing similar market fundamentals like Asia, where Potassium Silicate prices have fallen by a considerable fraction during this quarter. The data shows a fall of around 2% and 1.5% for Poland and Germany by the first half of August 2022, supported by wavering offtakes from the downstream construction industry amidst the rising tension of another natural gas crisis in the region. Additionally, Potassium Silicate prices changed their dynamics during September owing to the looming threat of the natural gas crisis in the region. Potassium Silicate price heard hovering around USD 1835/MT during August 2022.
For the Quarter Ending June 2022
North America
The North American market has been facing the threat of inflation since the Russia Ukraine war started. Domestic players revised their product prices to maintain their margins, which pressured downstream consumers. ChemAnalyst data shows that the price of several commodities kept on tracing an upward trajectory owing to high input cost bolstered by high crude oil value, later exacerbated by fuming natural gas cost. Potassium Silicate price hovered around USD 1790/MT during May 2022. In addition, as per the analysis, the US market has also been heading towards a stagflation situation, which will affect the pricing dynamics for Potassium Silicate in the coming quarter.
Asia
Asian market witnessed an uptrend throughout the 2nd quarter of 2022, owing to a stable demand pattern from the domestic market amidst high manufacturing costs that affected the pricing dynamics for the product in the market. As per the ChemAnalyst data, a price hike of around 10-15% was observed in South Korea and India during May 2022, owing to disturbed market sentiments and sudden escalation in raw material costs. Meanwhile, in China, Demand for the product declined from the domestic market, while several construction material producers reduced their output due to lower offtakes. Despite these market fundamentals, prices kept uptrend throughout the quarter due to supply disturbances in major provinces. Potassium Silicate price assessed around USD 1470/MT during June 2022.
Europe
The European market has witnessed huge disturbances during this quarter, owing to the escalated Russo-Ukrainian war that disrupted regional trade activities. As per the ChemAnalyst data, the price of Potassium Silicate kept its uptrend during Q2 2022 in the European market. Looming scarcity of natural gas in Germany was a major concern for the domestic players during the first half of Q2 2022, which later came true, and prices shot up aggressively. Furthermore, owing to consistent price hikes in natural gas and crude oil value, domestic transportation expenses rose effectively and significantly affected Potassium Silicate prices. The data shows that the Potassium Silicate price hovered around USD 1860/MT during May 2022.
For the Quarter Ending March 2022
North America
On the back of stable demand from the local buyers, the North American Silicate market saw several ups and downs during Q1 2022. As the global economy recovered from the pandemic, demand for the commodity remained stable from the downstream paper and construction sectors. However, the abrupt escalation of the Russia-Ukraine conflict slowed the overall flow and injected uncertainty into the global silicate market. Manufacturers were forced to increase their product prices in order to maintain margins, owing to trade disruptions and increased inflationary pressure on consumers due to high crude oil and natural gas costs. ChemAnalyst assessed Potassium Silicate prices as USD 1535/MT during February 2022.
Asia Pacific
Steep price escalation has been observed for Potassium Silicate across Asian market during past few months. Demand fundamentals for the product has been stable since the festive season arrived in major Asian economies, while rising freight cost coupled with soaring crude value has started bothering domestic players. Raw material prices have also started rising across domestic market post Russia Ukraine conflict escalated, as top Asian countries imports considerable amount of raw material potassium Carbonate from Russia and Europe. Furthermore, rising crude oil value has also affected global freight cost, making most of the products expensive in domestic market. These reasons have opportune traders to raise their offers to gain better margins. As per ChemAnalyst, Potassium Silicate price assessed around USD 1164/MT Glass Grade in China during February 2022.
Europe
The price value of Potassium Silicate surged by 3.6% in the domestic market of Germany during the month of February. The prices of Potassium Silicate glass grade were assessed at USD 1541 FD Hamburg. The prime factors contributing towards the price hike of Potassium Silicate were strong demand from end-use industries and the enhanced prices of feedstock, Silicon Dioxide. Detergent industries is one of the major sectors supporting high demand for Potassium Silicate. Furthermore, enhanced industrial activity has increased the overall usage of Potassium Silicate, especially in the manufacturing industries such as steel industry, hence augmenting the demand. Additionally, inflation in the global economy owing to higher crude oil prices and freight charges have also helped to propel the price of Potassium Silicate in Europe during the first quarter of 2022.
