Potassium Silicate Prices

Potassium Silicate Prices June 2024

During the second quarter of 2024, potassium silicate prices observed a steady decrease in costs, reaching 832 USD/MT. This was mainly attributed to oversupply and reduced demand in ceramic and construction sectors. High inventory levels and monetary concerns further intensified the price drop. Seasonal patterns, particularly the reduced activity over the monsoon, added to the sluggish market conditions.

The potassium silicate prices in Poland reached 1,258 USD/MT during June 2024. The market saw a notable price increase throughout the Q2 2024 owing to a continuous lack of supply and rising expenses for production. Disruptions in logistics and seasonality effects, along with decreased stock levels, pushed prices higher. The country's market dynamics showed high demand despite facing major challenges in its distribution network, creating a positive pricing environment.

Potassium Silicate Prices December 2023

The price of potassium silicate in South Korea saw a decline in the last quarter of 2023. This is due to the reduction in new orders and high inflation rates, pushing companies to take caution in their purchasing decisions. Also, there were year-on-year (YoY) price fluctuations, which resulted in the market price stopping at 995 USD/MT.

The market for potassium silicate in Poland saw a mix in price trends. In the first two months of the quarter, there was a consistent decline in prices because of reduced construction activities. However, due to shortages in supply of potassium silicate, that was created by manufacturers, the prices hiked in December, reaching 1,210 USD/MT.

Regional Coverage

The report provides a detailed analysis of the potassium silicate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the potassium silicate price trend.

Global Potassium Silicate Price

The report offers a holistic view of the global potassium silicate pricing trends in the form of potassium silicate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into potassium silicate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into potassium silicate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed potassium silicate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Potassium Silicate Price

Q2 2024:

During the second quarter of 2024, prices in Europe increased sharply owing to a complex blend of improving business sentiment and supply chain disruptions. Extreme weather, specifically heavy floods in Germany, impacted key shipping routes, creating logistical bottlenecks and increasing transportation costs. At the same time, geopolitical instability and shipping delays exacerbated supply challenges. Poland faced major price hikes because of limited supplies and costly manufacturing. As the quarter progressed, seasonal factors and diminishing stock levels contributed to a sustained upward trend in prices, with the market showing resilience despite ongoing hindrances.

Q1 2024:

In the first quarter of 2024, the European market displayed mixed trends. Prices decreased at the beginning of the quarter, but later a slow rebound took place. Germany, an important player in the area, experienced significant price changes due to factors like economic uncertainties and decreasing use in the construction industry, leading to reduced demand. Rising rate of interest and supply chain disturbances, owing to geopolitical concerns and transportation challenges, also played a role. Mid-quarter, low inventories pushed prices higher, with no significant plant shutdowns reported. However, the market dynamics were influenced by the fluctuating demand outlook, especially in the construction sector.

Q4 2023:

The European region experienced a mixed trajectory in price trends during fourth quarter of 2023. Initially, the price remained low due to a drop in activities in the construction sector. However, towards the end of December, there was a surge in prices owing to product shortages created by manufacturers.

This analysis can be extended to include detailed potassium silicate price information for a comprehensive list of countries.

North America Potassium Silicate Price

Q2 2024:

During the second quarter of 2024, the North American market faced considerable instability, marked by an overall decrease, with a recovery in late June. The quarter saw significant challenges, including issues in distribution channels driven by transit disruptions and looming labor strikes within major rail networks. While the Panama Canal Authority tried to reduce some logistical pressures, overall market disruptions continued. The drop in demand initially occurred because of reduced manufacturing and construction expenditures, impacted by the rising rate of interest. However, a late-quarter resurgence in infrastructure and private construction projects helped boost demand, resulting in a market rebound.

Q1 2024:

During the first quarter of 2024, the North American market showed a varied pattern. Although the general pattern stayed consistent, there were more noticeable fluctuations in the USA. After an initial price rise in January, the market stabilized mid-quarter. Import costs had a small impact on the rise in local prices, as construction growth and a positive business outlook propelled demand. The strong business environment, marked by increased new orders and economic activity, bolstered confidence. Freight charges also played a role in pricing shifts, though ample supply in the local market kept the increases minimal. Traders adjusted prices accordingly, maintaining a balance between supply and demand.

Q4 2023:

In North America, the potassium silicate market witnessed a decline in price trends in Q4FY2023 because of low demand from the construction industry. Moreover, the availability of potassium silicate inventory stocks led to a dip in prices. Therefore, the reduced number of orders and low purchasing activity was responsible for the decrease in prices.

Specific potassium silicate historical data within the United States and Canada can also be provided.

Middle East and Africa Potassium Silicate Price

The report explores the potassium silicate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on potassium silicate prices for countries can also be provided.

Asia Pacific Potassium Silicate Price

Q2 2024:

The Asia Pacific region experienced consistent price drops throughout the second quarter of 2024, heavily influenced by low usage by major industries like construction and ceramics, coupled with high stock levels. A surplus of supply, along with economic uncertainties, caused a drop in prices, further exacerbated by logistical challenges at crucial ports. Even though there was a uniform availability of supply, order from local and international markets stayed low. Seasonal influences, such as reduced usage over monsoon, further exacerbated the market's results, and the wider regional market continued to face difficulties with too much supply and weak demand.

Q1 2024:

At the beginning of 2024, the Asia Pacific region experienced consistent pricing, aside from a mid-quarter drop in cost, followed by stable expenses. Demand and supply remained balanced, contributing to this stability. South Korea experienced the most notable price changes, with a downturn driven by reduced demand in sectors like chemical and construction derivatives. High inventory levels also contributed to this trend. The holidays further dampened procurement activities, reducing demand. In general, the market was sufficiently stocked, with prices indicating a weaker market in comparison to the prior year because of low usage and sufficient product availability.

Q4 2023:

The potassium silicate pricing in the Asia Pacific region witnessed a subdued market trajectory in the last quarter of 2023. This is due to low product demand from the construction industry and the availability of surplus inventory. In addition, the import of cost-effective items from around the world resulted in a downward price movement.

This potassium silicate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Potassium Silicate Price

The analysis of potassium silicate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Potassium Silicate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Potassium Silicate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of potassium silicate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of potassium silicate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of potassium silicate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing potassium silicate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Potassium Silicate Market Analysis

The global potassium silicate industry size reached 459.1 Thousand Tons in 2023​. By 2032, IMARC Group expects the market to reach 550.2 Thousand Tons, at a projected CAGR of 2.00% during 2023-2032.

• The market expansion is being supported by the growing agriculture sector, which makes use of potassium silicate as a silicate-based fertilizer. This compound is known to enhance plant resistance to pests and diseases which are necessary to increase nutrient absorption and improve drought resistance. By 2050, there will be 10 billion people on the planet, as per the recent World Bank findings. As a result, there will be more pressure on agricultural land to produce, which, in turn, will push farmers to use silicate-based fertilizers.
• The expansion of the construction sector, especially in emerging economies of the world, creates a substantial potassium silicate demand. This compound is used in concrete hardening, water-resistant coatings, and fireproofing materials. Asia Pacific’s real estate and construction industry is growing rapidly and will acquire 40% of the total construction output by 2030, as estimated by Euromonitor. It is also growing at a yearly pace of 6%, which is higher than in Western Europe and North America. With this data, increased potassium silicate use is evident to meet the standards for durability and safety.
• The increasing problem of fungal diseases affecting crops makes potassium silicate a popular choice thanks to its fungicidal properties. The compound has the ability to form a protective barrier on plant surfaces against fungal infections. Around 19,000 fungi are known to cause diseases in crop plants worldwide. Growers lose between 10 and 23 percent of their crops to fungal infection each year. An additional 10-20 percent is lost post-harvest. In a commentary in Nature published in May 2023, academics predict that those figures are projected to worsen as global warming rises. This has increased the importance of potassium silicate in the agricultural sector to protect plants.
• Amidst the increasing environmental concern, the paint and coatings industry is adopting potassium silicate as it requires materials that provide durability and environmental resistance. Potassium silicate-based paints and coatings are known to provide non-toxicity and durable nature. This sector is growing at a speeding pace with a 3.1% growth rate. Potassium silicate’s use in the Asia-Pacific paint and coatings market, which was valued at USD 63 billion in 2022, is also expanding the market reach. In this region, China was known as the largest market with a sale of USD 45 billion. This has increased the demand for potassium silicate in the Asia-Pacific region.

Potassium Silicate News

The report covers the latest developments, updates, and trends impacting the global potassium silicate industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in potassium silicate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the potassium silicate price trend.

Latest developments in the potassium silicate industry:

• July 2024: Researchers at the Technical University of Denmark (DTU) announced the development of a potassium silicate-based solid-state battery material, which could serve as an eco-friendly and efficient alternative to lithium-ion batteries. This technology, expected to be commercialized within a decade, enhancing battery performance and safety for electric vehicles (EVs).
• August 2024: Celebrity hairstylist Jen Atkin partnered with Vital Proteins to launch a new product, Hair Complex, which contains potassium silicate and other ingredients to promote hair health. The product is available on Vital Proteins' website and Amazon.

Product Description

Potassium silicate is an inorganic compound that is used as a binder, cement, and adhesive in various applications. It is a water-soluble silicate made by combining silica sand and potassium carbonate at high temperatures and is available in liquid or powdered forms. Potassium silicate exhibits unique properties, such as high heat resistance, durability, and strong binding capabilities. It is valuable in materials, including fireproofing mixtures and cement formulations, and is also lauded for its ability to resist fungal growth.

Potassium silicate finds applications in the production of welding rods, detergents, refractory materials, fertilizers, pesticides, coatings, and the automotive and aerospace industries. It offers numerous benefits, such as enhancing plant strength and stress resistance in agriculture, improving the durability of building materials, and providing fire resistance in construction applications. Additionally, it is lauded for its environmental resistance, adhesion properties, longevity, and cost-effectiveness.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of potassium silicate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting potassium silicate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The potassium silicate price charts ensure our clients remain at the forefront of the industry.