Potassium Silicate Prices in South Korea
- South Korea: 995 USD/MT
In the last quarter of 2023, the price of potassium silicate in South Korea was 995 USD/MT.
The latest report by IMARC Group, titled "Potassium Silicate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of Potassium Silicate Prices. This report delves in globally, presenting a detailed analysis, along with an informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Potassium Silicate Prices:
- Poland: 1210 USD/MT
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The study delves into the factors affecting Potassium Silicate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Potassium Silicate Price Trend
The potassium silicate industry is being propelled by several key factors. Foremost among them is its versatile application across various industries, including agriculture, construction, and detergents. In agriculture, potassium silicate is increasingly valued for its role as a fertilizer and soil conditioner, enhancing plant growth and resistance to diseases and pests. This has become particularly crucial as the global demand for sustainable farming practices intensifies.
The construction industry also drives demand due to potassium silicate’s use in producing fire-resistant and eco-friendly building materials. Furthermore, the detergent industry utilizes potassium silicate for its effective cleaning properties and its role as a corrosion inhibitor, which has gained importance in both industrial and household cleaning products. The push toward green chemistry and environmentally friendly products has further accelerated market growth, as potassium silicate is considered less harmful to the environment compared to alternatives.
Several factors have influenced the prices of potassium silicate in the last quarter. One of the primary factors is the fluctuation in raw material costs. During the fourth quarter of 2023, the potassium silicate industry in North America underwent notable changes influenced by various factors impacting prices and market conditions. There was a modest decrease in demand, particularly with limited growth observed in the construction sector. This decline was caused by lower purchasing activity and diminished orders for potassium silicate. Besides, the fourth quarter of 2023 in the Asia Pacific region witnessed a challenging period for the potassium silicate industry.
The market experienced a bearish trend, primarily due to sluggish demand and an oversupply of the product. One of the major factors impacting the market was the decline in the downstream construction industry, which resulted in reduced demand for potassium silicate. Additionally, the availability of cost-effective imported goods from overseas markets further intensified the downward pressure on prices. Moreover, in the fourth quarter of 2023, the market in Europe encountered a challenging period but showed signs of recovery by the end of the quarter.
The demand for potassium silicate remained consistently low, mainly attributed to the slowdown in the construction sector, a significant consumer of the product. The construction industry in the region experienced substantial downturns, resulting in decreased activity and a reduced demand for building materials and related products.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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