Sodium Silicate Prices: Trend, Pricing, Analysis | ChemAnalyst

North America:

In the third quarter of 2023, the cost of Sodium Silicate in North America saw a decline, as reported by ChemAnalyst. The United States manufacturing sector faced persistent challenges during this period, marked by a significant drop in new orders and subdued domestic demand from the construction industry. This challenging business environment resulted in substantial reductions in inventory as companies scaled back their procurement activities. The downstream manufacturing performance remained lackluster, adding constraints to global trade growth. The decrease in new orders can be attributed to prevailing economic conditions, leading customers to exercise caution in entering into new contracts or making purchases. Although there were some inflationary pressures, they remained relatively moderate. Weak demand for Sodium Silicate during this period was primarily due to the absence of fresh orders from potential buyers. With an adequate supply of materials meeting domestic needs and an average level of activity in the construction industry, there was no significant urgency to place new orders. This demand stability contributed to the overall status of the Sodium Silicate market.

Asia:

According to ChemAnalyst, the price of Sodium Silicate in the Chinese market displayed 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. The initial part of the quarter saw further hindrance in Sodium Silicate demand due to extensive rainfall negatively impacting the construction, cement, and ceramic sectors in China. Companies in the construction sectors had been using existing stock levels, resulting in a decline in new orders from potential customers. Additionally, export orders experienced a gradual decline in August, leading to a significant accumulation of Sodium Silicate in the Chinese market. This surplus supply contributed to the observed negative price movement in the Sodium Silicate market. A similar pricing trend was noted in other Asian countries like Vietnam and Indonesia, which imported from the Chinese market at affordable prices throughout the third quarter of 2023.

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Europe:

In the European market during the third quarter of 2023, Sodium Silicate prices exhibited a mixed trend. Deteriorating demand conditions in France led to a reduction in input purchases by manufacturers in July and August, marking the steepest decline of the year. The construction industry, including housing construction, experienced 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. However, towards the end of the quarter, Sodium Silicate prices experienced a sudden increase due to a shortage in supply among enterprises. Despite the downturn in the downstream construction industry, there was a slight uptick in the purchase of Sodium Silicate in the domestic market. Manufacturers in the domestic market raised the product’s price due to its limited availability in the European market. The extended period of decline had depleted the product’s availability, but during this month, there was a slight improvement in demand, prompting the need to restock the product in the market. A similar pricing trend was observed in other European countries such as Germany and the Netherlands, primarily due to the prolonged decline in the construction sector.