For the Quarter Ending December 2024
North America
In Q4 2024, Silica prices in the U.S. remained steady overall, with significant growth in November driven by robust construction demand, followed by stabilization in December due to seasonal slowdowns and subdued residential real estate activity.
Consistent domestic production and reliable supply chains ensured a balanced market without surplus or shortages, while manageable input costs supported steady operations. Demand trends varied, with strong activity in November across residential and non-residential construction contributing to earlier price rises, but December saw reduced consumption as elevated mortgage rates, falling home prices, and an 8.6% drop in inventory curtailed residential construction.
Non-residential construction demonstrated moderate resilience, supported by infrastructure investments and specialty trade activity, with overall construction spending flat month-over-month but up 3.0% year-over-year in December. While seasonal factors limited demand, the market-maintained stability, with cautious optimism for Q1 2025 as easing mortgage rates and a post-winter recovery in construction are anticipated to support demand.
APAC
In Q4 2024, Silica prices in China remained stable overall, reflecting balanced market fundamentals amidst mixed demand trends in the construction and real estate sectors. Prices rose by 3.6% in November due to higher input costs and steady industrial demand but stabilized in December as supply remained consistent and construction activity showed marginal recovery. Robust domestic production and efficient logistics ensured ample availability, with export growth to ASEAN and Belt and Road countries offsetting weaker local demand. The construction sector demonstrated cautious recovery, supported by government stimulus and stabilization measures, particularly in major cities like Beijing and Shanghai, where property sales surged by 76.6% YoY. However, challenges in lower-tier cities, including high inventory and foreclosure rates, tempered broader market recovery. Non-manufacturing PMI improvements to 52.2 in December signaled renewed momentum, but regional disparities in performance persisted. As stabilization measures continue and infrastructure projects progress, Silica prices are expected to remain stable or show modest growth in Q1 2025, supported by improving construction activity and export demand.
Europe
Silica prices in Europe showed mixed trends in Q4 2024, starting with stability in October, a 3.6% rise in November, and returning to stability in December. The initial stability reflected a balance between steady supply and subdued demand, as economic and political uncertainties weighed heavily on the construction sector. In November, prices increased due to resilient demand from selective construction segments, particularly in residential and retail markets, despite broader economic challenges like high borrowing costs and political instability in major economies such as Germany and France. By December, prices stabilized again as demand weakened amidst declining new orders and contracting construction activity across the Eurozone. Supply chains remained robust throughout the quarter, supported by consistent production levels and efficient logistics, ensuring steady market availability. While localized resilience in markets like Spain and Italy offered some support, widespread challenges in Germany and France limited overall demand growth. As the European Central Bank continues monetary easing in 2025, the sector's recovery and potential upward momentum in Silica prices will depend on more aggressive fiscal policies and improved investor confidence.
For the Quarter Ending September 2024
North America
Throughout Q3 2024, the Silica pricing landscape in North America remained stable, with no significant changes in prices observed. This stability was influenced by various factors, including balanced supply and demand dynamics, consistent production levels, and steady construction activity supporting the stable demand for Silica.
The market maintained a positive outlook, driven by expected resilience in demand from the construction sector, particularly in non-residential projects. The USA experienced notable price changes during this period, with a recorded 1% increase from the previous quarter. Despite this fluctuation, the overall trend for Silica prices in the region remained steady.
Seasonal demand fluctuations and market resilience were key drivers of price stability, with minimal price variance between the first and second half of the quarter. The quarter concluded with Silica prices standing at USD 51/MT for Industrial Silica Sand Glass Grade FOB New York in the USA. No supply disruptions were reported for the product during this period, maintaining the overall stable pricing environment.
Asia
In Q3 2024, the APAC region witnessed stable prices for Silica, reflecting a balanced market environment. Several factors contributed to this stability, including consistent supply levels, steady demand from various industries like manufacturing and construction, and overall economic conditions. The market remained resilient despite global challenges, with no significant disruptions reported during the quarter. However, China stood out with notable price changes for Silica, experiencing slight declines amidst economic uncertainties and a sluggish real estate market. The country's construction sector faced challenges, leading to divergent price movements compared to the rest of the region. Despite these fluctuations, the overall trend for Silica pricing in APAC remained stable, showcasing a correlation in price changes and reflecting a cautious yet steady market sentiment. Comparing Q3 2024 to the same quarter last year, the prices remained consistent, indicating a stable pricing environment. Moreover, the quarter showed no significant price variance between the first and second half, further underscoring the stable pricing landscape. The quarter-ending price for Industrial Silica Sand Glass Grade CFR Qingdao in China stood at USD 57/MT, highlighting the prevailing stable pricing conditions in the region.
Europe
Throughout Q3 2024, the Silica market in Europe witnessed a consistent decline in prices, influenced by several key factors. The ongoing downturn in the eurozone construction sector, characterized by reduced activity and demand, played a significant role in shaping market prices. This decrease can be attributed to the prolonged weakness in the construction industry, particularly in major economies like Germany, France, and Italy, leading to subdued demand for Silica. The persistently low official economic indicators further highlighted the challenging environment for construction-related materials. Germany, experiencing the most significant price changes in the region, saw a notable -2.4% decrease from the previous quarter, reflecting the overall negative trend in Silica pricing. Seasonal fluctuations and supply chain disruptions also contributed to the downward pressure on prices. The comparison between the first and second half of the quarter revealed a continuous -2% decrease, emphasizing the sustained decline in Silica prices. The quarter-ending price of USD 55/MT for Industrial Silica Sand Glass Grade FOB Hamburg in Germany encapsulates the prevailing negative pricing sentiment in the market.
MEA
Throughout Q3 2024, Silica pricing in the MEA region remained stable, with Saudi Arabia experiencing the price rollover consistently for three months. The overall market stability was influenced by balanced demand and supply dynamics globally, with consistent pricing trends observed due to lacklustre demand in the construction sector. Seasonal factors continued to impact market conditions, while supply chain issues, particularly container shortages in Asia, led to elevated freight costs, affecting commodity prices. In Saudi Arabia, price fluctuations were notable, with a 2% increase recorded from the previous quarter. Despite this, the comparison between the first and second half of the quarter showed no price change, indicating relative stability. The quarter-ending price stood at USD 48/MT for Industrial Silica Sand Glass Grade FOB Jeddah. No plant shutdowns or major supply disruptions were reported during this period, contributing to the overall supply stability. The pricing environment in Q3 2024 for Silica in the MEA region can be characterized as stable, with fluctuations driven by global market conditions and supply chain challenges.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American silica market maintained a stable pricing environment, primarily due to a balanced demand-supply equation. Consistent industrial activities and sufficient mining outputs supported this stability. Minimal disruptions and no significant plant shutdowns further reinforced the market's steadiness. Seasonal factors, such as the onset of summer, led to a slight dip in construction activities, which marginally tempered demand but did not substantially impact the overall market dynamics. In the USA, the market experienced the most noticeable price fluctuations within North America.
The second quarter saw a 2% decrease in prices from the previous quarter, reflecting a slight downward trend due to moderated demand from both domestic construction and export markets. Economic indicators showed a mixed performance in the construction sector: residential investments remained stable, while the multifamily segment saw slight declines. Despite these sectoral variations, the overall trend remained stable, supported by ample product availability and effective inventory management.
A comparison between the first and second halves of the quarter revealed no significant price variations, underscoring the market's equilibrium. At the end of the quarter, the price of Industrial Silica Sand Glass Grade was USD 50/MT DEL New Jersey, reflecting a stable pricing sentiment. The quarter was characterized by stability, with neither significant positive nor negative extremes, ensuring a balanced outlook for the silica market.
Europe
In Q2 2024, the European Silica market experienced stable prices due to balanced supply and demand dynamics. The quarter was marked by steady production rates and moderate inventory levels, ensuring adequate availability of Silica across the region. Although global freight rates fluctuated and there were minor supply chain disruptions, such as the Red Sea conflict impacting shipping costs, the European market remained stable due to sufficient local supply and consistent furnace operations. In Germany, the market saw the most significant price fluctuations, driven by challenges in the construction sector. A persistent downturn in residential construction and underperforming public construction projects put downward pressure on Silica demand. However, commercial construction provided some relief, preventing a more pronounced decline. The overall demand for Silica remained subdued due to reduced construction activities, high-interest rates, and economic uncertainties. Despite these challenges, pricing in Germany remained stable throughout the quarter. The Silica market experienced a -3% change from the previous quarter, reflecting stable prices overall. There was no notable difference between the first and second halves of the quarter, resulting in a 0% price change. The quarter-ending price for Industrial Silica Sand Glass Grade FOB Hamburg was USD 57/MT, highlighting the stable market conditions. Overall, the quarter was characterized by a stable pricing environment, with the German market demonstrating resilience despite external pressures and internal economic challenges. This stability indicates a robust market structure capable of handling moderate fluctuations in demand and supply.
APAC
In Q2 2024, the Silica market in the APAC region experienced a notable uptrend in prices, driven primarily by robust demand and a balanced supply situation. Significant factors contributing to this price increase included heightened activity in the construction sector and the production of machinery and equipment, alongside government initiatives such as the Production Linked Incentive Scheme. This growth momentum was largely sustained by stable freight rates and an unexpectedly strong restocking cycle by European importers, which intensified shipment volumes from Asia to Europe. Despite supply chain disruptions and capacity constraints in the freight market, Silica prices remained buoyant. Focusing on China, which saw the maximum price fluctuations, the overall trend was bullish throughout the quarter. A confluence of factors, including a newly announced support package for the construction sector, aimed at reducing mortgage rates and converting unsold apartments into affordable housing, played a critical role in bolstering demand. This had a direct correlation with price increases in Silica, as the market responded to both domestic policy support and global demand dynamics. The price comparison between the first and second half of the quarter indicated a 2% increase, reflecting a consistent upward trajectory. The quarter ended on a strong note, with the price of Industrial Silica Sand Glass Grade CFR Qingdao reaching USD 58/MT. The pricing environment for Silica in Q2 2024 can be characterized as positive and optimistic, with no significant plant shutdowns or disruptions reported during this period. Despite the backdrop of potential challenges, the market conditions remained conducive to sustaining higher price levels, thus reinforcing the narrative of a bullish market sentiment.
MEA
In the second quarter of 2024, the MEA region experienced a largely stable pricing environment for Silica, with balanced market dynamics. The Industrial Silica Sand Glass Grade market maintained steady trends due to consistent supply levels and moderate demand from the downstream construction sectors. Key factors contributing to this stability included ample product availability, robust production levels, and a balanced demand-supply gap, which collectively prevented significant price fluctuations. The expansion of the non-oil economy and steady construction activity further supported stable Silica prices. In Saudi Arabia, the most notable price changes within the region occurred, but remained within a controlled range. The quarter showed a stable trend without significant seasonality impacting prices. The correlation between strong supply and steady demand was clear, as inventories remained ample and regulatory measures ensured market compliance. The quarter began with a 2% price decline from the previous quarter, reflecting subdued demand from the downstream cement sector. However, prices stabilized during the second half of the quarter, with no variation between the first and second halves, underscoring a theme of stability. The latest quarter-end price for Industrial Silica Sand Glass Grade FOB Jeddah was USD 48/MT. This consistent pricing suggests a neutral market sentiment, supported by sufficient supply and balanced demand. No significant plant shutdowns or disruptions were reported during this period, further contributing to the stable market conditions.
For the Quarter Ending March 2024
North America
The Silica market in North America experienced a relatively stable pricing environment during Q1 2024. Prices for Industrial Silica Sand Glass Grade remained unchanged in both Canada and the USA, despite some fluctuations in demand and supply. In Canada, prices for Silica remained stable throughout the quarter.
The market sentiment was balanced, with supply remaining mostly stable and regular buyers receiving their cargo on time. However, the construction sector continued to struggle, leading to low demand for the product. The peak winter season also contributed to the subdued demand. Despite these factors, prices remained unchanged, indicating a balanced demand-supply gap. In the USA, the pricing situation for Silica was also stable. Supply remained stable, with no significant disruptions reported. Demand, however, remained low as the construction sector faced challenges in gaining momentum. Winter weather conditions also impacted supply chain operations, leading to reduced purchasing activity from downstream industries. Nevertheless, prices remained unchanged, suggesting a harmonious balance between demand and supply.
Overall, the Silica pricing trend in North America during Q1 2024 was characterized by stability, with no significant price changes observed. The market was influenced by factors such as the winter season, construction sector performance, and supply chain disruptions. Looking ahead, the arrival of the summer season may support a price uptrend, and an improvement in demand is expected in the regional market. However, the market is likely to remain cautious due to the lingering effects of the bearish market situation in Europe and North America. The quarter-ending price for Industrial Silica Sand Glass Grade FD Vancouver in Canada was USD 67/MT.
APAC
Silica pricing in the APAC region for Q1 2024 has been relatively stable, with minimal changes observed in most countries. The overall market situation can be described as balanced, with supply and demand remaining stable. However, China has experienced the maximum price changes during this period. Various factors have influenced market prices for Silica. The low demand from the domestic construction sector has been a significant concern, leading to a lackluster demand for construction-related materials, including Silica. Additionally, the peak winter season has further dampened the demand for the product. In China, Silica prices remained unchanged during February 2024. The domestic construction sector continues to struggle, with low demand impacting prices. Looking at the overall trends, Silica prices have remained stable in the APAC region. The seasonal lull and subdued construction activities have contributed to the balanced demand-supply situation. In Q1 2024, the quarter-ending price for Silica in China was USD 57/MT of Industrial Silica Sand Glass Grade CFR Qingdao. This price remained unchanged throughout the quarter, highlighting the stability of the market. Overall, the pricing environment for Silica in the APAC region has been stable, with no significant fluctuations in the prices during this timeframe.
Europe
The Silica pricing in the Europe region for Q1 2024 saw a stable market environment with a slight decline in the prices. Overall, the demand for Silica remained low due to the struggling real estate and construction sectors in Europe. High inflation and interest rates also contributed to the downturn in the market. In terms of supply, there were no significant disruptions reported, and supplies remained stable throughout the quarter. However, some countries experienced supply chain disturbances due to winter weather conditions, leading to a moderate to low supply of Silica. Belgium, in particular, saw the maximum price changes during this period. Prices remained unchanged in January, but there was a decline in February by 1.6% for Industrial Silica Sand FOB Antwerp. However, prices rebounded in March and remained unchanged, indicating a balanced demand-supply situation in the country. The quarterly price comparison showed a decline in prices from the previous quarter in 2024, with a decrease of 1.6%. However, comparing the first and second halves of the quarter, no significant price difference was observed. In conclusion, the Silica pricing environment in the Europe region for Q1 2024 was stable overall, with some fluctuations in Belgium. The struggling construction sector and low demand influenced the market prices. The latest quarter-ending price for Industrial Silica Sand FOB Antwerp in Belgium was USD 61/MT.
MEA
Silica pricing in the MEA region for Q1 2024 experienced a relatively stable market environment. The prices of silica remained unchanged during that period, with no significant fluctuations observed. This stability could be attributed to a balanced demand-supply gap in the market. Despite the peak winter season, which typically hinders consumption growth, the demand for silica remained subdued worldwide. This lackluster demand kept prices stable throughout the quarter. In Saudi Arabia, the country that saw the maximum price changes, silica prices also remained unchanged during that period. The overall trend in the country mirrored the global market, with a balanced demand-supply situation and limited fluctuations in prices. The winter season did not have a significant impact on the demand for silica in Saudi Arabia, leading to stable prices. When comparing Q1 2024 to the same quarter last year, there was no percentage change mentioned in the provided data. Therefore, it was not possible to provide specific figures on these comparisons. The latest quarter-ending price for Industrial Silica Sand Glass Grade FOB Jeddah in Saudi Arabia was USD 48/MT.