For the Quarter Ending September 2024
North America
In Q3 2024, the North American Sodium Silicate market saw a consistent increase in prices, particularly in the USA, which was most significantly affected. This surge was driven by several factors, including supply chain disruptions from plant shutdowns at Occidental Chemical Corporation (OxyChem) in Texas and Alabama due to hurricanes. These shutdowns led to supply constraints that impacted pricing dynamics. Additionally, rising global freight rates and container shortages contributed to increased costs for materials.
Despite these challenges, the region also experienced increased construction activity and job growth, which influenced the pricing trend positively compared to the previous quarter. The supply of Sodium Silicate in the US market remained moderate, with merchants holding sufficient inventory to meet domestic demand. Overall, the quarter recorded a 6.5% increase in prices.
By the end of the quarter, the price for Sodium Silicate Glass CFR New York in the USA reached USD 470/MT, reflecting the overall trends in the market. This figure highlights the ongoing impact of both localized disruptions and broader market dynamics on pricing trends in the sodium silicate sector.
APAC
In the third quarter of 2024, Sodium Silicate prices in the APAC region remained stable, particularly in China, where the market demonstrated a consistent pricing trend. Several factors contributed to this stability. Various factors have influenced market prices. The Chinese Sodium Silicate market continued its stable trend driven by sluggish demand in the construction sector and persistent supply challenges exacerbated by port congestion. The slowdown in factory activity has intensified economic strain, particularly amidst a prolonged property sector crisis. Downstream construction units primarily engaged in on-demand purchasing, with speculative market demand weakening and resulting in sluggish shipments The quarter-ending price for Sodium Silicate Glass, FOB Qingdao in China stood at USD 295/MT. Seasonality and correlation in price changes have played a crucial role in maintaining stability in the pricing environment. Despite disruptions like plant shutdowns, such as the one Qingdao Haiwan Chemical Co., Ltd. in China, the market has remained stable. Overall, the pricing trend has been balanced, with no significant positive or negative shifts observed throughout the quarter.
Europe
In Q3 2024, the European Sodium Silicate market witnessed a significant decrease in prices, with Netherlands experiencing the most notable price changes. The overall trend in the region was characterized by decreasing prices, driven by reduced demand from the construction and glass sectors. Across Europe, prices also fell due to the availability of cheaper imported materials and sluggish downstream demand. The Eurozone construction industry remains under pressure, with September reporting a continued decrease in housing activity, significantly dampening demand for Sodium Silicate. Escalating global logistics costs, stemming from disruptions in the Red Sea region, played a significant role in the pricing dynamics. The conflict in the Red Sea led to port congestion, equipment shortages, and higher operational costs, impacting supply chains and leading to price surges. Netherlands, in particular, saw prices decline by 11% from the previous quarter. The market also experienced disruption due to plant shutdowns in Poland and Romania, affecting production and supply. The quarter-ending price for Sodium Silicate Glass FOB Rotterdam in Netherlands stood at USD 254/MT, reflecting the overall negative pricing environment in the region during Q3 2024.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Sodium Silicate market experienced a significant upward trend after declining in the first month of the quarter, marked by several influential factors. This quarter saw heightened construction activity, which played a pivotal role in driving up demand for Sodium Silicate. An increase in freight rates emphasized the cost of imported materials, further exacerbating the pricing scenario. The general market sentiment reflected a tightening of vessel space availability, contributing to elevated freight charges. Strong purchasing sentiments and robust downstream construction activities provided additional upward pressure on prices. Furthermore, there were no notable disruptions or plant shutdowns recorded during this period, ensuring an uninterrupted supply that could not, however, curb the rising prices.
Focusing on the USA, the country witnessed the most pronounced price changes within the region. Seasonality played a crucial role, with significant price hikes observed due to the traditional peak in construction activities during this quarter. The correlation in price changes was evident with broader economic indicators showing an increase in construction employment and a reduction in the construction unemployment rate.
Conclusively, the pricing environment for Sodium Silicate in Q2 2024 has been decidedly positive, culminating in a quarter-ending price surge of 9% for Sodium Silicate glass grade CFR New York. The consistent rise in prices underscores the strong demand dynamics and the influence of external cost factors shaping the market.
APAC
In Q2 2024, the Sodium Silicate market in the APAC region experienced a pronounced increase in prices, driven by several key factors. A significant rise in global freight rates and tight vessel space availability have elevated the overall cost of imports, contributing notably to the upward price trend. Additionally, increased raw material costs and currency fluctuations have compounded the issue, leading to higher production expenses for manufacturers. The construction sector, a primary consumer of Sodium Silicate, saw renewed vigor, which further bolstered demand and prices. Despite moderate supply levels and no major plant shutdowns recorded during this period, delivery times lengthened slightly due to geopolitical challenges and goods shortages, further straining the supply chain.
Japan has seen the most substantial price changes in the region. The country exhibited significant seasonal price fluctuations, with demand peaking during the quarter, driven by robust construction activity and a rebound in cement production. The overall trend has been markedly bullish, with prices demonstrating a consistent rise. The price elevation for Sodium Silicate Glass CFR Osaka in Japan was 5% in May and the product cost remained stable for June, reflecting a positive pricing environment driven by heightened demand and constrained supply.
Europe
In Q2 2024, the European Sodium Silicate market experienced a steady price increase by quarter end, however, declined in April driven by a combination of factors. The overall positive pricing environment was influenced by heightened infrastructure spending, a mild rebound in housing activities, and government initiatives aimed at promoting construction. Despite lingering economic challenges, the moderately increased demand for construction materials led to an uptick in Sodium Silicate prices. Improved supplier delivery times and the increased availability of subcontractors also contributed to stabilizing the market, helping to mitigate any potential supply chain disruptions The German market reflected an overarching trend of cautious optimism, driven by a seasonal uptick in construction activities during the warmer months. The market also benefitted from restocking efforts by merchants, which temporarily boosted demand. Moreover, the regulatory environment, though stringent, facilitated a clearer pathway for construction projects, thereby supporting increased consumption of Sodium Silicate. The quarter concluded with Sodium Silicate Glass FOB Rotterdam in the Netherlands surged by 1.6% in June 2024, affirming that the pricing environment, while marked by cautious sentiment, remained fundamentally stable and incrementally positive. Notably, there were no significant disruptions or plant shutdowns reported during the quarter, ensuring a consistent supply and further supporting the upward pricing trajectory.
For the Quarter Ending March 2024
North America
In Q1 2024, the Sodium Silicate pricing dynamics in the North America region were influenced by various factors beyond the conventional top three. The overall trend in the market was mixed, with fluctuations in pricing observed in the USA, where the market is most pronounced. The seasonality of the market played a role in price changes, with the winter months typically experiencing supply disruptions and higher freight costs due to extreme weather conditions. Additionally, the correlation between Sodium Silicate prices and other construction materials impacted the market, as higher prices of other materials led to reduced demand for construction services and subsequently affected Sodium Silicate demand.
Compared to the same quarter last year, the year-over-year price change for Sodium Silicate in Q1 2024 was a decrease of USD 10/MT. This decrease can be attributed to various factors, including lower domestic demand, cheaper imports from overseas markets, and higher prices of other construction materials.
Considering the final quarter's price for Sodium Silicate Glass CFR New York in the USA, which is USD 460/MT, it can be concluded that the market experienced a decline in prices compared to the previous quarter. This decrease can be attributed to the aforementioned factors, including lower demand and the availability of cheaper imports.
APAC
In the APAC region, the Sodium Silicate market witnessed varied pricing dynamics in Q1 2024. While the overall trend suggests a sluggish market, it is important to consider multiple factors beyond the conventional top influences. The market situation in Japan, where the price fluctuations were most pronounced, played a significant role in shaping the overall pricing dynamics. The construction sector in Japan experienced a decline in new orders, leading to subdued demand for Sodium Silicate. Additionally, the volatile performance of the construction sector, coupled with delayed projects such as the World Expo 2025 pavilions in Osaka, further impacted the demand and pricing. The availability of Sodium Silicate in the market remained moderate, with ample supply from other Asian markets. However, geopolitical uncertainties in the Middle East and Europe, along with shipping delays due to disruptions in the Red Sea and the impact of the Noto earthquake, affected the supply chain. In terms of price comparison, there was a significant decrease in prices compared to the same quarter last year, reflecting the challenging market conditions. The final quarter's price for Sodium Silicate Glass CFR Osaka in Japan stood at USD 320/MT.
Europe
In Q1 2024, the pricing dynamics of Sodium Silicate in the European region were influenced by multiple factors beyond the conventional top three. Despite a slowdown in downstream construction activities, the price of Sodium Silicate showed a mixed trend due to limited product availability. The disruptions in the ocean route affected the raw materials inventory, leading to delayed deliveries, increased purchasing costs, and production disruptions. The construction industry in the European market remained subdued, with a lack of new projects and hesitancy among consumers to spend money. The Dutch construction sector faced a challenging month in February, with a sharp decline in activity levels and cutbacks in employment and input purchasing. The pricing trend in the Netherlands was most pronounced, with a bearish pattern in Q1 2024. EUROSTAT reported a construction confidence indicator of -19.80% in March 2024, indicating a lack of optimism. However, the final quarter's price for Sodium Silicate Glass FOB Rotterdam in the Netherlands was USD 310/MT.
For the Quarter Ending December 2023
North America
In the fourth quarter of 2023, the Sodium Silicate market in North America experienced an increasing price trend, influenced by costly imported cargo from Asian markets. The rise in the US non-manufacturing Purchasing Managers' Index (PMI) compared to October indicated an improvement in the construction sector, leading to heightened demand for the product. The sustained increase in business activity suggested an ongoing positive momentum in the construction industry, maintaining the upward price trend of the product through the final month of the quarter.
Additionally, shipping charges from Asia to the US escalated due to the conflict involving Houthi Armed forces in the Red Sea area. In the US market, construction activity demonstrated a moderate pace in December, with housing activity playing a crucial role in supporting the industry. Despite increased borrowing costs, construction spending remained stable, while the manufacturing sector encountered persistent challenges.
The constrained supply from China, coupled with elevated product prices, had an impact on the US market. Furthermore, disruptions in shipping routes in the Red Sea, stemming from tensions related to the Israel-Gaza war, were observed. Additionally, significant impediments to container transport through the Panama Canal, caused by lower water levels, further contributed to an escalation in freight costs in the overseas market.
APAC
In the fourth quarter of 2023, the Sodium Silicate market in the Asia-Pacific (APAC) region exhibited a mixed price pattern. In October, Sodium Silicate prices experienced a notable decline primarily attributed to the absence of growth in new orders from the downstream construction industry. Surprisingly, the manufacturing index recorded a decrease in October compared to September, albeit remaining above the limit. This decline was largely influenced by reduced activity in the extensive service sector and construction, indicating a level of demand weakness associated with a slowdown in the housing market and a deceleration in infrastructure spending in various Chinese regions. During the mid and final months of the quarter, prices experienced a sudden rise due to high-cost pressure from raw materials. This upward pressure impacted the final prices of Sodium Silicate across the APAC region during this period, even in the face of declining downstream activities. Despite the challenges in the construction sector, the cost dynamics of raw materials played a significant role in shaping the Sodium Silicate market in the region during the latter part of the fourth quarter.
Europe
In the fourth quarter of 2023, the Sodium Silicate market in the European region exhibited a mixed price pattern. In October, the price of Sodium Silicate continued its downward trajectory primarily due to weak demand from the downstream construction industry. The manufacturing sector in Germany faced production challenges as a prolonged period of reduced new orders in October affected production levels. Some companies noted that customers were actively reducing inventories and delaying investments, indicative of a cautious approach driven by uncertainties and elevated interest rates. Despite the decline in downstream activities, the cost of the product increased due to limited availability and cost pressures from raw materials. Additionally, imported cargo from Asian markets reflected elevated prices in the German market. Towards the end of the quarter, the price experienced a decrease as the year ended. The overseas market destocked the material at an affordable price, contributing to the overall downward price movement. Reduced workloads prompted construction firms to downsize their staff and cut back on purchases in December.
For the Quarter Ending September 2023
North America
According to the ChemAnalyst report, the cost of Sodium 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 Sodium 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 Sodium Silicate market.
Asia
According to ChemAnalyst, the price of Sodium 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 Sodium 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 Sodium Silicate in the Chinese market. This surplus supply has contributed to the observed negative price movement in the Sodium Silicate market. The same pricing trend was observed in other Asian countries like Vietnam and Indonesia, which were imported from the Chinese market at affordable prices throughout the third Quarter of 2023.
Europe
During the third Quarter of 2023, Sodium Silicate prices in the European market displayed a mixed trend. Deteriorating demand conditions in France led to a reduction in input purchases by manufacturers in July and August. 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. 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.
For the Quarter Ending June 2023
North America
The price trend of Sodium Silicate remained declining trend in the US market during the second quarter of 2023 due to the low trading activities among the enterprises. The low demand was mainly driven by poor performance in the downstream construction industry. High-interest rates, wage cost increases, general inflation, and a major bank crisis in the country impacted the construction market. The merchants continued to work through their existing stocks in the domestic market. Even though output grew in mid of the second quarter, the rate of growth dropped to a hardly noticeable degree. A larger workforce and quick input deliveries were commonly linked to production expansion, which allowed enterprises to catch up on delays in work. The supplier's delivery times improved further and to the greatest extent on record in the US market. Further, the manufacturing managers index remained below threshold points throughout the second quarter, indicating the decline of economic activities in the USA. The cost of Sodium Silicate hovered around USD 1354/MT on a FOB Texas at the end of the Q2 of 2023.
APAC
At the beginning of the second quarter, there was less demand for Sodium Silicate in the construction industry and products, which helped relieve pressure on construction supply chains. The drop in prices was supported by stable exporter inventories combined with less expensive cargo being imported for the Korean market. The poor performance has continued in the construction industry has contributed to the low price of Sodium silicate in the Korean market. The steep fall in Chinese imports that were made for the Korean domestic market in May supported the downward pricing trend. The product's supply was sufficient to meet the market's demands in spite of the fact that demand for it did not increase. On the other hand, Vietnam also followed the same price pattern due to the cheap imported cargo from the overseas market. The Vietnamese economy continued to be affected by unfavorable factors of the world economy in the second quarter of 2023 and the first six months of the year. The factors include the prolonged conflict in Ukraine and a tight monetary policy introduced by major economies that are Vietnam's key trading partners.
Europe
In the second quarter of 2023, the Sodium silicate saw a bearish pattern in the French market due to the poor performance from the downstream construction industry. Due to lower intakes of new work, French constructors reduced purchasing activity during May. The decrease was solid overall and followed by April marginal expansions. French construction companies, as protracted deteriorations in demand continued to ripple across the sector. June saw further reductions in new order inflows and business activity, which in turn led to job shedding as firms adjusted their workforces to match reduced workloads. Concurrently, input purchasing decreased at the fastest pace since the start of 2021. Signs of improving supply chain conditions alleviated some pressure off input prices in the second quarter of 2023 as the overall inflation rate eased in the country. French construction firms were pessimistic about the outlook for the next 12 months. The cost of Sodium Silicate hovered around USD 358/MT on an FD La Pallice at the end of the Q2 of 2023.
For the Quarter Ending March 2023
North America
In the North American market, the price of Sodium Silicate observed declined trend throughout the first quarter of 2023 due to the poor demand from the downstream, paper cement, construction & coating industries. The ample availability in the country, coupled with slow demand from the downstream sectors, curbed the cost of the product. High-interest rates and inflation were the main factors that subdued the demand for the construction industry. Further, the freight charges from overseas markets remained decline trend supporting the Sodium Silicate market in the US. The data shows the consistent falling of Sodium Silicate price hovered around USD 471/MT on a CFR New York.
APAC
The Sodium Silicate market witnessed a consistently inclined pattern in Asia as the traders in Japan, Indonesia, and Vietnam experienced a limited amount of product availability in their markets. After the Lunar Holidays, they also encountered expensive imported cargo from China. The product's worth rose on the global market, nevertheless, as the supply was constrained. The nations that received new orders from the construction industries as well as other important driving sectors, propelled the market for sodium silicate in a positive direction. The cost of Sodium Silicate hovered around USD 478/MT on a CFR Tanjung Priok basis at the end of the quarter.
Europe
The first quarter of 2023 saw a declining trend in the price of sodium 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 related commodities has increased, and the trade activities of sodium 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 Sodium Silicate hovered around USD 389/MT on an FD Pallice (France) basis at the end of the quarter.
For the Quarter Ending December 2022
North America
Sodium Silicate prices saw a downtrend throughout the fourth quarter of 2022 under the influence of low Demand from the domestic and international markets amidst product abundance in the country. As per the data, a decline of around 3.5% in the price of Sodium Silicate has been observed during this quarter in the American market, which was assessed at around USD 520/MT during November on the CFR basis. Market sources revealed that traders were getting cheaper cargoes due to pessimism hovering around the globe related to the recession, especially in USA and Europe. Furthermore, Demand remained lackluster amidst festive holidays, and traders had already procured enough cargo for December.
Asia
Asian market witnessed a declined price movement for several commodities, including Sodium Silicate, during Q4 2022. As per the data, Sodium Silicate prices fell effectively and hovered around USD 359/MT during November on a FOB basis. Ample product availability in the country has affected the pricing dynamics of several commodities, including Sodium Silicate, in the Chinese market during this quarter. Furthermore, traders had adequate supplies for the product to satisfy all the needs of the country as well as of the overseas market. Demand for the product remained moderate, and a marginal improvement in Demand was observed in November in comparison to the previous months. However, ample availability did not let the price of the product show any positive price variation in the country.
Europe
The Sodium Silicate prices declined in the European market during this quarter as the price of feedstock soda ash decreased by around 8.3% in Q4 2022. Due to Lower heating needs and healthy gas reserves in Europe, the Power Purchase Agreement (PPA) market fell by 15% in December 2022. No shortage related to energy was observed during this timeframe. Therefore, prices of several commodities, including Sodium Silicate, declined effectively and remained low throughout the quarter. Additionally, the construction sector showcased a significant fall in activities due to several reasons like recessionary fear and low purchase orders, and the winter season brought up the seasonal lull.
For the Quarter Ending September 2022
North America
Sodium Silicate prices in North America kept on fluctuating throughout the third quarter of 2022. As per the data, the price of Sodium Silicate tumbled initially during July and August due to ample product availability in the country coupled with slow demand from the domestic downstream sector. As per the market sources, demand for the product from the downstream pottery and ceramic industry remained low, which opportune traders to cool down their prices, as it was rising during the previous quarter. The data shows, post witnessing consistent falls for months, Sodium Silicate price hovered around USD 522/MT during August 2022.
Asia
The sodium Silicate price trend showcased a consistent decline during the first two months of the quarter, where traders in Japan and Vietnam did not remain untouched by the declining market movement of Sodium Silicate in the Asian market. The Sodium Silicate prices heard hovering around USD 463/MT in Japan on a CFR basis during August 2022. A similar price fall has also been marked for these countries, while Japan perceived the steepest fall among other major Asian countries during the first week of July 2022. Similar to other major Asian economies, China also witnessed a gloomy market sentiment, where the prices tumbled by around 2% during the first week of July, post witnessing a significant hike during the previous month.
Europe
Under the influence of global demand dullness, commodities prices started tracing a downtrend in the European market, assessed during the third quarter of 2022. However, prices rose effectively during the previous quarter, owing to high input costs and an unprecedented rise in inflationary pressure on consumers. The demand dynamics remained dull in the meantime, projecting a decline in prices for the whole quarter. Additionally, pricing dynamics changed during the final month of the quarter, where sudden price escalation was observed. Sodium Silicate price hovered around USD 366/MT during September in Germany on FOB basis.
For the Quarter Ending June 2022
North America
Sodium Silicate prices in the US market traced an upward trajectory like in other regions. As per the assessment, the Sodium Silicate price remained buoyant during Q2 2022, owing to extreme inflationary pressure on producers. The analysis shows that the producer price index in the USA remained inflated throughout the quarter, supporting an upward price trajectory for several commodities, including Sodium Silicate. US government heard harsh decisions to curb inflation, increasing the risk of stagflation. Thus, despite modest to stable demand from the domestic market, the Sodium Silicate price hovered around USD 390/MT during May 2022.
Asia
During Q2 2022, the Asian Sodium Silicate market remained firm on the back of high demand amidst consistently escalating inflationary pressure on producers. Although China heard battling with a sudden escalation in new pandemic cases, which compelled the government to impose stringent lockdown restrictions on the country, the product price inflated. On the other side, the Indian market remained stable throughout this timeframe, as no pandemic-related uncertainties were found in the country. Therefore, demand fundamentals for the product remained stable across India's domestic market, which supported the upward price trajectory, which eventually settled around USD 418/MT in May 2022 in India.
Europe
In the middle of soaring raw material costs, Germany witnessed the highest inflation rate in May 2022, owing to a consistent rise in energy value. ChemAnalyst data shows that Sodium Silicate's price kept tracing an uptrend during Q2 2022 due to high inflationary pressure amidst stable offtakes from the downstream industries. The data shows that the price of feedstock Silica, which usually remains stable, rose effectively during this quarter and affected the pricing dynamics of downstream silicates in the European and international markets. The data shows Germany's USD 340/MT price during May 2022.
