Potassium Carbonate Price Trend and Forecast

Potassium Carbonate Regional Price Overview

Get the latest insights on price movement and trend analysis of Potassium Carbonate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Potassium Carbonate Price Trend for the Q3 of 2024

Asia

The price trajectory of potassium carbonate closely mirrored that of the upstream caustic potash market. Prices remained stable throughout the quarter, with minimal fluctuations. This stability typically occurs when supply and demand are in balance, which was the case during this period. The primary demand for potassium carbonate comes from the fertilizer sector. However, as this quarter coincided with the harvesting season for many crops, demand saw a slight decline.
 

Potassium Carbonate Price Chart

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Additionally, the Indian government announced a substantial fertilizer subsidy, including for potassium fertilizers, ahead of the Rabi season. This initiative aims to ensure the availability of crop fertilizers at affordable prices for farmers and is expected to help stabilize fertilizer prices further in the Indian market.

Europe

The prices of potassium carbonate fluctuated but remained rangebound during the third quarter of 2024. Upstream caustic potash prices remained steady with minimal fluctuations, offering limited cost support for potassium carbonate. Demand from the downstream fertilizer sector was moderate, and similar trends were observed in other sectors. Production plants operated at optimal capacity, and inventory levels did not place significant pressure on prices. Overall, potassium carbonate prices fluctuated within a confined range in the European region.

North America

In the third quarter of 2024, potassium carbonate prices showed mixed trends. The price movement of upstream caustic soda remained relatively stable, providing minimal cost support for potassium carbonate. Price fluctuations were primarily driven by changes in downstream demand and supply disruptions. Several hurricanes affected the region, posing risks to cultivated crops and causing notable supply chain interruptions. While some production facilities were temporarily shut down, the impact was mostly localized. Overall, the market demonstrated a stable trend, shaped by limited cost support, logistical challenges, and average demand from downstream sectors during the third quarter of 2024.

Analyst Insight

According to Procurement Resource, potassium carbonate prices are expected to fluctuate but within limited range in the near future, mirroring the prices of feedstocks. The downstream demand, mainly from the fertilizer sectors, will show regional variations as planting seasons differ regionally.
 

Potassium Carbonate Price Trend for the Q2 of 2024

Asia

The fertilizer sector in Asia reported significant growth during the second quarter of 2024, primarily on the back of stocking activities by consumers ahead of the agriculture season. However, this was not translated into the pricing patterns of potassium carbonate during the same period.

The traders anticipate that this could be a result of the transfer of carried-over inventories into the market and destocking practices adopted by the major corporations. Further, the lack of support from the feedstock potassium sector as well contributed to keeping the momentum of the potassium carbonate market and its prices on the lower end of the pricing spectrum.

Europe

In Europe, potassium carbonate prices observed a significant decline during the second quarter of 2024. The primary cause was the fluctuating demand for potassium, particularly from the fertilizer market, which saw a notable drop in sales across the region. Adverse weather conditions, such as windstorms, floods, and excessive rainfall, disrupted agricultural activities, reducing the need for fertilizers. These conditions led to waterlogging and increased pest pressures, deterring farmers from investing in fertilizers.

Although exceptional crop growth was noted in several regions where demand for potassium carbonate could be moderate, the overall demand remained suppressed. Additionally, the market had sufficient stocks of potassium carbonate, and smooth supply chains ensured stable availability. The operational production capacities of major players like BASF and International Process Plants, capable of producing substantial quantities of potassium carbonate annually, further contributed to this bleak scenario of the market.

North America

In North America, the potassium carbonate market also saw a notable decline in the second quarter of 2024. Despite a slight increase in the cost of essential feedstock potassium chloride, its impact on potassium carbonate pricing patterns was minimal. The primary driver of the price decline was subdued purchasing activity from the fertilizer market.

The ongoing planting season for major crops such as rice, barley, and corn typically boost fertilizer demand, but extreme heat waves across the region disrupted planting activities. This unexpected climatic challenge led to a softer market for potassium carbonate. Additionally, the availability of ample stocks of potassium carbonate in the market, combined with reduced production costs and low purchasing activity, created an unfavorable environment for the potassium carbonate market.

Analyst Insight

According to Procurement Resource, the price of Potassium Carbonate is estimated to improve in the forthcoming quarters as with the shifting of agriculture season, the seasonal demand of the commodity is likely to be shifted in the next quarters.
 

Potassium Carbonate Price Trend for the Q1 of 2024

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Asia

The potassium carbonate market exhibited stability in the end phase of the first quarter after experiencing slight fluctuations in previous months. The initial declines in the price of potassium chloride were influenced by the weak cost support and minimal changes in the potassium carbonate market. These fluctuations in the prices of domestic potassium chloride manufacturers were also a consequence of the onset of the Chinese New Year holidays and spring festivities.

Overall, the domestic potassium fertilizer market also faced the pressure of swindling production and delays in the spring sowing season, leading to slower shipments and a weak trend in the potassium benzoate market. The market also faced the dire aftereffects of the loss of European and U.S. exports due to the disruption of the Red Sea route and the extension of shipment travel times.

Europe

During the first quarter of 2024, the German potassium carbonate market experienced a notable price increase, driven by heightened demand for potassium chloride globally. During the first month, the pace of the market was slow as the decline in overseas purchases, and even the domestic downstream industries also presented dim momentum of the potassium carbonate market. The downstream industries, however, paced forward at an escalating pace, supporting the uptrend in the prices of potassium carbonate.

Additionally, the constrained in the supply chains due to loss of production volumes due to rising cost of manufacturing. Further, the agriculture industries also presented favorable market sentiments with the advent of the spring sowing season, contributing to the uptrend in the pricing patterns of potassium carbonate.

North America

In the first quarter of 2024, the U.S. potassium carbonate market experienced bullish sentiment due to constrained product supply linked to the Red Sea crisis. Initially driven by heightened demand within North American fertilizer markets was carried forward by improved weather conditions.

North America also saw increased demand during the planting season for crops like corn, cotton, and sorghum, aided by relief from prolonged drought conditions further supported the prices of potassium carbonate. However, production setbacks due to freezing temperatures and snowstorms led to the closure of major plants such as U.S. Nitrogen LLC and the BASF, depleted the inventories intensively.

Additionally, the shortage of raw materials due to the loss of Chinese imports further raised the concerns of producers and traders. The trade uncertainties intensified with rebel attacks in the Red Sea, prompting vessel reroutes and increased transportation costs globally.

Analyst Insight

According to Procurement Resource, the price trend of Potassium Carbonate is expected to incline in the near quarters as the onset of agriculture sowing season and limited availability of raw materials globally are expected to support the uptrend of potassium carbonate prices.
 

Potassium Carbonate Price Trend for the October - December of 2023

Asia

The Asian Potassium Carbonate industry experienced mild oscillations during the fourth quarter of the year 2023. The price graph for Potassium Carbonate readily mimicked the variations in the feedstock potassium hydroxide or caustic potash prices; the fluctuations were confined within closed limits for Potassium Carbonate prices.

Regular market demands from the downstream mechanical, fire retardant, glass, soap, etc. industries pushed the market trend in a positive direction; however, the high stockpiles pulled the trend down. The intricate interplay between the above opposing dynamics caused the concerned Potassium Carbonate to vary during the said period of Q4’23.

Europe

The European Potassium Carbonate market trend were no different from the Asian markets. The market demands were largely underwhelming, and the supply constraints due to the freight disturbances also could not support the offshore Potassium Carbonate trade. Overall, swift variations in the Potassium Carbonate market trend were observed in the European markets during the given quarter of the year 2023.

North America

Some borderline stagnancy was observed in the North American Potassium Carbonate market as the supply and demand dynamics exuded some levels of stability during the said period. Though there were some issues in the latter half of the quarter because of various geopolitical stresses, the Potassium Carbonate market strongly followed its feedstock caustic potash market throughout the given time.

Analyst Insight

According to Procurement Resource, Potassium Carbonate price trend are likely to remain fluctuating in a similar manner going forward. The prices are likely to vary within limited ranges in the coming months as well.
 

Potassium Carbonate Price Trend for the July - September of 2023

Asia

The Asian potassium carbonate market experienced wavering price trend during the third quarter of the year 2023. Since the Chinese industries started opening up at a slow pace after the COVID-19 restrictions were removed, the previous quarters have been slow for potassium carbonate. However, the market started picking up pace in the discussed span.

The steady rise was evident in the consistent incline of downstream demands during the said period. A hike in the feedstock potassium hydroxide and carbon dioxide prices, too supported the positive elevations in the potassium carbonate price graph. However, the second half of the quarter saw the price trend backtracking slightly since the overflowing inventory stocks started dominating the price patterns. So, with slight increments in the first half and decrements in the second half, the potassium carbonate price trend fluctuated within a narrow range during the given period of the third quarter of the year 2023.

Europe

The potassium carbonate prices in Europe fluctuated in a similar manner as they did in the Asian market in Q3’23. The first month of the quarter had a good start at the price graph; however, the following months slowed down. These price patterns were mostly influenced by the demand spectrum from downstream welding and glass industries. Overall, mixed market sentiments were observed.

North America

The American potassium carbonate market experienced a continuous decline during the said period. The downstream industries were in a slump primarily because of the heightened interest rates in the region. The general market outlook was observed to be regressive during the said period.

Analyst Insight

According to Procurement Resource, the Potassium Carbonate price trend are likely to remain fluctuating in the coming months given the uncertainties in the market dynamics.
 

Potassium Carbonate Price Trend for the First Half of 2023

Asia

In the Asian region, the Chinese market was still recovering from the lockdown after-effects, so the market was slow and posed very limited queries for Potassium Carbonate. The Chinese market didn’t get much growth; on the other hand, the Indian market had a fairly stable start.

Even with limited offtakes, the supplies were uninterrupted, so the inventories kept getting burdened with excess supplies. In order to promote inventory movement, the suppliers discounted the prices, which resulted in further depletion of the market trend. So, with varied price patterns, the Potassium Carbonate performed poorly in China and had a mo0derate run in India.

Europe

The European Potassium Carbonate market exhibited bearish sentiments throughout the discussed period. An overall economic slowdown in the region because of the war between Russia and Ukraine affected the overall industrial output. The high inflation and costs of living substantially reduced the market purchases, ultimately reducing the product demands. With limited purchases and high supplies, the prices had to be reduced to facilitate trade. Overall, Potassium Carbonate had a dull performance in Europe in H1’23.

North America

Just like Europe, the American economy was also struggling with rising inflation and living costs. With the collapse of two major US banks, the interest rates had also skyrocketed; such economic conditions limit the end-user customer base. Hence, the Potassium Carbonate market exhibited feeble sentiments in the American market as it was primarily driven by dull downstream demands.

Analyst Insight

According to Procurement Resource, the price trend for Potassium Carbonate are likely to fluctuate in the upcoming quarter, given the current market dynamics amid economic turmoil.

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