In the Asia-Pacific region, Silicon dioxide prices surged in the first quarter of 2023, driven by consistent demand, particularly from the pharmaceutical sector, and external factors like the spring festival and geopolitical tensions. However, the second quarter witnessed a sharp reversal as economic indicators indicated reduced purchasing activities, coupled with a contraction in manufacturing industries, leading to a downturn in Silicon dioxide prices.
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In Europe, the first quarter saw a significant price increase due to high input costs and rising inflation, while the second quarter experienced a decline, marked by reduced consumer sector demand and a central bank interest rate hike to support the economy. The influx of cheap imports and rising inventories also contributed to the negative price trend.
In North America, the first quarter witnessed rising Silicon dioxide prices driven by higher raw material costs and strong domestic demand, but the second quarter brought a decline influenced by a downturn in both domestic and international supply and demand, exacerbated by global economic challenges impacting energy costs and oil prices, further contributing to the declining price trend.
Silicon dioxide, often referred to as silica, is a naturally occurring chemical compound composed of silicon and oxygen atoms (SiO2). It exists in various forms, including quartz, sand, and glass. Silicon dioxide is renowned for its remarkable properties, such as high melting and boiling points, making it suitable for high-temperature applications. It is insoluble in water and most organic solvents, contributing to its stability. Silicon dioxide is a vital component in the manufacturing of glass, ceramics, and electronics due to its transparency and electrical insulating properties. It also serves as a desiccant, absorbing moisture, and is widely used in industries ranging from construction to semiconductors, thanks to its abundance and versatile characteristics.
Key Details About the Silicon dioxide Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Silicon dioxide in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Silicon dioxide Price Trends, including India Silicon dioxide price, USA Silicon dioxide price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Silicon dioxide Price Trend:
Silicon dioxide, commonly known as silica, is a versatile compound with numerous industrial applications. Its high melting point and heat resistance make it an essential component in the manufacturing of refractory materials used in furnaces and kilns. Silicon dioxide’s excellent electrical insulating properties are vital in the electronics industry, where it is used as an insulator in semiconductors and integrated circuits. As a key ingredient in the production of glass, silica provides transparency and strength to various glass products, from windows to optical lenses. In construction, it is used as a reinforcing agent in concrete and as a key component in the production of silicon wafers for the semiconductor industry. Additionally, silica’s desiccant properties are harnessed to absorb moisture in a wide range of applications, from food packaging to pharmaceuticals, ensuring product integrity and longevity.
- Evonik Industries AG
- PPG Industries Inc
- Cabot Corporation
- American Elements
- Wacker Chemie AG
- Tokuyama Corporation
- Tosoh Corporation
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