During the initial two months of the first quarter of 2023, there was an increase in the Metakaolin Prices. The primary reason for this price increase was the strong demand for the product from countries overseas, including France, Germany, and the UK. Meanwhile, the demand from the downstream construction industry remained stable during this period. However, in the third month of the quarter, the prices of Metakaolin experienced a decrease in the US market. This decline was attributed to the abundant availability of the product in the international market and the lower demand from the downstream construction industry. The construction industry in the region had a moderate performance during the first quarter of 2023 and was primarily affected by labor shortages and crises in US banks.
During the first quarter of 2023, the Asian Metakaolin market experienced mixed sentiment. In India, the price of the product saw a decline of approximately 9%, 6.5%, and 1.5% in January, February, and March 2023, respectively. This decrease in prices was primarily driven by the ample availability of the product coupled with lower demand in the Indian market. In contrast, China witnessed an increase in the price of Metakaolin during this period. The price rose by around 6% in January and 3% in March, while it remained stable in February. The demand for Metakaolin from overseas markets, particularly Southeast Asian countries, experienced growth as China, being a significant player in the global Metakaolin market, supplied Metakaolin to various countries, contributing to the increased demand from overseas. Overall, the Metakaolin market in Asia displayed varying trends during the first quarter of 2023, with India observing a decline in prices due to low domestic demand, while China experienced price increases and higher demand from international markets.
During Q1 of 2023, the construction sector in Europe witnessed a surge in demand for Metakaolin, despite the region maintaining a steady supply. This situation resulted in a price hike for Metakaolin in the European market throughout Q1. In Germany specifically, the price of Metakaolin experienced an increase of around 15%, with January and February of 2023 seeing a respective rise of 3%. This price escalation can be attributed to the growing demand for Metakaolin in the construction industry as construction activities gained momentum in Europe following the winter season. However, in March 2023, the price of Metakaolin decreased as the price of the product declined in the international market.
ChemAnalyst addresses the key problematic areas and risks associated with chemical and petrochemical business globally and enables the decision-maker to make smart choices. It identifies and analyses factors such as geopolitical risks, environmental risks, raw material availability, supply chain functionality, disruption in technology and so on. It targets market volatility and ensures clients navigate through challenges and pitfalls in an efficient and agile manner. Timeliness and accuracy of data has been the core competency of ChemAnalyst, benefitting domestic as well as global industry in tuning in to the real-time data points to execute multi-billion-dollar projects globally.