For the Quarter Ending September 2023



North America:

In the third quarter of 2023, the Tetrapotassium Pyrophosphate (TKPP) market in the USA remained stable. Key sectors like electrical and automotive industries showed little growth, preventing major market fluctuations. Prices stayed constant as cautious buyers and local manufacturers adhered to established price ranges. Market dynamics were influenced by factors such as inventory levels, overall supply, and macroeconomic elements like interest rates. Although the automotive sector, heavily reliant on TKPP for electric vehicle production, had steady demand, it was constrained by considerations related to interest rates. July saw a notable price increase due to rising demand, reduced inventory, and a weaker US dollar, fueled by the renewable energy and automotive industries. However, by the end of July, prices declined as demand waned and local inventory levels increased. August witnessed a price decrease due to the strengthening US dollar, global inflation pressures, challenges in China's construction sector, and factors like the Inflation Reduction Act. Despite the expected stability in the near term, certain downstream industries engaged in stockpiling to secure a stable supply.

APAC:

In the third quarter of 2023, Asia's Tetrapotassium Pyrophosphate (TKPP) market faced challenges with a bearish price trend. In China, TKPP prices decreased by approximately 5%, influenced by high product inventory levels, low overseas demand, and increased raw material inventories. Japan experienced a decline in raw material prices from the US, attributed to increased production from countries like Australia and Indonesia. Declining coal and electricity costs in Japan added to market pessimism. Stagnant downstream consumption of TKPP resulted in an oversupply. Competition from the electric vehicle industry and the US Federal Reserve's interest rate hike influenced a cautious approach from buyers. While there was potential for growth in the Japanese TKPP market, global economic conditions remained weak, impacting global import demand. The price of TKPP in the Chinese spot market continued to decline due to reduced demand in the automotive industry, reflecting the complex interplay of global economic conditions, supply-demand dynamics, and industry competition.

Get Real Time Prices of Tetrapotassium Pyrophosphate (TKPP): https://www.chemanalyst.com/Pricing-data/tetrapotassium-pyrophosphate-tkpp-1543

Europe:

In the third quarter of 2023, the German TKPP market remained stable with consistent inventory levels and sluggish demand from key sectors like electrical and automotive industries. Despite steady electric vehicle sales, the automotive sector experienced a dip in demand. The renewable energy sector showed signs of life, leading to a minor upturn in manufacturing and infrastructure projects, impacting prices marginally. Cautious buyers, concerned about rising interest rates, approached the market carefully. Feedstock supply remained moderate, with local mills operating consistently, and demand from the electrical sector played a crucial role in maintaining price stability. However, the lack of significant growth in demand from the automotive and construction sectors constrained price dynamics. Globally, factors like interest rate hikes, weak demand, and fierce competition in the automotive industry influenced the market. Government policies, such as Germany's stimulus package, designed to support construction and housing sectors affected by high interest rates and increased costs, had a notable impact on market dynamics. In summary, the German TKPP market displayed stability in the third quarter of 2023, with domestic and global factors shaping price trends and market conditions.


About Us:

ChemAnalyst is an online platform offering a comprehensive range of market analysis and pricing services, as well as up-to-date news and deals from the chemical and petrochemical industry, globally.

Being awarded ‘The Product Innovator of the Year, 2023’, ChemAnalyst is an indispensable tool for navigating the risks of today's ever-changing chemicals market.

The platform helps companies strategize and formulate their chemical procurement by tracking real time prices of more than 400 chemicals in more than 25 countries.

ChemAnalyst also provides market analysis for more than 1000 chemical commodities covering multifaceted parameters including Production, Demand, Supply, Plant Operating Rate, Imports, Exports, and much more. The users will not only be able to analyse historical data but will also get to inspect detailed forecasts for upto 10 years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.