Amid Market Volatility, Triethanolamine Prices Strengthen in Europe for September 2022
- 16-Sep-2022 4:40 PM
- Journalist: Bob Duffler
Rising energy prices have been an issue for the European market since the Russia-Ukraine war started. Several agrochemicals and petrochemical commodities have been affected by these price fundamentals, where the prices of these commodities showcased either upward or downward price trajectories irrespective of their demand in the market. A similar scenario has been observed for Triethanolamine in the European market, where prices have risen during the first half of September 2022.
Despite demand dullness, Germany's Triethanolamine prices have risen during the first half of September. As per the insights, demand for Triethanolamine has been low from the downstream construction and additive sector for the past couple of months, while arriving winter season has started threatening the European market. High natural gas values affect Triethanolamine in two ways, as an upstream chemical and the energy used for production. Thus, as per the data, Triethanolamine price has risen by around 2% during the H1 of September 2022, which was tumbling previously.
Similarly, other European nations have also witnessed a similar market sentiment this month. The data shows a hike of around 1.8% and 2.6% in Belgium and France, respectively in the meantime, bolstered by rising input costs amidst moderate demand from the domestic downstream sectors.
Many industrial experts have alleged that Russia has been weaponizing natural gas against North-West Europe by halting supplies through NS-1. However, the efforts of European nations to protect themselves from a critical shortage of Natural gas might work for the coming winter season, as they have been importing cargoes in bulk to ensure adequate availability in the region.
As per the ChemAnalyst analysis, demand for Triethanolamine might not rebound in the coming months, as the domestic construction sector would take time to recover from current market disturbances. However, demand from the cosmetics sector is anticipated to remain stable in the coming month.