Global Triethanolamine Prices Are Rising, Regardless Of Feedstock Dip
- 01-Jul-2022 6:07 PM
- Journalist: Yage Kwon
High production has threatened the global chemical market due to consistent inflationary pressure on producers and consumers. As per the latest insights, Triethanolamine is also listed among them, whose price has risen again during June 2022 across the global market.
As per the data, Triethanolamine prices have risen marginally across the global market, while Belgium witnessed the highest price revision of around 2% this month. Other major European economies, including France and Germany, have also showcased a significant price increment of about 1.5% and 1%.
The prime factors behind these price revisions were consistently high inflationary pressure on producers and consumers, as the PMI (Purchase Manager Index) has risen accordingly with the market disturbances across the European market. The Russo-Ukrainian war has been the center of market hindrances since the start of this year, which has shot up the price of several commodities, either due to scarcity or high input costs. Further, despite the looming threat of another energy crisis like the previous year, European players kept betting on product availability amidst anticipated stable offtakes from the domestic market.
On the other hand, USA and China also showcased similar market sentiments, where prices remained buoyant despite easing raw material costs. Manufacturers in China and USA have been facing the pressure of high input costs and inflation, compelling them to keep their product prices at a higher value to protect their profitability. ChemAnalyst data shows a marginal price increment of around 1% for Triethanolamine in both countries, primarily driven by high input costs regardless of their domestic demand.
As per the ChemAnalyst analysis, Triethanolamine prices are expected to sustain this uptrend for the European market during the coming months. Improving Chinese economic activities is also likely to support this uptrend, while the USA might receive marginal stability or decline by the end of July 2022.
