Saudi Arabia Triethanolamine Demand Sees New Light in Europe, and Prices Continue to Rage On
- 08-Jul-2022 1:58 PM
- Journalist: Peter Schmidt
Triethanolamine price has showcased a steep rise during the past couple of months, owing to high demand from the international market. As per the market sources, recent price escalation and worsening situation in Europe led to a demand shift to Saudi Arabia for the product.
According to ChemAnalyst data, the Triethanolamine price has risen by more than 7% during June 2022, owing to a steep rise in global demand. A trusted market source revealed to ChemAnalyst that they have limited availability for Triethanolamine as the burden of global product availability has been shifted to Saudi Arabian producers. Furthermore, rising inflationary pressure has also been a prime concern for global key players.
Worsened war in Europe has disrupted global supply chain activities, leading to a steep decline in product availability worldwide. Consequently, several demand shifts have been observed to run the worldwide trade activities smoothly. When the Russia-Ukraine war started, Germany must look for an alternate route of Natural gas imports: the USA. Similarly, under the influence of global trade disruption, several countries shifted their dependencies to other stable markets.
However, raw material Ammonia costs have declined in the meantime in the domestic market of Saudi Arabia, but it didn’t affect the market dynamics of Triethanolamine in the country. On the other side, demand fundamentals for the product remained modest to stable in the domestic market of Saudi Arabia, and international inquiries remained a major driving factor for this steep price escalation.
According to the ChemAnalyst analysis, Triethanolamine prices will likely remain firm until the end of July 2022, as the current position of the international market will not change soon.