Triethanolamine market shows bullish trend entering May 2022

HOUSTON (ChemAnalyst)-The global construction sector has been battling with a steep rise in raw material cost, owing to a consistent hike in upstream value amidst inflationary pressure that has been pressuring global market dynamics. As per the ChemAnalyst data, the Triethanolamine price has risen in India, the US, and Saudi Arabia during the month of April 2022.

As per the data, a rise of around 2% has been observed in the Asian market, especially in India during April 2022, under the influence of high raw material costs coupled with inflationary pressure induced by an acute rise in upstream crude value. As per the recent Insights, high crude oil value has been hampering global market dynamics, while some countries like India are trying to mitigate the situation by active economy-oriented decisions. The country’s construction sector has showcased a rebound during the past few months, as this sector usually pickups up the pace during summer in India.

Meanwhile, the US market has been facing consistent and steep price escalation in natural gas costs, impacting domestic production costs by pulling up inflationary pressure on converters and consumers of the country. As per the information, Natural gas prices have crossed USD 8/MMBtu, which is a multiyear high, rising under the pressure of high demand and the ongoing Russia Ukraine crisis. In addition, demand fundamentals for the product have been stable from the downstream concrete additive segment, while contractors have been trying to delay procurement in order to protect themselves from losses.

On the other hand, middle eastern countries are getting benefits from fuming crude oil value, while other major economies have been in trouble. Side-lining Russia as a punishment for invading Ukraine has benefited major oil giants like Saudi Arabia and the USA. Triethanolamine prices have showcased a hike of around 1%-1.5% on a FOB basis, bolstered by rising global pricing dynamics, while domestic players may negotiate on bulk purchases to destock old inventories.