Upward cost pressure catapults Global Monoethanolamine prices
- 13-May-2022 9:00 PM
- Journalist: Francis Stokes
Hamburg, Germany-The Global Ethanolamine market has been under pressure since the war situation between Russia and Ukraine escalated. As per the recent analysis done by ChemAnalyst, Monoethanolamine prices has risen across the global market owing to stable demand fundamentals amidst rising input cost. Manufacturers and Traders revealed that, under the influence of high raw material costs, they were pressured to revise their offers on spot purchases, while new contracts are also getting expensive.
German players have been going through a massive burden of inflation and fuming input costs. Being one of the major players of Monoethanolamine, market hiccups in Germany changed the overall market sentiments of Europe. As per the recent insights, the Russo-Ukrainian war has worsened the situation across the European market, where natural gas costs shot up the price of almost all derivative chemicals, including feedstock Ammonia.
Feedstock Ammonia price intensified, taking pressure from fuming input costs amidst high demand from the fertilizer sector. As per the ChemAnalyst data, the Monoethanolamine price showcased a hike of around 4% during April in Germany.
On the other side, prolonged market disruption has been a matter of concern for the US market for a long time, where consistent inflationary pressure has been pressuring key players to keep on revising their offers to sustain margins. Recently, USA natural gas cost has reached a record high value of around USD 8/million Btu, making domestic players anxious about future trade activities and costing process. In addition, ChemAnalyst data shows an increment of around 1.2% during April 2022 in the domestic market.
Middle eastern producers have witnessed different market sentiments than other regions; demand remained the major driving factor for the rise in the Monoethanolamine market in Saudi Arabia. However, inflationary pressure is an important concern for consumers, while Monoethanolamine pricing dynamics fluctuate with the frequent change in demand patterns. ChemAnalyst data shows a rise of around 1% in Saudi Arabia.
As per the latest assessment, ChemAnalyst has forecasted a consistent rise in the price of Ethanolamine in the global market, owing to the abovementioned fundamentals.