For the Quarter Ending March 2023
North America
The Triethanolamine market in the USA has experienced several weeks of falling prices due to a decline in demand from both the domestic and international markets. This trend is primarily driven by the falling prices of feedstock, such as Ethylene Oxide and Ammonia, which are used to produce Triethanolamine. The oversupply of Triethanolamine, caused by stable supplies from domestic producers and cheaper imports from international markets, has further pressured prices in the US market. The bearish market situation has been exacerbated by the threat of an economic slowdown and issues with US banks, leading to a consistent decline in Triethanolamine prices.
Asia
The price of Triethanolamine (TEA) in the Chinese market fell in January 2023 due to lower demand, while the marginal ease in feedstock ammonia prices also affected pricing dynamics. The oversupply of TEA globally contributed to a bearish market. The market situation in February and March 2023 remained bearish, with ample supply and low demand, although the pace of falling prices slowed down. In March 2023, the unexpected rise in demand from the domestic downstream industry led to a bullish market, and Taiwanese manufacturer OUCC’s plant turnaround remained the major driving factor for price trends. The Indian market saw a bearish trend in January and February 2023 due to lower demand and cheaper imports, but prices rose in March due to an improvement in domestic demand.
Europe
Triethanolamine prices in the European market have experienced steep falls over the past three months, with a total decline of around 23%. The market situation has been bearish due to consistently low demand from the domestic downstream industry and falling feedstock prices. An oversupply situation and uncertain market fundamentals have also contributed to the pricing dynamics. Despite the reduced risk of an economic recession, demand has remained moderate to low. The market has experienced stable to firm supplies, with a relatively narrow demand-supply gap contributing to the current price trend. However, prices declined unexpectedly during the month due to an oversupply situation.
For the Quarter Ending December 2022
North America
Triethanolamine prices maintained an overall downtrend throughout the quarter in the American market. As per the market sources, demand for the product remained low under the influence of a pessimistic outlook in the market, as global uncertainties have been dragging the world into a recession. Furthermore, feedstock ammonia value has also seen a plunge of around 13% during this quarter, affecting all of its downstream derivative markets at the same time. Additionally, inflationary pressure is observed to be falling as a repercussion of multiple hikes in interest rates by the country's federal bank. As per the data, the Triethanolamine price hovered around USD 1877/MT on CFR basis after witnessing a plunge of more than 20% during the quarter.
Asia
A steep fall in the price of Triethanolamine was observed in the Chinese market during this quarter. Triethanolamine prices have been keeping their downtrend continue since the last month of the second quarter of 2022. The prices have fallen by around 33% as the country has seen a steep demand fall due to the rise in pandemic cases in the country and the implementation of China's aggressive zero covid restrictions. As per the data, Triethanolamine prices were assessed at around USD 1105/MT during November 2022. On the other side, the Indian market witnessed a hike in demand during festivities in the country, while the prices kept on falling throughout this timeframe due to cheaper imports from the international market.
Europe
Ample product availability in the region led to a consistent fall in the price of Triethanolamine in the market. As per the market sources, demand remained dull for the product from the downstream paints & coating and construction sector, while the cosmetic sector maintained overall firmness in the meantime. Furthermore, Europe was preparing for another energy crisis. Thus, the region managed to sustain an ample inventory level to prevent another steep price rise. Upstream Natural gas prices eased down throughout the quarter, providing calm to feedstock ammonia manufacturers. As per the data, Triethanolamine prices hovered around USD 2112/MT during December on FD Hamburg, Germany basis.
For the Quarter Ending September 2022
North America
Triethanolamine prices have declined during the third quarter of 2022 in the US market, owing to diminishing offtakes from the downstream buyers. Previously, the central bank of the country raised the loan interest rate in order to calm fuming inflation in the country, which was hovering at a 40-year high value. Consequently, the country's economic activities had to decline, and thus demand fundamentals slipped in the US market during the quarter. Additionally, feedstock Ammonia prices fell by around 5.7% during August 2022, supporting this price downtrend for Triethanolamine in the country. Triethanolamine prices heard hovering around USD 3176/MT on a FOB basis.
Asia
As per the price assessment, China's Triethanolamine price remained dull throughout Q3 2022, owing to low offtakes from the domestic market and cheaper imports from neighboring Asian countries, including Saudi Arabia, Malaysia, and Singapore. However, the conflict between China and Taiwan has started bothering domestic players, as the country imports a fair amount of Triethanolamine from Taiwan. Nevertheless, demand has not improved since the first week of July, which eventually led the prices to trace a downtrend. Additionally, the slow economic activities of the country also remained a major factor behind this fall in prices, which eventually settled around USD 1323/MT in September 2022.
Europe
Since input costs have increased throughout Europe, regional economic activity has slowed, which has had an impact on the fundamentals of demand for a number of commodities, including Triethanolamine in the region. According to the data, low domestic demand has helped the German market see a 1.5% decline over the past few months. According to the pricing trend, the price of Triethanolamine had been rising up to the last month of the previous quarter. It then had its first decline in July. Conclusively, Triethanolamine prices in July 2022 were estimated to be around USD 3257/MT.
For the Quarter Ending June 2022
North America
The US market has long been under intense inflationary pressure, and the government has responded by taking the required action to reduce inflation. Analysis reveals that the nation began moving toward stagflation conditions, which would be bad for the nation's economic growth. According to ChemAnalyst statistics, the price of triethanolamine increased by 0.5% in the middle of Q2 2022. Additionally, the US has begun to increase its natural gas shipments to Europe due to Russia's supply-side announcement. As a result, amid rising natural gas exports, the price of ammonia feedstock rose on the domestic market.
Asia
Due to shifting market dynamics, this quarter saw various ups and downs in the Asian market. Due to trade disruptions and expensive imported cargoes, triethanolamine prices in China showed a considerable increase of almost 2.3 percent in April. However, the product's core demand dynamics remained range-bounded because of the prolonged COVID crisis, where millions of people were subject to severe lockdown restrictions throughout the nation. Additionally, a sizable price increase was noted in the Indian market due to increased upstream chemical costs and steady offtakes from niche consumers. As a result, the pricing dynamics for triethanolamine in the Asian market remained positive throughout the quarter.
Europe
Throughout this quarter, triethanolamine prices continued to rise on the German market. Germany has been severely impacted by the rapid escalation in the Russia-Ukraine war because it relied on Russian natural gas imports. Triethanolamine's price continued to rise due to high natural gas prices, increased inflationary pressure due to high crude oil prices, and trade disruption. According to the data, triethanolamine prices increased by about 1.7% and 1% in Germany and France, respectively, in May. Russia recently declared that it would be reducing its natural gas supply to Europe, which has already destabilised the market mood and boosted the pricing dynamics of many commodities.
For the Quarter Ending March 2022
North America
Rising inflationary pressure-induced anxiousness among US-based manufacturers of Triethanolamine, as the prices of raw materials kept rising under the influence of fuming crude oil value. The geopolitical conflict between Russia and Ukraine turned into a war that stirred demand-supply dynamics with harsh diplomatic decisions taken by major economies, including the USA. As a consequent effect, upstream prices started tracing an uptrend across the global market, compelling manufacturers to revise their offers to sustain their margins. Meanwhile, construction activities in the country were also stable since the first week of January, which bolstered the overall pricing dynamics for the product in the country. Thus, post witnessing a consistent hike, triethanolamine price assessed around USD 2850/MT CFR basis during February.
Asia Pacific
Despite ongoing war between Russia and Ukraine and rising crude oil value, Triethanolamine prices declined marginally during January and February in India and China on the back of ample availability of the product amid modest to stable demand from the domestic market. As per market source, pricing dynamics for the product maintained overall stable throughout the month of February and a marginal fall in price trend was observed due to tough negotiations on bulk purchases. Meanwhile, in China, Triethanolamine prices kept on tracing downtrend throughout the quarter, owing to wavering demand fundamentals for the product from the domestic market coupled with rising pandemic related restrictions in China. China started facing pandemic since 2020, making it hard for domestic players to maintain offtakes from domestic as well as international buyers. Thus, under the influence of low demand amidst ample inventories, Triethanolamine price was assessed around USD 1490/MT in China during February.
Middle East
On the back of modest demand fundamentals for the product from downstream sectors, the Triethanolamine price declined consistently in January and February in Saudi Arabia. Furthermore, a decline in raw material cost also remained a major reason behind the shortfall, which allowed producers to revise their offers on spot purchases. In addition, apart from domestic purchases, demand fundamentals from India also remained dull during this timeframe. Therefore, post witnessing a decline, Triethanolamine price was assessed around USD 1270/MT FOB basis during January. Meanwhile, Monoethanolamine prices also traced a similar trajectory due to ample availability in the country. However, demand fundamentals for the product maintained overall stability on the back of firm offtakes from the domestic detergent and personal care segment. Thus, post witnessing a marginal decline, Monoethanolamine price hovered around USD 1440/MT FOB basis in January.
For the Quarter Ending December 2021
North America
Market remained bullish in last few months as prices of Triethanolamine increased on the back of increasing cost of raw materials and lack of significant inventories. Supply has improved since last quarter as feedstocks availability has risen after the lag in Q3. Demand from downstream sectors has been stabilized in comparison with previous quarters where market participants remarked that strengthening supply fundamentals have restored the balance of market dynamics. Furthermore, USA has been facing huge pressure of inflation due to rising crude oil value, which is not letting most of the commodity prices to ease down in the country. Conclusively, Triethanolamine price remained firm throughout the quarter in USA, which assessed around USD 3170/MT FOB during December.
Asia
Asian market showcased mixed sentiments for Triethanolamine during this quarter, which varied country over country. Downstream construction and surfactant sectors maintained stability throughout the quarter across most of the major economies of Asia. Later during December, significant hiccups was observed, as rising omicron threat was resisting traders from further procurements and prices started to see downtrend by the end of this quarter. Furthermore, in India, muted demand from the construction sector remained a major concern for producers, as construction activities remained dull during monsoon season. However, steep rise in freight cost and consistently rising raw material prices induced buoyancy to Triethanolamine price in India, which assessed around USD 1602/MT during December.
Europe
European market has been witnessing huge setbacks during this quarter due to several reasons. Unprecedented hike in energy cost remained a major event during fourth quarter in Europe. However, rebound in industrial activities was also remained a major reason behind any change in pricing dynamics across European market. Demand for Triethanolamine remained firm from the domestic downstream sector of UK and Germany, while high energy cost pushed producers to raise their prices on contract as well as spot purchases. Furthermore, high raw material cost coupled with significantly high freight charges also exacerbated the overall price trend for the product across European market.
For the Quarter Ending September 2021
North America
During the third quarter of 2021, the prices of Triethanolamine rose significantly across the North American region. A hike in the prices of upstream Ethylene Oxide due to volatility in Ethylene supported the prices for Triethanolamine which were already volatile since the 2nd quarter. Demand fundamentals remain strong for TEA in Q3 with robust consumption volumes from the detergent segment. Furthermore, the construction sector along with the household sector formed the key application areas for TEA across the region. As of the 1st week of August, the price of Triethanolamine was settled at USD 2415 per MT FOB Texas.
Asia Pacific
The pricing trend of Triethanolamine witnessed a steep rise in the 3rd quarter of 2021 across the Asia Pacific region. Demand for Triethanolamine remained muted from Northeast China in Q3 due to tightened environmental controls by the Chinese government and the lack of downstream demand due to lower operational capacities. In other Asian countries, demand was still strong on tightened supply especially for the grade used in the personal care sectors. In the Indian market, prices kept on rising during the month of July, taking support from firming demand from the domestic market under limited availability. Upstream Ethylene Oxide and Ammonia prices were heard rising in the country during Q3 due to high demand under crippled supply activities, which supported Triethanolamine price. Thus, the price of Triethanolamine was last assessed at USD 1652 per MT during August.
Middle East Africa
In Q3 of 2021, the demand for TEA was slightly lower as buyers side-lined amidst surges in container freight in Middle Eastern countries. On the raw material front, the market of ethylene was collectively lowered while ammonia settled on an upper hand. FOB Jebel Ali offers were assessed at USD 1231/MT, down by about USD 56/MT over the levels seen in August. Triethanolamine shipments (for non-medicinal use) from Saudi Arabia exceeded 150 MT to India since the beginning of September. It was noted that shipments were priced lower over the August settlements.
For the Quarter Ending June 2021
North America
Prices of the Triethanolamine remained bullish in the North American region throughout the second quarter, taking cues from firm upstream Ethylene Oxide and Ammonia. The restoration in the industrial activities improved the supplies of Triethanolamine (TEA) while the raw material tightness persisted even in Q2 leading to marginal constraints in the availability of Triethanolamine. Dow increased the prices of its amine products multiple times in the second quarter of 2021. The company increased TEA offers by USD 60 per tonne in Q2. Triethanolamine demand was persistent from the downstream derivatives and offtakes surged for the household and construction sector as the economy revived. The monthly average of Triethanolamine surged to USD 2200 per tonne FOB Texas in June.
Asia Pacific
During the second quarter of 2021, TEA supplies in the Asia Pacific region was balanced to firm to meet the end user enquiries as the downstream operational rates rose significantly to meet the industrial rebound. Furthermore, the market situation was supported by improved exports to the overseas market. Market sentiments were robust from the pharmaceutical companies as the industry ramped up manufacturing amidst rising COVID-19 cases across the globe. Supply constraints heard across Asia further gave operating leverage to several Middle Eastern manufacturers.
Europe
In the European region, Triethanolamine (TEA) supplies were tight after the leading producer BASF announced turnaround at its Amines facility which is likely to last till first half of the next quarter. Some production hindrances were seen from the major producers in Russia. Market easiness was observed as imports volumes improved from the US as the suppliers improved operational rates amidst restoration in production. Demand was resolutely high as the offtakes observed a seasonal hike from the construction and household sector. Plant outages in the Middle East and in Asia affected the import availability.
For the Quarter Ending March 2021
North America
The Triethanolamine market in the North American region was severely hampered as the unavailability and surging pricing of the feedstock hampered the domestic production of Triethanolamine as the plants were shut down amid the severe freeze weather conditions in the USA Gulf region. Firming Ethylene Oxide further added to the cost pressure. Demand surged as enquires from the personal care industry improved. Amid macroeconomic factors supporting the price uptrend, the price of Triethanolamine rose from USD 1750/MT in January to 1860/MT in FOB Texas in March.
Asia-Pacific (APAC)
Margins of almost all ethanolamine manufacturers increased by manifolds since the start of this quarter mainly due to surging demand from both the local and export markets. Strong gains in raw material EO pricing and some upstream plant turnarounds scheduled for maintenance have pushed up the price curve. Market sentiments were upbeat with rising enquiries from the pharmaceutical companies as the industry ramps up manufacturing amidst rising COVID-19 cases across the globe. Supply constraints were heard across Asia amid the bad weather conditions causing plant outages in US. Furthermore, logistic disruption along with hampered trade routes concerned compelled buyers to purchase cargoes even at high premium prices to abate the demand from the downstream sector. Due to the demand-supply gap widened Triethanolamine prices in India by USD 336/MT withing the quarter.
Europe
The European Triethanolamine market was severely impacted during the first quarter of 2021, as a couple of major suppliers to the region in Middle East were on a turnaround, followed by the reduced imports from the USA amid winter storms. Further tightness was uplifted due to low operating rates at one of the major production facilities in the region. Demand segment was balanced throughout the quarter as the resurgence of COVID made people more cautious about the regular hygiene which led to the strong offtakes from detergent segment and strong consumption from the cosmetics sector.
For the Quarter Ending December 2020
North America
Triethanolamine availability in the domestic market remained low during Q4 2020, due to several trade barriers and scheduled turnaround in several plants of feedstock Ethylene Oxide in US1w. Meanwhile the exports of Triethanolamine were hampered due to the supply disruptions caused by spate of hurricanes in the Gulf region. In December, net purchases of TEA and its salts reached USD 560 thousand amidst its favorable demand from downstream industries.
Asia
With major manufacturers like Xian Lin Chemical & Jiangsu Yinyan Specialty Chemicals in China operating at maximum plant efficiency, supplies of the Triethanolamine remained healthy, throughout the fourth quarter of 2020. Meanwhile, the demand witnessed a significant improved uptrend economy started to recover after the wase in Covid-19 restrictions followed by the increased industrial and commercial activities across the region. With TEA being a major industrial solvent, traders and buyers were heard mounting up their inventories amid supply concerns and surging downstream demand. All the sectors re-opened fully or partially including construction.
Europe
During the Q4 of 2020, supplies remained constrained, as the imports in the region were hindered by planned outage caused due to spate of hurricanes in the US Gulf region. BASF’s Ethylene Oxide (EO) plant in Antwerp (Belgium) underwent a scheduled turnaround which resulted in its shortage in the regional market. Meanwhile remained mixed in Europe, with imposition of a partial lockdown to curtail the stress of new coronavirus. Although the construction industry witnessed an uptrend with improved consumption of TEA.
