For the Quarter Ending June 2023

North America

During the second quarter, the Triethanolamine market in the US remained weak as compared to the first quarter. The Triethanolamine market continued to continue to decrease until the third week of May amid a steep fall in feedstock Ammonia and Ethylene Oxide. The 56.5% drop in feedstock prices from April to June was closely related to the markdown prices of Triethanolamine. Additionally, ample product availability and a falling US economy contributed to the slower product demand. As per the data, the Industrial Production Total Index fell from 103.1 (April) to 103 (May), causing trading activities to be low. Despite having soft feedstock prices, the cost of Triethanolamine has climbed amidst rising inflationary pressure on producers due to a minor shortage in the market and marginal improvement in consumer demand to settle at 1326 USD/tonne FOB Texas during the third week of June. Additionally, the application of Triethanolamine in the US construction and automotive sector has improved, significantly affecting the price trend.

Triethanolamine Prices: https://www.chemanalyst.com/Pricing-data/triethanolamine-1208


Asia

During the second quarter, Asia's Triethanolamine market expanded compared to the first quarter due to boosted demand from downstream industries. The exponential rise in prices has been observed during the second quarter of 2023 amid accelerated demand in Asian cosmetic markets like China, South Korea, and Malaysia. Despite having weak feedstock Ammonia prices, the demand from the downstream industries, including the cosmetic and automotive sectors, kept increasing, affecting the overall pricing trend. South Korean won appreciated by 1.57% against USD during May 2023. Moreover, a marginal decline in product availability in the regional market due to plant turnaround by Taiwanese manufacturers affected the price trend. Some partial supply reduction due to minor import delays was observed during May. Disruption in supply and inadequate product availability hamper the prices to settle at 1040 USD/tonne Triethanolamine CFR Busan (South Korea) during the fourth week of May along with the 1013 USD/tonne Triethanolamine FOB (Malaysia). However, the pricing trend has been fluctuating in India due to the demand-driven of the product.

Europe

During the second quarter, Triethanolamine in the European market has remained weak as compared to the first quarter. A continuous decrease in prices of Triethanolamine has been observed for another quarter of 2023 amid a significant fall in feedstock Ammonia prices. The market situation has been bearish throughout the quarter due to consistently contracting economic activities amid weak demand in the European market. Moreover, the supply of the product remained ample enough to cater to the demand along with the stable freight charges, which has overall influenced the prices to show a downward trend. Enough stocks were available for a spot as well as contract procurement purposes, driving the prices to settle at 1183 USD/tonne Triethanolamine FD Antwerp (Belgium) during the first week of June. Despite having lower feedstock Ammonia prices in Europe during June, the rate of Triethanolamine surged as the production cut was announced by BASF, Ludwigshafen, Germany, due to maintenance turnaround. Squeezing Natural gas supplies for Europe and protracted inflationary pressure impacted the overall Triethanolamine market.

Triethanolamine Prices: https://www.chemanalyst.com/Pricing-data/triethanolamine-1208

MEA

During the second quarter, Triethanolamine market in Saudi Arabia has exponentially grow compared with first quarter amid increasing demand for product and its salts. Despite the price drop of feedstock Ammonia in Saudi, continuous increase in prices of Triethanolamine has been observed for another quarter of 2023. After one year of decline, the Saudi Triethanolamine market was finally on rise. Exports from Saudi Arabia has been expanded to China, Belgium and Turkey. However, the regional demand remained stable. During this timeframe, the supply chain has improved at the sharpest pace. According to data, PMI indices for Riyad Bank Saudi Arabia has increased from 58.5 (May) to 59.6 (June) as the output rose the most with increasing sales amid boost in purchasing activity and growing stocks. Improved economic conditions affected the buying sentiments to grow, hampered the prices to settle at 1040 USD/tonne Triethanolamine CFR Busan (South Korea) during fourth week of May. Further contribution in uptrend due to partial shortage of the material, opportune middle eastern player to do the same.


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