ASEAN: Triethanolamine Market 2024

Triethanolamine Market Size in ASEAN

In 2021, the ASEAN triethanolamine market decreased by -1.1% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Triethanolamine Production in ASEAN

In value terms, triethanolamine production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Triethanolamine Exports

Exports in ASEAN

In 2021, shipments abroad of triethanolamine and its salts decreased by -15.9% to X tons, falling for the fifth consecutive year after three years of growth. Overall, exports recorded a precipitous slump. The pace of growth appeared the most rapid in 2016 with an increase of 4.8%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, triethanolamine exports contracted significantly to $X in 2021. Over the period under review, exports saw a dramatic decrease. The most prominent rate of growth was recorded in 2014 with an increase of 9.5%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Malaysia (X tons) was the main exporter of triethanolamine and its salts, committing 86% of total exports. It was distantly followed by Singapore (X tons), creating a 14% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to triethanolamine exports from Malaysia stood at -29.4%. Singapore (-13.1%) illustrated a downward trend over the same period. While the share of Malaysia (+16 p.p.) and Singapore (+12 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest triethanolamine supplier in ASEAN, comprising 86% of total exports. The second position in the ranking was taken by Singapore ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia amounted to -29.4%.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, leveling off at the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 24%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.0%).

Triethanolamine Imports

Imports in ASEAN

In 2021, approx. X tons of triethanolamine and its salts were imported in ASEAN; increasing by 2.9% on 2020 figures. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 36% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, triethanolamine imports reached $X in 2021. The total import value increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 23% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

The Philippines (X tons) and Singapore (X tons) were the main importers of triethanolamine and its salts in 2021, resulting at near 37% and 36% of total imports, respectively. It was distantly followed by Vietnam (X tons), creating a 21% share of total imports. The following importers - Malaysia (X tons) and Indonesia (X tons) - each accounted for a 6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +24.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 94% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +20.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 3.5% against the previous year. Overall, the import price, however, recorded a pronounced curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Vietnam ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform