Asia: Triethanolamine Market 2024

Triethanolamine Market Size in Asia

The Asian triethanolamine market totaled $X in 2021, remaining constant against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Triethanolamine Production in Asia

In value terms, triethanolamine production amounted to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 12% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Triethanolamine Exports

Exports in Asia

In 2021, overseas shipments of triethanolamine and its salts increased by 2.6% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 5.5% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, triethanolamine exports dropped markedly to $X in 2021. Overall, exports, however, showed a sharp decline. The most prominent rate of growth was recorded in 2013 when exports increased by 1.5%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iran (X tons) and South Korea (X tons) dominates exports structure, together comprising 73% of total exports. Malaysia (X tons) took an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by Japan (6.3%) and Saudi Arabia (5.2%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Hong Kong SAR (with a CAGR of +13.7%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) remains the largest triethanolamine supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total exports. It was followed by South Korea, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Iran amounted to -11.3%. In the other countries, the average annual rates were as follows: Malaysia (-29.4% per year) and South Korea (-0.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, waning by -19% against the previous year. Overall, the export price recorded a abrupt slump. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.0%), while the other leaders experienced a decline in the export price figures.

Triethanolamine Imports

Imports in Asia

Triethanolamine imports rose slightly to X tons in 2021, growing by 1.9% compared with the previous year. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, triethanolamine imports expanded modestly to $X in 2021. Overall, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 30%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons), distantly followed by China (X tons), the Philippines (X tons), Singapore (X tons), Japan (X tons), Turkey (X tons) and Vietnam (X tons) were the key importers of triethanolamine and its salts, together comprising 83% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main 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, South Korea ($X), the Philippines ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 46% share of total imports.

The Philippines, with a CAGR of +20.1%, saw the highest growth rate of the value of imports, among the main importing countries 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 Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2018 when the import price increased by 2.3% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while China ($X per ton) was 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

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