Belgium: Triethanolamine Market 2024

Triethanolamine Market Size in Belgium

The Belgian triethanolamine market dropped modestly to $X in 2021, remaining constant against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Triethanolamine Production in Belgium

In value terms, triethanolamine production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Triethanolamine Exports

Exports from Belgium

For the third year in a row, Belgium recorded decline in overseas shipments of triethanolamine and its salts, which decreased by -30.5% to X tons in 2019. Overall, exports showed a sharp reduction. The pace of growth was the most pronounced in 2013 with an increase of 28% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2019, the growth of the exports remained at a lower figure.

In value terms, triethanolamine exports fell to $X in 2019. Over the period under review, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2013 when exports increased by 30%. As a result, the exports reached the peak of $X. From 2014 to 2019, the growth of the exports remained at a lower figure.

Exports by Country

France (X tons), the United States (X tons) and the UK (X tons) were the main destinations of triethanolamine exports from Belgium, with a combined 65% share of total exports.

From 2012 to 2019, the biggest increases were recorded for the United States (with a CAGR of -10.7%), while shipments for the other leaders experienced a decline.

In value terms, France ($X), the United States ($X) and the UK ($X) were the largest markets for triethanolamine exported from Belgium worldwide, with a combined 61% share of total exports.

The United States, with a CAGR of -4.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average triethanolamine export price stood at $X per ton in 2019, increasing by 36% against the previous year. Over the period under review, the export price enjoyed resilient growth. The growth pace was the most rapid in 2018 when the average export price increased by 61% against the previous year. Over the period under review, the average export prices attained the maximum in 2019 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Triethanolamine Imports

Imports into Belgium

In 2019, imports of triethanolamine and its salts into Belgium shrank rapidly to X tons, waning by -54.2% against the year before. Over the period under review, imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 142% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2019, imports failed to regain momentum.

In value terms, triethanolamine imports contracted rapidly to $X in 2019. In general, imports recorded a sharp reduction. The pace of growth appeared the most rapid in 2018 with an increase of 170%. Imports peaked at $X in 2014; however, from 2015 to 2019, imports failed to regain momentum.

Imports by Country

In 2019, Saudi Arabia (X tons) constituted the largest supplier of triethanolamine to Belgium, with a 51% share of total imports. Moreover, triethanolamine imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. France (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2019, the average annual rate of growth in terms of volume from Saudi Arabia stood at +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-34.8% per year) and France (-11.9% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of triethanolamine and its salts to Belgium, comprising 55% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Russia, with an 8.7% share.

From 2012 to 2019, the average annual rate of growth in terms of value from Saudi Arabia amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-33.9% per year) and Russia (-18.9% per year).

Import Prices by Country

The average triethanolamine import price stood at $X per ton in 2019, approximately mirroring the previous year. In general, the import price continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2017 an increase of 12% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by the United States (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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