China: Monoethanolamine Market 2024

Monoethanolamine Market Size in China

In 2021, the Chinese monoethanolamine market decreased by -19% to $X, falling for the second consecutive year after three years of growth. Overall, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.7% against 2019 indices. Monoethanolamine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Monoethanolamine Production in China

In value terms, monoethanolamine production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 75% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Monoethanolamine Exports

Exports from China

For the third year in a row, China recorded growth in overseas shipments of monoethanolamine and its salts, which increased by 3,995% to X tons in 2021. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, monoethanolamine exports soared to $X in 2021. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for monoethanolamine exports from China, with a 69% share of total exports. Moreover, monoethanolamine exports to India exceeded the volume sent to the second major destination, Russia (X tons), more than tenfold. The third position in this ranking was taken by South Korea (X tons), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +93.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and South Korea (+158.1% per year).

In value terms, India ($X) emerged as the key foreign market for monoethanolamine and its salts exports from China, comprising 66% of total exports. The second position in the ranking was held by Russia ($X), with a 7.3% share of total exports. It was followed by South Korea, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to India amounted to +81.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and South Korea (+133.6% per year).

Export Prices by Country

In 2021, the average monoethanolamine export price amounted to $X per ton, falling by -15.3% against the previous year. In general, the export price continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by 57%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per ton) and Russia ($X per ton), while the average price for exports to India ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+2.1%), while the prices for the other major destinations experienced mixed trend patterns.

Monoethanolamine Imports

Imports into China

Monoethanolamine imports into China reduced markedly to X tons in 2021, which is down by -48.6% against 2020 figures. Over the period under review, imports, however, posted a measured increase. The most prominent rate of growth was recorded in 2017 when imports increased by 45% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, monoethanolamine imports reduced notably to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 39% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of monoethanolamine to China, with a 56% share of total imports. Moreover, monoethanolamine imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Iran (X tons) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia stood at +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.5% per year) and Iran (-7.1% per year).

In value terms, the largest monoethanolamine suppliers to China were Saudi Arabia ($X), Malaysia ($X) and Germany ($X), with a combined 81% share of total imports.

Germany, with a CAGR of +19.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average monoethanolamine import price amounted to $X per ton, growing by 22% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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