Eastern Asia: Triethanolamine Market 2024

Triethanolamine Market Size in Eastern Asia

After four years of growth, the East Asian triethanolamine market decreased by -3.8% to $X in 2021. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced in the following year.

Triethanolamine Production in Eastern Asia

In value terms, triethanolamine production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 17%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Triethanolamine Exports

Exports in Eastern Asia

In 2021, overseas shipments of triethanolamine and its salts increased by 19% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 32% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, triethanolamine exports reduced notably to $X in 2021. In general, exports, however, faced a abrupt curtailment. The growth pace was the most rapid in 2013 with an increase of 21% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea represented the major exporter of triethanolamine and its salts in Eastern Asia, with the volume of exports finishing at X tons, which was near 72% of total exports in 2021. Japan (X tons) ranks second in terms of the total exports with a 15% share, followed by Hong Kong SAR (10%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Exports from South Korea increased at an average annual rate of +13.5% from 2012 to 2021. At the same time, Hong Kong SAR (+13.7%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.7% from 2012-2021. By contrast, Japan (-9.4%) and Taiwan (Chinese) (-35.8%) illustrated a downward trend over the same period. South Korea (+60 p.p.) and Hong Kong SAR (+8.4 p.p.) significantly strengthened its position in terms of the total exports, while Japan and Taiwan (Chinese) saw its share reduced by -3.2% and -59.6% from 2012 to 2021, respectively.

In value terms, South Korea ($X) remains the largest triethanolamine supplier in Eastern Asia, comprising 50% of total exports. The second position in the ranking was held by Japan ($X), with a 25% share of total exports. It was followed by Hong Kong SAR, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-14.8% per year) and Hong Kong SAR (+4.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, declining by -38.4% against the previous year. In general, the export price faced a abrupt contraction. The pace of growth appeared the most rapid in 2018 an increase of 22% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-6.0%), while the other leaders experienced a decline in the export price figures.

Triethanolamine Imports

Imports in Eastern Asia

In 2021, imports of triethanolamine and its salts in Eastern Asia stood at X tons, with an increase of 1.9% compared with the year before. In general, imports, however, recorded a noticeable decline. The growth pace was the most rapid in 2020 when imports increased by 76% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, triethanolamine imports expanded to $X in 2021. Over the period under review, imports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 55%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea represented the largest importer of triethanolamine and its salts in Eastern Asia, with the volume of imports reaching X tons, which was approx. 48% of total imports in 2021. It was distantly followed by China (X tons) and Japan (X tons), together mixing up a 45% share of total imports. The following importers - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - each resulted at a 6.3% share 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 Hong Kong SAR (with a CAGR of +66.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest triethanolamine importing markets in Eastern Asia were South Korea ($X), Japan ($X) and China ($X), together accounting for 91% of total imports. These countries were followed by Taiwan (Chinese) and Hong Kong SAR, which together accounted for a further 9.2%.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +54.4%, 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 Eastern Asia amounted to $X per ton, leveling off at the previous year. In general, the import price recorded a abrupt setback. The growth pace was the most rapid in 2016 an increase of 1.4% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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