Middle East: Triethanolamine Market 2024

Triethanolamine Market Size in the Middle East

In 2021, the Middle Eastern triethanolamine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a mild shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Triethanolamine Production in the Middle East

In value terms, triethanolamine production rose to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 with an increase of 7.7%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Triethanolamine Exports

Exports in the Middle East

For the sixth consecutive year, the Middle East recorded decline in shipments abroad of triethanolamine and its salts, which decreased by -1.2% to X tons in 2021. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 15%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, triethanolamine exports reduced modestly to $X in 2021. In general, exports saw a deep downturn. The growth pace was the most rapid in 2015 when exports increased by 6.9% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Iran represented the largest exporter of triethanolamine and its salts in the Middle East, with the volume of exports resulting at X tons, which was near 89% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), making up an 11% share of total exports.

Exports from Iran decreased at an average annual rate of -6.5% from 2012 to 2021. At the same time, Saudi Arabia (+5.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +5.6% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia increased by +6.9 percentage points.

In value terms, Iran ($X) remains the largest triethanolamine supplier in the Middle East, comprising 89% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Iran amounted to -11.3%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, dropping by -3.5% against the previous year. Overall, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2013 an increase of 1.3% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Iran ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.7%).

Triethanolamine Imports

Imports in the Middle East

In 2021, approx. X tons of triethanolamine and its salts were imported in the Middle East; with an increase of 1.6% on the year before. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 81%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, triethanolamine imports expanded modestly to $X in 2021. In general, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 119%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the key importer of triethanolamine and its salts in the Middle East, with the volume of imports reaching X tons, which was approx. 51% of total imports in 2021. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 33% share, followed by Oman (9%) and Israel (5.9%).

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +28.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X) constitutes the largest market for imported triethanolamine and its salts in the Middle East, comprising 48% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total imports. It was followed by Oman, with an 18% share.

In Turkey, triethanolamine imports decreased by an average annual rate of -8.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+23.9% per year) and Oman (+14.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, surging by 2.2% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 an increase of 21% 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 failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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