Singapore: Triethanolamine Market 2024

Triethanolamine Market Size in Singapore

In 2021, after two years of decline, there was growth in the Singaporean triethanolamine market, when its value increased by 1.4% to $X. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Triethanolamine Production in Singapore

In value terms, triethanolamine production rose slightly to $X in 2021 estimated in export price. In general, production, however, saw a mild descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Triethanolamine Exports

Exports from Singapore

For the fourth year in a row, Singapore recorded decline in overseas shipments of triethanolamine and its salts, which decreased by -4.9% to X tons in 2021. In general, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 278%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, triethanolamine exports contracted to $X in 2021. Overall, exports saw a deep downturn. The pace of growth was the most pronounced in 2014 when exports increased by 288% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for triethanolamine exports from Singapore, with a 51% share of total exports. Moreover, triethanolamine exports to Indonesia exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia stood at -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+67.2% per year) and South Korea (-14.2% per year).

In value terms, Indonesia ($X) remains the key foreign market for triethanolamine and its salts exports from Singapore, comprising 58% of total exports. The second position in the ranking was held by the Philippines ($X), with an 8.4% share of total exports. It was followed by South Korea, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia amounted to -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+34.4% per year) and South Korea (-16.4% per year).

Export Prices by Country

In 2021, the average triethanolamine export price amounted to $X per ton, shrinking by -1.5% against the previous year. Over the period under review, the export price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 8% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-1.3%), while the prices for the other major destinations experienced a decline.

Triethanolamine Imports

Imports into Singapore

In 2021, approx. X tons of triethanolamine and its salts were imported into Singapore; almost unchanged from the previous year's figure. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 186%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, triethanolamine imports reached $X in 2021. In general, imports saw a remarkable increase. The growth pace was the most rapid in 2017 with an increase of 145% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest triethanolamine supplier to Singapore, with a 78% share of total imports. Moreover, triethanolamine imports from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.8% per year) and Thailand (+49.1% per year).

In value terms, the United States ($X) constituted the largest supplier of triethanolamine and its salts to Singapore, comprising 72% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.1% per year) and Thailand (+54.4% per year).

Import Prices by Country

The average triethanolamine import price stood at $X per ton in 2021, leveling off at the previous year. In general, the import price, however, continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 19% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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