For the Quarter Ending March 2024
North America
During the first quarter of 2024, the Triethylamine market in North America encountered some obstacles. Various factors influenced the market dynamics during this period. Overall, Triethylamine supply remained steady. However, there was a decline in demand, particularly from the Agrochemical and Rubber and Plastic sectors. On the other hand, the Pharma and Personal Care sectors experienced positive growth in demand.
As per the price actions its being indicated that the continuous buying activities from the market participants has cumulatively resulted into shift towards destocking of the inventories due to which this quarter witnessed continuous decline in the price. However, the price trend of Ammonia and Ethanol has significantly contributed towards price decline this quarter.
In the United States, which had the most significant impact on the North American Triethylamine market, the price of Triethylamine during the first quarter of 2024 remained stable compared to the same quarter in the previous year. The price for Triethylamine in the USA during this period was USD 2450/MT FOB Texas marking a decline of 11.23% from Q3 2023.
APAC
During the first quarter of 2024, the Triethylamine (TEA) market in the APAC region remained steady. The supply of TEA was moderate to high, and there was lower demand from sectors such as pharmaceuticals, personal care, and Dyes & Pigments sector from the Indian market. However, China, which experienced significant price fluctuations, faced a decline in demand from the agrochemical, pharmaceutical and other respective sectors. This led to suppliers destocking their inventory, resulting in a bearish market throughout the quarter. Compared to the same quarter in the previous year, prices declined by 7.96%. In the current quarter, there was a further decrease of 6.04% from the previous quarter due to lower demand after the holidays. However in the feedstock market the price of the feedstock particularly Ethanol and Ammonia also witnessed continuous declining trend this quarter which has majorly impacted the price of the TEA in the respective period. Despite these challenges, the latest price for Triethylamine FOB-Qingdao in China in the current quarter is USD 1896/MT.
Europe
In the European region, Triethylamine prices are experiencing a notable decline amidst downturns in key sectors. The agrochemical, pharmaceutical, and rubber and polymer industries are all witnessing downward trends, indicating reduced demand for Triethylamine. This decline in demand has prompted suppliers to engage in destocking activities, further exacerbating the downward price trend. At present, Triethylamine prices are on a declining trajectory, reflecting the broader market dynamics and challenges faced by various sectors. With these industries experiencing downturns, the need for Triethylamine diminishes, leading to excess supply and downward pressure on prices. Additionally, decreases in ethanol and ammonia feedstock prices further contribute to the decline in Triethylamine prices. The Supply chain issues appear to be diminishing by the end of this quarter. Manufacturers are shaking off the supply chain disruptions caused by Houthi attacks in the Red Sea. Overall, the current market conditions in the European region indicate a challenging environment for Triethylamine, with prices continuing to decline amidst weakened demand and favorable feedstock conditions.
For the Quarter Ending December 2023
North America
In the United States, the price of Triethyl Amine has exhibited an upward trend in the market, attributed to a robust and healthy market trend among suppliers. The price increase is linked to favorable fluctuations in Ethanol and Ammonia prices, which have not experienced significant spikes in either direction. The US market has witnessed a substantial demand for Triethyl Amine, leading to increased exports during the respective month.
Factors such as rising freight charges along specific routes and tensions between the Middle East and the Panama Canal, albeit at a low level, have also contributed to the surge in prices in the US market. Manufacturing PMI data for the month indicates a noteworthy increase, reflecting the ongoing restructuring of the US economy over the past few quarters. The supply of Triethyl Amine is on a downward trajectory, primarily influenced by the high prices set by the USA, diverging from overall fluctuations in feedstock markets and industrial demands in sectors such as Pharma, Textile, Detergent, Dyes and Pigments, and other miscellaneous industries.
Traders are consistently bidding, reflecting a stable market trend. As of this quarter, the price of Triethyl Amine in the USA concluded at 2760 USD/MT FOB-Texas, marking an increase of 7.81%.
APAC
As of the 4th Quarter of 2024, the Triethyl Amine market in the Asia-Pacific region, primarily in China, has witnessed a decrease in prices. This decline can be linked, in part, to the cost support provided by favorable conditions in the feedstock market, where the prices of Ammonia and Ethanol in the domestic market have shown no significant momentum throughout the month. Key players in the amines industry are making substantial capital expenditures (CAPEX) to expand their operations, aiming to reduce import dependency on China. The lower Purchasing Managers' Index (PMI) data for this month indicates a reduction in industrial production within the domestic market. This comprehensive analysis sheds light on various factors influencing the Triethyl Amine market in China. The bearish trend is attributed to the ample availability of inventories in major industries, leading to a subdued interest from suppliers for new accumulations. At the conclusion of this quarter, the price of Tri Ethylamine stood at 2018 USD/MT FOB - Qingdao, marking a decline of 6.13%.
Europe
During the current quarter, Germany has experienced a notable increase in the price of Triethyl Amine. The economic environment is characterized by uncertainty, influenced by the prevailing interest rate policy, and escalating geopolitical risks. Major industries in Germany are grappling with challenges stemming from the upward trajectory of raw material prices, impacting both demand and profit margins. The upward trend in the manufacturing Purchasing Managers' Index (PMI) signals a surge in industrial activities and heightened demand from end-users this month. Triethyl Amine is in substantial demand in Germany, particularly in crucial sectors such as surfactants, fertilizers, pharmaceuticals, and various miscellaneous industries within the downstream market. The demand for Triethylamine in Germany remains robust, with exports also displaying an upward trend. The apparent halt to Chinese inventory dumping, coupled with increased domestic chemical production, has led to increased demand from domestic manufacturers and downstream markets, indicating a favorable trend for production growth. The imbalance between supply and demand dynamics, coupled with geopolitical tensions in the Middle East, has contributed to the surge in prices across the German market.
For the Quarter Ending September 2023
North America
During the 3rd quarter of 2023, the price trend of Triethylamine declined as compared to the 2nd quarter of 2023, prices of the commodity reached USD 2423/MT (FOB-Texas) on September 2023. In July 2023, the prices of the product declined as the supply chain situation seemed to be moderate enough to meet the downstream demand from the Textile industry. Trades of Triethylamine from the USA to the North American market also plunged, and the trades were majorly held on a need-to basis. However, in August and September 2023, the price trend was recorded to be rising due to the increase in demand from downstream sectors, particularly Agriculture and pharmaceutical. This heightened demand and strategic purchasing have kept market sentiments positive and led to an increase in the market value of the product over the month. Additionally, the robust market fundamentals of Ethanol and crude oil have also contributed to the rising production costs of Triethylamine. Participants in the market are actively engaged in increased trading activity and are committed to accumulating substantial inventories to counter the future demand from the downstream industries.
APAC
The market price of Triethylamine declined during the 3rd quarter of 2023 as compared to the 2nd quarter of 2023. Prices of the product reached USD 2070/MT (FOB-Qingdao) in September 2023. In July 2023, there was a decline in demand and sufficient product inventories among the ports, which caused the prices to plunge. Trade activities of Triethylamine had been fragile due to sluggish domestic demand. Production rate among the major enterprises reduced as adequate stocks fear the market players to avoid further stockpiles. The demand for Triethylamine from the downstream Textile auxiliaries and dyes industries also declined, and players operated their plants as per the downstream enterprises' requirements. However, in August and September 2023, the market encountered a consistent challenge due to sluggish demand from downstream Rubber and Plastics manufacturing companies. Although the Pharmaceuticals and Agrochemicals sector demonstrated robust global demand, it wasn't sufficient to alter the prevailing market trend. Nevertheless, the heightened demand from these sectors played a role in maintaining the overall market value.
Europe
During the third quarter ending on September 2023, the market prices of Triethylamine plunged in the European region with a fall in operating rates for the product due to sufficient inventories in the storage units to avoid the oversupplies of the product. The demand for the product from the downstream Pharmaceutical and Agrochemical enterprise was low, which was compensated by the existing inventories in the storage units with no need to restock the commodity. Therefore, the purchasing activities declined from the buyer's end. In terms of the upstream market, the prices of Ammonia and Ethanol increased and decreased, respectively. In terms of the spread between the final product and its feedstock, it was recorded to be less, as due to the declined prices of the feedstock and decreased demand, the prices of the end product declined as well. Due to the adequate stocks in the storage units, the production rate of the commodity decreased, which made the suppliers decline their offers and bids to enhance their profit margins and to provide discounts on bulk purchases to the buyers.
For the Quarter Ending June 2023
North America
The market price of TEA plunged in the North American region during Q2, 2023 as per reported by trade data. At the same time, Unifi was down 6.4%. In contrast, the industry has lost 31% in the last 12 months. Earnings are forecast to grow by 111% annually. Investors are pessimistic about the American Textiles industry, indicating that they anticipate long-term growth rates will be lower than they have historically. The 3-year average PS ratio of 1.2x is higher than the industry's current PS ratio of 0.25x. The inventory level of Triethyl Amine elevated in the US market due to lower consumption from the downstream region as per the report. Unit labour costs in the US non-farm business sector rose an annualized 4.2% in the first quarter, less than preliminary estimates of 6.3% and below market expectations of a 6% gain. The PMI in the region also depleted by 46.3, pointing to the biggest contraction in the manufacturing sector since December. New orders were depleted with plunging demand linked to muted customer confidence, while international downstream demand was also subdued, and input buying from the downstream market fell to its steepest rates. The US CPI also plunged to 4% in the region, relieving the pressure and impact of high prices on Triethylamine.
APAC
The market price of Triethylamine followed a plummeting path during the second quarter of 2023 as per trade data. The investigations of Triethylamine in Asia indicate depleting variations found in production expenditures accrued while realizing targeted chemical compounds via reactivity with base materials including Methanol & Ammonia whose values stayed constant. Weakened enthusiasm expressed toward purchasing previously mentioned chemical entities has contributed negatively toward market ambience persisting in Asia Pacific territories. According to market records, diminishing expenses relating to creation plus variable labour force and energy tariffs led to reduced prices within the Indian marketplace applicable to TEA merchandise resulting from these factors. Despite positive market sentiment derived from significant demand for chemical substances crucial to the Pharmaceuticals, Rubber and Textile sectors - corresponding industries experienced mixed fortunes over the past several weeks; the Pharma sector underwent an appreciable upswing estimated roughly equivalent of 1.6%, the key contributor being apparent progress of Sun Pharmaceutical Industries amounting to 2.2%. A comparative analysis covering the entire previous year reveals total market expansion approximating +16%. Prospects suggest a solid 18% annualized growth figure across subsequent quarters heading into the distant future; while the Flat textiles segment is accompanied by modest improvement observed among major players including Raymond whose performance reached a 4.8% surge over recent interval of seven days. The prior twelve-month timeframe exposed 12% accumulative value enhancement relative to the broader market position; expectations point toward a 28% five-year moving average profitability expectation valuation.
Europe
During the fourth quarter of 2023, the Textile sector experienced sluggish growth, leading to a decline in the market value of Triethyl Amine as indicated by available trade data. Regrettably, the industry suffered a downturn of 20%, compared to the corresponding period one year ago. Overall, the earnings for companies operating in the Textile industry have undergone a steep decline of 68% annually during the preceding three years. Concurrently, revenue generation for these enterprises dropped by 20% each year. These developments suggest that sales from these organizations have diminished, resulting in a proportional reduction in their profits. Notwithstanding these challenging circumstances, dealers and merchants observed an increase in the stockpile of Triethylamine due to subdued demand from the downstream textile market and Quaternary Ammonium Salts in the regional data. The stock of feedstock of TEA (Ethanol and Ammonia) elevated in the European market, as per trade data in the region according to the Research Team of ChemAnalyst and the inventory level of TEA elevated.
For the Quarter Ending March 2023
North America
The Triethylamine prices in the US market fluctuated during the first quarter of 2023. Although the initial two months of the quarter saw a price increase of approximately 3% and 1%, respectively, due to limited supply, the demand from the Rubber and Pesticides industries remained strong. However, in March, the price of Triethylamine decreased by approximately 2.5%, in line with the declining trend of its feedstock Ammonia, whose price fell by around 33% during the same month. Despite the oversupply of Triethylamine in the global market, low demand abroad resulted in reduced feedstock Ammonia prices, further impacting the Triethylamine price. Consequently, at the end of Q1 2023, the Triethylamine price in the US market was around USD 2644/MT.
APAC
In the first quarter of 2023, the price of Triethylamine in the Asian market was characterized by mixed sentiments. The unstable price of feedstock Ammonia was the primary driver of these price fluctuations. The price of the product rose by 2.5% and 0.5% in India in January and February, respectively, following a 5.6% increase in the price of feedstock Ammonia in January. The demand from downstream Rubber and Pesticide industries also increased in February and supported the price trend of the product. However, in March, the price of Triethylamine fell by 1.5% due to abundant product availability in the Asian market and low domestic demand. The global demand for feedstock Ammonia also influenced the price of Triethylamine, which fell by about 10% in March 2023. In the Chinese market, the product price decreased in January and March, while it increased by around 3.5% in February. Overall, the fluctuating price of feedstock Ammonia and the varying demand from downstream industries significantly impacted the price of Triethylamine in the Asian market during Q1 2023.
Europe
During Q1 2023, the price of Triethylamine in the European market experienced mixed sentiments. The major reason behind the price fluctuations was attributed to imports from overseas, particularly from the United States. While the price of Triethylamine increased in the first month of the quarter, it declined rapidly in the second and third months due to decreased demand from downstream industries. Additionally, the high inflation rate and cost of living contributed to the decline in demand for the product as businesses were forced to increase their prices in response to the high cost of production. This, in turn, further reduced demand for the product. The price of the product in these months was also influenced by the overseas prices as the price of the product declined in the global market.
For the Quarter Ending December 2022
North America
In Q4 2022, the price of Triethylamine in Oct and Nov showcased the uptick in trading activities with an elevation in production cost. However, towards the end of the quarter, the purchasing activities remained hampered by product oversupplies. The price hike in Triethylamine caused several disruptions in downstream textile auxiliaries with strong trading fundamentals. The major contribution to the increase in the price is high purchasing activities and low inventories among the ports. Surging energy prices also put enormous pressure on Petrochemical products, and their limited availability resulted in a surge in prices. However, towards the end of the quarter, increasing production rates and declining spot prices resulted in slow market offtakes.
Asia Pacific
This quarter, the price of Triethylamine in the Asia Pacific region slumped with trading activities on an immediate basis. In Dec, the price of Triethylamine in China declined to USD 2150/ton FOB Qingdao. New offers from major domestic and regional producers remain limited, and players saw stable-to-softer pricing as weak supply and demand fundamentals remained intact in the market. Exports of Triethylamine from China to other Asian regions remain limited with feeble trading dynamics. The demand for Triethylamine from downstream textile auxiliaries remains limited and feeble trading remains a serious concern for the producers to clear their stocks. Trade activities of Triethylamine had been fragile due to sluggish domestic demand and high product inventories among the ports.
Europe
In Q4 2022, with declining trading activity due to the increasing Triethylamine production rate among the enterprises, the major producers offered discounts on bulk purchases. With cautiously operating manufacturing units, demand for Triethylamine in the downstream textile auxiliary industry remains tepid. There was low support on the cost side with weak market fundamentals. Ease in energy values and low production rate among the enterprises results in oversupplies forcing the producers to clear their existing inventories. This quarter, the European Amine market suffered from low purchasing activities and weak market fundamentals. Low freight charges and sufficient container availability in the region resulted in a reduction in transportation charges.
For the Quarter Ending September 2022
North America
This quarter, the price of Triethylamine declined due to sufficient product availability and weak market fundamentals. Feedstock Ammonia prices also slowed, prompted by adequate supply and rising port inventories. Exports from the USA to Brazil traded on the lower end with lower purchasing esteem and reduced freight charges. In August, the price of Triethylamine in the USA slipped to USD 2472/ton FOB Texas. The demand for Triethylamine in the region faded, and US producers offered steep discounts to Brazil and Japan. Downstream Textile auxiliaries and Ammonium compounds enterprises are heard to operate their plant cautiously as per the need from the consumer's end.
Asia Pacific
With deterred interest from the downstream textile auxiliary industry and weak dyes sector, the market essentials of Triethylamine declined this quarter. Feedstock Ammonia costs are likewise reduced with a rising production rate among the manufacturing units. In China, the price of Triethylamine during Sept dropped to USD 2440/ton FOB Qingdao. With the deterred market fundamentals, the demand for Triethylamine from the textile aides industry declined, which affected the price dynamics. With the deteriorating market, major producing units reduced their plant's operating rate in fear of oversupplies. Dreary interest from purchasers coupled with adequate inventory continues to pressure Triethylamine costs. Domestic Triethylamine producers also reduced their product's prices in the wake of low bidding for new stocks.
Europe
In Q3 2022, storing Triethylamine inventories and oversupplies dropped the costs in Europe. In Germany, sentiment highlighted be imbalanced with feeble demand. Major Triethylamine producers cut their production rate and focused on clearing their existing inventories. Downstream dyes industries were operated moderately with sufficient stock and deterred requests from the end user. Low purchasing esteem and deteriorating demand resulted in such a trajectory. Bidding for the new stock remained low, and producers showed in the cargoes to fulfill their current requirements and avoid creating extra reserves. Fluctuations in the feedstock Ethanol and Ammonia market further supported the downtrend of the prices.
For the Quarter Ending June 2022
North America
The prices of Triethylamine fluctuated during the second quarter of 2022, backed by flickering upstream costs. The market value of Triethylamine surged till May and then dropped suddenly in June. As the price value of feedstock Ammonia increased until a significant drop in June, so did the upstream cost involved in the manufacturing of Triethylamine. Hence, the market sentiments toward Triethylamine changed accordingly. Furthermore, the downstream demand from the agriculture and pharmaceutical industries was strong during the first half of the quarter. However, the offtake started declining as soon as the second half of the quarter began. Besides, escalated energy costs, elevated freight charges, and halted ports amid Russia-Ukraine conflicts initially contributed to Triethylamine's price rise.
APAC
Unlike North America, the market value of Triethylamine surged consistently in the Asia-Pacific region during the quarter ending in June 2022. The continuous soar in the price of feedstock Ammonia, which escalated the manufacturing cost of Triethylamine, was one of the significant factors behind the price hike of Triethylamine. Furthermore, the enquiry for Triethylamine from agrochemical and pharmaceutical industries increased during the considered period, which exacerbated its values. Besides, inflationary pressure, congested ports, and supply disruptions owing to Russia-Ukraine war tensions and another covid-19 variant in China further propelled the Triethylamine prices upwards. Altogether, the consumer buying activities were frequent while the supply rate was inconsistent, causing the Triethylamine price to rise.
Europe
The Triethylamine pricing trend showed mixed sentiments in the European market during the second quarter of 2022. The market value, which was increasing in April, dropped in May, followed by another rise in June that did not exceed the value in April. Triethylamine prices followed the feedstock Ammonia market throughout the quarter, which fluctuated on the back of demand from the fertilizer industry. Meanwhile, the consumption of Triethylamine in agrochemical and pharmaceutical industries increased, propelling its price value further. Altogether, the changing supply and demand dynamic in the domestic market led to the instability in the price of Triethylamine in Europe.
For the Quarter Ending March 2022
North America
In Q1, the costs of Trimethylamine flooded as compared with previous quarter with the marginal level because of shortage of upstream Methanol and production of amine. The demand of Trimethylamine had likewise expanded with its utilization in downstream chemical manufacturing industries. Local producers surged the costs of Trimethylamine as low inventory compressed the end user industries to fulfil the necessity of the customers. In March, feedstock Methanol market was bullish, and the most activities came from US Gulf merchants for New Orleans, Louisiana due to surging demand. The bullish trend resulted in somewhat high costs in the US and robust cost in rest of the regions. In US, the price of Trimethylamine during March was observed to be USD 2703/ton CFR Texas.
Asia Pacific
In Q1 2022, the prices of Trimethylamine surged in India with succeeding months. The prices remained robust in India due to increase in its demand from the downstream chemical manufacturing industry. However, in China, the market remained strong for January and February, but demand went slightly down in the last month with feeble demand from the downstream enterprises. Feedstock Methanol were observed to be bullish which are accelerated by strong downstream demand and the industries inventories were started to increase towards the last week of March. In March, the price of Trimethylamine in India was observed to be USD 2512/ton Ex-Mumbai.
Europe
The instability in the prices of raw material supported by increasing consumption among the buyers gave boost to the prices of Trimethylamine in European market. In Europe, the demand of feedstock Methanol and amine also surged from the downstream chemical manufacturing industries where its consumption increased in January and February. In March, the export of Trimethylamine from China to European countries were affected mostly due to conflict between Russia and Ukraine due to which market was strong with low operating rate among the downstream enterprises resulting in price surge. In Germany, the price of Triethylamine during March was observed to be USD 3200/ton FD Hamburg.
For the Quarter Ending December 2021
North America
The prices of Triethylamine were surging in the North American market during the fourth quarter of 2021, backed by the intensified prices of Ammonia. The global shortage of nitrogen-based fertilizers was one of the major factors leading towards the augmented ammonia prices. Furthermore, the production of ammonia was sluggish owing to the distorted accessibility of feed as the industry was in the recovery from Hurricane Ida. Consequently, contributing towards the inclining prices of ammonia, and eventually supporting price surge of Triethylamine. Conclusively, the prices of Triethylamine were assessed to be at USD 3550/MT in the end of the year.
APAC
Asian countries witnessed a hike in the prices of triethylamine in Q4 FY21, caused by high ammonia prices. In India, the prices of ammonia were fuelling due to the enhanced demand for fertilizers as season for sowing rabi crops were continuing. The prices of Triethylamine in the Indian market were assessed to be at USD 3227/MT FOB basis, in the concluding month of the year. Chinese market experienced an upsurge in the Triethylamine prices as well. Augmented natural gas prices is one of the reasons behind this hike. Furthermore, there was a halt in the output of ammonia owing to China’s new declaration about reducing carbon emission.
Europe
The prices of triethylamine soared in the European market during fourth quarter of fiscal year 2021. This surge was caused by high ammonia prices due to the enhanced upstream cost involved in ammonia production. Furthermore, hike in natural gas prices and robust demand for nitrogen-based fertilizers were other factors supporting towards increment in the ammonia prices. Additionally, increase in freight charges and the shortage of shipping containers resulted in further amplification of ammonia prices, eventually led to a significant rise in the prices of Triethylamine.
For the Quarter Ending September 2021
North America
In Q3 of 2021, prices of Triethylamine rose effectively in the North American region as the demand remained strong from downstream pesticides, pharmaceuticals, and other sectors. In the US, due to extreme weather conditions, production levels and supply chain remained disrupted which resulted into lower inventories levels of the product in this timeframe that consequently shot up the prices of Triethylamine in the region. Besides, soaring values of upstream Ammonia also influenced the pricing trend of Triethylamine in Q3.
Asia Pacific
In Asia, prices of Triethylamine levelled up in the third quarter of 2021, backed by the persistent demand from the downstream industries. Besides, volatility in the upstream Ammonia values in the Indian and Chinese market due to the constraint supply from Middle East and other Asian countries as an impact of the outbreak of the Delta variant of coronavirus in these regions directly influenced the prices of Triethylamine. Besides lower production rates attributed to the dual control of Chinese authorities on energy consumption which further led to the hike in the prices of Triethylamine. Moreover, high freight charges also sent ripples to the prices of Triethylamine during this quarter.
Europe
In Europe, prices of Triethylamine witnessed an upward rally during Q3 2021 backed by the steep rise in the feedstock prices. Besides, an improvement in the offtakes from the downstream sectors after the recovery in the market activities further brought up the prices of Triethylamine in the region. Hence, overall Triethylamine market was catalyzed by the restocking sentiments which kept the regional market outlook firm in Q3. However, logistical issues continued to weigh on the Triethylamine market due to constant increase in freight charges in this timeframe.
For the Quarter Ending June 2021
North America
Supply in the North American region improved in comparison to the previous quarter as refineries that were previously affected by the polar storm resumed production. With improvement in operating rates the supply chain restored, however diversion of upstream commodities to manufacture other derivatives curtailed the supply of Triethylamine by significant margins. Demand remained firm from the downstream pharmaceutical sector. Consequently, Eastman Chemicals surged the prices of Triethylamine and its derivatives in April starting. Overall, pricing trend in the North American region was stabilized after a marginal gain in the second quarter of 2021.
Asia Pacific
During the second quarter of 2021, supply in the Asia Pacific region remained balance to tight following upstream plant turnarounds in April and May, which curtailed the availability of the key feedstocks in Northeast Asia and China. Whereas in the later half buyers in China were reluctant to procure high-cost feedstock amidst the rising inflation rates of raw materials in China. Overall market sentiments remained mixed with the rise in demand of Triethylamine from the downstream, pharmaceutical industries. Margins of all alkyl amines manufacturers increased by manifolds taking cues from high feedstock cost and rising demand.
Europe
The supply outlook in the European region improved in comparison to the previous quarter but remained pressurized due to the restricted availability of upstream products. Backlog orders from the US flourished in the domestic market but diversion of the upstream products to manufacture other commodities put forth significant pressure upon the Triethylamine market in the European region. Demand remained firm from the downstream pharmaceutical sector leading to a marginal uptrend in the prices throughout the quarter.
For the Quarter Ending March 2021
North America
North American Triethylamine market witnessed severe tight supplies due to the abrupt shortage of key feedstocks as the USA Gulf region was hit by the polar winter storm in mid-February. The regional industrial infrastructure collapsed as it could not withstand such low temperature. Due to adverse conditions, several major Triethylamine facilities were forced to shut the production including Dow and Eastman Chemicals. Demand in the region skyrocketed from various end use sectors, especially pharmaceuticals. As a ripple effect of short supplies and steep rise in raw material prices, several spot buyers became more flexible towards overseas suppliers due to safeguard their margins.
Asia-Pacific (APAC)
Demand in the Southeast Asian market bolstered from the pharmaceutical sector as the enquiries for Remdesivir injections surged following another deadly wave of COVID is several parts of the region, especially India. Consequently, Triethylamine CFR JNPT (India) prices settled at USD 2328 per tonne in March. Supplies remained tight taking cues from the shortage of key feedstocks, and trade activities were hampered due to the congestion along prime trading routes followed by the steep rise in shipping and freight costs. Inventory level in China depleted as several producers halted their production during the Chinese Lunar New year holidays.
Europe
Supplies in the European region remained sluggish due to the reduced overseas shipments from the USA following bad weather conditions. Besides, hindrance in transportation of key feedstock ammonia and reduced plant operating rate amidst severe cold weather in the Northwestern Europe also impacted the regional supply fundamentals. Demand kept a firm stance in the European market due to the constant offtakes from the downstream pharmaceutical sector. Arbitrage window between the APAC and Europe regions were hampered in the quarter ending due to the Suez Canal blockage.
For the Quarter Ending December 2020
Asia
Post COVID-19 improved industrial activities also supported the demand of Triethylamine across the Asian markets. Demand for Triethylamine from the pharmaceutical sector significantly improved prompting healthy growth in prices. Meanwhile, the prices of feedstock Ammonia and Ethanol were also rising due to strong demand from the agrochemicals and petrochemical industries. Till November, the prices of feedstock raised to its highest which and in December, satisfying supply retreated the price curve back to Q3 levels again.
North America
During Q4 2020, the demand forTriethylamine remained stable and the FOB prices faced slight downward trajectory. The price of Triethylamine in USA went down from USD 1750/tonne (October 2020) to USD 1550/tonne (December 2020), due to stable demand but improved feedstock supply. Amid rising demand of feedstock Ethanol from the sanitizer manufacturing and pharmaceutical sector, supply towards Triethylamine production remained firm. Post pandemic, several Ethanol manufacturing units started their operations, and were trying to push for pre-pandemic sales again. Meanwhile LLC updated about their latest Ammonia manufacturing unit, which is very closed to be completed. This will improve the supply crisis of Ammonia across the region.
Europe
Amid rapid spread of COVID-19 during Q4 2020, industrial activities remained low and hence the shortage of feedstock chemicals elevated the price of Triethylamine. FOB price of Triethylamine in Belgium rose from USD 1740/tonne (October 2020) to USD 1940/tonne (December 2020). The reason behind the rise was lower imports of the feedstock materials and restricted movements amid second wave of COVID-19 infections. The demand of Triethylamine remained firm throughout the quarter.
