Japan's METI granted a $3 billion CfD subsidy to ACME-IHI for 228,000 t/y green ammonia exports from India starting 2030. The program reduces price risk for producers and secures offtake by Japanese users, encouraging low-carbon ammonia production and likely stabilizing green ammonia prices in the long run.
Shell received regulatory approval for the Rome Export Pipeline in the Gulf of Mexico, linking to BP's Kaskida oil field. This expands Shell's production infrastructure and could boost future oil output and cash flows, increasing supply capacity.
Asia
The market for 2-Aminoethanol in Asia experienced mixed trends throughout the year, influenced primarily by fluctuations in the key upstream feedstocks, ethylene and ammonia. Subtle demand from downstream applications, particularly in surfactants and textile processing, contributed to the bearish sentiment. Energy costs remained subdued, and purchasing activity was cautious as buyers adopted a wait-and-see approach amid uncertain market conditions.
High inventory levels across major manufacturing hubs limited restocking momentum, keeping market activity muted. While temporary support emerged from planned maintenance at some production facilities in the Middle East, this provided only brief relief without reversing the overall downward trajectory. Supply remained adequate throughout the period, with few disruptions to tighten availability. Import arrivals continued to outpace consumption in key markets, adding to inventory buildup at regional ports and maintaining pressure on pricing levels.
Europe
European markets for 2-Aminoethanol mirrored the weakness observed in Asia, with prices declining due to structural supply-demand imbalances. Overcapacity in the region's upstream ethylene sector created persistent availability, while demand from end-use industries such as agrochemicals and personal care products remained lacklustre. The announcement of facility closures by major producers highlighted ongoing challenges in the region's petrochemical landscape. Many long-term supply agreements came under renegotiation or were not renewed, further weakening contractual demand. Feedstock volatility added complexity, but the dominant factor remained soft fundamentals. Despite scheduled maintenance at several production units that temporarily reduced output, oversupply conditions persisted. Elevated inventories and moderate operating rates kept the market well-supplied, while tepid consumption from derivative sectors limited opportunities for price recovery.
North America
In North America, 2-Aminoethanol prices faced similar headwinds as global markets softened. Weaker domestic demand and ample supply from both local production and imports contributed to the decline. Brief weather-related disruptions along the Gulf Coast in early months caused temporary operational interruptions, but production quickly resumed, adding to existing inventory levels. The market showed some early stabilization during mid-year, supported by maintenance-related supply constraints and steady demand from polyurethane foam manufacturers. However, as production normalized and consumption slowed, prices eased once again. High inventory levels and muted export activity limited upward momentum, while fluctuating crude oil values and inconsistent downstream demand patterns kept pricing range-bound through the latter months.
Analyst Insight
According to Procurement Resource, prices for 2-Aminoethanol are expected to remain under pressure in the near term as supply continues to exceed demand across major regions.
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Asia
The Asian region experienced fluctuating 2-Aminoethanol prices in 2024. The year began positively in Q1, particularly in India, where tight supply conditions and strong demand from personal care and agrochemical sectors drove prices upward. This trend reversed sharply in Q2 as oversupply and subdued demand created significant downward pressure. The same bearish sentiment continued through Q3.
In Q4, despite rising production costs, the market remained under pressure from excess inventory and weak seasonal demand. Chinese manufacturers offering substantial discounts further challenged regional producers, forcing them to reduce prices and operate at lower capacities.
Europe
Europe's 2-Aminoethanol market displayed predominantly bearish trends throughout 2024. Q1 saw notable price declines as demand weakened, particularly from the cleaning products sector, while farmer protests disrupted agricultural chemical demand. The downward trajectory continued in Q2, with stable but subdued demand and sufficient inventories keeping pressure on prices. Q3 provided a temporary uptrend due to rising Ammonia costs and seasonal agricultural demand that strained supply channels. By Q4, the market returned to bearish conditions as production costs decreased and demand remained weak across key sectors. Excess inventory prompted discounting, but low consumer confidence and financial constraints hampered recovery.
North America
In North America, 2-Aminoethanol prices followed a predominantly downward trajectory throughout 2024. Q1 saw price declines due to reduced demand from cleaning products and personal care sectors, coupled with persistent oversupply issues. During Q2, the downward trend intensified as feedstock costs for Ethylene Oxide and Ammonia decreased, further pressuring prices amid weak demand and high inventories.
Q3 provided temporary relief with a brief price recovery, driven by supply constraints from labour strikes and hurricane disruptions. However, the market reverted to bearish conditions in Q4, with limited downstream demand and ample inventories preventing any significant price improvements.
Ethanolamine, also known as 2-Aminoethanol, is an organic chemical molecule. It's a colourless, thick liquid with an ammonia-like odour. A collection of amino alcohols make up the ethanolamines. Its derivatives are abundant in nature, such as lipids, which act as a precursor to a variety of N-acylethanolamines, or NAE, which regulate physiological processes in many animals and plants, including seed germination, plant-pathogen interactions, chloroplast development, and flowering.
C2H7NO
Personal care, Agrochemical production, Gas treatment
Ethanolamine, Monoethanolamine, 2-Hydroxyethylamine
DowDuPont, BASF, Ineos Oxides, Huntsman, Akzo Nobel, Nippon Shokubai, Mitsui Chemicals
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Ethylene oxide is processed with aqueous ammonia to produce 2-Aminoethanol, with by-products diethanolamine and triethanolamine.
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