2-Aminoethanol Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of 2-Aminoethanol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

2-Aminoethanol Price Trend for the Second Half of 2023

Asia

The previous quarter was much better as compared to the third and fourth quarters of 2023 in terms of prices of 2-aminoethanol. A major contributing factor in this downfall of prices was the depreciation of Asian currency and excessive reliance of the downstream industries in this region on imports from North America. In view of unfavorable dynamics, the consumers restricted their spending budgets and adopted a wait-and-see approach, hurting the overall dynamics of 2-aminoethanol price trend. Further, the imbalance of supply and demand prompted the traders to offer discounts on bulk purchases and to significantly lower their profit margins.

Europe

The third quarter bore fruitful results for the 2-aminoethanol market as the prices grew marginally. The uptick in the trend was influenced by the rise in construction activities and substantial improvement in the cement sector. On similar grounds, the advent of the fourth quarter also benefited from the shortage in supply rates and the maintenance shutdown of various production units. Along with this, the rise in the cost of raw materials and increased cost of imports also facilitated the upwards journey of 2-aminoethanol prices.

North America

After experiencing a marginal rise in the 2-aminoethanol prices during the third quarter, the fourth quarter experienced a spike. The major driver of the 2-aminoethanol market in North America was the exponential rise in the cost of feedstock materials and limited manufacturing activities. The growth in demand rate from the downstream automotive, construction, and cosmetics industries throughout the fourth quarter also proved beneficial for the 2-aminoethanol prices.

Analyst Insight

According to Procurement Resource, the price trend of 2-aminoethanol are estimated to continue on a rising trajectory as the activities of the downstream industries are expected to remain favorable.

2-Aminoethanol Price Trend for the First Half of 2023

The 2-Aminoethanol market in H1 2023 was primarily driven by the downstream demands from the cosmetics and agrochemical industries. Feedstock ammonia and ethylene oxide prices also contributed to determining the price trend.

In the Asian market, 2-Aminoethanol witnessed fluctuating price patterns as inventories were oversupplied. As Q1 began, the market posed very few queries. Hence 2-Aminoethanol had a slow start. But soon, demands picked the pace, especially from the self-care/ cosmetics industry in East Asian markets like South Korea. Ethylene Oxide prices jumped, resulting in a rise in overall price trends for 2-Aminoethanol. Declined ammonia prices imparted some balance to the price trends.

The European 2-Aminoethanol market, on the other hand, struggled for most of the first half of 2023. Demands remained bearish, and feedstock prices of ethylene oxide and ammonia were consistently dull. As demands didn’t support the market sentiments, some price rebound was only visible when suppliers cut down on production towards the end of Q2.

American market behaved no differently than the European market for 2-Aminoethanol. Prices here remained low, swinging throughout the said period. Demands were bearish, but it was cheap and ample availability of feedstock ethylene oxide and ammonia that didn’t let the market prices rise. Feedstock prices remained on a declining trajectory throughout H1 2023.

Analyst Insight

According to the Procurement Resource, 2-Aminoethanol prices are projected to continue the same oscillating patterns as the current pricing fundamentals the market will strive for stability. However, market offtakes will continue to be the driving force and will be vital in reviving the dull market sentiments.

2-Aminoethanol Price Trend for Q2, Q3 and Q4 of 2022

The price trends for 2-Aminoethanol/Ethanolamine closely mimicked that of its feedstocks i.e., ethylene oxide and ammonia. Initially, the prices soared drastically owing to the Russian invasion of Ukraine. With the Western sanctions against Russia and supply disruptions in Ukraine, the precious Black Sea exports were missing from the international market. This affected the petrochemical industry worldwide, causing the manufacturers to raise their initial quotation in order to cushion their profits. Hence, amid robust downstream demand, complex logistics, port congestions, and heightened freight charges, the 2-Aminoethanol prices soared.

However, this unprecedented momentum soon fizzled out in the third quarter. High production costs, covid restrictions, supply disruptions and runaway inflation affected the buyer’s confidence in the market and eventually led to demand destruction. In China, the mandatory covid restrictions caused the manufacturers to shut their factory units, however, it did not impact the ethanolamine prices to that extent considering the already contracting market offtakes.

The central banks worldwide with their contractionary monetary policies hiking the interest rates further restricted the consumer’s purchasing power which drastically affected the market dynamics and pricing fundamentals. However, the prices recovered slightly towards the end of the fourth quarter, as the demand rebounded, and various trade restrictions were uplifted. Hence, the price trends for 2-Aminoethanol kept volatile during the mentioned period.

Analyst Insight

According to Procurement Resource, the price trends for 2-Aminoethanol are expected to remain bearish in the coming months given the current industrial activity and market demand. As the world is still reeling under the economic pressure, it will take a certain time for the market to return to its past vigour.

2-Aminoethanol Price Trend for Q1 of 2022

The reaction of ethylene oxide with aqueous ammonia yields monoethanolamine, as well as diethanolamine and triethanolamine. The stoichiometry of the reactants can be used to influence the product ratio. During the first quarter of 2022, the raw material ethylene oxide remained steady.

The ex-factory pricing in North China, South China, Northeast China, and East China was 8,200 RMB/MT, while the ex-factory price in Central China was 8,400 RMB/MT. From a cost standpoint, ethylene was influenced by crude oil price fluctuations, and the price of ethylene in Northeast Asia regularly reached new highs.

It had progressively grown from 1,230 USD/MT at the start of the month to 1,370 USD/MT on March 31st, representing a total gain of 140 USD/MT, or 11.38%. Domestic ethylene prices have also risen to 9,100 RMB/MT, up 3.41% since the first quarter began.

Procurement Resource provides latest prices of 2-Aminoethanol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.