Asia
In Asia, the triethylene glycol market in China saw minimal fluctuations during the first quarter of 2024. Demand dynamics remained relatively stable, but the number of shipments from Asian ports decreased, impacting export profit margins. Further, a slight decrease in inventory and ongoing maintenance in the key manufacturing plants resulted in an overall limited supply of the commodity.
The market also experienced a slowdown due to the Chinese New Year holidays and Spring festivities, which limited downstream industry procurement rates. Additionally, the region's macroeconomic outlook improved at a slower pace, providing only limited support to the triethylene glycol market.
Europe
In Europe, the triethylene glycol market mirrored trends seen in the USA, with Germany experiencing a price surge due to constrained regional supply and increased local demand. International offers declined slightly due to supply chain disruptions from the ongoing Israel-Hamas crisis. However, the rising ethylene oxide prices and increasing crude oil costs added to production expenses.
Logistics struggles, including marine freight disruptions caused by the Red Sea crisis and regional protests, further complicated the supply-demand dynamics. The maintenance shutdowns of key players like the Eastern Petrochemical Company and Yanbu National Petrochemical Company, along with reduced export volumes, led to lower feedstock inventories and higher export prices.
North America
In North America, triethylene glycol prices rose significantly in the first quarter of 2024, driven by heightened downstream demand and tight supply conditions. Major producers such as Dow Chemical, Indorama Ventures, and Lotte Chemical Corporation either shut down production units or reduced operational capacities due to severe cold weather, disrupting supply chains.
Meanwhile, demand from sectors like polyester and antifreeze increased notably, supported by improving macroeconomic indicators. This combination of heightened demand and insufficient feedstock inventory created a significant supply-demand gap, prompting key players to raise product prices.
Analyst Insight
According to Procurement Resource, the price of Triethylene Glycol is expected to incline at a gradual pace in the next quarters as the demand is likely to improve while the production and supply sectors of the market are expected to struggle amid the ongoing changes in global trade.
Procurement Resource provides latest prices of Triethylene Glycol. 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.
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Triethylene glycol (TEG) is a colorless, odorless, and hygroscopic liquid chemically represented as C6H14O4. Known for its high boiling point and low volatility, TEG is primarily used as a dehydrating agent for natural gas and as a solvent in various industrial applications. It is also effective as a humectant, maintaining moisture in products like cosmetics and tobacco. TEG's low toxicity and stability make it suitable for use in antifreeze formulations, air sanitizers, and as a plasticizer in the manufacturing of plastics and resins. Its versatility and chemical properties make it an essential component in multiple industries.
C6H14O4
Natural Gas Dehydration, Air Sanitizers, Solvent, Plasticizer, Polyester Resins
SABIC, Reliance Industries Ltd., Eastman Chemicals, ExxonMobil, The Dow Chemical Company, Sinopec, Clariant, INEOS Group Ltd.
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.
Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
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