Monoethanolamine Market

The article discusses the current and future trends in the global market for monoethanolamine and its salts, forecasting a steady growth in consumption and production over the next eight years. Key indicators such as CAGR, market volume, and market value are provided for the period from 2022 to 2030. The article also highlights the consumption, production, import, and export dynamics of monoethanolamine, identifying key countries and players in the market. Detailed analysis of per capita consumption, import and export prices, as well as growth rates for different countries, gives a comprehensive overview of the global market for monoethanolamine.

Market Forecast

Driven by increasing demand for monoethanolamine and its salts worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 725K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $1.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Monoethanolamine And Its Salts

In 2022, consumption of monoethanolamine and its salts decreased by -2.6% to 569K tons for the first time since 2016, thus ending a five-year rising trend. The total consumption volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the maximum volume at 585K tons in 2021, and then declined modestly in the following year.

The global monoethanolamine market value rose modestly to $1B in 2022, increasing by 4.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to see steady growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (70K tons), India (55K tons) and Canada (50K tons), together comprising 31% of global consumption. The United States, Germany, Japan, the UK, Russia, Saudi Arabia, Brazil, Turkey, France and Mexico lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Saudi Arabia (with a CAGR of +17.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($125M), India ($110M) and Canada ($99M) constituted the countries with the highest levels of market value in 2022, with a combined 32% share of the global market. Japan, the United States, the UK, Germany, Brazil, France, Russia, Saudi Arabia, Turkey and Mexico lagged somewhat behind, together comprising a further 36%.

Saudi Arabia, with a CAGR of +18.8%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of monoethanolamine per capita consumption was registered in Canada (1,282 kg per 1000 persons), followed by Saudi Arabia (473 kg per 1000 persons), Germany (377 kg per 1000 persons) and the UK (340 kg per 1000 persons), while the world average per capita consumption of monoethanolamine was estimated at 72 kg per 1000 persons.

In Canada, monoethanolamine per capita consumption increased at an average annual rate of +10.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Saudi Arabia (+15.1% per year) and Germany (+8.0% per year).

Production

World Production of Monoethanolamine And Its Salts

In 2022, global production of monoethanolamine and its salts contracted slightly to 607K tons, which is down by -4.8% compared with the previous year's figure. In general, the total production indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +55.0% against 2012 indices. The growth pace was the most rapid in 2017 when the production volume increased by 13%. Over the period under review, global production hit record highs at 638K tons in 2021, and then contracted modestly in the following year.

In value terms, monoethanolamine production dropped to $949M in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 25%. As a result, production reached the peak level of $1.1B, and then contracted in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (126K tons), Saudi Arabia (95K tons) and China (79K tons), with a combined 49% share of global production.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +36.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Monoethanolamine And Its Salts

In 2022, approx. 334K tons of monoethanolamine and its salts were imported worldwide; growing by 2.5% against 2021. The total import volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 13%. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, monoethanolamine imports soared to $743M in 2022. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 53% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports By Country

The countries with the highest levels of monoethanolamine imports in 2022 were Canada (50K tons), Belgium (43K tons) and India (40K tons), together finishing at 40% of total import. The UK (23K tons) took a 7% share (based on physical terms) of total imports, which put it in second place, followed by China (4.8%) and France (4.6%). The following importers - Germany (13K tons), Japan (11K tons), the Netherlands (11K tons), South Korea (9.6K tons), Italy (8.4K tons), Spain (8.2K tons) and the United States (7.5K tons) - together made up 21% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +22.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($112M), Belgium ($102M) and India ($81M) were the countries with the highest levels of imports in 2022, with a combined 40% share of global imports.

India, with a CAGR of +24.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average monoethanolamine import price stood at $2,224 per ton in 2022, rising by 36% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoethanolamine import price increased by +112.4% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 56%. Global import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Spain ($3,099 per ton), while China ($1,143 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Monoethanolamine And Its Salts

After eight years of growth, shipments abroad of monoethanolamine and its salts decreased by -1.9% to 372K tons in 2022. Overall, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.5% against 2013 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 20% against the previous year. The global exports peaked at 379K tons in 2021, and then dropped slightly in the following year.

In value terms, monoethanolamine exports skyrocketed to $746M in 2022. Over the period under review, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 59%. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

The United States (92K tons) and Saudi Arabia (79K tons) represented the largest exporters of monoethanolamine and its salts in 2022, reaching near 25% and 21% of total exports, respectively. Germany (44K tons) held the next position in the ranking, followed by Belgium (40K tons), China (25K tons) and Sudan (20K tons). All these countries together held near 35% share of total exports. Malaysia (16K tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +46.1%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest monoethanolamine supplying countries worldwide were the United States ($168M), Saudi Arabia ($139M) and Germany ($112M), together comprising 56% of global exports. Belgium, China, Malaysia and Sudan lagged somewhat behind, together comprising a further 25%.

In terms of the main exporting countries, China, with a CAGR of +44.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average monoethanolamine export price stood at $2,006 per ton in 2022, rising by 30% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoethanolamine export price increased by +94.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($2,738 per ton), while Sudan ($676 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform