Triethanolamine price trends in 2024 demonstrated a sharp upward trajectory as global supply imbalances, fluctuating raw material costs, and shifting demand across personal care, textile, and chemical industries contributed to substantial year-on-year (YoY) increases. Triethanolamine (TEOA), widely used in detergents, cosmetics, cement grinding aids, and chemical intermediates, remained sensitive to supply-chain constraints and feedstock volatility throughout the year. The pricing data for TEOA 99% CFR NHAVA SHEVA reveals strong growth across the final quarter of 2024, underscoring structural pressures that shaped the market direction.In October 2024, TEOA prices surged to USD 1,204/MT, marking a significant 25% YoY increase from USD 966/MT in October 2023. This rise reflected higher operating costs among producers, elevated prices of key feedstocks like ethylene oxide, and logistical challenges that tightened inventories in some regions. Consumer industries such as personal care and cleaning agents maintained steady demand, further supporting price strength despite broader economic uncertainties.
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Prices continued their upward momentum in November 2024, reaching USD 1,115/MT, a notable 29% YoY jump compared to USD 867/MT in November 2023. This increase was attributed to improved export demand from Asia and the Middle East, while producers faced ongoing cost constraints due to energy price fluctuations. Even though demand growth remained moderate, supply-side limitations helped strengthen pricing during the period. Moreover, planned plant turnarounds in certain regions temporarily tightened availability, giving suppliers more pricing power.
By December 2024, the market recorded another significant rise, with TEOA priced at USD 1,058/MT, representing a strong 31% YoY increase from USD 805/MT in December 2023. While prices dipped slightly from the previous month due to a mild softening in demand from end-use industries entering year-end slowdowns, overall YoY growth remained robust. Manufacturers continued to face challenges regarding raw material procurement and transportation, leading to elevated pricing levels heading into 2025.
Looking ahead, Expert Market Research predicts that triethanolamine prices may remain under pressure in early 2025 due to global oversupply and weakened downstream demand. Increased production in key Asian markets, combined with slower-than-expected growth in end-use sectors, may contribute to downward price adjustments. Additionally, the market may undergo volatility depending on shifts in feedstock costs and global economic conditions.
Despite the anticipated early-2025 pressure, long-term demand for triethanolamine remains supported by its expanding use in home care, industrial applications, and cosmetics. Market participants are advised to monitor feedstock trends, production expansions, and trade flows as the key variables likely to shape pricing through 2025.