Diethanolamine Market

The article discusses the growth projections for the global diethanolamine market from 2022 to 2030, with a forecasted CAGR of +3.0% in volume and +4.3% in value. Consumption, production, imports, and exports of diethanolamine and its salts are analyzed, highlighting key countries and trends in the market. It provides insights on consumption patterns, production volumes, import and export statistics, as well as pricing trends over the past decade.

Market Forecast

Driven by increasing demand for diethanolamine and its salts worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 385K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $553M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Diethanolamine And Its Salts

In 2022, consumption of diethanolamine and its salts decreased by -5.4% to 303K tons, falling for the second consecutive year after three years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at 329K tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global diethanolamine market size shrank slightly to $395M in 2022, stabilizing at 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $410M in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (75K tons), the United States (56K tons) and Thailand (21K tons), together comprising 50% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +43.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($85M), the United States ($79M) and Thailand ($25M) appeared to be the countries with the highest levels of market value in 2022, with a combined 48% share of the global market.

Thailand, with a CAGR of +40.6%, 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.

The countries with the highest levels of diethanolamine per capita consumption in 2022 were Sweden (653 kg per 1000 persons), Belgium (510 kg per 1000 persons) and Malaysia (439 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Thailand (with a CAGR of +42.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Diethanolamine And Its Salts

In 2022, production of diethanolamine and its salts decreased by -0.5% to 307K tons, falling for the second year in a row after six years of growth. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 2.7%. Over the period under review, global production attained the maximum volume at 309K tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, diethanolamine production shrank to $332M in 2022 estimated in export price. Over the period under review, production recorded a slight downturn. The growth pace was the most rapid in 2021 with an increase of 14%. Global production peaked at $410M in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Production By Country

Saudi Arabia (119K tons) remains the largest diethanolamine producing country worldwide, accounting for 39% of total volume. Moreover, diethanolamine production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Germany (45K tons), threefold. The third position in this ranking was held by Belgium (40K tons), with a 13% share.

In Saudi Arabia, diethanolamine production expanded at an average annual rate of +1.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Germany (+0.3% per year) and Belgium (+0.4% per year).

Imports

World Imports of Diethanolamine And Its Salts

Global diethanolamine imports shrank to 272K tons in 2022, with a decrease of -4.2% on 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.7% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 17%. As a result, imports attained the peak of 308K tons. From 2021 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, diethanolamine imports rose notably to $349M in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 23%. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports By Country

In 2022, China (75K tons) and the United States (66K tons) were the key importers of diethanolamine and its saltsaround the world, together reaching approx. 52% of total imports. Belgium (20K tons) ranks next in terms of the total imports with a 7.4% share, followed by India (4.7%) and Thailand (4.5%). The following importers - Singapore (6.4K tons), Italy (5.8K tons), Brazil (5.6K tons), the United Arab Emirates (4.7K tons), Turkey (4.6K tons) and Spain (4.5K tons) - each reached a 12% share 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 the United Arab Emirates (with a CAGR of +32.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($96M), China ($75M) and Belgium ($28M) appeared to be the countries with the highest levels of imports in 2022, together comprising 57% of global imports. India, Thailand, Brazil, Italy, Turkey, Spain, Singapore and the United Arab Emirates lagged somewhat behind, together comprising a further 20%.

Among the main importing countries, the United Arab Emirates, with a CAGR of +28.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average diethanolamine import price amounted to $1,282 per ton, growing by 14% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 23% against the previous year. Over the period under review, average import prices reached the peak figure at $1,484 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($1,594 per ton), while Singapore ($863 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Diethanolamine And Its Salts

In 2022, global diethanolamine exports stood at 275K tons, stabilizing at 2021 figures. In general, total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -4.3% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 35% against the previous year. Over the period under review, the global exports attained the maximum at 288K tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, diethanolamine exports surged to $357M in 2022. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +19.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 47% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

Saudi Arabia represented the largest exporting country with an export of around 116K tons, which reached 42% of total exports. Belgium (54K tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Germany (11%) and Malaysia (5.9%). Sweden (12K tons), the United States (10K tons), France (8.4K tons), Singapore (6.5K tons) and Taiwan (Chinese) (4.3K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to diethanolamine exports from Saudi Arabia stood at +25.1%. At the same time, Singapore (+33.6%), Belgium (+4.8%), Taiwan (Chinese) (+4.1%) and Germany (+3.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.6% from 2012-2022. By contrast, Sweden (-1.3%), Malaysia (-1.4%), the United States (-7.7%) and France (-23.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, France and Singapore increased by +35, +3.1 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest diethanolamine supplying countries worldwide were Saudi Arabia ($124M), Belgium ($84M) and Germany ($50M), with a combined 72% share of global exports.

Saudi Arabia, with a CAGR of +22.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average diethanolamine export price amounted to $1,297 per ton, growing by 16% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 21%. The global export price peaked at $1,507 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($1,764 per ton), while Malaysia ($1,006 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+21.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform