In Q1 2024, prices of monoethanolamine in major exporting countries like Saudi Arabia, China and countries in APAC, Middle east and European region was increased around 3-4% as compared to Q4 2023 in APAC, Middle east and European region. This increase was attributed to several factors, including higher prices for raw materials, particularly Ethylene Oxide and ammonia, as well as logistics and transportation challenges. The bullish price trend is also witnessed from the major importing countries including India and UAE. This rise was majorly driven by rise in the freight charges and other transportation cost.
In Q2 2024, Monoethanolamine prices in Middle east and APAC Region market fluctuated around 4-5% compared to Q1 2024. This fluctuation was caused by disruption in the demand and supply of Monoethanolamine in the automotive, agricultural and textile industries. Similar fluctuations were also observed in various regions of the APAC market.
In Q3 2024, Monoethanolamine prices in Mid east and APAC Region market showed downward trend as compared to Q2 2024. This downward trend may caused because of increased production capacity, low raw material cost & other global economic factors. These factors, individually or in combination, can contribute to a decrease in monoethanolamine prices in the market.
The price forecast for monoethanolamine (MEA) in Q4 2024 is likely to show an increasing trend, driven by a combination of rising demand from the agricultural and industrial sectors, particularly as economic recovery continues. Supply chain disruptions and potential increases in raw material costs for ethylene oxide and ammonia could further contribute to upward pressure on prices. Additionally, stricter environmental regulations may lead to higher production costs, compounding the price increases. Overall, the interplay between recovering demand and supply constraints suggests a bullish outlook for MEA prices in the upcoming quarter.