During the latter part of January, there was a decrease in the global market price of Triethylamine, a trend that commenced in the second week of the Jan 2024. This decline is primarily linked to the downward movement in Ammonia prices, coupled with a slight increase in Ethanol costs. The market is currently undergoing destocking activities, leading suppliers to adopt a cautious stance toward new inventory accumulation. These pivotal factors have notably impacted the pricing dynamics of Triethylamine in the market.

In the US market, the Pharma sector is experiencing strong performance, while the Agrochemical sector is demonstrating moderate to lower performance, directly impacting the demand for Triethylamine in the production of herbicides, fungicides, and insecticides. The robust growth in the Automobile industry is driving demand for Rubber production, playing a crucial role in increasing the overall demand for Triethylamine. The economic upswing is directly contributing to the acceleration of retail consumption, aligning with the rise in Purchasing Manufacturing Index (PMI) data.

The Asian market prominently leads the global Triethylamine business, with demand from the Pharma and Agrochemical sectors remaining subdued. The Dyes and Pigments sectors are experiencing a moderate to low performance. Major producers are currently facing a situation of destocking, resulting in marginal production rates and significant margin pressures. Suppliers are grappling with excessive inventories, leading to an ongoing destocking trend in the Triethylamine market. These dynamics have notably influenced the price of Triethylamine, driving it to the lower side. As of the last week of January, from the 2nd week of January, the price of Triethylamine stood at 1940 USD/MT FOB-Qingdao, reflecting a decline of 1.02%.

The European economy is currently facing challenges, particularly with lower performance in the Agrochemical, Dyes and Pigments, and Pharma sectors. Geopolitical tensions in the European region, particularly in the Red Sea, have significantly disrupted the supply chain across these regions. Many companies are rerouting their routes, causing a surge in freight charges. The overall lower performance in the downstream market, coupled with supply chain dynamics, has created an imbalance in the supply and demand dynamics, influencing the price of Triethylamine in the European region.

According to ChemAnalyst's forecast, the price of Triethylamine is expected to experience a moderate increase in the US market, driven by a positive outlook in sectorial performance. On the other hand, a stable to declining trend is anticipated in the Asian region due to supplier activities involving the destocking of inventories. Despite expectations of improvement in the downstream market, the feedstock market is also favouring a moderate to lower side run in the Triethylamine price in the upcoming sessions.