Tetraethylenepentamine

# Recent Commodity Market Dynamics, Intelligence, and Forecast Analysis for Tetraethylenepentamine (TEPA)

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## I. Price Trends Overview for the Past Month (Mid-October 2026 – November 12, 2026)

| Date | Manufacturer/Brand | Delivery Location | Specification | Quoted Price (CNY/ton) |
|------|-----------|--------|------|--------------|
| Nov 10 | Shandong Qiangsen Chemical | Zibo, Shandong | 99% Purity | 42,000 |
| Nov 10 | Jiangsu Xile Energy | Jiangsu | 99% Purity | 42,000 |
| Nov 10 | Shandong Jiaming Chemical | Shandong | 99% Purity (Tosoh 200kg/drum) | 45,000 |
| Nov 10 | Shandong Jiaming Chemical | Shandong | 99% Purity | 45,000 |
| Nov 9 | Shandong Qiangsen Chemical | Zibo, Shandong | 99% Purity | 42,000 |
| Nov 9 | Jiangsu Xile Energy | Jiangsu | 99% Purity | 42,000 |
| Nov 9 | Shandong Jiaming Chemical | Shandong | 99% Purity (Tosoh 200kg/drum) | 45,000 |
| Nov 9 | Shandong Jiaming Chemical | Shandong | 99% Purity | 45,000 |
| Nov 4–7 | Shandong Qiangsen Chemical | — | 99% Purity | 42,000 (Stable) |
| Sep 28 | Huntsman/Tosoh | Jinan, Shandong | 99.5% Purity (200kg/drum) | 38,000 |

**Core Characteristics:** Domestic 99% purity TEPA quotes have remained stable at the 42,000 CNY/ton level. Imported brands (Tosoh/Huntsman) maintain a significant premium, with quotes ranging from 45,000 to 55,000 CNY/ton, resulting in a price gap of over 30%.

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## II. In-Depth Analysis of Market Dynamics

1. **Price Trends: Stable with Slight Upside; Widening Divergence Between Domestic and Imported Products**

Over the past month, domestic TEPA (99% purity) prices have been locked at 42,000 CNY/ton, representing a rebound of over 10% from the low of 38,000 CNY/ton for high-purity Huntsman/Tosoh products at the end of September. Shandong Qiangsen Chemical, a service provider for the domestic pioneering new TEPA synthesis process with an annual sales volume exceeding 5,000 tons, has maintained unchanged quotes for several consecutive days, reflecting the rigid support of mainstream domestic prices. Meanwhile, the Tosoh brand quoted by Shandong Jiaming Chemical at 45,000 CNY/ton exhibits a brand premium of 3,000 CNY/ton over domestic products. High-end imported products (such as 99% purity from Hunan Huntsman) previously reached as high as 61,000 CNY/ton, indicating that the price gap between imported and domestic products remains substantial.

2. **Supply Side: Concentrated Production Capacity and High Technical Barriers**

TEPA is not produced in isolation but is a core fraction of polyethylenepolyamine mixtures, requiring precise multi-tower fractional distillation for purification. The separation technology for high-purity TEPA is extremely rigorous, constituting a core industry barrier. Current major domestic producers include Shandong Qiangsen, Shandong Jiaming, and Shandong Layar, with production capacity concentrated in the Shandong region. In 2024, the Chinese TEPA market size reached approximately 1.85 billion CNY, with a five-year compound annual growth rate of 8.3%. The supply side is steadily expanding in response to growing downstream demand.

3. **Demand Side: Stable Traditional Sectors and Emerging Growth Drivers**

- **Epoxy Curing Agents:** As a high-performance epoxy resin curing agent, TEPA has stable demand in electronic potting compounds and heavy-duty anti-corrosion coatings, forming the basic market foundation.
- **New Energy Batteries:** As a key cross-linking component in solid-state/semi-solid-state battery electrolytes, TEPA can construct a three-dimensional network to suppress lithium dendrites. This frontier direction is becoming the most explosive growth pole for demand.
- **CCUS (Carbon Capture and Utilization/Storage):** The high CO? absorption capacity of polyamine structures makes TEPA a candidate material for new carbon capture solvents, with promising potential driven by policy.
- **Eco-friendly Coatings:** Rising demand for water-based coatings and low-VOC products is driving TEPA applications in environmentally friendly materials.

4. **Policy and Costs: Tax Incentives Coexist with Raw Material Pressure**

In 2024, TEPA production enterprises enjoyed a 15% corporate income tax reduction (a 10 percentage point decrease from the standard rate), directly boosting profits through policy dividends. However, raw material costs, high energy consumption in separation and purification, and environmental compliance costs remain hard constraints limiting price declines.

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## III. Analytical Assessment

| Dimension | Assessment |
|------|------|
| **Short-term (1–3 months)** | Prices are likely to remain in a narrow range around 42,000 CNY/ton. Mainstream domestic quotes have been stable for several consecutive days, lacking momentum for a unilateral breakthrough; imported brands will remain high due to exchange rates, logistics, and brand premiums. |
| **Medium-term (3–6 months)** | If the industrialization of solid-state battery electrolytes accelerates, demand for high-purity TEPA will rise structurally, and domestic high-purity product prices are expected to break through 45,000 CNY/ton. Traditional epoxy curing agent demand will provide a stable base. |
| **Long-term (6–12 months)** | The market size is expected to continue growing at over 8%. Global TEPA demand from 2025 to 2031 will continue to expand driven by both new energy and environmental protection. High technical barriers will further increase industry concentration, enhancing the bargaining power of leading enterprises. |

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## IV. Forecasts and Recommendations

1. **Price Forecast:** From Q4 2026 to Q1 2027, the mainstream price range for domestic 99% TEPA is expected to be **41,000–44,000 CNY/ton**, while imported brands will maintain high levels of **45,000–55,000 CNY/ton**. If scaled orders emerge in the solid-state battery sector, high-purity product prices may surge to **over 50,000 CNY/ton**.

2. **Risk Warnings:** Vigilance is required for fluctuations in upstream raw material prices such as ethylenediamine, supply contractions due to tightened environmental production restrictions, and competitive erosion by alternative amine products in certain traditional sectors.

3. **Operational Recommendations:** For downstream purchasers, the current domestic price of 42,000 CNY/ton is a reasonable interval for building positions; it is advisable to moderately lock in medium-to-long-term contracts. For producers, it is recommended to accelerate the layout of high-purity production capacity to seize the first-mover advantage in the new energy sector.