The global N-Methyl Diethanolamine (MDEA) Market is estimated to be valued at US$ 671.62 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
N-Methyl Diethanolamine (MDEA) is a non-volatile amine solvent that is used primarily for acid gas removal in natural gas sweetening processes and as a solvent in carbon capture technology. MDEA demonstrates fast reaction rates, reduced corrosion rates and thermal stability needed for these industrial gas treatments.
Market key trends:
One of the major market trends is the increasing adoption of carbon capture technologies worldwide to reduce environmental pollution. MDEA plays a crucial role as a solvent in post-combustion carbon capture technology where it helps in the removal of carbon dioxide from flue gases produced by power plants and industrial facilities. Various government initiatives and regulations regarding carbon emissions are also supporting the growth of carbon capture projects, thereby propelling the demand for MDEA. Furthermore, rapid growth in natural gas production activities is augmenting the need for acid gas removal processes using MDEA.
SWOT Analysis
Strength: N-Methyl Diethanolamine (MDEA) has excellent acid gas removal efficiency and loadings capacity. It is non-corrosive in nature and stable at higher temperatures.
Weakness: MDEA has higher regeneration energy requirements and reboiler duty as compared to other absorption liquids.
Opportunity: Increasing shale gas production and rising need to meet emissions norms are expected to boost the demand for MDEA.
Threats: Fluctuations in crude oil prices can impact the profitability of petroleum and refining industries thereby affecting MDEA demand. Strict environmental regulations regarding VOCs emissions pose a challenge.
Key Takeaways
The global N-Methyl Diethanolamine (MDEA) Market Size is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing demand from natural gas processing industry. MDEA plays a key role in removing acid gases from raw natural gas streams and sour gases.
Regional analysis: Asia Pacific region dominated the global MDEA market in 2020 and is projected to maintain its lead during the forecast period. This can be attributed to the rising population, rapid industrialization and surging energy needs particularly in China and India. These countries are undertaking gigantic natural gas processing projects.
Key players operating in the N-Methyl Diethanolamine (MDEA) are DowDuPont Inc., BASF SE, Eastman Chemical Company, Huntsman Corporation, Ineos Group Limited, Amines & Plasticizers Ltd., Sintez OKA Group, Advance Petrochemicals Ltd., Maoming Yunlong Industrial Development Co. Ltd., Nippon Nyukazai Co., Ltd., and Jiangsu Taihu New Materials Holding (Yancheng) Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
