by MDEA is a tertiary amine alkaline solvent that is widely used for industrial gas treating applications such as purification and separation of acid gases like carbon dioxide and hydrogen sulfide. These acid gases are generated in flue gases from fossil fuel power plants and natural gas processing plants. MDEA has high chemical and thermal stability making it suitable for removing acid gases at high pressures and temperatures. With the growing focus on reducing greenhouse gas emissions, carbon capture technologies have gained significant momentum which involves separation of CO2 from flue gases using amines like MDEA.
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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for carbon capture and storage technologies from power generation and industrial sectors is a major factor driving the growth of MDEA market. MDEA is used as an intermediate solvent in absorption-based carbon capture plants. With several carbon capture projects coming up globally to reduce carbon footprint, the consumption of MDEA is expected to increase substantially over the forecast period. For instance, Shandong Haihua Group, a Chinese coal company is constructing 13 carbon capture demonstration projects using MDEA technology that are expected to be operational by 2025. This growing demand for MDEA from carbon capture applications is expected to propel the market growth over the next few years.
SWOT Analysis
Strength: MDEA has higher chemical and thermal stability than other amines making it suitable for various end-use applications. It has good regeneration properties and widely used as a solvent in gas treating processes.
Weakness: Stringent environmental regulations regarding VOC emissions may hamper the demand of MDEA. Availability of substitutes like DEA and MEA can also negatively impact the growth.
Opportunity: Growing demand from natural gas processing especially in North America and Asia Pacific due to increasing shale gas production will drive the MDEA market. Increasing use of MDEA as a corrosion inhibitor in various industrial applications also creates new opportunities.
Threats: Fluctuations in crude oil prices affecting upstream capital spending can impact the demand from oil & gas industry. Supply disruptions due to geopolitical issues pose threats to steady growth.
Key Takeaways
The Global N-Methyl Diethanolamine (MDEA) Market Size is expected to witness high growth over the forecast period due to increasing requirement from natural gas processing industry. 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 10.% over the forecast period 2023 to 2030.
Regional analysis comprises
North America is the largest as well as fastest growing regional market for MDEA driven by significant rise in natural gas production from shale reserves. Surging demand for cleaner fossil fuels like natural gas has propelled the requirements of processing equipment’s and chemicals including MDEA. Asia Pacific is also projected to exhibit high growth on account of increasing natural gas consumption in major economies of China and India coupled with expansion of gas processing facilities.
Key players related content comprises
Key players operating in the N-Methyl Diethanolamine (MDEA) market are Dow, BASF SE, Eastman Chemical Company, Huntsman Corporation, INEOS Group Ltd., Sintez OKA Group. These major companies are focusing on capacity expansion and backward integration to strengthen their position and meet the rising demand from end-use industries globally.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
