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 an amine-based solvent used in gas sweetening process for the removal of acid gas like carbon dioxide and hydrogen sulfide from natural gas and refinery gas streams. It offers advantages like higher capacity and selectivity for absorbing acid gases as compared to other amines.
Market key trends:
One of the key trends driving the growth of N-Methyl Diethanolamine (MDEA) market is its increasing use in carbon capture technology. Carbon capture is gaining importance as a promising technology to reduce greenhouse gas emissions from industries like power generation, cement production, etc. MDEA solvent is widely used for capturing carbon dioxide from flue gases in carbon capture plants. Its efficiency and thermodynamic properties make it suitable for commercial carbon capture applications. Furthermore, the growing focus on reducing emissions and transitioning to cleaner energy is expected to boost the adoption of carbon capture technology, thereby favoring the demand for MDEA over the forecast period.
Segment Analysis
The global N-Methyl Diethanolamine (MDEA) market is dominated by the gas sweetening application segment. MDEA is extensively used in the gas sweetening process for removing acid gases like hydrogen sulfide and carbon dioxide from natural gas and liquefied petroleum gas. It has superior absorption and regeneration characteristics compared to other amines like Monoethanolamine (MEA) which has made it the amines of choice for gas sweetening.
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 gas treatment applications.
Regional analysis
Asia Pacific dominates the global MDEA market and is expected to maintain its leading position during the forecast period. Abundant natural gas reserves and increasing natural gas exploration and production activities in countries like India and China are driving the demand for MDEA in the region.
Key players
Key players operating in the N-Methyl Diethanolamine (MDEA) market 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.
Read More: https://www.ukwebwire.com/n-methyl-diethanolamine-mdea-market-growth-revenue-and-size-outlook/
Comments
0 comment