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N-Methyl Diethanolamine (MDEA) Market to Reach US$ 865.2 Mn by 2027
The global N-methyl diethanolamine (MDEA) market was valued at US$ 576.3 Mn in 2018, according to N-Methyl Diethanolamine (MDEA) Market Report, by Product Type (MDEA 95%, MDEA 97%, MDEA 99%, and Others), by Application (Gas Treatment, Analgesics, Epoxy Curing Agents, Fabric Treatment, and Others), by End User (Oil & Gas, Textile, Paint & Coatings, Medical & Pharmaceutical, and Others), and by Region (North America, South America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
The global N-methyl diethanolamine (MDEA) market is projected to reach US$ 865.2 Mn by 2027, exhibiting a CAGR of 4.8% during the forecast period (2019-2027). Growth of end-use industries and increasing usage of methyl diethanolamine in these industries is expected to drive growth of the global N-methyl diethanolamine (MDEA) market over the forecast period.
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The applications of MDEA includes manufacturing of soap emulsifying agent, paraffin emulsion & dyes, softener, and lubricants in textile industry. It is used in synthesis of analgesics in pharmaceuticals and effective catalyst for epoxy resin coating system. Furthermore, methyl diethanolamine purifies natural gas for bulk removal of carbon dioxide and is also used as extracting and scrubbing agent in gas treatment.
Increasing demand for MDEA from oil & gas industry coupled with the expansion of oil & gas industry is projected to upsurge the revenues for global N-methyl diethanolamine market in the near future. For instance, according to International Energy Agency’s report published in June 2018, global gas demand is predicted to grow at an average rate of 1.6% annually, reaching over 4,100 billion cubic meters (bcm) in 2023, increasing from 3,740 bcm in 2017.
However, environmental concerns related to MDEA and development of substitute products for MDEA is expected to restrain growth of the market. Major players are focusing on developing substitute products. For instance, ExxonMobil Catalysts and Licensing LLC and BASF Corporation jointly developed the new amine-based solvent for gas treatment in 2018. Furthermore, companies state that the pilot plant testing of this new solvent demonstrated superior performance characteristics over MDEA formulations.
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Browse 74 market data tables* and 55 figures* on "N-Methyl Diethanolamine (MDEA) Market” - Global forecast to 2027.
Key Takeaways of the Market:
Among application, gas treatment segment held the dominant position and contributed over 50.0% revenue share in the global N-methyl diethanolamine (MDEA) market in 2018. MDEA finds extensive applications in amine gas treatment to remove H2S and CO2 from gases.
MDEA is used as a curing agent for epoxy resins and increasing production of epoxy resins globally is expected to propel demand for MDEA. For instance, according to the report, ‘The Socio-economic Value of Epoxy Resins - Main Findings’ published by Epoxy Resin Committee (ERC) of ‘PlasticsEurope’ in August 2017, the members of the ERC manufacture around 258,000 tons of epoxy resins annually, in Europe. This in turn is likely to generate higher revenue for the market in the near future.
In 2018, Asia Pacific accounted for the largest revenue share of 34.0 % in the global N-methyl diethanolamine (MDEA) market. Increasing crude oil imports in the region will increase refining activities in the region, which in turn is expected to drive growth of the MDEA market. MDEA is used in refineries for removal of sour gases from liquid hydrocarbons such as liquefied petroleum gas (LPG). According to Indian Ministry of Petroleum and Natural Gas Economics & Statistics Division, India imported 213.93 Mn metric tons of crude oil in 2016, which increased by 3.0% to reach 220.43 Mn metric tons by 2017.
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Few of the major manufacturers functioning in the market include 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.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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