by 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 organic compound that is highly soluble in water and used as an absorbent in gas sweetening and acid gas treatment processes. It is non-volatile, non-toxic, and thermally stable. MDEA selectively removes hydrogen sulfide, carbon dioxide and other acid gases from hydrocarbons or natural gas. It helps prevent corrosion and provides safety during natural gas transportation and storage. With growing natural gas fractionation and increasing demand for cleaner fuels, the need for MDEA is expected to rise significantly over the coming years.
Market key trends:
One of the key trends in the MDEA market is its increasing use in gas sweetening applications. Natural gas fractionation activities are growing rapidly worldwide due to the expansion of domestic natural gas production from shale gas. As natural gas is transported from production sites to distant markets, acid gas removal becomes important to meet product quality specifications and pipeline integrity requirements. MDEA provides an economical and non-polluting solution for natural gas sweetening and is widely accepted in the industry. It is more cost-effective compared to other absorbents like diethanolamine (DEA). Rising demand for natural gas is expected to propel the growth of MDEA consumption over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the N-Methyl Diethanolamine (MDEA) market is low due to high capital requirements for research and development and manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have sufficient alternatives and switching costs are low. However, the fragmented nature of the market limits buyers’ influence over price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate to high. Commodity chemicals composition drives dependency on key raw materials suppliers. However, supplier concentration is relatively low.
Threat of new substitutes: The threat of new substitutes in MDEA market is moderate as MDEA has limited substitutes and has many advantages over substitutes. However, research in new product development can affect this threat.
Competitive rivalry: High as the market is moderately concentrated with global players operating worldwide.
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 for gas sweetening processes.
Regional analysis: North America region holds dominant position in global N-Methyl Diethanolamine (MDEA) market and is expected to grow at a highest CAGR during forecast period owing to growth in oil refining industry and increasing shale gas production in the US. Asia Pacific is the fastest growing region in MDEA market due to rising gas dehydration activities in China and India.
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. The global leaders are focusing on capacity expansions to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
