N-Methyl Diethanolamine (MDEA) Market is Anticipated to Witness High Growth Owing to Increasing Demand from Oil & Gas Industry
N-Methyl diethanolamine (MDEA) is a versatile amine-based chemical that is produced by combining N-methylethanolamine and ethylene oxide. It is an important chemical intermediate that finds extensive applications in various end-use industries such as oil & gas, textiles, construction, paints & coatings, personal care, pulp & paper, and pharmaceuticals. MDEA offers superior chemical and thermal stability along with high absorption capacity for acidic gases. It is used as a absorbent in natural gas sweetening and removal of hydrogen sulfide and carbon dioxide from refinery streams, natural gas and in tertiary and quaternary amines.
The global N-Methyl diethanolamine (MDEA) market is estimated to be valued at US$ 91.91 billion in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 to 2030.
Rapid industrialization and growing needs of MDEA as an absorbent in oil & gas industry has been driving the market growth. Strict environmental regulations regarding emission of greenhouse gases is also spurring the demand for MDEA.
Key Takeaways
Key players operating in the N-Methyl diethanolamine (MDEA) market are GlaxoSmithKline plc, Novartis AG, Pfizer Inc., AstraZeneca plc, Boehringer Ingelheim International GmbH, Roche Holding AG, Teva Pharmaceutical Industries Ltd., Bayer AG, Sanofi S.A., Sunovion Pharmaceuticals Inc., Mylan N.V., Cipla Ltd., Grifols S.A., Insmed Incorporated, Arbor Pharmaceuticals LLC. These players are focused on capacity expansion projects and new product launches to strengthen their footprint in the market.
Increasing shale gas production has opened up opportunities for development of various applications of MDEA. Major oil & gas companies are investing in research & development activities to utilize MDEA for carbon capture. Rising natural gas trade between countries also offers scope for global expansion of MDEA market. Key players are strategizing mergers & acquisitions to expand their business across different geographies.
The major market driver for N-Methyl Diethanolamine (MDEA) Market Growth is the increasing demand from oil & gas industry. MDEA finds significant usage in natural gas sweetening process for removal of acidic gases such as hydrogen sulfide and carbon dioxide from natural gas streams before further processing or transportation through pipelines. According to IEA, natural gas demand is expected to rise by 1.6% annually till 2024, driving the consumption of MDEA.
Stringent environmental regulations can act as a market restrain. Manufacturing and disposal of MDEA poses negative impact on the environment due to release of toxic emissions. Regulatory bodies worldwide are tightening norms regarding emissions from manufacturing facilities of MDEA which increases compliance cost for manufacturers.
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