by N-methyl diethanolamine (MDEA) is an amine-based solvent widely used in gas treating processes for removal of acid gases like carbon dioxide and hydrogen sulfide from natural gas and refinery gas streams. It is known for low vapour pressure, resistance to oxidation and corrosion, and thermally stable nature. High demand from gas treating industry for removal of impurities from fossil fuels is driving the growth of MDEA market.
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.
MDEA offers excellent chemical and thermal stability, making it suitable for various gas treatment applications in oil & gas industry. It removes acid gases efficiently from sour gas streams at relatively lower temperatures. Growing natural gas production and demand for clean fuels is augmenting the need for gas treatment processes using MDEA.
Key Takeaways
Key players operating in the N-methyl diethanolamine (MDEA) market include 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.
The key opportunities in the market include capacity expansion of MDEA plants near refineries and gas processing units. Rising investments in developing gas pipeline infrastructure will also propel the MDEA demand.
Strong global focus on cleaner energy coupled with increasing natural gas production and LNG trade will drive the expansion of MDEA market across major economies like China, India, Middle East, and North America over the coming years.
Market Drivers
Stringent environmental regulations regarding reduction of CO2 and H2S emissions from oil & gas industry are a key factor driving the consumption of MDEA. It effectively removes acid gases from fossil fuel streams in a cost-effective manner. Growing demand for energy along with emphasis on utilizing abundantly available natural gas resources further augment the need for efficient gas treating processes using MDEA.
PEST Analysis
Political: The regulations regarding the use of chemicals can impact the MDEA Market Share. The environmental laws are getting stringent day by day.
Economic: The global economic growth directly impacts the demand from end-use industries like gas processing, whose growth influences the MDEA market.
Social: The rising awareness towards environmental protection and adoption of green products is positively impacting the market.
Technological: Advancements in gas processing technology help recover more natural gas. New technologies are making MDEA recycling possible, thereby reducing wastage.
Geographical regions of concentration
The Asia Pacific region contributes the largest share to the global MDEA market value owing to high demand from gas processing industries of China, India and other developing countries. North America and Europe are also major regions accounting for sizable market shares due to well-established gas processing activities.
Fastest growing region
The Middle East & Africa region is estimated to witness the fastest value growth during the forecast period owing to rising demand from gas exploration projects and new gas processing facilities coming up in GCC countries and Africa. The ongoing and planned gas infrastructure development is driving the MDEA consumption in this region.
