Global N-Methyldiethanolamine Market to Reach US$ 951.59 Million by 2025; Increasing Demand for Gas Sweetening or Amine Gas Treating Process Projected to Drive Market Growth
N-Methyldiethanolamine Market (Product - MDEA 95%, MDEA 97%, MDEA 99%; End use - Oil and Gas, Paints and Coatings, Textile, Medical) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Albany, New York, March 30, 2018 (GLOBE NEWSWIRE) -- In terms of revenue, the global N-Methyldiethanolamine market was valued at US$ 565.61 Mn in 2016. It is anticipated to expand at a stable CAGR of more than 6.0% during forecast period, according to a new report published by Transparency Market Research (TMR) titled “N-Methyldiethanolamine Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. Expansion of the global n-methyldiethanolamine market is driven by the increasing demand for gas sweetening or amine gas treating process along with rising demand in textile, paints, and medical industries, globally. Asia Pacific is a prominent market for N-Methyldiethanolamine and the region accounts for almost two-fifth share of the global N-Methyldiethanolamine market.
Increasing Demand for Gas Sweetening or Amine Gas Treating Process
N-Methyldiethanolamine is a commonly used solvent for treating gases in order to remove H2S and CO2. The process is commonly known as the gas sweetening process, as the odor of the processed product is improved by the absence of hydrogen sulfide. The amine gas treating process is commonly employed in refineries, petrochemical plants, the food & beverage industry, and natural gas processing plants. Gas treating is a major application of N-Methyldiethanolamine. The oil & gas industry accounts for more than 50% demand for MDEA. Expansion of the gas treating segment across the globe is projected to increase the demand of MDEA across the globe. Therefore, the increase in demand for gas sweetening or amine gas treating process is driving the N-Methyldiethanolamine market.
Increasing Demand in Textile, Paints and Medical Industries Globally
Industries such as textile, paints, and medical have witnessed expansion due to the rapid growth in the economies of major countries across the globe. Rise in population and improved standard of living has led to the rise in demand for textile, paints, and medical products. MDEA is commonly utilized as an active substance in fabric softeners and is a good alternative to TEA esterquats. In the paints industry, MDEA can be utilized in the cationic modification of acrylic polymer dispersions. MDEA is utilized in combination with perfluoroalkyl polymers in the production of silicone-based textile finishing agents. Lastly, MDEA is employed as a precursor for certain active substances in the medical industry.
Negative Health Issues Pertaining to N-Methyldiethanolamine
N-Methyldiethanolamine is employed as an intermediate in the synthesis of numerous products. Its unique chemistry has led to its application in multiple areas including coatings, textile lubricants, polishes, detergents, pesticides, and personal care products. N-Methyldiethanolamine is observed to have low toxicity. It does not cause any major side-effect in humans; however, prolonged exposure has been observed to cause serious irritation to the eyes and skin. In industrial settings, N-Methyldiethanolamine is manufactured and handled primarily in closed processes, which limit its exposure. N-Methyldiethanolamine has been listed on the following regulatory agencies; AICS, IECSC, ECHA, EPA, and NFPA. Currently, not many side-effects or toxic effects of N-Methyldiethanolamine have been listed; however, it is likely to be restricted or banned in the future, if any negative health issues are detected. Consequently, the restraint for N-Methyldiethanolamine is medium to low.
MDEA 99% to Dominate the Product Segment of Global N-Methyldiethanolamine Market
N-Methyldiethaolamine market has been segmented based on product, end-user, and region. Based on product, the N-Methyldiethanolamine market can be classified into MDEA 95%, MDEA 97%, MDEA 99%, and others. MDEA 99% is the purest form of MDEA, with no dilutions. The product segment accounted for a major share of the N-Methyldiethanolamine market across the globe in 2016, as the purest form of MDEA is preferred by end-use industries. The oil industry witnesses a demand for the purest form of MDEA for gas treating process. Only the purest MDEA can remove H2S and CO2 during gas treating process. The product is commonly employed in refineries, petrochemical plants, natural gas processing plants, and other industries. Demand for MDEA 95%, MDEA 97%, and MDEA concentration lesser than 95% are observed to account for lesser share of the market. Demand for MDEA is observed to decrease across industries, as the concentration of MDEA decreases
Oil & Gas End-user Segment is anticipated to Dominate N-Methyldiethanoloamine Market
In terms of end user, the global N-Methyldiethanoloamine market can be classified into oil & gas, textile, medical, paints & coatings, and others, which includes personal care, and paper & pulp. The oil & gas segment accounted for more than half of the global n-methyldiethanolamine market owing to the rise in demand for oil & gas products across the globe. N-Methyldiethanolamine is majorly employed in the oil & gas industry for amine gas treating process or gas sweetening. The process is carried out to remove H2S and CO2. The process is majorly employed in refineries and petrochemical plants and also for manufacturing of natural gas. The textile industry is the next major end-user segment of the MDEA market, wherein MDEA is used for textile softening. Demand for high-quality textiles is observed to be on the rise in developing nations owing to the improvement in the standard of living. MDEA manufactured by Huntsman Corporation and Eastman Chemical Company is utilized for textile softening.
Developing Regions such as Asia Pacific Dominate the Global N-Methyldiethanolamine Market
In terms of region, Asia Pacific witnessed high demand for n-methyldiethanolamine products in 2016. The region accounted for almost half of the global n-methyldiethanolamine market. Asia Pacific contains more than half the global population and emerging economies, which a major reason for the high demand for MDEA in the region. International players are also focusing on investment in Asia Pacific. The region consists of India and China, which are major producers and consumers of the product along with the U.S., across the globe. China and India are major importers of MDEA across the globe. Expansion of industries such as paints & coatings, textiles, and oil & gas in Asia Pacific is a major reason for the high demand of MDEA.
North America and Europe followed Asia Pacific, in terms of volume, in 2016. North America and Europe are mature markets for N-Methyldiethanolamine. They provide limited opportunities in terms of untapped potential. Demand for N-Methyldiethanolamine in Canada and Germany is expected to rise at a rapid pace, as these developed countries offer lucrative opportunities for N-Methyldiethanolamine. The N-Methyldiethanolamine market in Latin America held the second major growth rate for N-Methyldiethanolamine market across the globe for the forecast period. Brazil accounted for a key share of the market in Latin America in 2016. The southern states of Brazil are primarily engaged in construction due to the growth in population. The market in Middle East & Africa is expanding at a rapid pace, with GCC leading the demand for N-Methyldiethanolamine. Demand for N-Methyldiethanolamine is estimated to increase in Middle East & Africa, owing to the rise in number of development projects in construction, manufacturing, and oil & gas industries.
High Degree of Competition Exist among Established Players in the Global N-Methyldiethanolamine Market
Key players profiled in the global N-Methyldiethanolamine market include Eastman Chemical Company, The Dow Chemical Company, BASF SE, Huntsman Corporation, Amines & Plasticizers Ltd., and INEOS. Collaborative agreements between the manufacturers and production capacity expansion are the key market strategies opted by the manufacturers of N-Methyldiethanolamine. Eastman Chemical Company, a key player in the N-Methyldiethanolamine market, headquartered in the U.S., has made substantial progress in the N-Methyldiethanolamine business sector by spreading its distribution channel across the globe. In 2017, Eastman Chemical Company announced that it is planning to hike the prices of its amine products, which is anticipated to impact North America and Latin America. The price hikes were effective from October 2017. The company announced a rise in operating cost as the major reason for the price hikes.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact Us
Mr. Apoorv Tripathi Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com Research Blog: http://www.editiontruth.com/
Source: GlobeNewswire
(March 30, 2018 - 6:04 AM EDT)
