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.
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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