According to the latest analysis, the global gas treating amine market is projected to grow from USD 3,234.4 million in 2024 to USD 5,630.5 million by 2034. The market is expected to experience a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2024 to 2034.
Monoethanolamine (MEA) will remain the top-selling product in the market, holding a volume share of 38.9% in 2024 due to its optimal efficiency and cost-effectiveness. However, the methyl diethanolamine (MDEA) segment is expected to grow at a higher CAGR of 6.5%.
Several factors are driving the growth of the gas treating amine market, including escalating energy demand, stringent environmental regulations, and expanding oil and gas production and exploration activities worldwide.
Gas treating amines play a crucial role in various industries by facilitating the purification of natural gas and other gases. They ensure compliance with quality standards, environmental regulations, and safety requirements, thus driving their global demand.
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The applications of gas treating amines are widespread across industries such as oil and gas, petrochemicals, power generation, pharmaceuticals, and chemical processing. In the oil and gas industry, gas treating amines are used in gas processing facilities to purify natural gas extracted from reservoirs, removing impurities to meet pipeline specifications and regulatory standards.
In petrochemical and chemical processing industries, gas treating amines are employed for gas purification, chemical synthesis, and environmental protection. The expansion of these industries could present lucrative growth opportunities for gas treating amine manufacturers through 2034.
As global energy consumption continues to rise, there is a growing need for efficient gas purification technologies to meet demand while minimizing environmental impact. This is spotlighting the gas treating amine industry and driving its growth.
The increasing focus on clean energy solutions like natural gas is also propelling gas treating amine demand. These amines are increasingly used to remove impurities such as carbon dioxide and hydrogen sulfide from natural gas, supporting the industry’s growth.
Key Takeaways from the Report
- The global gas treating amine market is forecast to advance at 7% CAGR through 2034.
- By application, the oil and gas segment will hold a market share of around 2% in 2024.
- Based on product type, monoethanolamine (MEA) demand is slated to rise at 3% CAGR.
- East Asia is set to account for a significant share of about 8% in 2034.
- India’s industry value is predicted to reach US$ 515.33 million by 2034.
- Sales in China are estimated to total US$ 783.20 million by 2034.
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“The global gas treating amine industry is growing steadily, driven by escalating environmental regulations, high energy demand, and expanding industrial sectors like oil and gas and chemical processing,” – says a lead analyst at Future Market Insights (FMI).
Who is Winning?
Huntsman, Amines & Plasticizers Ltd, Schlumberger SLB, Ineos Oligomer, Axens, Vaisala, Clariant, Shell, Dow, Pall Corporation, and others are the leading manufacturers of gas treating amines profiled in the full version of the report.
Key companies are focusing on expanding their domestic production capacities to meet soaring demand from end-use industries. They are also introducing new technologies as well as employing strategies like partnerships, collaborations, and acquisitions to stay relevant in the market.
Recent Development:
- In June 2020, ExxonMobil and BASF SE introduced a new, highly energy-efficient gas treatment technology called OASE selfexx to selectively remove hydrogen sulfide.
More Insights into the Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global gas treating amine market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on product type, end-use, and region.
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Global Gas Treating Amine Market Segmentation
By Product Type:
- Monoethanolamine (MEA)
- Diethanolamine (DEA)
- Methyl Diethanolamine (MDEA)
By End-use:
- Oil & Gas
- Water Treatment
- Coating
- Textile
- Pharmaceutical
- Chemical Processing
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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