The global gas treating amine market is poised for significant growth, with its value expected to rise from USD 3,234.4 million in 2024 to USD 5,630.5 million by 2034. This robust expansion, driven by a CAGR of 5.7% over the forecast period, underscores the increasing demand for gas treating amines across various industries. The market’s upward trajectory is attributed to the rising need for efficient gas treatment solutions in the oil and gas sector, coupled with stringent environmental regulations mandating the reduction of harmful emissions. As industries continue to seek advanced amine-based technologies for gas purification, the market is set to witness substantial advancements and innovations, further propelling its growth over the next decade.
Monoethanolamine (MEA) remains the top-selling product in the market, holding a volume share of 38.9% in 2024. This is due to its optimal efficiency and cost-effectiveness. On the other hand, a higher CAGR of 6.5% has been predicted for the methyl diethanolamine (MDEA) segment.
Several factors are providing impetus for the growth of the gas treating amine market. These include escalating energy demand, enforcement of stringent environmental regulations, and expanding oil and gas production and exploration activities globally.
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Gas-treating amines play a vital role in various industries by facilitating the purification of natural gas and other gasses. They ensure compliance with quality standards, environmental regulations, and safety requirements, thereby propelling their demand globally.
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. Thus, the expansion of these industries could present lucrative growth opportunities to gas-treating amine manufacturers through 2034.
As energy consumption continues to rise globally, there is a growing need for efficient gas purification technologies to meet demand while minimizing environmental impact. This is putting the gas treating amine industry into the limelight and spurring its growth.
Growing focus on clean energy solutions like natural gas is acting as a catalyst propelling gas treating amine demand. These amines are increasingly used to remove impurities like carbon dioxide and hydrogen sulfide from natural gas.
Key Takeaways from the Report
The global gas treating amine market is forecast to advance at 5.7% CAGR through 2034.
By application, the oil and gas segment will hold a market share of around 42.2% in 2024.
Based on product type, monoethanolamine (MEA) demand is slated to rise at 4.3% CAGR.
East Asia is set to account for a significant share of about 46.8% 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.
“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 an Analyst at Future Market Insights, Inc.
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.
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