As per the Future Market Insights’ latest analysis, the global gas treating amine market value is forecast to increase from USD 3,234.4 million in 2024 to USD 5,630.5 million by 2034. Global demand for gas treating amines is set to surge at a CAGR of 5.7% between 2024 and 2034.
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.
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.
𝐌𝐚𝐤𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐞𝐝 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬 – 𝐀𝐜𝐜𝐞𝐬𝐬 𝐘𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐈𝐧𝐬𝐭𝐚𝐧𝐭𝐥𝐲! https://www.futuremarketinsights.com/report-sample#5245502d47422d3139323737
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.
Gas Treating Amine Industry Research Scope
| Attribute | Details | ||
| Market Size in 2024 | USD 3,234.4 million | ||
| Market Value in 2034 | USD 5,630.5 million | ||
| Growth Rate (2024 to 2034) | 5.7 % | ||
| Historical Data | 2019 to 2023 | ||
| Forecast Period | 2024 to 2034 | ||
| Quantitative Units | Value (USD million) and Volume (metric tons) | ||
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | ||
| Market Segments Covered | By Product Type:
By End-use:
By Region:
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| Key Coverage in Global Gas Treating Amine Market Research Report |
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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 USD 515.33 million by 2034.
- Sales in China are estimated to total USD 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 Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
𝐓𝐨 𝐆𝐚𝐢𝐧 𝐈𝐧-𝐃𝐞𝐩𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐁𝐫𝐨𝐰𝐬𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.futuremarketinsights.com/reports/gas-treating-amine-market
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.
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
Explore Hydrocarbons, Petrochemicals, and Organic Chemicals Insights: https://www.futuremarketinsights.com/industry-analysis/hydrocarbons-petrochemicals-and-organic-chemicals
About Future Market Insights (FMI)
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