N-Methyl Diethanolamine (MDEA) Market to reach US$ 865.2 Mn by 2027
N-Methyl Diethanolamine is also known as Methyl Diethanolamine or MDEA with chemical formula CH3N (C2H4OH)2. MDEA is a colorless yellow liquid with ammonia odor. It is used as decarbonizer and sweetening agent in gas synthesis, oil refinery, chemical, and natural gas. The N-Methyl Diethanolamine (MDEA) market is projected to grow substantially over the forecast period attributing to increasing demand for carbon capture and sequestration (CCS) coupled with growing demand for MDEA from oil & gas industry.
Growing textile industry in the region is expected to drive growth of the N-Methyl Diethanolamine (MDEA) market in the region. According to India Brand Equity Foundation, Indian textile industry was valued at US$ 150 billion in 2018 and is expected to reach US$ 250 billion by 2019. Increasing exports is also driving growth of the Indian textile industry. According to same source, India’s textile exports were valued at US$ 39.2 billion in 2018 and is expected to reach at US$ 82.0 billion by 2021.
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The global N-methyl diethanolamine (MDEA) market was valued at US$ 576.3 Mn in 2018, and is expected to register a CAGR of 4.8% in terms of revenue over the forecast period (2019 – 2027), to reach US$ 865.2 Mn by 2027.
Major Keyplayers: DowDuPont Inc., BASF SE, Eastman Chemical Company, Huntsman Corporation, Ineos Group Limited, Amines & Plasticizers Ltd., Sintez OKA Group, Advance Petrochemicals Ltd., Maoming Yunlong Industrial Development Co. Ltd., Nippon Nyukazai Co., Ltd., and Jiangsu Taihu New Materials Holding (Yancheng) Co., Ltd.
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