Subject: MRR
Gas Treating Amine Market Valuation to Reach US$ 5,630.5 Million by 2034 Amid Growing Energy Demand and Implementation of Environmental Regulations: Future Market Insights
Rising energy demands and stricter environmental regulations are the key drivers of the gas treating amine market. These amines are essential for purifying natural gas, ensuring it meets pipeline and safety standards. The booming oil & gas industry and growing adoption of natural gas as a clean energy source further fuel market expansion.
NEWARK, Del., April 17, 2024 /PRNewswire/ -- As per the Future Market Insights' latest analysis, the global gas treating amine market value is forecast to increase from US$ 3,234.4 million in 2024 to US$ 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.
Download the Sample PDF report to explore key market insights and trends: https://www.futuremarketinsights.com/reports/sample/rep-gb-19347
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.
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 | US$ 3,234.4 million | ||
Market Value in 2034 | US$ 5,630.5 million | ||
Growth Rate (2024 to 2034) | 5.7 % | ||
Historical Data | 2019 to 2023 | ||
Forecast Period | 2024 to 2034 | ||
Quantitative Units | Value (US$ 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:
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Key Countries Covered |
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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 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 Nikhil Kaitwade (Associate Vice President 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.
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.
Purchase now and gain full access to the Gas Treating Amine Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing ? 'The Way Forward'.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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