Global Amines for Natural Gas Market Size To Exceed USD 4.83 Billion by 2033 | CAGR of 7.24%
Category: Chemicals & MaterialsGlobal Amines for Natural Gas Market Size To Exceed USD 4.83 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Amines for Natural Gas Market Size is Expected to Grow from USD 2.40 Billion in 2023 to USD 4.83 Billion by 2033, at a CAGR of 7.24% during the forecast period 2023-2033.
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Browse 210 market data Tables and 45 Figures spread through 220 Pages and in-depth TOC on the "Global Amines for Natural Gas Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Primary Amines, Secondary Amines, Tertiary Amines), By Application (Gas Sweetening, Gas Dehydration, Gas Treatment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/amines-for-natural-gas-market
Amines are organic compounds derived from ammonia (NH3) by substituting one or more hydrogen atoms with alkyl or aryl groups. In the natural gas business, amines, specifically alkanol amines, are used in treatment operations to remove pollutants like CO2, H2S, and other acid gasses from natural gas. Moreover, this involves expanding global energy demand, a gradual transition to cleaner fuels, and increased industrialization in emerging nations. Technological advances in gas extraction and purification, such as amine-based treatments, improve gas quality and efficiency. Other drivers include legislative directives aimed at reducing carbon emissions and moving to an energy mix that does not rely on coal. The growing demand for efficient and low-cost energy supply drives investment in the industry, hence promoting total market growth and innovation. However, natural gas markets face inherent obstacles such as volatile prices, limited infrastructure availability, and too complex regulation. Other barriers to investment and long-term growth in this sector include environmental constraints such as methane emissions and competition from renewable energy resources.
- The tertiary amines segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the product type, the amines for the natural gas market are divided into primary amines, secondary amines, and tertiary amines. Among these, the tertiary amines segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. This is mainly due to their superior performance in gas sweetening procedures. They are more efficient in absorbing CO2 and H2S, which are frequent contaminants in natural gas.
- The gas sweetening segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the projected timeframe.
Based on the application, the amines for the natural gas market are divided into gas sweetening, gas dehydration, gas treatment, and others. Among these, the gas sweetening segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the projected timeframe. Natural gas sweetening removes pollutants like CO2 and H2S, making the gas suitable for transit and utilization.
North America is anticipated to hold the largest share of the Amines for natural gas market over the predicted timeframe.
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North America is anticipated to hold the largest share of the Amines for natural gas market over the predicted timeframe. This is due to the region's large natural gas output, particularly in the United States and Canada, which has been boosted by shale gas extraction technology. This region is also driven by the growing demand for natural gas as a greener energy source, as well as the need for effective gas sweetening and treatment technology.
Asia Pacific is expected to grow at a rapid CAGR of the amines for the natural gas market during the forecast period. This increase is driven by rising demand for natural gas as a cleaner energy source, particularly in China, India, and Japan. Rapid industrialization, urbanization, and energy use within these nations, are accompanied by government measures to reduce carbon emissions.
Major vendors in the global amines for the natural gas market are BASF SE, Dow Chemical Company, Eastman Chemical Company, Huntsman Corporation, INEOS Group Holdings S.A., Air Products and Chemicals, Inc., Arkema S.A., Albemarle Corporation, Clariant AG, Mitsubishi Gas Chemical Company, Inc., Solvay S.A., Taminco Corporation, and Others.
Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In December 2023, ExxonMobil Upstream Research developed new input feed gas conditioning technology for contamination reduction in amine units. Amine solvent foaming is a prevalent issue in gas treatment plants, especially those ahead of LNG manufacturing facilities. This may result in reduced gas throughput, solvent carryover, and, in extreme situations, plant stoppage.
Market Segment
- This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global amines for natural gas market based on the below-mentioned segments:
Global Amines for Natural Gas Market, By Product Type
- Primary Amines
- Secondary Amines
- Tertiary Amines
Global Amines for Natural Gas Market, By Application
- Gas Sweetening
- Gas Dehydration
- Gas Treatment
- Others
Global Amines for Natural Gas Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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