H1 2023: In the Asia-Pacific (APAC) region, Monoethanolamine (MEA) Triazine experienced a price surge post-Spring Festival, attributed to heightened demand from downstream sectors in China, particularly within the gas and oil industries. This increased demand stemmed from stringent regulations and the growing presence of H2S in crude oil, necessitating a greater need for MEA Triazine as a scavenger. The feedstock market also played a contributory role in this heightened demand, as the supply of Monoethanolamine feedstock from Saudi Arabia remained robust, and triazine production in the Chinese market proceeded seamlessly. Collectively, these factors drove an uptick in demand for MEA Triazine, consequently elevating its price throughout the first three months of 2023 in the Asia-Pacific Region. However, April 2023 onwards, the MEA Triazine market experienced a price downturn, influenced by a bearish outlook in the Asia-Pacific region. This decline resulted primarily from the diminished demand in key end-use sectors, notably the oil and gas industry. Additionally, sluggish demand and limited trading activities in overseas markets further contributed to the overall reduction in product cost. MEA Triazine supply in China was curtailed as suppliers anticipated decreased demand from downstream sectors and a rise in inventories. Downstream manufacturers exhibited a moderate demand level, and the Asia Pacific region’s supply remained ample, leading to infrequent and need-based purchases. Although, the prices of upstream chemicals monoethanolamine and formaldehyde remained stable in Asia.
The global MEA Triazine market stood at approximately 880 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.5% during the forecast period until 2032. MEA triazine, also known as hexahydro-1,3,5-tris(2-) derivative of s-triazine, is a widely-used hydrogen sulfide scavenger, with the most prevalent variant being hydroxyethyl)-hexahydro s-triazine (I), or monoethanolamine Triazine.
MEA Triazine is a versatile compound and is utilized across diverse sectors, including oil and gas and industrial applications. MEA triazine, also recognized as monoethanolamine triazine, serves as a crucial multifunctional agent in diverse industries, primarily lauded for its efficiency as a hydrogen sulfide (H2S) scavenger and mercaptan in hydrocarbon streams. In the oil and gas sector, MEA triazine plays a vital role by extensively scavenging hydrogen sulfide, a corrosive and toxic gas, from hydrocarbon streams, ensuring safety and equipment integrity in crude oil production facilities and pipelines. Its efficacy extends to the removal of mercaptans, sulfur-containing compounds, from various hydrocarbon products, a pivotal function in refining processes where the corrosive nature and unpleasant odor of mercaptans are undesirable. MEA triazine's application in crude oil production facilities not only diminishes corrosion but also mitigates operational risks linked to hydrogen sulfide. Beyond the oil and gas domain, MEA triazine finds diverse applications, such as in pharmaceuticals and various industrial processes, where its scavenging properties are invaluable for upholding product quality and averting the adverse effects of sulfur-containing compounds. As MEA triazine continues to showcase its versatility, its strategic incorporation remains integral in maintaining safety, environmental compliance, and operational efficiency across a wide spectrum of industries. On the basis of type, the MEA Triazine is divided into- Desulfurizer and Fungicide.
The escalating demand for oil and gas from various industries is driving the increasing utilization of MEA triazine, underscoring its importance in current industrial practices. The oil and gas industry stands out as a primary driver, relying on MEA triazine as an essential hydrogen sulfide (H2S) scavenger, particularly in regions experiencing heightened exploration and production activities. The demand surge in this sector, crucial for ensuring the safety and integrity of facilities and pipelines, is a prominent factor. Additionally, the increasing focus on environmental and safety regulations acts as a driving force, with stricter standards on emissions and safety prompting a heightened need for effective H2S scavengers like MEA triazine, especially in environmentally conscious regions. Furthermore, the expanding applications of MEA triazine beyond the oil and gas industry contribute significantly to market growth. Its efficacy in removing mercaptans and sulfur-containing compounds finds utility in diverse sectors, including refining processes, pharmaceuticals, and various industrial applications. The positive market outlook is underlined by sustained growth in end-use industries, driven by the rising global energy demand and ongoing commitments to sustainable practices and stringent regulations. MEA triazine's versatility positions it as a valuable solution across different industries, indicating a promising market trajectory marked by sustained demand and the potential for further innovations in its applications. The global MEA Triazine market is anticipated to reach nearly 1230 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of MEA Triazine. The Asia Pacific region dominates MEA triazine consumption due to robust industrial growth, urbanization, and infrastructural development. Key drivers include the expanding oil and gas sector in nations like China, India, and Southeast Asia, where MEA triazine is crucial for hydrogen sulfide scavenging in energy processes. A surge in environmental regulations heightens adoption to meet stringent compliance standards, emphasizing the region's commitment to sustainability. Beyond oil and gas, versatile applications in pharmaceuticals, manufacturing, and refining contribute to widespread MEA triazine demand. The dynamic industrial landscape, coupled with a focus on safety and environmental standards, solidifies the Asia Pacific as the primary MEA triazine consumer, ensuring sustained demand across diverse sectors.
Based on the end-user industry, the global MEA Triazine market is divided into Oil and Gas Industry, Medical Industry, Agriculture, Chemical Industry, Others. However, Oil and Gas Industry dominates the MEA Triazine market and held approximately 32% of the global MEA Triazine market in 2022.
Major players in the Global MEA Triazine market are Eastman Chemicals, Evonik, Stepan, Hexion, Foremark Performance Chemicals, Dow Chemical, Sintez OKA, Baker Hughes, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of MEA Triazine which covers production, demand and supply of MEA Triazine market in the globe.
• To analyse and forecast the market size of MEA Triazine
• To classify and forecast Global MEA Triazine market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of MEA Triazine market in the globe.
To extract data for Global MEA Triazine market, primary research surveys were conducted with MEA Triazine manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global MEA Triazine market over the coming years.
ChemAnalyst calculated MEA Triazine demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce MEA Triazine. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• MEA Triazine manufacturers and other stakeholders
• Organizations, forums and alliances related to MEA Triazine distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as MEA Triazine manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global MEA Triazine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
880 thousand tonnes
Market size Volume in 2032
1230 thousand tonnes
Growth Rate
CAGR of 3.4% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Oil and Gas Industry, Medical Industry, Agriculture, Chemical Industry, Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of MEA Triazine in terms of volume in 2022?
Ans:
The global market size of MEA Triazine had reached approximately 880 thousand tonnes in 2022.
Q2.
Which region is the major consumer of MEA Triazine?
Ans:
Asia Pacific region is the leading consumer of MEA Triazine globally.
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