Market Overview
Based on the acute analysis conducted by Market Research Future (MRFR),
the global methyl tertiary butyl ether market is predicted to have a lucrative
growth at a rate of 5% during the forecast period (2018–2023).
Growth Factors and Top Barriers
Methyl tertiary butyl ether (MTBE) refers to an organic compound which
is generally produced when isobutene and methanol react with each other with a
catalyst present. It is a highly flammable, colorless and volatile liquid
having a characteristic mild odor. The unique properties that set apart methyl
tertiary butyl ether from other chemicals include low blending vapor pressure,
higher-octane number, distillation properties and high miscibility with
gasoline, which make it ideal as an oxygenating agent in gasoline fuel. Using
MTBE as an oxygenate augments the oxygen content in the fuel, ensuring complete
combustion.
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Compared to other oxygenates, methyl tertiary butyl ether is less
soluble in water without phase separation, vapor pressure, reduced blending
density as well as no corrosion issues. All these properties and attributes
have rendered the compound highly beneficial, giving it an edge over few other
agents. But the increasing preference for alternative compounds will curb the
market growth of methyl tertiary butyl ether to some extent. Nonetheless, the
demand for the compound is set to rise in the coming years. With increasing
government regulations in the developed as well as the developing regions
associated with the mandatory use of oxygenated compounds in gasoline fuel for
ensuring complete combustion and minimizing emissions from vehicles, the market
is expected to benefit immensely.
Besides, the surging consumption of gasoline fuel in marine and also in
oil & gas industry is projected to augment the demand for methyl tertiary
butyl ether over the review period. Another factor driving the market growth is
the rising preference for gasoline fuel that display complete combustion,
followed by corresponding increase in demand for high-octane fuels along with
reduced low exhaust emissions. In addition, elevated production of methyl
methacrylate (MMA), polyisobutylene and butyl rubber, and few other products
around the world are set to be instrumental factors augmenting the demand for
methyl tertiary butyl ether.
Global Top Players
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Shandong
Dongming Petrochemical Group
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China
National Petroleum Corporation
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Huntsman
International
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Sabic
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LyondellBasell
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Evonik
Industries
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ENI
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QAFAC
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Royal
Dutch Shell
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Emirates
National Oil Company
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Reliance
Industries Limited
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Gazprom
Recent News
April 2019
Saudi Aramco (Singapore) has reported that its methyl tertiary butyl
ether’s trading volume is bound to rise at a significant rate, after the
company bought Saudi Basic Industries Corp's petrochemical units. After the
purchase is done, the MTBE capacity of the company is estimated to reach
roughly 2.37 mt/year, touted to be the largest achievement by a single company
in the Asia region.
Market Segmentation
The methyl tertiary butyl ether market is segmented based on
manufacturing process, application, and region.
The types of manufacturing processes mentioned in the report are steam
cracker, fluid liquid cracker, dehydrogenation, and dehydration. Out of these,
fluid liquid cracker was the leading segment in 2017 and will remain at the top
throughout the review period. The surging refining capacity among various
regions across the globe will elevate the position of the segment in the coming
years.
Application-wise, the segments in the global market include gasoline
additive and others. The report states that gasoline additive was the
dominating segment in the year 2017, with further predictions of the segment
growing at the same pace throughout the forecast period. As MTBE helps reduce
the emissions from vehicles, its demand is expected to rise in this application
in the following time frame.
Regional Outlook
Region-wise, the global methyl tertiary butyl ether market is spread
across the key regions of Europe, Asia Pacific, Latin America, North America,
and the Middle East & Africa.
Proving its worth among all the regions in the global market is the
region of Asia Pacific, acquiring the leading position in 2017. With the
increasing adoption of the product, particularly in the automotive industry as
it helps reduce emission and has anti-knocking properties, the market in the
region will be presented with profitable opportunities in the future. Moreover,
lenient policies pertaining to environmental protection along with the cost
effectiveness of MTBE is presumed to buoy the position of the regional market
in the conjectured period.
Furthermore, Europe and North America are projected to other substantial
markets for MTBE over the coming years, on account of the presence of a
well-established petrochemicals sector combined with the augmented demand for
the product backed by its rising use as a gasoline additive.
The market in Latin America is on track to be another successful
venture, as a result of the upcoming refinery sector that makes use of MTBE as
an anti-knocking agent for reducing the wear and tear in heavy-duty machinery.
Plus, the growing production of vehicles and subsequently increasing consumer
base will also be instrumental in the market growth from 2018 to 2023.
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