Methyl Tertiary-Butyl Ether (MTBE) Market Estimated for Steady Growth at a CAGR of 4.7% during 2017 to 2026
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According to a recent analytical research report developed by Fact.MR, the global methyl tertiary-butyl ether (MTBE) market will exhibit a value CAGR of 4.7% between the forecast period, 2017 and 2026. Volume sales of MTBE across the globe are estimated to exceed 35,000 thousand tons by 2026-end.
Future Consumption Prospects of MTBE to Remain Steady in Developing Countries
A form of oxygenate derived from isobutylene and methanol, methyl tertiary-butyl ether is blended with gasoline to produce cleaner burning fuels that are used across several developing countries. Although adoption of MTBE for blending with gasoline has been banned in developed countries such as Japan, The U.S., and some parts of Europe, its future consumption prospects are expected to remain steady across developing nations of the Middle East, Mexico, and China. This chemical compound is considered as the second most employed gasoline oxygenates. Albeit methyl tertiary-butyl ether is highly effective as an octane enhancer along with the provision of cost benefits, increasing concerns apropos to groundwater contamination have constrained adoption of MTBE. This has further resulted into rapid replacement of MTBE with ethyl tertiary-butyl ether (ETBE) and ethanol.
4 Key Research Findings from Fact.MR’s Report on MTBE Market
1. Volume sales of methyl tertiary-butyl ether will remain the largest in Asia-Pacific excluding Japan (APEJ), and are poised to account for roughly two-fifth market share by 2026-end. In terms of volume, APEJ is envisaged to endure as the fast-expanding market for MTBE through 2026, followed by Latin America. Presence of numerous vehicles coupled with relatively lenient environmental protection policies will continue to fuel adoption of MTBE in these regions in the foreseeable future.
2. In terms of volume, Oil & gas will continue to be dominant among end-use industries in the global MTBE market. This is mainly because this industrial sector accounts for a large amount of gasoline which in turn creates demand for MTBE as a fuel additive. However, polymer industry and chemical industry are set to record the fastest volume consumption of MTBE through 2026.
3. Based on applications, reformulated gasoline will continue to hold the lion’s share of the market, in terms of volume. Sales of MTBE for application in reformulated gasoline will remain considerably larger than those in solvent and extractant combined.
4. In terms of volume, derivative grade MTBE will remain fast-expanding product in the market through 2026.
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APEJ to Lead Global MTBE Market
In terms of value, Asia-Pacific excluding Japan (APEJ) will continue to lead the global methyl tertiary-butyl market. China and India are major MTBE consumers in the region owing to presence of a large number of vehicles these countries. Additionally, environmental protection policies in APEJ are relatively less stringent, which in turn abodes well for penetration of MTBE in the region. Europe and North America will also prevail as major markets for methyl tertiary-butyl ether, in terms of value. There has been a steady expansion of the refinery sector in these regions since the recent past. Anti-knocking properties of MTBE suits well to reduce wear & tear of the heavy-duty machinery in this sector.
Reformulation of gasoline by using MTBE as a fuel additive, owing to its great oxygen content raising property, has been a trending practice witnessed worldwide. Reformulated gasoline seeks extensive adoption in the marine and oil & gas sector. According to the report, MTBE will witness the largest application in reformulated gasoline during the forecast period.
Oil & gas industry will continue to be the largest revenue contributing end-use industry to the global MTBE market, mainly driven by surging demand for gasoline & its additives in the industry. Based on product type, oxygenating agent will account for the lion’s share of the market throughout the forecast period.
Occupancy of numerous key suppliers is a major factor responsible for the fragmented nature of the global methyl tertiary-butyl ether market. Leading players in the market have prominent geographical presence coupled with enormous production facilities situated in countries including The U.S. and China. Growing demand for MTBE across various end-use industries has intensified the competition among players, compelling them to develop and offer high-quality products at competitive prices.
Key players elucidated in the report include Wanhua Chemical Group Co., Ltd., Huntsman Corporation, Qatar Fuel Additives Company, Petrochemical Corporation of Singapore, Akzo Nobel, BP plc, S.C Carom S.A, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Reliance Industries Ltd., and Petronas Chemicals Group Berhad.
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