Methyl Tertiary Butyl Ether Market by Manufacturing Process, (Steam Cracker, Fluid Liquid Cracker), Application (Gasoline), and Region (North America, Europe, APAC, Latin America, Middle East & Africa) - Global Forecast to 2022
Growing demand for MTBE from APAC countries expected to drive the MTBE market
The global Methyl Tertiary Butyl Ether (MTBE) market is projected to reach USD 18.99 billion by 2022 from an estimated USD 14.99 billion in 2017, at a CAGR of 4.8% between 2017 and 2022. The growing demand for MTBE for gasoline blending, especially from China, Singapore, South Korea, and other countries in the APAC is a major factor fueling the growth of the global MTBE market. Due to rapid economic expansion and increase in foreign direct investments in countries, such as China and South Korea, the MTBE market is expected to witness significant growth during the next five years. The growing demand for MTBE from countries in the APAC is a major driver fueling the growth of the market. Replacement of MTBE by ethanol and ETBE is restraining the growth of the market.
Gasoline is the fastest-growing application segment of the MTBE market
MTBE is extensively used as a gasoline additive to increase the octane rating of the fuel. When used in gasoline engines it enables reduction in the knocking effect that leads to inefficient burning and engine damage. MTBE has been used in gasoline since 1979 due to environmental and health concerns. The use of MTBE as gasoline additive majorly started as a replacement for metallic additives, such as lead and Methylcyclopentadienyl Manganese Tricarbonyl (MMT). The use of MTBE octane improved fuel quality through the phase out of lead, reduction in sulfur, benzene, aromatics, and olefins. The APAC region mostly has emerging economies which are experiencing improving standards of living, which in turn, is driving gasoline consumption in the region.
APAC is projected to be the fastest-growing market for MTBE
APAC is projected to be the fastest-growing market for MTBE. The rising demand for reformulated gasoline is leading to the growth of the MTBE market in APAC. Some of the world’s largest MTBE producers, such as Sinopec (China), China National Petroleum Corporation (China), and Petronas (Malaysia) are headquartered in the APAC region. APAC is the largest importer of MTBE globally. Due to rapid economic expansion and increase in foreign direct investment in countries, such as China and South Korea, the MTBE market is expected to witness significant growth during the next five years.
China led the MTBE market in APAC, accounting for more than half of the demand for MTBE in the region in 2016. It is the largest consumer of MTBE and also has the highest production capacity in the world. The rapid growth of the industrial sector, which is supported by the country’s aggressive policies to fund and drive demand, has resulted in healthy demand for MTBE in the country.
The market figures presented in this report have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
• By Company Type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
• By Designation- C Level- 30%, D Level- 25%, and Others- 45%
• By Region- APAC- 33%, North America- 29%, Europe- 24%, ME&A- 9%, and Latin America (5%)
The report also provides company profiles and competitive strategies adopted by major market players. Various key players profiled in the report are as follows:
• SABIC (Saudi Arabia)
• Evonik (Germany)
• China National Petroleum Corporation (China)
• Huntsman International (US)
• Eni (Italy)
• Sinopec (China)
• LyondellBasell (Netherlands)
• Shell (Netherlands)
• Emirates National Oil Company (UAE)
• Qafac (Qatar)
The report covers the global MTBE market, and the use of MTBE in various applications, such as gasoline and others. It aims at estimating the market size and future growth potential of this market across different segments, such as manufacturing process, application, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall MTBE market and subsegments. This report will help stakeholders better understand the competitive landscape and gain more insights, to better position their businesses and market strategies. The report will also help stakeholders understand the pulse of the market, and provide them information on key market drivers, restraints, challenges, and opportunities.
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