Overview:
The Global Methyl Tertiary Butyl Ether (MTBE) Market is projected to grow at a 5% CAGR during forecast period 2018 to 2023.
MTBE is an organic compound that is highly flammable and volatile. It is manufactured by a chemical reaction of methanol with isobutylene. MTBE contains oxygen which, when added to gasoline, enhances the octane rating and helps in reducing emissions. MTBE is widely produced in refinery-based plants, however, significant capital is required for the same. The production of MTBE is also subject to legal and regulatory barriers across the globe owing to health and environmental issues. The major application of MTBE is as a gasoline additive across the globe. MTBE also offers efficient blending properties and helps in the reducing the formation of benzene and formaldehyde in gasoline. Market growth is driven by increasing product demand in the automotive industry as MTBE reduces vehicle emissions and the knocking of engines, thereby, increasing the shelf life of vehicles.
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Segmentation:
The Methyl Tertiary Butyl Ether (MTBE) Market has segmented by manufacturing process, Region, and application.
By manufacturing process, the market has been segmented into steam cracker, fluid liquid cracker, dehydrogenation, and dehydration. Fluid liquid cracker was the largest segment in 2017 and is expected to remain so during the forecast period. The manufacturing process of MTBE is complex and requires significant capital investment. Therefore, the fluid liquid cracker process is used as it is a refinery-based production process that requires comparatively less capital. This manufacturing process is similar to the steam cracker process but is simpler and more economical. The fluid liquid cracker process is extensively used in Asia-Pacific owing to the rising refining capacity in the region, especially in India and China.
Basis on region, the market has been divided into main five regions namely; Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
On the basis on application, the market has been classified as gasoline additive and others. According to MRFR analysis, gasoline additive was the leading segment in 2017 and is projected to show the same trend during the forecast period. The use of MTBE in engines substantially reduces engine damage caused by the insufficient burning of gasoline. Furthermore, MTBE helps in the reduction of emissions from vehicles.
Regional Analysis:
Geographically, the market is separated into Europe, Latin America, Asia-Pacific, North America, and the Middle East & Africa.
The Asia-Pacific was the leading regional methyl tertiary butyl ether (MTBE) market in 2017. The growing adoption of the product in the automotive industry owing to its emission reduction and anti-knocking properties is projected to boost market growth in this region.
North America and Europe are expected to be the other major markets for MTBE during the forecast period. The presence of a developed petrochemicals sector coupled with the growing demand for MTBE as a gasoline additive is projected to drive the growth of these markets.
Key Vendors:
The leading key players in the Global Methyl Tertiary Butyl Ether (MTBE) Market are; Reliance Industries Limited (India), Sabic (Saudi Arabia), Emirates National Oil Company (UAE), QAFAC (Qatar), Gazprom (Russia), Evonik Industries (Germany), Royal Dutch Shell (Netherlands), China National Petroleum Corporation (China), Huntsman International (US), ENI (Italy), LyondellBasell (Netherlands), and Shandong Dongming Petrochemical Group (China).
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