Methyl Tertiary Butyl Ether (MTBE) Market Outlook 2031:
The global methyl tertiary butyl ether (MTBE) market size was valued at USD 18.99 Billion in 2022 and is projected to reach USD 28.96 Billion by 2031, expanding at a CAGR of 4.8% during the forecast period 2023 - 2031. The growth of the market is attributed to the easy availability of MTBE coupled with the low cost of the compound.
MTBE is a flammable liquid that helps in producing an unleaded gasoline for the fuel of the cars. It increases the oxygen and octane level in gasoline and reduces the carbon dioxide emission to avoid air pollution.
MTBE is a relatively volatile chemical compound and moderately soluble in water. Therefore, the inhalation of the compound can cause irritation in the nose and throat.
The chemical compound is produced with the help of hydrocarbons containing isobutylene. According to Independent Commodity Intelligence Services (ICIS), over 90% of MTBE production is used in gasoline as oxygenating and a booster for octane. MTBE is more preferable than ethanol owing to its transportability and it also provides superior performance.
Methyl Tertiary Butyl Ether (MTBE) Market Trends, Drivers, Restraints, and Opportunities
- Rapid industrialization is expected to drive the market growth.
- Decreasing emission of diesel due to the utilization of MTBE can accelerate the market growth.
- The COVID-19 outbreak has reduced consumption of gasoline has declined the demand for MTBE in the market. However, the relaxation in the restrictions amidst the COVID-19 pandemic is expected to spur the growth of the market.
- Trade barriers in the export and import of MTBE due to government policies can hinder the growth of the market.
- Rapid growth of the electric vehicle (EV) industry can create challenges for the market growth.
- Increasing number of refineries in emerging economies, such as India and China, is expected to foster the growth of the market in the projected timeline.
- Technological advancements in the chemical industry can create lucrative opportunities for the market growth.
Scope of the Methyl Tertiary Butyl Ether (MTBE) Market Report
The report on the global methyl tertiary butyl ether (MTBE) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Methyl Tertiary Butyl Ether (MTBE) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Gasoline Additives, Isobutene, Solvent, and Other Applications)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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China Petroleum & Chemical Corporation; SABIC; Enterprise Products Partners L.P.; Evonik Industries AG; and LyondellBasell Industries Holdings BV
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Methyl Tertiary Butyl Ether (MTBE) Market Segment Insights
Gasoline additives segment is expected to accelerate at a rapid pace
Based on applications, the market is segregated into gasoline additives, isobutene, solvents, and other applications. The gasoline additives segment is expected to accelerate at a rapid pace during the forecast period owing to rising uses of MTBE in various industries to curb up the air pollution. However, the other applications segment is anticipated to hold a key share of the market in the coming years.
Asia Pacific is anticipated to constitute a major key market share
In terms of regions, the global methyl tertiary butyl ether (MTBE) market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a major key share of the market during the forecast period. Increasing number of producers in the region extensively involved in expansion and acquisition are driving the regional market growth.
However, the Middle & Africa is anticipated to exhibit a steady growth during the forecast period owing to high temperature of region, which makes it impossible for MTBE to withstand in this region. Therefore, a special means of transportation is required to ship the MTBE, encouraging emerging players to enter the market.
Segments
The global methyl tertiary butyl ether (MTBE) market has been segmented on the basis of
Applications
- Gasoline Additives
- Isobutene
- Solvents
- Other Applications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- China Petroleum & Chemical Corporation
- SABIC
- Enterprise Products Partners L.P.
- Evonik Industries AG
- LyondellBasell Industries Holdings BV
Competitive Landscape
Key players competing in the global methyl tertiary butyl ether (MTBE) market are China Petroleum & Chemical Corporation; SABIC; Enterprise Products Partners LP; Evonik Industries AG; and LyondellBasell Industries Holdings BV.
In June 2020, ARAMCO, an oil company based in Saudi Arabia, completed the acquisition of 70% stake in Saudi Basic Industries Corporation (SABIC).