ID: MRFR/CnM/4794-HCR | 100 Pages | Published By Priya Nagrale on March 2023
The global methyl tertiary butyl ether (MTBE) market was valued at USD 14.39 Billion in 2020 and projected to reach USD 18.102 Billion by 2030, at a CAGR of 5% during the forecast period.
$18.102 Billion
5%
Asia-Pacific
2021-2030
Methyl Tertiary Butyl Ether Market Overview The global methyl tertiary butyl ether (MTBE) market was valued at USD 14.39 Billion in 2020 and projected to reach USD 18.102 Billion by 2030, at a CAGR of 5% during the forecast period. MTBE (Methyl Tertiary Butyl Ether) is a highly flammable and volatile chemical molecule. It is made by combining methanol and isobutylene in a chemical process. When added to gasoline, Methyl Tertiary Butyl Ether contains oxygen, which raises the octane rating and reduces emissions. Methyl Tertiary Butyl Ether also has good blending capabilities and aids in the reduction of benzene and formaldehyde production in gasoline. Methyl Tertiary Butyl Ether is frequently manufactured in refinery-based plants, but it requires a large amount of capital. Due to health and environmental concerns, the manufacture of Methyl Tertiary Butyl Ether is also subject to legal and regulatory restrictions around the world. Methyl Tertiary Butyl Ether is primarily used as a gasoline additive all over the world. Increased product demand in the automotive industry is driving market expansion, as Methyl Tertiary Butyl Ether reduces vehicle pollutants and engine knocking, extending car shelf life. Furthermore, the increased demand for gasoline and gasoline additives in the maritime and oil & gas industries is helping to drive market expansion. The fluid liquid cracker category was the largest by the manufacturing process and is likely to stay so during the projection period. Because fluid liquid cracking is a simple and cost-effective method, it is widely used in the manufacturing of Methyl Tertiary Butyl Ether.
Global Methyl Tertiary Butyl Ether (MTBE) Market Share, by Product (%)
Regional Analysis
The market in Asia-Pacific is expected to be the largest and fastest-growing regional market. Increasing automobile production in the region is acting as a major driver for the growth of the market. Additionally, the rising awareness about pollution in the region has augmented the demand for MTBE in gasoline as it restricts the emission of harmful gases. China accounted for the highest production of MTBE in 2017; this is expected to continue during the forecast period.
North America was the second-largest market in 2017 and is expected to maintain its dominance during the review period. The presence of a developed automotive industry and major MTBE manufacturing companies are contributing to the growth of the regional market. However, the increasing restrictions on the use of MTBE owing to environmental and health issues are expected to hinder market growth in the region. The markets in the Middle East & Africa and Latin America are projected to contribute substantially to the global market during the forecast period owing to the growing gasoline requirements in these regions. Moreover, lax regulations for the production of MTBE in the Middle East and Latin America is projected to positively impact market growth.
Segmentation
The global methyl tertiary butyl ether (MTBE) market has been segmented by manufacturing process, application, and region. On the basis of manufacturing process, the market has been segregated into steam cracker, fluid liquid cracker, dehydrogenation, and dehydration. On the basis of application, the market has been segmented into gasoline additive and others. Based on region, the market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players in the global methyl tertiary butyl ether (MTBE) market are Sabic (Saudi Arabia), Evonik Industries (Germany), China National Petroleum Corporation (China), Huntsman International (US), ENI (Italy), LyondellBasell (Netherlands), Royal Dutch Shell (Netherlands), Emirates National Oil Company (UAE), QAFAC (Qatar), Gazprom (Russia), Shandong Dongming Petrochemical Group (China), and Reliance Industries Limited (India).Recent Development
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2030 : Significant value |
CAGR | 4.79% (2021-2030) |
Base Year | 2021 |
Forecast Period | 2021 to 2030 |
Historical Data | 2019Â &Â 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | manufacturing process, application, and region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Sabic (Saudi Arabia), Evonik Industries (Germany), China National Petroleum Corporation (China), Huntsman International (US), ENI (Italy), LyondellBasell (Netherlands), Royal Dutch Shell (Netherlands), Emirates National Oil Company (UAE), QAFAC (Qatar), Gazprom (Russia), Shandong Dongming Petrochemical Group (China), and Reliance Industries Limited (India). |
Key Market Opportunities | The growing demand for gasoline and gasoline additives in the marine and oil & gas industries is also positively contributing to the growth |
Key Market Drivers | Increasing product demand in the automotive industry as MTBE reduces vehicle emissions and the knocking of engines |
The global methyl tertiary butyl ether market is projected to grow at 4.79% CAGR during the review period (2021-2030).
Methyl Tertiary Butyl Ether (MTBE) is a highly flammable and volatile organic compound, which is used a gasoline additive to enhance its octane rating and reduce emissions.
Augmenting demand for gasoline in the marine and O&G industries
Asia Pacific holds the largest share in the global methyl tertiary butyl ether market followed by North America and Europe, respectively.
Evonik Industries (Germany), Sabic (Saudi Arabia), China National Petroleum Corporation (China), ENI (Italy), Huntsman International (US), LyondellBasell (Netherlands), Emirates National Oil Company (UAE), Royal Dutch Shell (Netherlands), QAFAC (Qatar), Shandong Dongming Petrochemical Group (China), Gazprom (Russia), and Reliance Industries Limited (India), are some of the leading players in the global methyl tertiary butyl ether market.