Heightened levels of uncertainty in the market because responses to COVID-19 continue to develop, economic activity reduced over the past year, the COVID-19 pandemic has caused changes in energy demand and supply. COVID-19 has also affected the automobile industry, the fall in car sales around the globe from nearly 74 million units in 2019 to 64 million units in 2020 because of the lockdown. This affected the methyl tertiary butyl ether market. The markets opening after the relaxation of the lockdown is an encouraging sign.

- Over the mid-term, the major factors driving the growth of the market studied are the increasing demand for use as an anti-knocking agent and as an octane booster in the fuel for gasoline engines, and growing usage in the production of pure isobutene

- On the flipside, ethanol substituting the use of MTBE as an oxygenate additive to reduce the toxicity of exhaust emissions, and its classification as a pollutant and consequent ban of its use in gasoline blending in the United States and Canada serve as major restraints for the market studied.

- Innovation in bio-based MTBE for gasoline is likely to provide opportunities for the market studied, during the forecast period.

Key Market Trends

Gasoline Additives Segment to Dominate the Market Demand

- Methyl tertiary butyl ether (MTBE) is extensively used as a gasoline additive, which is an anti-knocking agent and an octane booster in the fuel for gasoline engines.

- The lower cost and effectiveness of MTBE make it the second-largest gasoline additive type, globally. Besides this, MTBE represents an affordable substitute for toxic fuel components, such as olefins, lead, benzene, and sulfur.

- The demand for MTBE in countries, such as China, India, South Korea, Mexico, and Saudi Arabia, has been
increasing due to increased demand for gasoline from the automotive industry with the growing number of onroad vehicles. This has been leading to an increase in demand for gasoline.

- The consumption of gasoline has fallen by 93.9 million barrels per day in January 2021, down by over 2.8 million barrels per day globally because of COVID-19. But the demand for gasoline would likely rebound by 5.7 million barrels per day to reach around 97.7 million barrels per day for the year 2021 as the economy picks up resulting in the increase in the usage of MTBE.

- Such stringent regulations and the presence of comparatively less toxic and/or eco-friendly substitutes have been affecting the growth of the MTBE market, globally.

- Hence, the aforementioned factor, in turn, are projected to show an impact on the market growth in the coming years.

Asia-Pacific Region to Dominate the Market

- The Asia-Pacific region dominated the global market share. MTBE demand in the region is majorly driven by the increasing gasoline demand.

- The widespread availability of MTBE as a cheap feedstock, coupled with being an attractive substitute to aromatics in gasoline, further drives the growth of the MTBE market in the region.

- Many countries, such as India, China, South Korea, and Indonesia, have been witnessing investments into refineries, in order to increase their production capacity.

- India has consumed around 674 thousand barrels of gasoline per day in the year 2019, while China has consumed around 3.08 million barrels per day in 2019 while the global consumption of gasoline was 24.32 million barrels per day.

- Some of the new investments planned and under consideration such as Phase 2 Petrochemical Project by
S-Oil Corp. at Ulsan, South Korea; a USD 4 billion up-gradation project at Pertamina Balikpapan facility in Indonesia; an ongoing plan of Saudi Arabia and India, regarding the probable USD 44 billion joint venture for the West Coast Refinery and Petrochemical Project in Maharashtra, India; and Saudi Aramco's investment plan in a refinery-petrochemical project in Zhejiang province, China.

- Hence, with the commencement of operations in such refineries, the market is expected to witness robust growth in the coming years.

Competitive Landscape

The MTBE market is moderately consolidated, with few players accounting for a significant portion of the market demand. Some of the major players in the market include China Petroleum & Chemical Corporation, SABIC, Enterprise Products Partners L.P., Evonik Industries AG, and LyondellBasell Industries Holdings B.V., among others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit : https://www.statzyreports.com/report/sr496918/methyl-tertiary-butyl-ether-mtbe-market
Contact Us:
Poojan Dogra
Public Relations Manager
Email : [email protected]
Email : [email protected]
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com