Methyl Tertiary-Butyl Ether (MTBE) is a chemical compound used as a petrol additive. Isobutylene and methanol react chemically to produce it. MTBE is added to petrol to improve engine performance and reduce emissions of harmful pollutants such as carbon monoxide and nitrogen oxides.The global MTBE market is driven by petrol demand and the need for fuel additives to comply with environmental regulations. The Asia-Pacific region consumes the most MTBE, with China and India being the two largest markets. Demand for MTBE is expected to fall in North America and Europe as alternative fuels become more popular and environmental regulations become more stringent.
Sinopec, LyondellBasell, Reliance Industries, ENOC, and Petronas are among the major players in the MTBE market. These companies are investing in R&D to improve the manufacturing process and reduce costs. They are also increasing production capacity to meet rising MTBE demand in emerging markets.
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Key Takeaways from the Study
- Methyl Tertiary Butyl Ether Market was valued at US$ 16.5 Bn in 2021. According to Fact.MR, Methyl Tertiary Butyl Ether Market revenue would increase 1.6X between 2022 and 2032, reaching roughly US$ 25.8 Bn in 2032.
- In terms of the manufacturing process, Fluid Liquid Cracker is projected to account for the highest projected CAGR of over 4.3%.
- In terms of region, North America accounts for the highest CAGR of 3.9% during 2017-21.
- U.S. is the dominant country in Methyl Tertiary Butyl Ether Market with an absolute dollar growth opportunity of over US$ 3.4 Bn.
Competitive Landscape: Top Companies in Methyl Tertiary-Butyl Ether Market
Due to the presence of numerous regional and international players, the global market for methyl tert-butyl ether is extremely competitive and fragmented. Key players in the sector are embracing mergers and acquisitions, expansions, partnerships, and collaborations.
- In 2020, Huntsman Corporation completed the sale of Indorama Ventures, the company’s business in chemical intermediates and surfactants. The company’s capital-intensive asset base is likely to be reduced as a result of this transaction, which will also strengthen its balance sheet and increase flexibility and opportunity for strategic and accretive acquisitions.
- In 2022, Akzo Nobel N.V. completed the acquisition of Grupo Orbis, strengthening the business’ position in Latin America.
Key Companies Profiled