Analysis of COVID-19 Crisis-driven Growth Opportunities in MTBE Market
Methyl tertiary butyl ether (MTBE) is an octane booster. It is widely used in fuel for gasoline operated engines and as an anti-knocking agent. The applications are fuelling the demand for MTBE in the market. Also, it is used in the generation of pure form of isobutene.
On the other hand, ethanol is being used as an alternative of MTBE as an oxygenate additive. This helps in decreasing the toxicity due to exhaust emissions. Moreover, USA and Canada are banning the use of MTBE for purpose of gasoline blending. These factors are hindering the growth of MTBE market. Advancement in bio-based MTBE is expected to provide lucrative opportunities for expansion of MTBE market.
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Gasoline segment is anticipated to lead in the coming years. As a result of development of new refinery projects starting in the course of given forecast period (2016-2024).
Coming to naphtha, it has wide scale application as an industrial solvent. Some of the main applications of naphtha are in production of gasoline, formulation of cleanser used in household, oil painting, and stain remover. It is also used in gasoline production and as fuel in handheld lighters. Its application in residential sector is a leading factor to push the demand for gasoline naphtha crude MTBE market in the course of forecast period (2016-2024).
Naphtha also plays a major role in the production of polymers, synthetic rubber, and chemical intermediates.
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Rising demand for polymers and plastics due to urbanization is likely to fuel gasoline naphtha crude MTBE market
Naphtha is used in burners, power stoves and more. In 2014, energy and fuel contributed for 25% of the market share. Its application as white petroleum liquid, camp lanterns and stove is likely to drive expansion of market in the given forecast period.
Global Gasoline-Naphtha-Crude-MTBE Market: Overview
The global gasoline-naphtha-crude-MTBE market is witnessing an exponential surge in its valuation, thanks to the swift expansion in the automotive and the aviation industries and the trend is likely to remain so over the next few years.
Gasoline, also known as petrol, is a type of fuel, widely utilized in internal combustion engines, whereas crude is the unprocessed form of petroleum. Flammable liquid hydrocarbon mixtures are termed as naphtha while MTBE is a gasoline additive, which is volatile, highly flammable, and colorless. Although it exists in a liquid form, it is sparingly soluble in water. The main application of MTBE is to increase octane number, and hence, it is mostly used as oxygenate in order to raise the oxygen content of gasoline.
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Companies mentioned in the research report
Some of the major players in the global gasoline-naphtha-crude-MTBE market are China Petrochemical Corp. (Sinopec Group), LyondellBasell Industries (Netherlands), PetroChina Company Ltd. (China), Enterprise Products Partners L.P. (US), Saudi Basic Industries Corp. (Saudi Arabia), Equistar Chemical LP (US), Saudi Arabia Petrochemical Company (UAE), TPC Group (US), Marathon Ashland Petroleum, and Huntsman Corp.
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