Methyl tertiary butyl ether (MTBE) market is expected to witness significant growth over the next six years on account of its increasing consumption as a fuel additive in gasoline engines. In addition, the demand for MTBE is expected to grow as it improves the octane number of fuel, reduces harmful emissions and provides good anti-knocking properties to the engine. In addition, the growing automobile industry in Asia Pacific mainly Japan, China and India is expected to drive demand for MTBE over the next six years.
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Moreover, rising demand for gasoline and its additives in oil & gas and marine sectors is expected to propel market growth over the forecast period. Furthermore, Brazil is expected to be a potential market for MTBE on account of growing refinery sector in the country. Furthermore, Middle Eastern market is likely to exhibit substantial growth due to high gasoline quality requirements. However, stringent regulations regarding ground water contamination owing to gasoline leakages containing MTBE is expected to restrain market growth over the next six years.
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Growing demand for MTBE in medical applications such as treatment of gallstone problems is further expected to boost market growth. In addition, refining companies prefer using MTBE as a fuel additive due to its economic viability and excellent blending properties. This is further expected to fuel it’s the demand for MTBE over the forecast period. Key market players include Huntsman Corporation, SABIC, Zhenhai Refining & Chemical, Panjin Hayen Industrial Group, LyondellBasell Industries, Evonik Industries, Reliance Industries Ltd., and Petronas. SABIC manufactures products which have enhanced anti-knock characteristics along with lower blending density, low vapor pressure and anti – corrosive properties. In March 2012, Evonik Industries launched Bio-MTBE which complies with EU biofuel directives and helps in the reduction of emissions that are hazardous to health and environment.
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