High Purity MTBE Market
High Purity MTBE Market (Application: Agriculture, Pharmaceutical, Cosmetics, Food, Chemical Intermediate, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Food and Pharmaceutical Sectors Help Recover Global Economies during COVID-19 Pandemic
The COVID-19 (coronavirus) crisis is playing out its impact on the world economy. Companies such as LyondellBasell— a Dutch-domiciled multinational chemical company is maintaining steady supply chain routes in Latin America and Asia. As such, governments are realizing the importance of international trade to recover economies.
Manufacturers in the high purity MTBE market are challenged with partial operation activities in regions with high COVID-19 cases such as the U.S., Europe, India, and Russia. Moreover, a demand shortage is another hurdle, which is impeding growth in the high purity MTBE market. Hence, manufacturers are catering to essential industries such as pharmaceutical, food, and agricultural applications to revive market growth. They are paying special attention to critical clients in the pharmaceutical sector, since healthcare facilities have been already compromised with volatility in the supply of products.
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Extreme Versatility of MTBE Highly Preferred in Cosmetics and Pharmaceutical Applications
Propane and butane are emerging as key raw materials to produce high purity MTBE. These raw materials are being upgraded to manufacture industry-leading innovative products. For instance, Lummus Technology— a licensor of proprietary petrochemicals, refining, and gas processing technologies, is gaining proficiency in upgrading propane and butane to produce high purity MTBE, isobutylene, gasoline alkylates, and the likes. Manufacturers in the high purity MTBE market are unlocking growth opportunities in fuel additives, organic compounds, and car making applications.
Extreme versatility of high purity MTBE is being preferred in broad applications such as for extractions, crystallizations and Grignard synthesis. For instance, Dor Group— a marketer of methanol and MTBE in Israel, is planning to expand its business in pharmaceutical, cosmetics, and food applications.
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Lucrative Investments in Petrochemical Industry to Fuel Market Growth
The high purity MTBE market is projected to cross a valuation of US$ 100 Mn by the end of 2030. This is evident since manufacturers are tapping into incremental opportunities in biopharma, composites, and petrochemical industries. However, the existing high-purity MTBE rectificating method is prone to high energy consumption. In order to address this shortcoming, manufacturers in the high purity MTBE market are increasing their R&D activities to adopt technology that utilizes catalytic distillation pressure towers for low energy consumption.
Apart from agriculture and pharmaceuticals, manufacturers are increasing their focus in cosmetics and chemical intermediate applications. They are investing in their existing output capacities. For instance, Evonik Industries AG— a German specialty chemicals company, has announced to invest €15 Mn in its C4 production network in Marl, Germany to improve performance intermediates business line for the petrochemical industry.
Meeting Environmental Regulations Crucial for Scaling Business in Agricultural Sector
The high purity MTBE market is expand at a CAGR of ~7% during the forecast period. Manufacturers are increasing the availability of high quality MTBE with the help of process consistency. They are developing high purity MTBE that delivers low water solubility for efficient solvent recovery. There is a growing demand for MTBE, which remains stable under acidic conditions.
In order to boost their credibility credentials, manufacturers in the high purity MTBE market are meeting environmental and safety regulations. They are increasing the availability of MTBE, which resists the formation of dangerous peroxides. Since India is an agricultural economy, manufacturers in the India high purity MTBE market are investing in output capacities for the region to capitalize on value-grab opportunities. As such, manufacturers are scaling their business in fuel additives.
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Companies in the high purity MTBE market have joined the quest to repurpose small-molecule drugs for the treatment of COVID-19. They are focused on creating stable revenue streams in agricultural, pharmaceutical, and chemical manufacturing industries. However, limitations in existing high-purity MTBE rectificating method for petrochemicals are inhibiting market growth. Thus, companies should increase their R&D to adopt the technology that utilizes catalytic distillation pressure towers for low energy consumption. As such, manufacturers are investing in production capacities to increase their portfolio in petrochemical intermediaries. They are increasing the availability of premium quality MTBE that are suitable in reaction, extraction, and recrystallization applications.
High Purity MTBE Market: Overview
- High Purity Methyl Tertiary Butyl Ether (HP MTBE) is a clear colorless liquid with 99.7% to 99.9% purity level. It offers strong solvating power. Its high purity content helps enhance product quality. High purity MTBE is soluble in a wide range of hydrocarbons such as ketones and alcohol.
- High purity MTBE is often used as a substitute for solvents including diethyl ether, isopropyl ether, and tetrahydrofuran. It is safe for storage and handling.
- High purity MTBE is often utilized in diverse applications including agriculture, pharmaceutical, cosmetics, food, and chemical intermediates
- According to Transparency Market Research’s latest research report on the global high purity MTBE market for the historical year 2019 and the forecast period 2020–2030, usage of high purity MTBE in the pharmaceutical sector and increasing application of high purity MTBE in agrochemicals are key factors that are expected to boost the global high purity MTBE market during the forecast period
- In terms of revenue, the global high purity MTBE market is estimated to cross a value of US$ 100 Mn by 2030, expanding at a CAGR of ~7% during the forecast period
Usage of High Purity MTBE in Pharmaceutical Sector: A Key Driver
- Currently, high purity MTBE is extensively employed in the pharmaceutical industry. High purity MTBE is often used as a dissolution agent in pharmaceutical applications. In chemical intermediate applications, it is often utilized for analytical purposes due to its high purity.
- High purity MTBE is a non-chlorinated process solvent, which offers excellent solvating properties for compounds including unsaturated hydrocarbons and steroids. It is highly miscible with most organic solvents.
- Advancements in the biomedical sector are also anticipated to offer lucrative opportunities for high purity MTBE in the near future. A majority of geriatric population resides in Europe and North America and is more prone to diseases. This is expected to drive the demand for pharmaceutical products in the near future.
- Major producers of high purity MTBE, such as Honeywell International Inc. and Monument Chemical, have manufacturing facilities in North America. Manufacturers are focused on the production of high purity MTBE for pharmaceutical and chemical intermediate applications. Manufacturers also emphasize in the development of high purity MTBE for applications in food and cosmetic industries.
Increasing Application of High Purity MTBE in Agriculture Sector
- Based on application, the pharmaceutical segment accounted for a major share of the global high purity MTBE market in 2019. It held 67.30% share of the market in 2019. The segment is expected to maintain its dominance during the forecast period, owing to strong demand for pharmaceutical products and rise in research & development activities in the sector.
- High purity MTBE is used to enhance the solvency power of chemicals that are utilized in the manufacture of agrochemicals in agriculture applications. In cosmetic applications, high purity MTBE is primarily employed to impart fragrance in cosmetic formulations. These factors are estimated to boost the production and consumption of high purity MTBE in the near future.
- High purity MTBE is primarily consumed in the chemical industry for formulation of Grignard's reagent, low-cost solvents in some organic synthesis, etc., which in turn is expected to drive the demand for high purity MTBE in the near future
High Purity MTBE Market: Competition Landscape
- Detailed profiles of providers of high purity MTBE have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global high purity MTBE market are
- Evonik Industries AG
- Vinati Organics Limited
- DOR Group
- Monument Chemical
- LyondellBasell Industries N.V.
- Honeywell International Inc.
- Loba Chemie Pvt. Ltd.
- Shandong Huachao Chemical Co., Ltd.
High Purity MTBE Market:Key Developments
- Key providers of high purity MTBE, such as Evonik Industries AG, Vinati Organics Limited, DOR Group, and Monument Chemical, are focusing on the production of cost-effective high purity MTBE to attract more customers. A few other key developments in the global high purity MTBE market are highlighted below:
- Vinati Organics Limited is focused on the upgrade of its existing technologies by using advanced technologies for the production of high quality products
- The company aims to expand its existing business line by investing in business expansion. Additionally, it also aims to deepen its core technologies and strengthen its overseas business due to rapid globalization.
- In the global high purity MTBE market report, we have discussed individual strategies, followed by company profiles of providers of hall-effect sensor systems. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global high purity MTBE market.
High Purity MTBE Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global high purity MTBE market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global high purity MTBE market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global high purity MTBE market would expand during the forecast period of 2020 to 2030.
The report offers intricate dynamics about different aspects of the global high purity MTBE market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global high purity MTBE market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global high purity MTBE market and estimates statistics related to growth of the market in terms of value (US$ Thousand) and volume (Tons).
This study covers a detailed segmentation of the global high purity MTBE market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global high purity MTBE market, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on High Purity MTBE Market
The report provides detailed information about the global high purity MTBE market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global high purity MTBE market, so as to help them design successful strategies and make target-driven decisions.
- Which application segment of the global high purity MTBE market would emerge as major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of pyroxenite?
- What would be the Y-o-Y growth trend of the global high purity MTBE market between 2020 and 2030?
- What are the winning imperatives of leading players operating in the global high purity MTBE market?
- Which application segment is expected to create lucrative opportunities for the global high purity MTBE market during the forecast period?
- Which are leading companies operating in the global high purity MTBE market?
Research Methodology – High Purity MTBE Market
The research methodology adopted by analysts for compiling the global high purity MTBE market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global high purity MTBE market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global high purity MTBE market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global high purity MTBE market.
High Purity MTBE Market – Segmentation
TMR’s research study assesses the global high purity MTBE market in terms of application and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global high purity MTBE market.