Indian MTBE capacity to grow at 16.8% CAGR over next 4 years, says GlobalData
Published by Alex Hithersay,
India’s methyl tertiary butyl ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 211 000 tpy in 2017 to 460 000 tpy in 2022, according to GlobalData, a data and analytics company.
The company’s report, ‘Methyl Tertiary Butyl Ether (MTBE) Industry Outlook in India to 2022 - Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants’ reveals that two upcoming projects, Haldia Petrochemicals Haldia MTBE Plant and Nayara Energy Vadinar MTBE Plant with a capacity of 99 000 and 150 000 tpy, respectively are expected to commence their production by 2022.
The largest MTBE plants in India in 2017 were ‘Reliance Industries Hazira MTBE Plant’, ‘Indian Oil Corp. Vadodara MTBE Plant’ and ‘Bharat Petroleum Corp. Mahul MTBE Plant’.
Dayanand Kharade, Oil & Gas Analyst at GlobalData, explains: “Increasing gasoline demand in India is contributing to MTBE capacity additions. The country is expected to double its capacity by 2022.”
Bharat Petroleum Corp. Ltd, Indian Oil Corp. Ltd and Reliance Industries Ltd together accounted for 100% of the MTBE capacity in India in 2017.
The main sector that consumes MTBE in India is gasoline blending. In 2017, this sector accounted for almost 99% of the MTBE demand in the country. During the forecast period, increase in use of gasoline is expected to drive the MTBE market.
The average price of MTBE in India is expected to increase at a CAGR of 4.9% from US$674/t in 2017 to US$858/t in 2022.
During 2008 to 2017, India has been a net exporter of MTBE. According to GlobalData outlook, it is expected to continue on similar trend with exports being higher than imports until 2022.
Imports as percentage of demand in the year 2008 were 31.1%. According to GlobalData forecasts, imports as percentage of demand are expected to increase from 6.3% in 2017 to 8.5% in 2022.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/28122018/indian-mtbe-capacity-to-grow-at-168-cagr-over-next-4-years-says-globaldata/
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