- Growing use of high purity MTBE in various end-user industries such as pharmaceutical, agrochemical, and cosmetics is likely to generate lucrative avenues in the global high purity MTBE market during 2020-2030.
- The North America high purity MTBE market is likely to gain promising expansion avenues in upcoming years.
ALBANY, N.Y., May 12, 2021 /PRNewswire/ -- High purity methyl tertiary butyl ether (HP MTBE) refers to a colorless clear liquid that holds around 99.7%-99.9% purity level. While the liquid gives sturdy solvating power, the superior purity content of this liquid helps improve the product quality. High purity MTBE shows solubility in numerous hydrocarbons including alcohol and ketones.
High purity MTBE is gaining traction, as it is safe for handling and storage. It is widely utilized as a replacement of solvents such as isopropyl ether, tetrahydrofuran, and diethyl ether. Owing to this factor, the global high purity MTBE market is likely to gather prodigious sales avenues in the assessment period of 2020 to 2030.
Analysts at TMR highlight that the global high purity MTBE market will expand at a CAGR of ~ 7% throughout the assessment period 2020-2030. This suggests that the market will gather the valuation of over US$ 100 Mn by the end of forecast period i.e. 2030.
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High Purity MTBE Market: Key Findings
- Players Focus on Maintaining Superior Product Quality
Key enterprises in the global high purity MTBE market are growing efforts to offer superior quality products using the technique of process consistency. Thus, they are successfully developing superior purity MTBE that provides low water solubility for effectual solvent recovery. Over the period of past few years, there is considerable growth in demand for MTBE that can maintain their stability under acidic conditions.
- Enterprises Follow Safety and Environmental Regulations to Boost Their Credibility Credentials
Major players in the global high purity MTBE market are pouring efforts to comply with all the government regulations pertaining to environment and safety. With this strategy, the market enterprises are boosting their credibility credentials. Moving forward, many companies in this market are focused on the production of MTBE with a capability to resist hazardous peroxides formation.
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High Purity MTBE Market: Growth Boosters
- High purity MTBE is extensively utilized as a dissolution agent in various pharmaceutical applications. Owing to its high purity, it is widely utilized for analytical purposes in chemical intermediate applications. This suggests that the global high purity MTBE market will gather promising sales avenues owing to increased use of high purity MTBE in the worldwide pharmaceutical industry.
- Over the period of past few years, the biomedical sector is experiencing increased technological advancements. This factor is likely to work in favor of the high purity MTBE market in the upcoming years. Moving forward, the market is likely to gain lucrative avenues on the back of growing use of high purity MTBE in agrochemicals.
- High purity MTBE finds application in enhancing the solvency power of chemicals used in the production of agrochemicals. This aside, it is also used in cosmetic applications in order to offer fragrance to various cosmetic formulations. On the back of all these applications, the global high purity MTBE is expected to expand at prodigious pace in the forthcoming years.
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High Purity MTBE Market: Competitive Landscape
This section of the report profiles important participants working in the high purity MTBE market. Thus, it provides detailed data and deep analysis of many important aspects such as important product offerings, financials, strategies, and recent developments of market enterprises.
Some of the key players covered in this report on the high purity MTBE market include:
- Vinati Organics Limited
- Evonik Industries AG
- Monument Chemical
- DOR Group
- Honeywell International Inc.
- LyondellBasell Industries N.V.
- Loba Chemie Pvt. Ltd.
- Shandong Huachao Chemical Co., Ltd.
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