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Global Raffinate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032

  • Report

  • October 2023
  • Region: Global
  • ChemAnalyst
  • ID: 5743480

Quick Summary:

In a rapidly globalizing world, the global Raffinate market's significant expansion stands as testament to changing industrial needs. A key determinant of this development is Raffinate's role in the synthesization of Methyl tertiary butyl ether (MTBE) and Secondary butyl alcohol (SBA). Both substances are crucial to diverse sectors, from vehicle fuels to industrial cleaners. Offering both low Reid vapor pressure and a role as a pollution-reducing compound, raffinate offers unmatched utility for versatile applications. Given these salient attributes, it's no surprise that the raffinate market is set for robust growth.

The Asia Pacific region, driven by the rapid expansion of transportation and automobile sectors, is a major hub for raffinate consumption, accounting for approximately 52% of the global market. With the ever-increasing utilization of gasoline-based fuels and MTBE as a fuel additive, demand for raffinate is set to surge in this region. Meanwhile, the Methyl tertiary butyl ether (MTBE) sector adjudged the largest application of raffinate, consumes more than half of the market share and shows potential for further growth alongside the evolution of the petroleum sector. Having a comprehensive understanding of these multi-faceted aspects of the raffinate market is critical to seizing upcoming opportunities and making informed strategic decisions.

The Global Raffinate Market Has Expanded to Reach Approximately 3000 Thousand Tonnes in 2022 and is Expected to Further Expand at a Steady CAGR of 4.16% During the Forecast Period Until 2032

The global Raffinate market has expanded to reach approximately 3000 thousand tonnes in 2022 and is expected to further expand at a steady CAGR of 4.16% during the forecast period until 2032. In March 2022, JG Summit Olefins Corporation (JGSOC) began operating its one and only Butadiene Extraction Plant in the Philippines with the capacity to produce 70 thousand tonnes per annum of Butadiene along with 110 thousand tonnes per annum of Raffinate-1.

Raffinate or C4 Raffinate or C4 residual is the residual product that remains after the separation of 1,3 Butadiene and 1-Butene from Mixed C4 stream. Because of the low Reid vapor pressure, it is preferred to natural gasoline in ethanol or gasoline mixes. Raffinate is majorly used to synthesize Methyl tertiary butyl ether (MTBE), which is a flammable substance. MTBE raises the octane and oxygen content of gasoline and works as a pollution-reducing compound in gasoline. Moreover, raffinate also finds application to synthesize Secondary butyl alcohol (SBA), a coupling agent in water-reducible coatings, industrial cleaners, and paint removers.

Methyl tertiary butyl ether (MTBE) is frequently used in gasoline engine fuel as an octane enhancer and anti-knocking agent. The effectiveness and lower price of MTBE make it a popular gasoline additive in the world. In addition, harmful gasoline components such as olefins, lead, benzene, and sulphur can be replaced at a reasonable cost with MTBE. With rapid industrialization, the demand for gasoline fuel for heavy-duty vehicles is anticipated to rise, which will most likely further fuel the raffinate market in the forthcoming years. The global Raffinate market is anticipated to reach 4600 thousand tonnes by 2032.

As of 2022, the Asia Pacific region dominates the Raffinate market in terms of consumption. this region consumed approximately 52% of the market. This region is anticipated to retain as the highest consumer even in the forecast period owing to the rapidly expanding transportation sector for goods by the means of vehicles which are highly dependent on gasoline and its additives like MTBE. China is a market leader for MTBE, which ultimately drives up the majority of the demand for raffinate. China has the largest vehicle industry and is expected to continue to be so in the future.

Based on the end-use, the global Raffinate market is segregated into Methyl tertiary butyl ether (MTBE), Secondary butyl alcohol (SBA), Methyl ethyl ketone (MEK), and Others. Among these, the production of Methyl tertiary butyl ether (MTBE) is the largest application of raffinate and consumed approximately 55% of the market in 2022. In order to lower emissions from petroleum, MTBE is added to it. With the expansion of the petroleum sector, the MTBE market will most likely experience robust growth.

Significant players in the production of Global Raffinate are Nouri Petrochemical Company, Faravaresh Bandar Imam Co., ONGC Mangalore Petrochemicals Ltd., Buali Sina Petrochemical Co., Braskem, PT Chandra Asri Petrochemical, Tbk, TPC Group, Shell Plc, Reliance Industries Limited, JG summit Olefins Corporation, Basparan Bandar Imam Co, Shimibaft Petrochemical Company, and Others.

Years considered for this report:

  • Historical Period: 2015- 2022
  • Base Year: 2022
  • Estimated Year: 2023
  • Forecast Period: 2024-2032

Objective of the Study:

  • To assess the demand-supply scenario of Raffinate which covers production, demand and supply of Raffinate market in the globe.
  • To analyse and forecast the market size of Raffinate
  • To classify and forecast Global Raffinate market based on end-use and regional distribution.
  • To examine competitive developments such as expansions, mergers & acquisitions, etc., of Raffinate market in the globe.
To extract data for Global Raffinate market, primary research surveys were conducted with Raffinate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, the publisher was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, the report analyzes various segments and projected a positive outlook for Global Raffinate market over the coming years.

The publisher calculated Raffinate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Raffinate across the globe. The publisher sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.

Key Target Audience:

  • Raffinate manufacturers and other stakeholders
  • Organizations, forums and alliances related to Raffinate distribution
  • Government bodies such as regulating authorities and policy makers
  • Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Raffinate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Raffinate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
  • Market, by End-use: Methyl tertiary butyl ether (MTBE), Secondary butyl alcohol (SBA), Methyl ethyl ketone (MEK), and Others
  • Market, by Sales Channel: Direct Sale and Indirect Sale
  • Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.

Table of Contents

1. Capacity By Company
  • On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Raffinate.
2. Capacity By Location
  • To better understand the regional supply of Raffinate by analyzing its manufacturers' location-based capacity.
3. Plant Operating Efficiency
  • To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
4. Production By Company
  • Study the historical annual production of Raffinate by the leading players and forecast how it will grow in the coming years.
5. Demand by End- Use
  • Discover which end-user industry [Methyl tertiary butyl ether (MTBE), Secondary butyl alcohol (SBA), Methyl ethyl ketone (MEK), and Others] are creating a market and the forecast for the growth of the Raffinate market.
6. Demand by Region
  • Analyzing the change in demand of Raffinate in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
7. Demand by Sales Channel (Direct and Indirect)
  • Multiple channels are used to sell Raffinate. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
8. Demand-Supply Gap
  • Determine the supply-demand gap to gain information about the trade surplus or deficiency of Raffinate.
9. Company Share
  • Figure out what proportion of the market share of Raffinate is currently held by leading players across the globe.
10. Pricing Analysis & Forecast
  • Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.