Raffinate Market Size, Share to Grow at a CAGR of 4.16% by 2032 | ChemAnalyst

Raffinate Market Size, Share to Grow at a CAGR of 4.16% by 2032 | ChemAnalyst

According to ChemAnalyst report, “Global Raffinate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, The Raffinate market is expected to reach approximately 4600 thousand tonnes in 2032 at an expected CAGR of 4.16% in the forecast period.  The surging demand for Raffinate from major end-use industries, Methyl tertiary butyl ether (MTBE), Secondary butyl alcohol (SBA), Methyl ethyl ketone (MEK), is likely to boost the Raffinate market in the upcoming years.

Raffinate or C4 Raffinate is the residual after the separation of 1,3 Butadiene and 1-Butene from the Mixed C4 stream. Raffinate is a highly flammable compound and is used as a blending additive to produce unleaded gasoline. Raffinate also finds its use as a component in LPG. Raffinate acts a as sustainable and economical source of high-value butylene. Raffinate acts as a raw material to produce a wide range of compounds such as methyl tertiary butyl ether (MTBE), secondary butyl alcohol (SBA), methyl ethyl ketone (MEK), etc. Secondary butyl alcohol (SBA) is a coupling agent in water-reducible coatings and a component in industrial cleaning substances, lubricant additives, and paint removers. Esters of SBA are used in fruit flavours. Secondary butyl alcohol is used in minute amounts as a flavouring and in perfumes and is also employed as a solvent in a wide array of industries.

The global Raffinate market is mainly driven by its application to synthesize Methyl tertiary butyl ether (MTBE). The high effectiveness and cheap 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 with MTBE. With rapid industrialization, the demand for gasoline fuel for heavy-duty vehicles is anticipated to rise, which will most likely fuel the raffinate market in the forthcoming years.

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The Raffinate market is segregated based on end-use, sales channel, and region. 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.

Based on demand by region, Asia Pacific is consuming the majority of the Raffinate market with a consumption of 55% in 2022 and is anticipated to maintain this position till 2032. Increasing consumption of MTBE for gasoline usage which is consumed by the transportation sector in countries including China is driving the demand for Raffinate across the Asia Pacific region. China is a market leader for MTBE, which ultimately drives up the majority of the demand for raffinate.

 “Global Raffinate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, the significant players functional in the Global Raffinate market 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.

“Continuously increasing demand of cheap gasoline blending additives to improve the fuel efficacy is expected to boost the demand of Methyl tertiary butyl ether (MTBE), which employs Raffinate as a feedstock is anticipated to fuel the Raffinate market in the forecast period until 2032. Asia Pacific is leading consumer of Raffinate and owing to robust industrialization and expanding transportation of goods, the demand of gasoline and its additives is anticipated to augment the growth of the Raffinate market in the forecast period.  “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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