According to a new market report published by Acute Market Reports “Octane Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023,” the octane market was valued at US$ 53.1 Bn in 2015, and is expected to reach US$ 77.2 Bn by 2023, expanding at a CAGR of 5.5% from 2016 to 2023.
Browse the Octane (Ethanol, Methyl Tertiary-Butyl Ether (MTBE), Ethyl Tertiary-Butyl Ether (ETBE) and Methanol Market for Fuel and Fuel Additives and Other Applications - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at https://www.acutemarketreports.com/report/octane-market
Market Insights
Octane rating is a measure of a fuel’s ability to defy knock. The octane necessity of an engine varies with the mechanical and geometric considerations, compression ratio and operating circumstances. Different compounds are added to gasoline to increase the octane number. Some compounds which are added to gasoline include ethanol, MTBE, ETBE and methanol. Among these, ethanol accounted for major share of the market and is expected to increase in the near future. Ethanol can sprint at much superior exhaust gas recirculation rate with superior compression ratios. It has a higher octane rating as compared to petrol which created very fine particulates. The superior the octane rating of fuel the more it is defiant to knocking. Hence, high demand is reported for ethanol in the market. Growing demand for octane from the petroleum industry is expected to boost high growth of global octane market. Methyl Tertiary-Butyl Ether (MTBE) accounted as the second largest market for octane and is anticipated to grow in during the forecast period. Other compound such as Ethyl Tertiary-Butyl Ether (ETBE) and methanol are also expected to experience moderate demand from the market during the forecast period from 2016 to 2023.
Competitive Insights:
Fuel and fuel additives accounted for major share of global octane market in 2015 and is expected to increase in the near future. Growing demand from the petroleum industry has boosted growth of global octane market. High demand for environmental friendly fuel is the major factor contributing to the growth of global octane market worldwide. The rising environmental concerns have led to high demand for fuel with less carbon emissions and fuel’s greater resistance to knocking during combustion. Hence, fuel and fuel additives application is expected to fuel market growth of octane in the near future. Other applications of octane such as solvents, paints & coatings and intermediates are also expected to boost market growth of octane. Gasoline is used for wide range of applications in the end-user industries. It is primarily used as fuel and has very high solvency properties. It is very often used to remove tar, grease, and waxes. It also makes an excellent solvent for cleaning metals parts and tools. Octane is used in gasoline to reduce the flammability, thus leading to high demand in the market.
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