Severer Competition in China MTBE Market
In Q1, 2019, China’s MTBE apparent consumption volume was about 3,282.5kt, up 12.12% Y-O-Y. With the new MTBE units to be put into operation and the ethanol gasoline promotion, it will be tougher for MTBE producers to survive.
According to SCI’s statistics, China’s total MTBE output reached 3,179.2kt or so in Q1, 2019, up 9.17% Y-O-Y. Although the overall operating rate of MTBE units at independent refineries remained largely stable, the MTBE supply went up, as the overall MTBE capacity increased.
According to China Customs, China imported 112.1kt of MTBE in Q1, 2019, up 15.33% Y-O-Y. Meanwhile, China’s MTBE export volume reached 8.7kt, up 19% Y-O-Y. Moreover, China’s MTBE apparent consumption volume was about 3,282.5kt, up 12.12% Y-O-Y. Besides, China’s gasoline apparent consumption volume was 10,730kt, up 4.41% Y-O-Y, and the growth of gasoline consumption gradually slowed down. However, there will be new MTBE units to be put into operation in China.
In addition, China plans to fully adopt ethanol gasoline in 2020. Therefore, China may speed up the promotion of ethanol gasoline in H2, 2019. As fuel ethanol is an alternative of MTBE and there will be many newly added MTBE units being put into operation in China, the competition in China’s MTBE market will become severer in H2, 2019.
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