MTL is a fuel innovator that has developed a generation of patented combustion chemistry to enhance the combustion efficiency in all internal combustion engines (ICE).
This advance in combustion efficiency achieves practical solutions for the environmental and fuel efficiency concerns of the policymakers and the end users.
In 2017, the U.S. Energy Information Administration (EIA) forecasted that the worldwide transportation energy consumption is projected to reach 151 quadrillion BTU (3.8 billion toe) in 2040, a significant increase from 80 quad (2 billion toe) in 2016.
The percentage share for road transport sector is 76%, easing towards 66% by 2040.
To meet the challenges of this growing colossal market, MTL has segmented the global market in developing, and executing three business models, each model focusing on individual features of the global market.
These growing threats are made more urgent by the many forecasts of the global vehicle population doubling to 2.5 billion units by 2040, which is one of the major drivers for world use of liquid fuel.
The world oil consumption is forecast by EIA to grow from 95 mbpd in 2015 to 113 mbpd in 2040.
This rapid growth is despite the increasing penetration of alternative fuels – particularly electric vehicles during the forecast period.
These major concerns on the environment and on fuel efficiency have created the opportunity for the implementation MAZ as a mitigating technology.
The recent acceptance of MAZ by China’s central government in offering a practical strategic solution to mitigate the urban air toxics and climate change has significantly ensured the participation of MAZ in the growing domestic retail market.
CNPC is expecting oil demand to rise 4.6% year on year to hit 600 million tons in 2018. This would translate into a annual demand for more than 320,000 tons of MAZ products.