Dimethyl Ether Market Overview
Dimethyl Ether Market is projected to be worth USD 29 Billion by 2030, registering a CAGR of 18.35% during the forecast period (2021 - 2030), The market was valued at USD 8 billion in 2021.
The Market Research Future (MRFR) study on the Global Dimethyl Ether Market provides a detailed Industry analysis of the latest developments in the dimethyl ether market In addition, the report also takes into account the COVID-19 impact on the dimethyl ether market and provides a clear evaluation of the expected market fluctuations during the forecast period. Various factors that are likely to have an impact on the overall dynamics of the dimethyl ether market over the forecast period (2022-2030), including current trends, growth opportunities, restraint factors, and more, are analyzed in detail in the market study.
Dimethyl Ether (DME) is a clean source of energy that can be derived from natural gas, coal, and biomass. DME does not produce any SOx or ash when burned. It is gaseous at normal temperature and pressure, but it transitions to the liquid when exposed to high pressure or cooling. This easy liquefaction makes it easy for DME to transport and store. The use of DME is advancing in the fields of power generation, automotive, and household use, among other conceivable applications, due to its remarkable physical, chemical, and storage properties.
Dimethyl Ether Market Dynamics
DME production as a fuel targeted the use of DME as an alternative to LPG, diesel fuel transport, and gas turbine fuel, which is estimated to push dimethyl ether market price. Higher growth of end-use industries such as oil & gas, which consume a large proportion of the overall dimethyl ether as a solvent, is expected to boost the demand for dimethyl ether during the forecast period. The global market for paints & coatings is expected to expand at higher CAGR rates during the forecast period from 2022-2030. DME is used as an aerosol propellant used to spray vapor state paints or coatings from a pressurized container. This is expected to increase dimethyl ether's demand for paints & coatings. The key factors that favor the growth of the global dimethyl ether market are the growing demand for dimethyl ether in a broad array of applications, such as paints and coatings, household fuel, and transport fuel, among others. While the world moves towards clean and renewable energy, there is a great deal of investment in projects to use and cost-optimized DME as an alternative fuel to LPG. DME is more expensive than LPG, but it is combined with LPG as cost-saving gasoline. DME has no adverse effects on the climate.
Dimethyl Ether Market Segmentation
The global dimethyl ether market has been segmented based on raw materials and application.
Based on raw materials, the global market for dimethyl ether has been divided into natural gas, coal, biomass, and others.
Based on application, the global market for dimethyl ether has been segmented into transportation fuel, liquefied natural gas (LPG) blending, aerosol propellant, and others.
Dimethyl Ether Market Regional Analysis
Regionally, the global dimethyl ether market is divided into five key regions, including North America, Asia Pacific, Europe, Middle East & Africa, and Latin America.
The Asia Pacific is the fastest-growing market in the region due to growing paints & coatings and household fuel. India and China are the main markets in this region due to the presence of large end-use industries.
Europe has a relatively smaller share of the global dimethyl ether market. In particular, Germany, the United Kingdom, and Italy are the key contributors to the regional market in this area due to the growing demand of dimethyl ether for end-use industries such as the automotive industry, where the product is primarily used in the form of paint and lacquer. Besides this, there is a significant presence of key players that can help drive the regional market's growth forward.
North America is continuing to follow Europe in the global dimethyl ether market. The U.S. is the largest market in the region, due to growing reconstruction activities with the chemical industry.
The Middle East and Africa are estimated to scale at a significant CAGR during the forecast period, taking into account the significant investment potential and growth opportunities in end-use industries such as transport fuel and construction.
Latin America is expected to join hands with the leading regions in the global dimethyl ether market as a result of the pacifying political and economic scenario in Brazil and Colombia.
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Dimethyl Ether Market Key Players
The prominent participants in the global dimethyl ether market are The Chemours Company (U.S.), Akzo Nobel N.V. (the Netherlands), Mitsubishi Corporation (Japan), China Energy Limited (China), Royal Dutch Shell plc (the Netherlands), Grillo Werke AG (Germany), Jiutai Energy Group (China), Oberon Fuels (U.S.), Ferrostaal GmbH (Germany), and Zagros Petrochemical Company (Iran) among others.
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