- More companies and automakers are preferring to use better gasoline in their automobiles. As a result, new growth opportunities are expected to be opened up.
- The market for dimethyl ether is anticipated to gain from a tendency toward less harmful and advanced products due to expanding customer demand.
WILMINGTON, Del., Sept. 20, 2022 /PRNewswire/ -- In 2020, revenue of dimethyl ether market was clocked at us$ 6.24 bn. The global market is likely to progress at 9.6% CAGR during the forecast period, from 2021 to 2031.The global dimethyl ether market is anticipated to surpass valuation of US$ 17.1 Bn by 2031 Due to the growing use of dimethyl ether as a fuel for chemical feedstock, power plants, transportation, and other uses, businesses in the global dimethyl ether market are expected to benefit substantially.
The global market is expanding as a result of growing knowledge about the advantages of dimethyl ether in numerous end-use industries. In addition, the market for dimethyl ether is anticipated to profit from higher acceptance rates and also an increase in the number of LPG plants built to meet the energy needs of the expanding population. The market is also anticipated to expand due to the automobile industry's continued growth and manufacturers' switch to low carbon fuels. Increasing environmental worries and changing customer preferences suggest that the market for dimethyl ether will gain from a shift toward safer and higher-quality items.
Due to the affordable supply of raw materials in Asia Pacific, the region is likely to offer largest opportunity for dimethyl ether market. China leads the global dimethyl ether market in terms of profitability. It is anticipated that this region will generate sizable earnings due to the expanding usage dimethyl ether in numerous applications, including LPG blending, aerosol propellant, transportation fuel, and so on.
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Key Findings of Market Report
- Dimethyl ether is being used in hybrid automobiles by the automotive industry more often. This is anticipated to accelerate the expansion of the global dimethyl ether market during the forecast period. There has been a sharp rise in sales of both bio-diesel and diesel as a result of several automakers searching for crossover vehicle alternatives worldwide. The use for dimethyl ether to produce biofuels is estimated to rise as initiatives to meet energy requirements from renewable sources obtain backing from the government.
- The LPG blending procedure is the most prevalent usage of DME and is one of the key market segments in dimethyl ether market, depending on application type. As a fuel alternative additive, DME is being blended with LPG to cut hazardous emissions, enhance combustion, as well as lessen reliance on LPG, which is expected to drive future market outlook for dimethyl ether. In order to meet their domestic LPG demand, countries like Indonesia, China, and India are considerably dependent on imports, which is why they are actively encouraging the utilization of DME as an alternative energy source.
- In terms of raw material type, the category of methanol is anticipated to dominate the dimethyl ether market in the years to come. This huge demand is a result of how easily DME can be produced using methanol as a raw ingredient. Additionally, making DME from methanol is an easy and affordable process.
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Global Dimethyl Ether Market: Key Players
Some of the key market players are
- Grillo-Werke AG
- Guangdong JOVO Group Co., Ltd
- Toyo Engineering Corporation
- Royal Dutch Shell plc
- China Energy Limited
- Ferrostaal GmbH
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Global Dimethyl Ether Market: Segmentation
Raw Material
- Coal
- Natural Gas
- Methanol
- Others
Application
- Aerosol Propellants
- LPG Blending
- Transportation Fuel
- Power Plant Fuel
- Chemical Feedstock
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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