Market Overview
Dimethyl Ether (DME) market share 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.
Market Research Future (MRFR) assessed the global Dimethyl Ether (DME) market 2021 through the study period till 2030. As per MRFR study, the Dimethyl Ether (DME) market share is expected to thrive at high pace in the analysis period. The increasing demand for clean energy source is observed to boost the adoption of DME solutions due to its less carbon footprint. Thus, DME is extensively utilized in rapidly progressive fields, such as; automotive motors, power generation, and domestic household. The pressure-sensitive liquification property of DME makes it easy to store and transport. The surge in DME production as a fuel can be attributed to DME acting as an LPG alternative and is gaining tractions as a transportation fuel for gas turbines and diesel engines. The increase in the utility of dimethyl ether as both a solvent and aerosol propellant in the paints and coatings industry, along with aforementioned factors are expected to favor the global Dimethyl Ether (DME) market share across the study period.
The upscaling demand of dimethyl ether in manufacturing paints and coatings, and as household and transportation fuel, owing to the shifting towards renewable and clean energy is attracting numerous investments. However, issues with cost optimize of DME can pose threat to the market. The sales of DME is rising eventually due to the increasing awareness about its no-negative effect on the environment. This is likely to counter the DME market slow-down.
Market Segmentation
The segment assessment of the Global Dimethyl Ether (DME) Uses is based on raw material and application. The raw material-based segment of the Dimethyl Ether (DME) market share are coal, natural gas, and biomass among others. The biomass segment is expected to exhibit high growth pace. The application-based segments of the global Dimethyl Ether (DME) market share are transportation fuel, liquefied natural gas (LPG) blending, and aerosol propellant among others. The transportation fuel segment can earn high profit for the market.
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Regional Analysis
The Dimethyl Ether (DME) market share in the Asia Pacific region is expected to rise at high CAGR owing to the rapid expansion of the paints and coatings sector. The increasing utility of DME as household fuel in the region, alongside rise in residential infrastructure, is expected to benefit the market through the analysis period. The existence high end-users of DME in APAC can prompt the market in the coming years.
In Europe, the Dimethyl Ether (DME) market share is expected to garner decent revenue by 2030. Germany, the U.K, and Italy are identified as key contributors to the expansion of the DME market in EU. The surging demand for dimethyl ether in end use industries, such as; automotive, paints, and lacquer industries can contribute to the market rise. The existence of reputed players in EU is likely to add to the market rise.
In North America, the Dimethyl Ether (DME) market share is expected to be spearheaded by the U.S. The rise in reconstruction activities and the rapid development of the chemicals industry are expected to promote the regional market. In the Middle East and Africa region, the Dimethyl Ether (DME) market share is expected rise at considerable CAGR in the review tenure as the region is observed to have huge investment potential. The availability of growth opportunities in end use industries, such as; construction and transportation fuel, is anticipated to favor MEA market. Latin America is likely to garner decent market share of the global Dimethyl Ether (DME) market share owing to the developing economic scenario and pacifying political in Colombia and Brazil.
Key Players
MRFR identified some reputed players in the global Dimethyl Ether (DME) market share to gain insights into the competitive landscape of the market. They are; China Energy Limited (China), Akzo Nobel N.V. (the Netherlands), The Chemours Company (U.S.), Royal Dutch Shell plc (the Netherlands), Mitsubishi Corporation (Japan), Ferrostaal GmbH (Germany), Jiutai Energy Group (China), Grillo Werke AG (Germany), Zagros Petrochemical Company (Iran), and Oberon Fuels (U.S.) among others.
Numerous DME plants are focusing on bridging the gap between supply and potential DME demands. They are working on solutions can offer persistence in supply of DME. Moreover, the long-term growth plans adopted by players are driven by major applications of DME. The rising popularity of DME as fuel to generate power and act as diesel substitute are encouraging different regulatory bodies to emphasize on the novel RD initiatives. The expansion of DME on a commercial scale is likely owing to the aforementioned causes. In-depth study of the dynamics of key players are discussed in the report.
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