Jul 9, 2020 10:28 PM ET
iCrowd Newswire – Jul 9, 2020
Dimethyl Ether (DME) is an odorless gas produced directly from methanol and indirectly via natural gas. It is also known as methoxy methane. Preference of less noxious fumes has triggered the demand for DME. Global Dimethyl Ether Market Report compiled by Market Research Future (MRFR) contains insights and challenges for industry leaders in the period of 2019 to 2025 (forecast period).
Oberon Fuels, Royal Dutch Shell plc, Jiutai Energy Group, China Energy Limited, Zagros Petrochemical Company, Ferrostaal GmbH, Grillo Werke AG, The Chemours Company, Mitsubishi Corporation, and Akzo Nobel N.V. are key players of the Global Dimethyl Ether Market.
Global Dimethyl Ether Market is expected to accrue revenues at 11% CAGR over the forecast period. It was valued at USD 6.4 billion in 2018. The utilization of DME as a fuel in the transportation sector and an alternative for LPG can bode well for the market. It is also used as fuel in diesel engine and gas turbines. The expansion of oil & gas and paints & coatings sectors can act as catalysts for growth in the market. The utilization of DME as a solvent in the oil & gas sector and its use as a fuel in efficient vehicles can pave open the avenues for the market.
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Global Dimethyl Ether Market is segmented on the basis of Raw Materials and Application.
On the basis of Raw Materials the market is divided into biomass, natural gas, coal, and others.
Based on Application, Global Dimethyl Ether Market is segmented into liquefied natural gas (LPG) blending, transportation fuel, aerosol propellant, and others. The aerosol propellant application is expected to exhibit a stupendous growth rate over the forecast period owing to its use in paints and coatings industry for spraying the content from a pressurized container. On the other hand, the LPG blending application can evoke a large demand for DME as nations shift towards renewable energy. Investments in sustainable energy projects to curtail energy expenses can fuel the segment growth in the Global Dimethyl Ether Market.
Global Dimethyl Ether Market spans across five key regions namely Asia Pacific (APAC), the Middle East & Africa (MEA), Europe, North America, and Latin America.
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APAC is the fastest growing region in the DME market owing to the growing needs of paints & coatings and household fuel in the region. India and China are the major markets in this region on account of the presence of major end use industries. The abundance of coal mines provide enough feedstock for production of DME. Efforts in the development of sustainable fuels by governments are evident with the setup of a DME plant in India by National Chemical Laboratory (NCL).
Europe holds a small share in the Global Dimethyl Ether Market with countries of Germany, the U.K, and Italy contributing. Automotive and paints & coatings industries have evoked the demand for DME in high quantities.
North America is closely following Europe, in terms of market size, in the Global DME Market. U.S. is the largest market in this region, which is attributed to the growing reconstruction activities along with the chemicals industry.
The MEA region is anticipated to grow at a steady CAGR during the forecast period on account of the vast investment potential and growth opportunities in construction and transportation fuel. Latin America can contribute to the market as well owing to changing economic scene in Colombia and Brazil.
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